Global Marine Valves and Actuators Market 2017-2021
About Marine Valves and Actuators
Valves in marine applications are devices that regulate, control, and direct the flow of fluids such as liquids, slurries, gases, and fluidized solids by closing, opening, or even partially obstructing different passageways, whereas actuators in the marine industry help in controlling the mechanism and systems, which are present in a ship, thereby making it a vital component.
Technavio’s analysts forecast the global marine valves and actuators market to grow at a CAGR of 3.52% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global marine valves and actuators market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Marine Valves and Actuators Market 2017-2021
Technavio recognizes the following companies as the key players in the global marine valves and actuators market: Emerson, Wärtsilä, Rotork, and AVK Group.
Other Prominent Vendors in the market are: Actuation Valve and Control, Apollo Valves (CONBRACO INDUSTRIES), Atlas Marine Valves & Equipments, Brooksbank Valves, Cla-Val, Göpfert, HOERBIGER, Johnson Valves, LK Valves and Controls, NAG Marine, and Pima Valve.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is high demand for FPS. Increased demand for new units of floating production systems (FPS) is increasing with growing global oil demand. Around 220 FPS are in different stages of planning, of this major share is of FPSO.”
According to the report, one driver in the market is increase in seaborne trade. Seaborne trade has witnessed a gradual increase over the past decade due to the adverse effect of globalization and demand/supply of commodities and manufactured goods. The growth in seaborne trade is expected to propel the demand for shipbuilding, thereby driving the demand for marine valves and actuators. Seaborne trade also plays a major role in the economic expansion and economic growth of the country and its region.
Further, the report states that one challenge in the market is collapsing Greek shipbuilding industry. The Eurozone crisis has had a significant impact on the shipbuilding industry in Greece, which has dominated the global shipping trade from the 1960s. The EU's stimulus package and the International Monetary Fund bailout have given a new lease of life to the nation, which suffered from the debilitating effects of surging borrowing costs and austerity measures attached to previous European Union bailouts.
Emerson, Wärtsilä, Rotork, AVK Group, Actuation Valve and Control, Apollo Valves (CONBRACO INDUSTRIES), Atlas Marine Valves & Equipments, Brooksbank Valves, Cla-Val, Göpfert, HOERBIGER, Johnson Valves, LK Valves and Controls, NAG Marine, and Pima Valve.