North America Valve Actuator Market Forecast to 2031

At 3.8% CAGR, North America Valve Actuator Market is Projected to be Worth US$ 5,301.97 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the North America valve actuator market was valued at US$ 3,943.06 million in 2023 and is expected to reach US$ 5,301.97 million by 2031, registering a CAGR of 3.8% from 2023 to 2031. Miniature actuators and rising development of water & wastewater treatment plants are among the critical factors attributed to drive the North America valve actuator market growth.

The miniaturization of electronic components and systems plays an important role in the electronics industry. It helps reduce the size of the electronic components used in several applications, such as consumer electronics, healthcare, and automotive. In addition, it helps save space for the incorporation of more technologies or reduce the overall size of the electronic device. For example, the reduced size of batteries helps in powering computer miniaturizations. Moreover, miniaturization helps save the cost of the overall material used in the products or components, which can reduce the overall cost of components and devices. Thus, the miniaturization of the actuators will play a crucial role in integration with the miniatured electronic systems. Market players are engaged in innovating valve actuators. For example, in February 2021, Siemens announced its latest range of actuators for valves, which provide low-noise operation for automation use. The SSA range of actuators by Siemens was designed for small valve systems (such as central heating controls and water flow). The actuators include IP54 protection for more flexible installation. The actuators have an integrated LED display for status indication, and they utilize feedback signals to the controlling device to create a closed-loop design. According to Bennett University’s blog in May 2022, micro-electromechanical systems (MEMS) will use actuators to combine mechanical and electrical components in micrometer or millimeter-sized integrated devices or systems. These devices or systems can sense physical stimulus, control a process or system and actuate or drive micro or mega-scale devices. In addition, with the integration of IoT, many sensors and actuators are required for constant monitoring of these devices. Hence, there will be a large requirement for small, low-powered, wireless sensors and smart actuators in the upcoming years, which will drive the valve actuator market during the forecast period.

On the contrary, economic slowdown hampers the growth of North America valve actuator market.

Based on end user, the North America valve actuator market is segmented into mining, LNG, chemical, oil & gas, water & wastewater, and others. The oil & gas segment held 29.1% market share in 2023, amassing US$ 1,147.06 million. It is projected to garner US$ 1,699.97 million by 2031 to register 5.0% CAGR during 2023-2031.

In terms of product type, the North America valve actuator market is categorized into electrical, manual, hydraulic, and pneumatic. The electrical segment held 47.9% share of North America valve actuator market in 2023, amassing US$ 1,887.89 million. It is anticipated to garner US$ 2,502.35 million by 2031 to expand at 3.6% CAGR during 2023-2031.

Based on country, the North America valve actuator market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 82.2% share of North America valve actuator market in 2023. It was assessed at US$ 3,239.62 million in 2023 and is likely to hit US$ 4,449.41 million by 2031, registering a CAGR of 4.0% during 2023-2031.

Key players operating in the North America valve actuator market are Emerson Electric Co; Schlumberger NV; Alfa Laval AB; Flowserve Corp; Crane Company; Rotork Plc; Valmet Oyj; KITZ Corp; IMI Plc; and Tolomatic, Inc. among others.

In January 2024, Emerson Electric Co launched a new eco-friendly electric valve actuator used for ensuring accurate process control in adverse conditions. This eco-friendly electric valve actuator performs accurately and reliably under the extreme conditions found in many heavy industries, particularly oil & gas installations in cold remote locations. These actuator/valve assemblies increase uptime, improve performance, and reduce the risk of emissions posed by gas-operated systems locations.
In March 2023, Flowserve Corp launched FlowSync Bluetooth Actuator App deployed with Limitorque electric actuators for delivering reliable valve control in a variety of applications. The cross-platform mobile application provides plant operators with a smarter way to commission, monitor, control, and update actuators safely and conveniently.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America valve actuator market.
o Highlights key business priorities to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the North America valve actuator market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America valve actuator market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.

TABLE OF CONTENTS

1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Valve Actuator Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. North America Valve Actuator Market – Key Market Dynamics
5.1 Drivers
5.1.1 Growth of Oil & Gas Industry
5.1.2 Development of Advanced Valve Actuators
5.1.3 Advent of Industry 4.0
5.2 Restraints
5.2.1 Economic Slowdown
5.3 Opportunities
5.3.1 Increasing Focus on Renewable Energy Sector
5.3.2 Rising Development of Water & Wastewater Treatment Plants
5.4 Future Trends:
5.4.1 Miniature Actuators
5.5 Impact of Drivers and Restraints:
6. Valve Actuator Market – North America Analysis
6.1 North America Valve Actuator Market Overview
6.2 Valve Actuator Market Revenue (US$ million), 2021-2031
6.3 Valve Actuator Market Forecast Analysis
7. North America Valve Actuator Market Analysis – by End User
7.1 Mining
7.1.1 Overview
7.1.2 Mining: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
7.2 LNG
7.2.1 Overview
7.2.2 LNG: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
7.3 Chemical
7.3.1 Overview
7.3.2 Chemical: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
7.4 Oil & Gas
7.4.1 Overview
7.4.2 Oil & Gas: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
7.5 Water & Wastewater
7.5.1 Overview
7.5.2 Water & Wastewater: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
8. North America Valve Actuator Market Analysis – by Product Type
8.1 Electrical
8.1.1 Overview
8.1.2 Electrical: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
8.2 Manual
8.2.1 Overview
8.2.2 Manual: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
8.3 Hydraulic
8.3.1 Overview
8.3.2 Hydraulic: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
8.4 Pneumatic
8.4.1 Overview
8.4.2 Pneumatic: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
9. North America Valve Actuator Market – Country Analysis
9.1 North America
9.1.1 North America: Valve Actuator Market Breakdown, 2023 and 2031 (%) – by Country
9.1.1.1 North America: Valve Actuator Market – Revenue and Forecast Analysis – by Country
9.1.1.2 United States: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
9.1.1.2.1 United States: Valve Actuator Market Breakdown, by End User
9.1.1.2.2 United States: Valve Actuator Market Breakdown, by Product Type
9.1.1.3 Canada: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
9.1.1.3.1 Canada: Valve Actuator Market Breakdown, by End User
9.1.1.3.2 Canada: Valve Actuator Market Breakdown, by Product Type
9.1.1.4 Mexico: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
9.1.1.4.1 Mexico: Valve Actuator Market Breakdown, by End User
9.1.1.4.2 Mexico: Valve Actuator Market Breakdown, by Product Type
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
12. Company Profiles
12.1 Emerson Electric Co
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Schlumberger NV
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Alfa Laval AB
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Flowserve Corp
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Crane Company
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Rotork Plc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Valmet Oyj
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 KITZ Corp
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 IMI Plc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Tolomatic, Inc.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 Glossary
13.2 About The Research Team

LIST OF TABLES

Table 1. North America Valve Actuator Market Segmentation
Table 2. List of Vendors
Table 3. Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Table 4. Valve Actuator Market – Revenue and Forecast to 2031 (US$ million) – by End User
Table 5. Valve Actuator Market – Revenue and Forecast to 2031 (US$ million) – by Product Type
Table 6. North America: Valve Actuator Market – Revenue and Forecast to 2031 (US$ Million)- by Country
Table 7. United States: Valve Actuator Market – Revenue and Forecast to 2031 (US$ Million)- by End User
Table 8. United States: Valve Actuator Market – Revenue and Forecast to 2031 (US$ Million)- by Product Type
Table 9. Canada: Valve Actuator Market – Revenue and Forecast to 2031 (US$ Million)- by End User
Table 10. Canada: Valve Actuator Market – Revenue and Forecast to 2031 (US$ Million)- by Product Type
Table 11. Mexico: Valve Actuator Market – Revenue and Forecast to 2031 (US$ Million)- by End User
Table 12. Mexico: Valve Actuator Market – Revenue and Forecast to 2031 (US$ Million)- by Product Type
Table 13. Heat Map Analysis by Key Players

LIST OF FIGURES

Figure 1. North America Valve Actuator Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Valve Actuator Market – Key Market Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Valve Actuator Market Revenue (US$ million), 2021-2031
Figure 6. Valve Actuator Market Share (%) – by End User (2023 and 2031)
Figure 7. Mining: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 8. LNG: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 9. Chemical: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 10. Oil & Gas: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 11. Water & Wastewater: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 12. Others: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 13. Valve Actuator Market Share (%) – by Product Type (2023 and 2031)
Figure 14. Electrical: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 15. Manual: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 16. Hydraulic: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 17. Pneumatic: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 18. North America Valve Actuator Market, by Key Country – Revenue (2023) (US$ Million)
Figure 19. North America: Valve Actuator Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 20. United States: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 21. Canada: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 22. Mexico: Valve Actuator Market – Revenue and Forecast to 2031 (US$ million)
Figure 23. Company Positioning & Concentration