South & Central America Valve Actuator Market
No. of Pages: 101 | Report Code: BMIRE00030951 | Category: Electronics and Semiconductor
No. of Pages: 101 | Report Code: BMIRE00030951 | Category: Electronics and Semiconductor
The South & Central America valve actuator market was valued at US$ 687.99 million in 2023 and is expected to reach US$ 858.73 million by 2031; it is estimated to register a CAGR of 2.8% from 2023 to 2031.
There is a rise in the shift from fossil fuels to renewable energy to lower emission levels and address the climate crisis. In addition, the adoption of renewable energy results in the reduction of the overall cost needed for power generation. Government spending plays a pivotal role in the rapid progression of clean energy investment and the expansion of clean technology supply chains. According to the latest update of the International Energy Agency's (IEA's) Government Energy Spending Tracker, the amount of money allocated by governments to support investments in clean energy since 2020 has increased to US$ 1.34 trillion. Direct incentives for manufacturers aimed at bolstering domestic manufacturing of clean energy technologies total ~US$ 90 billion. Such a rise in investment results in the launch of new renewable energy projects that demand valve actuators for an efficient working environment.
Many market players providing solutions for renewable energy will cater to the needs of the growing renewable energy sector in the coming years. For example, companies such as Valmet and MecVel Srl provide a range of actuators that can benefit the renewable energy sector. For example, MecVel's actuators may be used in the hydroelectric field to automate the opening/closing of bulkheads for water flow regulation. Also, Valmet's Neles double-acting and spring return quarter-turn actuators are designed for use in modulating control and on-off service. These actuators offer an extremely long cycle life. They are well-suited for almost any type of rotary valve.
Thus, government spending on renewable energy fuels the actuator market growth in the forecast period.
South & Central America Valve Actuator Market Overview
The South & Central America valve actuator market is segmented into Brazil, Argentina, and the Rest of South & Central America. The region has various oil-producing countries, such as Argentina, Brazil, Colombia, Mexico, and Venezuela. Oil-producing facilities in these countries generate a notable demand for valve actuators.
The South & Central America actuator market is segmented into Brazil, Argentina, and the Rest of South & Central America. Countries such as Venezuela and Brazil are promoting their domestic oil & gas production. According to the ITA, in 2022, Brazil's natural gas (NG) production was 138 million cubic meters/day, up by 2.98% compared to 2021. The average NG supply in 2022 was 47.56 million cubic meters/day. Also, Brazil's Energy Expansion Plan 2022-2032 predicts that the country's oil production would reach 4.9 million barrels of oil per day by 2032, with the pre-salt fields accounting for nearly 80% of total production. The increasing oil & gas production is creating a demand for valve actuators in South & Central America.
Various offshore oil & gas plants across Brazil are using electric actuators. In June 2021, Hanbay Inc. provided explosion-proof multiturn stainless steel actuators for a new oil & gas project off the coast of Brazil. Hanbay R-Series actuators are compact and robust, and they can withstand harsh saline conditions. The actuator housing, as well as the valve and mounting kit, are made of high-grade stainless steel for ultimate protection and resistance against harsh weather conditions.
Strategic insights for the South & Central America Valve Actuator provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the South & Central America Valve Actuator refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.South & Central America Valve Actuator Strategic Insights
South & Central America Valve Actuator Report Scope
Report Attribute
Details
Market size in 2023
US$ 687.99 Million
Market Size by 2031
US$ 858.73 Million
Global CAGR (2023 - 2031)
2.8%
Historical Data
2021-2022
Forecast period
2024-2031
Segments Covered
By End User
By Product Type
Regions and Countries Covered
South and Central America
Market leaders and key company profiles
South & Central America Valve Actuator Regional Insights
The South & Central America valve actuator market is categorized into end user, product type, and country.
Based on end user, the South & Central America valve actuator market is segmented into mining, LNG, chemical, oil & gas, water & wastewater, and others. The oil & gas segment held the largest market share in 2023.
In terms of product type, the South & Central America valve actuator market is categorized into electrical, manual, hydraulic, and pneumatic. The electrical segment held the largest market share in 2023.
By country, the South & Central America valve actuator market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America valve actuator market share in 2023.
Emerson Electric Co; Schlumberger NV; Alfa Laval AB; Flowserve Corp; Crane Company; Rotork Plc; Valmet Oyj; KITZ Corp; IMI Plc; and Tolomatic, Inc. are among the leading companies operating in the South & Central America valve actuator market.
The South & Central America Valve Actuator Market is valued at US$ 687.99 Million in 2023, it is projected to reach US$ 858.73 Million by 2031.
As per our report South & Central America Valve Actuator Market, the market size is valued at US$ 687.99 Million in 2023, projecting it to reach US$ 858.73 Million by 2031. This translates to a CAGR of approximately 2.8% during the forecast period.
The South & Central America Valve Actuator Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Valve Actuator Market report:
The South & Central America Valve Actuator Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Valve Actuator Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Valve Actuator Market value chain can benefit from the information contained in a comprehensive market report.