Marine Actuators and Valves Market continues to expand with Bosch Rexroth introducing SVA R2 electric subsea valve actuator, which satisfies Safety Integrity Level (SIL) 3

 

Marine Actuators and Valves are used in different industries and for various purposes. There is a huge need for these marine valves and they are essential to all types of industries. These Actuators and Valves are available in different models, designs, forms, sizes, specifications, etc. They are available in different sizes so as to suit all the requirements. Many countries across the globe are focused on modernizing their navies. The primary focus is on the procurement of advanced vessels, in order to protect the coastal areas of their respective countries. Besides, rapid growth of the maritime tourism industry is another key factor accelerating growth of the marine actuators and valves market in the near future. Recently, in April 2021, Bosch Rexroth launched SVA R2 electric subsea valve actuator, which satisfies Safety Integrity Level (SIL) 3 in accordance with IEC 61508 and IEC 61511. 

Rapidly growing international trade due to globalization remains one of the key aspects aiding market development. Over the course of 50 years, globalization has led to a rampant increase in international trade and culture exchange. According to the United Nations Conference on Trade and Development (UNCTAD), maritime trade volume reached 11.08 billion tons in 2019, increasing from 9.8 billion in 2014. This, in turn, has resulted in cheaper shipping with marine transportation being the most favored mode of shipping. Hence, such factors can stimulate growth of the marine actuators and valves market.

There are two different categories of Marine Actuators and Valves; onshore and offshore. Both have the same application and basically serve the same purpose but each category of these products is different in terms of its usage and its characteristics. In the onshore sector, the main use of these valves is for the regulation of ocean freight. In the marine industry, these are mainly used for controlling and monitoring the flow of liquid or vapor. When it comes to regional impact, North America seems to be gaining massive traction in the marine actuators and valves market. This due to the fact that the U.S. Navy is modernizing its fleet with the addition of advanced vessels. Furthermore, the Canadian government is developing its own marine industry, which could aid the market growth. On the contrary, Europe is exhibiting positive signs due to stable economic growth and low-cost transportation.

Marine valves are utilized in different industries and other processes for controlling and monitoring different kinds of liquids, gases, steam, grain, mill, sludge, water, and any moving agent including grain and mill. Some of the widely used marine valves are ball, gate, angle, butterfly, globe, and others. Regardless of these advantages, certain negative aspects of the market could limit future development. For instance, stringent regulations must be complied with by valve and actuator manufacturers, which could impede growth of the marine actuators and valves market. Besides, challenges associated with noise, power consumption, and leakage can further inhibit growth of the market.