December 15, 2023 04:30 ET | Source: Transparency Market Research Transparency Market Research
Wilmington, Delaware, United States, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The actuators and valves market was worth US$ 415.3 million in 2022. A CAGR of 4.3% is predicted from 2023 to 2031, reaching US$ 615.6 million during the forecast period. With the advent of smart actuators, the industry has been revolutionized. The advanced technologies of these actuators, which include sensors, communications, and data analytics, facilitate predictive maintenance, remote monitoring, and improved control. power actuator
Performance and reliability of actuators have improved over the years. Industry needs are constantly evolving, requiring manufacturers to introduce new models and upgrades. Actuator and valve technology has become increasingly automated. Valve control systems have evolved to become more precise and efficient through integration with industrial automation platforms, eliminating the need for manual operation.
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New possibilities have emerged because actuators and valves are connected to digital systems through the Industrial Internet of Things (IIoT). A real-time monitoring system is used, a remote control is implemented, and data-driven decisions are made, resulting in improved performance.
Global Actuators and Valves Market: Key Players Major manufacturers of actuators and valves to enhance the function of their products are increasingly using smart technologies and the integration of novel sensors. To satisfy the rising demand from several lucrative industries, vendors are constantly adopting better designs to expand their range of applications.
Key Findings of the Market Report
Global Actuators and Valves Market: Growth Drivers
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Global Actuators and Valves Market: Regional Landscape
Global Actuators and Valves Market: Segmentation By Product Type
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