Recent Release | 26 Nov 2024
2024 Global Valve and Actuator Market Outlook
Industry Services Team
Oxford Economics
Valves and Actuators Demand in 2025: Growth to Pick Up Slowly Amidst Market Recovery
The global valves market expanded by an estimated 4.2% in 2023 to reach US $85 billion. This growth followed a much weaker than expected 2022 outturn. Looking ahead, we expect the global valves market to register an increase of 3.6% in 2024 and 4.1% in 2025, with the actuator market expected to grow at a similar pace.
4.1%
Global valve market growth forecast for 2025
3.8%
Valve demand growth forecast in North America for 2024
1.9%
Valve demand growth forecast in Europe for 2025
5.3%
Valve demand growth forecast in Asia Pacific for 2025
Download a sample of 2024 Global Valve and Actuator Market Outlook report
Key findings of our report include:
- The impact of past rate hikes appears to be weighing on industrial activity more heavily than anticipated. We expect industrial activity to grow by 2.1% in 2024 and to accelerate further in 2025, approaching 3%.
- Sectors key to valves consumption are some of the most sensitive to interest rate changes.
- Residential building should start to see a pick-up next year as interest rates are cut. The non-residential sector will be aided by strong government investment in the short term as industrial policy becomes a more mainstream focus.
- The chemicals sector, on the other hand, will benefit from the end of the destocking cycle and the pass-through from lower interest rates. The upturn in industrial activity should help propel activity in the power generation sector.
Purchase the full 2024 Global Valve and Actuator Market Outlook report
The 2024 Global Valve and Actuator Market Outlook report, now in its eighth edition, provides a comprehensive forecast of the global pump market, covering over 80 countries, more than 30 end-use sectors and 8 valve and actuator. This report identifies key growth markets, potential laggards and risks to the outlook.
In addition to the PDF report, you will receive access to an interactive Power BI dashboard, allowing you to visually navigate insights. Additionally, experts from our Industry Team will be available to answer any related questions.
If you are interested in purchasing the full solution, please click the button below and fill out the form to have a representative contact you.
The expert behind the research
This report is prepared by Oxford Economics’ Industry Team, who specialists in analyses and forecasts industries’ performance. They combine their expert insight with our state-of-the-art economic models and tools to answer the crucial questions facing our clients. Lead consultants on the project were:
Jeremy Leonard
Managing Director of Global Industry Services
Kiran Ahmed
Lead Economist, Industry Services
Francesco Chirillo
Economist, Industry Services
This report is commissioned and supported by British Valve and Actuator Association.
Tags:
You might also be interested in
European industry will bottom out and recover…eventually
European industry is still in the midst of an almost two-year recession, but we believe that the end is increasingly in sight.
Find Out More
European struggles are slowing the global industrial upturn
Europe’s industrial recession continues to take its toll: the EU's industrial output expected to shrink by 0.7% in 2024, a significant downgrade from our previous forecast of 0.1% growth,
Find Out More
Industry Forecast Highlights: Past rate hikes dampen prospects for industrial production until 2025
We expect global industrial production to grow by 2.6% this year, up from 1.8% in 2023. Our view remains that value-added industrial production bottomed out last year and is on course for a gradual recovery.
Find Out More
Temporary layoffs don’t signal a weak US labor market
A surge in temporary layoffs drove another rise in the unemployment rate in July, stoking recession concerns and fears that the Federal Reserve is behind the curve.
Find Out More