Oil and Gas Actuator Market
Oil and Gas Actuator Market Study by Pneumatic Actuators, Electrical Actuators, and Hydraulic Actuators for Onshore, Offshore, and Subsea Application From 2024 to 2034
Analysis of Oil and Gas Actuators Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Oil and Gas Actuator Market Outlook (2024 to 2034)
Fact.MR in its newly published report mentioned that the global oil and gas actuator market is estimated to touch a value of US$ 7.51 billion in 2024 and is further projected to reach a size of US$ 9.9 billion by the end of 2034. Demand is evaluated to rise at a CAGR of 2.8% from 2024 to 2034.
The market for oil and gas actuators is expanding due to the rising need for energy across the globe. To control and automate fluid flow and guarantee effective operations, this expansion calls for the employment of actuators in production facilities, offshore platforms, drilling rigs, and others.
To increase productivity, reduce human errors, and save operating expenditures, oil and gas actuator manufacturing companies are putting high emphasis on automating processes. Actuators are becoming a vital part of automation systems for sustained and efficient operation because they ensure automatic control of valves and flow systems.
- For instance, ExxonMobil's actuator systems now incorporate advanced sensors, Internet of Things devices, and data analytics, enabling real-time monitoring of offshore platform equipment, such as pumps and valves. To estimate errors before they happen, these sensors collect data on environmental factors, wear, and performance. AI and machine learning are then used to analyze the data.
The North American region is projected to account for a leading position with 30% of the global market share in 2024 due to its well-established and strong oil and gas industry. Growing shale oil production is further contributing to market expansion in the region.
Key players are aiming at China as it is one of the key manufacturers of actuators due to its increasingly crucial role in the energy sector, particularly in terms of capability for both domestic oil production and refinement.
The United States is a key country in the market due to its vast and diverse oil and gas sector, which includes several well-established players as well as several smaller companies involved in exploration and production. The country has more than 1000+ companies involved in this business and due to this; the need for oil and gas actuators is continuously increasing
According to research by Fact.MR,
-
The market in North America is estimated to generate revenue of US$ 2.25 billion in 2024.
- The market in South Asia & Pacific is forecasted to expand at 4.3% CAGR from 2024 to 2034.
- Sales of pneumatic actuators are approximated at US$ 3.08 billion by the end of 2034.
- Based on application, the onshore segment is projected to account for 48.2% of the global market share in 2024.
| Report Attribute | Detail |
|---|---|
| Oil and Gas Actuator Market Size (2024E) | US$ 7.51 Billion |
| Forecasted Market Value (2034F) | US$ 9.9 Billion |
| Global Market Growth Rate (2024 to 2034) | 2.8% CAGR |
| North America Market Share (2024E) | 30% |
| East Asia Market Value (2024E) | US$ 2.01 Billion |
| South Asia & Pacific Market Growth Rate (2024 to 2034) | 4.3% CAGR |
| Pneumatic Actuators Segment Value (2034F) | US$ 3.08 Billion |
| Linear Actuators Segment Value (2034F) | US$ 5.45 Billion |
| Key Companies Profiled | Curtiss-Wright; Rotork; ATI; QTRCO, Inc.; AUMA Riester GmbH & Co. KG,; REXA; Bray International; Emerson Electric Co.; Habonim; Agromatic Stellantriebe; Ametek Inc.; Zoedale Ltd. |
Newly released data from Fact.MR opines global demand for oil and gas actuators to grow slightly in 2024.
The industry analysis report tracks oil and gas actuators and offers historical analysis for 2019 to 2023 while offering forecasts for 2024 to 2034.
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Key Developments by Oil and Gas Actuator Manufacturers
Curtiss-Wright is focusing on covering several sectors to provide different actuators. The end users' demand for integrated and electromechanical has increased.
Thus, the company provides actuators that are used in the aerospace sector and Ground & Naval defense sector. In addition to this, the company focuses on compact and high force electromechanical actuators.
Another key player, Rotork, is focusing on removing integration issues of multiple vendors. Therefore, the company has joined hands with Endress Hauser’s open integration program.
The company tends to focus on adding expertise to their actuators that will give the customers freedom of choice to choose from their integrated program.
A Comprehensive Analysis
The global oil and gas actuators market is a mature market where innovations are limited; however, automation is the key factor that drives the growth of the global oil and gas actuators market.
In addition to that, the developments in products, such as electric actuators, and pneumatic actuators (quarter-turn rack & pinion) are keeping the oil and gas actuators market to have a positive growth trend. The adoption of modern instrumentation solutions, such as remote monitoring in oil and gas actuators is growing at a faster rate.
Currently, electric actuators are replacing hydraulic actuators in the oil and gas industry as electric actuators are perfectly suited to move, regulate, and control valves with better performance and low-cost maintenance.
Customized and advanced actuators that guarantee process reliability even when operating in harsh climatic conditions and extreme temperatures impart a steady growth trend to the oil and gas actuators market.
Oil and gas actuators play pivotal roles in refineries, depending on the level of automation deployed in them. In a refinery, storage, and export operations have a high requirement for oil and gas actuators as multiple products need to be managed between tanks and loading facilities.
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Key Factors Driving Demand for Oil and Gas Actuators
The global oil and gas actuators market is driven by shale gas production whereas the US, China, Canada, and Argentina have deployed oil and gas actuators for natural gas production from tight oil.
As oil and gas operators focusing on shale gas production the adoption of oil and gas actuators will drive sales among the manufacturers and suppliers.
Subsea electric actuators are gaining traction due to investments in offshore operations, which will support the oil and gas actuators market.
In addition to this, customized oil and gas actuators or tailor-made solutions are experiencing a strong trend, which will pose major growth momentum in the forecast period.
The adoption of electro-hydraulic technology in oil and gas actuators with extremely rugged design and construction to avoid airline problems in varying temperatures is keeping the global oil and gas actuators market in a positive growth trend.
Oil and Gas Actuators Market: Regional Outlook
North America, followed by Asia, is the leading consumer of oil and gas actuators. Production and pipeline operations are expected to witness robust growth as crude oil prices are recovering, which in turn is driving investments for new oil and gas operations.
Greenfield and brownfield offshore operations, which were halted, are expected to gain momentum and thus, drive the adoption rate of oil and gas actuators.
Refining operations are gaining traction in countries, such as China and India, which in turn will increase market opportunities for the sales of oil and gas actuators over the forecast period.
Manufacturers from the U.S., Germany, and the U.K. will concentrate their market scope on these countries during the forecast period, which will drive the global oil and gas actuators market.
Developing countries in Asia and Africa will pose a higher growth rate for the global oil and gas actuators market during the forecast period.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
Some of the key market participants in the global oil and gas actuators market include,
- Curtiss-Wright
- Rotork
- ATI
- QTRCO, Inc.
- AUMA Riester GmbH & Co. KG,
- REXA
- Bray International
- Emerson Electric Co.
- Habonim
- Agromatic Stellantriebe
- Ametek Inc.
- Zoedale Ltd.
This analytical research study imparts an all-inclusive assessment of the market while propounding historical intelligence, actionable insights, and industry-validated & statistically upheld market forecasts.
A verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study.
Information and analysis on key market segments incorporated in the report have been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
- Technology
Regional Segments Analyzed Include
- North America (United States, Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, United Kingdom, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessments by leading industry experts and inputs from opinion leaders & industry participants around the value chain.
Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed.
The qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current, and forecast market size based on value and volume
- Historical, current, and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis of the performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
Segmentation of Oil and Gas Actuator Market Research
-
By Type :
- Pneumatic Actuators
- Electrical Actuators
- Hydraulic Actuators
-
By Configuration :
- Linear Actuators
- Rotary Actuators
-
By Operation :
- Double Acting
- Spring Return
-
By Application :
- Onshore
- Offshore
- Subsea
-
By End Use :
- Upstream
- Midstream
- Downstream
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Type
- 6.2. Configuration
- 6.3. Operation
- 6.4. Application
- 6.5. End Use
- 7. Global Market Analysis and Forecast, By Type
- 7.1. Pneumatic actuators
- 7.2. Electrical actuators
- 7.3. Hydraulic actuators
- 8. Global Market Analysis and Forecast, By Configuration
- 8.1. Linear actuators
- 8.2. Rotary actuators
- 9. Global Market Analysis and Forecast, By Operation
- 9.1. Double acting
- 9.2. Spring return
- 10. Global Market Analysis and Forecast, By Application
- 10.1. Onshore
- 10.2. Offshore
- 10.3. Subsea
- 11. Global Market Analysis and Forecast, By End Use
- 11.1. Upstream
- 11.2. Midstream
- 11.3. Downstream
- 12. Global Market Analysis and Forecast, By Region
- 12.1. North America
- 12.2. Latin America
- 12.3. Western Europe
- 12.4. Eastern Europe
- 12.5. Asia Pacific
- 12.6. East Asia
- 12.7. MEA
- 13. North America Sales Analysis and Forecast, by Key Segments and Countries
- 14. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 15. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 16. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 17. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 18. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 19. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 20. Sales Forecast by Type, Configuration, Operation, Application, and End Use for 30 Countries
- 21. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 22. Company Profile
- 22.1. Curtiss-Wright
- 22.2. Rotork
- 22.3. ATI
- 22.4. QTRCO, Inc.
- 22.5. AUMA Riester GmbH & Co. KG
- 22.6. REXA
- 22.7. Bray International
- 22.8. Emerson Electric Co.
- 22.9. Habonim
- 22.10. Agromatic Stellantriebe
- 22.11. Ametek Inc.
- 22.12. Zoedale Ltd.
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Type
Table 3: Global Market US$ Mn Forecast by Configuration
Table 4: Global Market US$ Mn Forecast by Operation
Table 5: Global Market US$ Mn Forecast by Application
Table 6: Global Market US$ Mn Forecast by End Use
Table 7: North America Market US$ Mn Forecast by Country
Table 8: North America Market US$ Mn Forecast by Type
Table 9: North America Market US$ Mn Forecast by Configuration
Table 10: North America Market US$ Mn Forecast by Operation
Table 11: North America Market US$ Mn Forecast by Application
Table 12: North America Market US$ Mn Forecast by End Use
Table 13: Latin America Market US$ Mn Forecast by Country
Table 14: Latin America Market US$ Mn Forecast by Type
Table 15: Latin America Market US$ Mn Forecast by Configuration
Table 16: Latin America Market US$ Mn Forecast by Operation
Table 17: Latin America Market US$ Mn Forecast by Application
Table 18: Latin America Market US$ Mn Forecast by End Use
Table 19: Western Europe Market US$ Mn Forecast by Country
Table 20: Western Europe Market US$ Mn Forecast by Type
Table 21: Western Europe Market US$ Mn Forecast by Configuration
Table 22: Western Europe Market US$ Mn Forecast by Operation
Table 23: Western Europe Market US$ Mn Forecast by Application
Table 24: Western Europe Market US$ Mn Forecast by End Use
Table 25: Eastern Europe Market US$ Mn Forecast by Country
Table 26: Eastern Europe Market US$ Mn Forecast by Type
Table 27: Eastern Europe Market US$ Mn Forecast by Configuration
Table 28: Eastern Europe Market US$ Mn Forecast by Operation
Table 29: Eastern Europe Market US$ Mn Forecast by Application
Table 30: Eastern Europe Market US$ Mn Forecast by End Use
Table 31: Asia Pacific Market US$ Mn Forecast by Country
Table 32: Asia Pacific Market US$ Mn Forecast by Type
Table 33: Asia Pacific Market US$ Mn Forecast by Configuration
Table 34: Asia Pacific Market US$ Mn Forecast by Operation
Table 35: Asia Pacific Market US$ Mn Forecast by Application
Table 36: Asia Pacific Market US$ Mn Forecast by End Use
Table 37: East Asia Market US$ Mn Forecast by Country
Table 38: East Asia Market US$ Mn Forecast by Type
Table 39: East Asia Market US$ Mn Forecast by Configuration
Table 40: East Asia Market US$ Mn Forecast by Operation
Table 41: East Asia Market US$ Mn Forecast by Application
Table 42: East Asia Market US$ Mn Forecast by End Use
Table 43: MEA Market US$ Mn Forecast by Country
Table 44: MEA Market US$ Mn Forecast by Type
Table 45: MEA Market US$ Mn Forecast by Configuration
Table 46: MEA Market US$ Mn Forecast by Operation
Table 47: MEA Market US$ Mn Forecast by Application
Table 48: MEA Market US$ Mn Forecast by End Use
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Insights on import/export production,
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Configuration
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Operation
Figure 4: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 5: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use
Figure 6: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 7: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 8: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Configuration
Figure 9: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Operation
Figure 10: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 11: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use
Figure 12: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 14: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Configuration
Figure 15: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Operation
Figure 16: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 17: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use
Figure 18: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 19: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 20: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Configuration
Figure 21: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Operation
Figure 22: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 23: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use
Figure 24: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 26: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Configuration
Figure 27: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Operation
Figure 28: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 29: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use
Figure 30: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 31: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 32: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Configuration
Figure 33: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Operation
Figure 34: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 35: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use
Figure 36: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 37: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 38: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Configuration
Figure 39: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Operation
Figure 40: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 41: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use
Figure 42: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 43: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 44: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Configuration
Figure 45: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Operation
Figure 46: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 47: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use
Figure 48: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is driving the market for oil and gas actuators currently?
The global oil and gas actuators market is driven by growing shale gas production.
Who are the key players in the oil and gas actuators market?
Key companies are Curtiss-Wright, Rotork, ATI, QTRCO, Inc., AUMA Riester GmbH & Co. KG, REXA, Bray International, and Emerson Electric Co.,
Oil and Gas Actuator Market