Oil & Gas Actuators Market to Reach US$ 9,076.2 Million by 2030
Reports and Insights has published a new report titled, “Oil And Gas Actuators Market: Opportunity Analysis and Future Assessment 2022-2030”
The oil & gas actuators market is estimated to reach at a value of US$ 5,941.4 Mn by the end of 2022 and expected to reach at a value of US$ 9,076.2 Mn by 2030 with a significant CAGR of 5.4%
An operator, or technician, must be present to modify manually-operated valves, which are adjusted using a direct or geared mechanism attached to the valve stem. Power-operated actuators, on the other hand, use gas, hydraulic, or electrical pressure to modify a valve remotely. An actuator is a component of a device or machine (Valves in this case) that converts energy (usually electrical, air, or hydraulic) into mechanical force to allow it to perform physical movements. Simply put, it is the part of a machine that allows it to move.
The amount and kind of input are determined by the type of energy to be transformed as well as the actuator's purpose. For example, electric and piezoelectric actuators work with an electric current or voltage as input, hydraulic actuators with an incompressible liquid as input, and pneumatic actuators with air as input. Mechanical energy is always the output.
Key Takeaways from the Market Study
Substantial Volume production is enhancing the sales of actuators
Reports and Insights Study identifies some of the key participating players in oil & gas actuators market are Curtiss-Wright, Rotork, ATI, QTRCO, Inc., AUMA Riester GmbH & Co. KG, Emerson Electric Co., REXA, Bray International, Agromatic Stellantriebe, Ametek Inc. and many others.
Oil And Gas Actuators Market Segmentation
The global oil and gas actuators market is segmented on the basis of type, configuration, operation, application, end use, and region.
By End Use
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