Global Marine Actuators and Valves Market to Reach $5 Billion by 2030
The global market for Marine Actuators and Valves estimated at US$3.6 Billion in the year 2023, is expected to reach US$5 Billion by 2030, growing at a CAGR of 4.7% over the period 2023-2030. Marine Actuators, one of the segments analyzed in the report, is expected to record 5.3% CAGR and reach US$1.6 Billion by the end of the analysis period. Growth in the Marine Valves segment is estimated at 4.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $960.6 Million, While China is Forecast to Grow at 7.2% CAGR
The Marine Actuators and Valves market in the U.S. is estimated at US$960.6 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 4.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.
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