Global Valve & Actuator Market Outlook 2024

Kiran Ahmed, Oxford Economics

Kiran Ahmed, Oxford Economics, provides the latest update:

2025 has thus far proved to be a volatile year for the global economy and at Oxford Economics we have made hefty downgrades to our economic and industrial outlook. Uncertainty relating to the US’ tariff policy is constraining activity while higher inflation in the US will erode incomes and keep interest rates elevated for longer, further choking off business investment.

Against this backdrop, we will be publishing our ninth Global Valves & Actuators report in October. While much can change between now and October, the likelihood, given the much weaker macroeconomic and industrial outlook, is that we will be adjusting our expectations for valves & actuator market growth lower. Indeed, it is in uncertain times such as these that having forecasts underpinned by rigorous macroeconomic and industrial analysis that we, at Oxford Economics undertake, is of utmost importance.  

The report has evolved substantially since its inception as we respond to feedback from members. These developments have included expanding granularity for end-use markets so that now forecasts for over 30 end-use industries are provided. We also now include forecasts by valve type by end-use sector. Recognising the importance of understanding the potential for different outcomes relative to our baseline, we now include a qualitative assessment of the risks surrounding our valves market forecasts. Our data visualisation tools have been improved substantially, and we now host a data tool on the Oxford Economics website that all members have access to.

While we are keen to address members’ wish lists, the lack of availability of credible data has limited the expansion of our coverage by valve and actuator type. We strongly believe that the methodologies underlying construction of the data sets must be transparent and credible. In the spirit of transparency, we provide details in the report of how we construct the data and provide details on the definitions and codes for data we have used.

In the coming months we will begin work to update the 2025 Global Valve & Actuator report. Developments in the pipeline include further upgrades to our online dashboard and we will continue to work to further improve the report where feasibly possible. We look forward to serving the valve and actuator industry in the coming years.

Global Valve & Actuator Market Outlook

The Global Valve and Actuator Market Outlook 2024 is the eighth annual market report prepared by Oxford Economics, one of the world’s foremost independent global economic forecasting firms. The report is commissioned by the British Valve and Actuator Association.

BVAA members have exclusive access to the Oxford Economics reports via the Member Area of our website. Deliverables include a pdf report, Excel file with all forecasts, access to the online Power BI dashboard and a training video for the dashboard. The online Power BI data tool is hosted on the Oxford Economics website and permits easy visualisation of the data.

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