Marine Actuators and Valves Market is Projected to Reach US$4.43 bn by 2025: Rising Marine Transport in Response to Increasing International Trade to Fuel Growth
On being highly fragmented where the top 10 players held a meager 20% share in 2016, the global marine actuators and valves market witnesses several mergers and acquisitions at a given time frame. Considering the competitive rivalry among the leading players, consolidation of market share is a key strategy adopted by companies to gain competitive edge. For instance, Cameron International Corporation was acquired by Schlumberger Limited in 2015, following which the later benefited from a valuable expansion of its existing product portfolio, finds Transparency Market Research (TMR) in a new study. Global Marine Actuators and Valves Market: Snapshot Factors such as rapid globalization, the increasing demand for advanced valves in the marine sector, and a sizeable rise in foreign trade have acted in favor of the marine actuators and valves market’s expansion worldwide. While the market is projected to report a CAGR between 5.9% between 2016 and 202...