Oil and Gas Actuators Market Size and Share

The oil and gas actuators market was valued at US$ 6.2 Billion in 2023, and is expected to register a CAGR of 5.4% over the forecast period and reach US$ 9.9 Bn in 2032.
Oil and gas actuators are critical components in the oil and gas industry, and are designed to control flow of fluids, oil, and natural gas through pipes, valves, and across mechanical systems. These components are mechanically operated and function on energy sources, typically electric, pneumatic, or hydraulic to generate motion in a valve. These components are designed to enable precise control over such fluids or gases, and enable safe and efficient operation of the overall system.