The mature Latin American industrial valves and actuators market is experiencing pockets of growth. Growth is driven by high demand for electricity in the power generation industry and investment in the petrochemical industry. However, difficult political and economic conditions in Brazil and Venezuela, which account for 54 % of demand, severely hinder investment in new valves and actuators.
Level of industrialization, consumer demand, economic attractiveness, and political structure are key factors driving demand for valves and actuators in the Latin America region. As a result, the countries that account for the highest demand for valves and actuators include Brazil (39.3 %), Mexico (20.5%), Venezuela (13.6%), Argentina (12.1 percent), and Colombia (9.3%), with other countries such as Peru, Chile, and Central America representing the rest (5.1%).
Further growth opportunities such as replacement parts and aftermarket services are creating opportunities for upgrades and other additional services for valve and actuator manufacturing companies. Also, quarter-turn valves are expected to have the highest demand due to their perceived lower cost, the rising demand for multi-turn valves, and depreciated currencies against the dollar will further impact the ability to purchase valves and actuators in the short term.
