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Actuators Market, By Actuation (Electrical, Pneumatic, Hydraulic, Others) By Type {Linear (Rod Type

Published Date: April 2020 | Report Code : EQ2058682

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Actuators Market, By Actuation (Electrical, Pneumatic, Hydraulic, Others) By Type {Linear (Rod Type Linear Actuators, Screw Type Linear Actuators, Belt Type Linear Actuators), Rotary (Motors, Bladder & Vane, Piston)} Application (Industrial Automation, Robotics, Vehicles & Equipment) By End User (Automotive & Transportation, Aerospace & Defense, Electronics & Electrical, Metals, Mining, And Machinery, Pharmaceutical & Healthcare, Food & Beverages, Oil & Gas, Power Generation & Utilities, Chemicals, Paper, And Plastics, Others) By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of The World) – Market Size & Forecasting To 2028

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Domain : Equipment

Report Code : EQ2058682

Status : Published April 2020

This research report categorizes the actuators market based on various segments, provides market size estimations and forecasts and highlights key trends in each of the submarkets. The report identifies key drivers, opportunities, and challenges that influence the actuators market dynamics. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment of the actuators market. Recent market developments and competitive strategies such as expansion, product launch and developments, partnerships, mergers, and acquisitions have been included in order to draw the competitive landscape of the actuators market.

DROCACTUATORS MARKET: DROC, 2020 & 2028

Actuators are used to convert the energy provided by either electric, pneumatic, or hydraulic source to mechanical movement. They trigger an action in a system. The notable property of an automatic actuator is the high response and high thrust, which helps in providing an excellent solution for accurate spring and bump stops. They are one of the most essential mechanisms in manufacturing and processing industries, which not only control the flow but also the rate, volume, pressure, or the direction of fluids. In addition, they play a major role in applications such as oil & gas, paper & pulp, energy & power, automotive, chemical, iron & steel, and construction.

Market SegmentationACTUATORS MARKET: MARKET SEGMENTATION, 2020 & 2028

Fast growing manufacturing and processing industry sector, safety assurance, and less requirement of manual handling have further supported the growth of the global actuators market. These are highly effective and safe as compared to other controlling techniques due to their compact size and ability to regulate fluids without continuous human observation. However, high maintenance cost and laborious installation in certain conditions are expected to limit the market growth. Technological advancements in actuators technology and a decline in prices are anticipated to provide potential growth opportunities for the market. Actuators Market is anticipated to register a CAGR of 8.6% to attain a market size of around $90,482.26 million by 2028 from $ 46,781.37 million in 2020.

The key factors that are driving the actuators market are industrialization and urbanization. There is a huge investment made in the infrastructure and renewal of the plants, which is positively contributing to the growth of the actuators market. The factors such as technological developments, increasing population, automation of the manufacturing plants, and extraction of natural resources from difficult locations will act as drivers for the market growth in the coming years. Many industries are compelling in automating the operations for greater efficiency, improved safety and increased accuracy in the production. In recent times, there was a rise in demand for remote monitoring, which also acted as added factor to the actuators market growth. Various sectors where the actuators are used include oil and gas, aerospace and defense, automotive, mining and marine. There is a great demand for the oil and gas industry owing to the growing demand of applications from the sectors such as gas and liquid pipelines, gas storage and liquefied natural gas. The factor that hampers the market growth is the competitive standards of pricing and the ability of the suppliers to meet the requirements of the consumer.

Acuation

ACTUATORS MARKET: BY ACTUATION, 2020 & 2028

Based on actuation, actuators market segmented into Electrical, Pneumatic, Hydraulic, and Others. Among these electric actuators accounted for the largest share of ~41.1% in the global actuators market in 2019. This market is valued at $19,360.8 million in 2020 and is poised to grow at a CAGR of 9.3% during the forecast period. Electric actuators are more affordable than other types of actuators and generally benefit from simpler, cleaner, and more energy-efficient power transmission. This market is also expected to grow at the fastest CAGR of during the forecast period.

By Type

ACTUATORS MARKET: BY TYPE, 2020 & 2028

Based on type, actuators market segmented into Linear Actuators and Rotary Actuators. Linear actuators accounted for the largest share of ~65.1% in the global actuators in 2019. This market is valued at $30,453.3 million in 2020 and is poised to grow at a CAGR of 9.1% during the forecast period. These are also expected to grow at the fastest CAGR during the forecast period. Linear actuators are used primarily in automation applications. They are used in a wide range of industries where positioning is needed.

Rotary Type

LINEAR ACTUATORS MARKET: BY TYPE, 2020 & 2028

Based on type, linear actuators segmented into Rod Type Linear Actuators, Screw Type Linear Actuators, and Belt Type Linear Actuators. Rod type linear actuators accounted for the largest share of ~41.1% in the global linear actuators in 2019. This market is valued at $11,540.3 million in 2020 and is poised to grow at a CAGR of 9.8% during the forecast period.

Rotary Type

ROTARY ACTUATORS MARKET: BY TYPE, 2020 & 2028

Based on type, rotary actuators segmented into Motors, Bladder & Vane, and Piston Type. Motors rotary actuators accounted for the largest share of ~46.3% in the global rotary actuators in 2019. This market is valued at $7,574.1 million in 2020 and is poised to grow at a CAGR of 8.1% during the forecast period.

APPLICATION

ACTUATORS MARKET: BY APPLICATION, 2020 & 2028

Based on application, actuators market segmented into Industrial Automation, Robotics, and Vehicles & Equipment. Industrial automation accounted for the largest share of ~44.0% in the global actuators market in 2019. This market is valued at $20,617.9 million in 2020 and is poised to grow at a CAGR of 8.7% during the forecast. The large share of this market is mainly attributed to increased utilization of automated machinery or systems in manufacturing facilities. However, robotics is expected to grow at the fastest CAGR of 9.3% during the forecast period.

end user

ACTUATORS MARKET: BY END USERS, 2020 & 2028

On the basis of end users, actuators market segmented into Food & Beverages; Oil & Gas; Metals, Mining, and Machinery; Power Generation & Utilities; Chemicals, Paper, and Plastics; Pharmaceutical & Healthcare; Automotive & Transportation; Aerospace & Defense; Electronics & Electrical; and Others. Among these Automotive & Transportation accounted for the largest share of ~25.0% in the global actuators market in 2019. This market is valued at $11,777.2 million in 2020 and is poised to grow at a CAGR of 8.5% during the forecast period. The large share of this market is mainly attributed to huge and growing automobile production in developing market, especially China and India; technological advancements in automotive industry; and presence of large number of automotive actuator manufacturing companies. However, Aerospace & Defense is expected to grow at the fastest CAGR of 10.5% during the forecast period. The significant growth of this market is mainly due to increasing focus on safety; need to meet strict quality standards; and growing utilization of lightweight and versatile components to keep fuel costs and aircraft weight down.

By Region

ACTUATORS MARKET: BY REGION, 2017-2028

On the basis of the region, Actuators market has been segmented by North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, and Rest of the World. Increase in aircraft orders, advancement in space research leading, growing automotive industry, rapid industrialization in developing economies will drive industry growth over the forecast period.

Asia Pacifc accounted for the largest share of ~40.6% in the global actuators market in 2019. Asia Pacific Actuators market is expected to reach USD 40,866.7 million by 2028 from USD 19,228.6 million in 2020 at a CAGR of 9.9% between 2020 and 2028. APAC has the highest potential to take the leading position in the actuators market, given the massive surge in IoT technology. IoT has been a major focus in developing countries like India and China, including the establishment of smart cities and other IoT-backed centers. This reguin is also expected grow at fastest CAGR during forecast period.

Key Developments

  • In March 2020, SMC Corporation   launched battery-less abcolute encoder type electric actuators LE Series (LE-ML-P-X117).
  • In March 2020, IAI launched EC Elecylinder simple electrical actuator series. This series is considered as a user friendly device.
  • In February 2020, ABB launched xP plus which is used in the paper industry that helps in efficient and flexible induction heating actuator system.
  • In March, 2018 Moog Inc. opened Moog Electro-Mechanical (EM) Solutions India Pvt Ltd. factory in Bangalore’s Dabaspet Industrial Area to develop servo motors actuators and other EM products. This unit has expanded the presence of Moog in the Asia Pacific region

Major Companies: Rockwell Automation, Moog Inc., Smc Corporation, Curtiss-Wright Corporation, IMI PLC, ABB Ltd., Altra Industrial Motion, Tolomatic Technologies, Venture Mfg Co, IAI, SKF, Harmonic Drive Llc, Nook Industries Inc., Kollmorgen Corp., Misumi Group Inc., Dvg Automation., Macron Dynamics., Rotomation Inc., Cedrat Technologies, Kinitics Automation

Market Segmentation:

By Actuation:

  • Electrical
  • Pneumatic
  • Hydraulic
  • Others

By Type:

  • Linear
    • Rod Type Linear Actuators
    • Screw Type Linear Actuators
    • Belt Type Linear Actuators
  • Rotary
    • Motors
    • Bladder & Vane
    • Piston

By Application:

  • Industrial Automation
  • Robotics
  • Vehicles & Equipment

By End User:

  • Automotive & Transportation
  • Aerospace & Defense
  • Electronics & Electrical
  • Metals, Mining, And Machinery
  • Pharmaceutical & Healthcare
  • Food & Beverages
  • Oil & Gas
  • Power Generation & Utilities
  • Chemicals, Paper, And Plastics
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • ByActuation
    • By Type
    • By Application
    • By End User
  • Western Europe:
    • By Country (Germany, UK, France, Spain, Italy, Rest of Western Europe)
    • ByActuation
    • By Type
    • By Application
    • By End User
  • Eastern Europe:
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • ByActuation
    • By Type
    • By Application
    • By End User
  • Asia Pacific
    • By Country (China, Japan, India, Australia, Taiwan, Malaysia, South Korea, Rest of Asia Pacific)
    • ByActuation
    • By Type
    • By Application
    • By End User
  • Middle East:
    • By Country (UAE, Qatar, Saudi Arabia, Rest of Middle East)
    • ByActuation
    • By Type
    • By Application
    • By End User
  • Rest of the World
    • By Region (South America, Africa, Rest of the World)
    • ByActuation
    • By Type
    • By Application
    • By End User

Reasons To Buy This Report:

  • Market size estimation of the global actuator market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact: [email protected]

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