The Actuators Market is projected to grow from USD 53.9 billion in 2021 to USD 86.6 billion by 2027, at a CAGR of 8.2% between 2021 and 2027. Increased demand for new and advanced actuators in different verticals and the development of smart cities across the globe are some of the growth opportunities for the Actuators Industry. Join us as we explore the key drivers, opportunities, challenges, and market players shaping this thriving industry.
Understanding Actuators:
Actuators are like the powerhouse behind motion and control systems, converting energy into motion. Whether it's linear or rotary, actuators play a vital role in various applications, sizes, and power configurations.
Driver: Healthcare's Call for Actuators:
Witness the surge in demand for actuators within the healthcare industry. From innovative medical devices to ventilators aiding patients with lung diseases, actuators are indispensable. The COVID-19 pandemic has further intensified the need for precise linear motion in RT-PCR testing, highlighting the vital role of actuators in healthcare.
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Driver: Industrialization and Robotics Revolution:
Explore how rapid industrialization and the robotics revolution are propelling the demand for actuators. With a focus on enhancing productivity and reducing downtime, actuators are the muscles behind industrial robots, influencing their functionality. The growth of the robotics sector, driven by decreasing prices and technological advancements, further fuels the demand for actuators.
Restraint: Oil Prices and Economic Slowdown:
Delve into the challenges posed by low oil prices and economic slowdown, impacting the valves and actuators market. The decline in capital expenditure in the oil & gas sector, coupled with intense competition, has created a need for customized solutions. The COVID-19 pandemic has added additional pressures, impacting CAPEX budgets across various industries.
Opportunity: The Versatility of Linear Actuators:
Discover the wide array of applications utilizing linear actuators, from agriculture and construction to healthcare and aerospace. Linear actuators, with their precise motion capabilities, are revolutionizing industries, providing reliability and efficiency. The automotive sector, in particular, benefits from the increased demand for luxury, electric, and driverless cars.
Challenge: Leakage Concerns in Pneumatic and Hydraulic Actuators:
Navigate the challenges posed by leakage issues in pneumatic and hydraulic actuators. Understand the complexities involved in maintaining these systems, the potential for fluid leakages, and the resulting threats to the market's growth. The focus is on addressing these concerns to ensure seamless operation.
Market Segmentation Insights:
This research report categorizes the Actuators Market based on Industry, Forecasting Type, Purpose, Organization Size, and Region:
Actuation Segment:
- Electrical
- Pneumatic
- Hydraulic
- Others
Application Segment:
- Industrial Automation
- Robotics
- Vehicles and Equipment
Type Segment:
- Linear Actuator
- Rotary Actuator
Vertical Segment:
- Food and Beverages
- Oil and Gas
- Metals, Mining, and Machinery
- Power Generation
- Chemicals, Paper, and Plastics
- Pharmaceutical and Healthcare
- Automotive
- Aerospace and Defense
- Marine
- Electronics and Electrical
- Construction
- Agriculture
- Utilities
- Household and Entertainment
Regional Segment:
- APAC
- Europe
- North America
- South America
- Middle East & Africa
- RoW
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Linear Actuators Take the Lead:
Explore the dominance of the linear actuator segment, especially the belt type, which finds extensive use in fast-moving automation systems. These actuators enhance operational efficiency in industries such as food & beverages and automobile manufacturing.
Industrial Robots Drive Growth:
Uncover the significance of actuators in industrial robots, particularly their role in large-scale manufacturing. Actuators designed for industrial robots offer cost-effective solutions without compromising performance, contributing to streamlined production processes.
Asia Pacific's Growth Story:
Asia Pacific emerges as a key player, accounting for 48.2% of the actuators market in 2021. Witness the continuous upgrade of capabilities in industries, especially in countries like China and Japan, investing strategically in robotics and automation.
Key Market Players:
Explore the giants shaping the Actuators Market, including ABB, Rockwell Automation, Altra Industrial Motion, Moog, SMC, Curtis Wright (Exlar), and MISUMI. Understand their global influence and contributions to the industry's growth.
As we navigate the dynamic landscape of the Actuators Market, it's evident that the synergy between technology, industry demands, and innovation is steering its trajectory. The healthcare sector's reliance, the industrialization wave, and the versatility of linear actuators showcase the industry's resilience. Challenges like leakage concerns call for proactive solutions, ensuring the continued growth of this indispensable market. The journey ahead promises innovation, reliability, and a pivotal role in shaping the industries of tomorrow.
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A linear actuator is an actuator that creates motion in a straight line, in contrast to the circular motion of a conventional electric motor.
Linear actuators are used in machine tools and industrial machinery, in computer peripherals such as disk drives and printers, in valves and dampers, and in many other places where linear motion is required.
Hydraulic or pneumatic cylinders inherently produce linear motion.Linear Actuators manufacturers range from large multinational corporations to small privately owned companies in this industry.
The leading players are Parker, Emerson, LINAK, THK, ABB, accounting for 20.09 percent revenue market share in 2018.The market segment by three types: Pneumatic Linear Actuators, Electric Linear Actuators and Hydraulic Linear Actuators.
The applications of Linear Actuators are Oil & Gas, General Industries, Chemical, Power and Other industries.
Oil & Gas and General Industries are the main application, which accounts for about 58.99% of total consumption in 2018.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-linear-actuators-2019-2024-542According to this study, over the next five years the Linear Actuators market will register a 4.1% CAGR in terms of revenue, the global market size will reach US$ 8928.5 million by 2024, from US$ 7297 million in 2019.
