Actuators Market Size, Growth, Price Analysis, Share to 2026 | Global Research Report by Fortune Business Insights™
Actuators Market is likelyto showcase notable growth in the coming years and reach USD 79.35billion by the end of 2027 on account of the advent of technologicaladvancement and the increasing need for the latest automated equipment byvarious end-user industries.
As per a recent report by FortuneBusiness Insights, titled, “Actuators Market Size, Share &COVID-19 Impact Analysis, By Motion (Linear and Rotary), By Type (Hydraulic,Pneumatic, Electric, and Others), By End-Use Industry (Aerospace & Defense,Automotive, Construction, Chemicals, and Others), and Regional Forecast,2020-2027,” the value of this market was USD 47.09billion in 2019. The forecast period is set between 2020 to 2027 andthe market is likely to exhibit a CAGR of 10.65%.
Most industries worldwide were impactednegatively by the current COVID-19 pandemic. Apart from the healthcare sector,most of the industrial sectors witnessed the downfall of the world economy.However, the governments of various nations are engaging in multiple strategiesto deal with this situation and we hope that life turns back to normal. FortuneBusiness Insights is offering special analytical reports on various marketsimpacted by the coronavirus pandemic. These reports will help investors takethe necessary financial decisions for multiple markets in the years to come.
Objectives of the Report:
The report is based on a comprehensiveanalysis of the market keeping in mind the prime boosting, repelling, andchallenging factors. It also throws light on the notable industry developments,major trends, and other interesting insights into the market. The report alsohighlights the table of segmentation in details and lists the names of thesegment in the leading position with market figures. For more information onthe report, log on to the company website.
Drivers & Restraints-
Development of Machine Learning andArtificial Intelligence Sectors to Aid in Expansion
An actuator comprises the key componentof all the machines used by various industries such as food, manufacturing,automotive and transportation, agriculture, healthcare industry, and others.This stands as a key factor driving the global actuators market growth. This,coupled with the rising population, growing urbanization, and the increasinguse of industrial robots for minimizing the chances of human errors are alsoexpected to aid in the expansion of the market. Additionally, the increasingdemand from aerospace and automotive industries is further expected to addimpetus to the market in the coming years.
On the contrary, installing andmaintaining pneumatic and hydraulic actuators is expensive, which may pose amajor challenge to the market in the coming years. This, coupled with thecurrent coronavirus pandemic that forced most of the international businessesto stay at a temporary halt may also hamper the market. Additionally, thepossibility of oil or water leakage and other damages of the actuator is likelyto cause hindrance to the market in the coming years.
Nevertheless, the rising demand forcommercial aircraft is expected to promote the growth of the market in theforecast period.
List of the Leading Companies Profiledin the Global Actuators Market are:
- Rockwell Automation, Inc. (Wisconsin, The U.S.)
- Venture MFG Co. (Ohio, The U.S.)
- ABB (Zurich, Switzerland)
- Rotork PLC (Bath, The U.K.)
- MISUMI (Tokyo, Japan)
- Curtiss-Wright Corporation (North Carolina, The U.S.)
- TAMAGAWA SEIKI Co. Ltd. (Nagano, Japan)
- Parker Hannifin Corporation (Ohio, The U.S.)
- Moog Inc. (New York, The U.S.)
- Eaton Corporation Inc. (Ohio, The U.S.)
- SMC Corporation (Tokyo, Japan)
- Emerson Electric Co. (Missouri, The U.S.)
Segment
Hydraulic Segment to Emerge DominantOwing to Growing Demand from Mining and Construction Sector
Based on segmentation by type, thehydraulic segment dominant the market shares in 2019. This is owing to theincreasing adoption of hydraulic actuators in heavy equipment used by variousapplication sectors such as mining, construction, agriculture, and others. Thisis further attributed to the integrated failure backup features and less powerconsumption. However, the electrical segment earned a 21% share and is likelyto exhibit significant growth in the forecast period.
Regional Analysis
North America Emerged Dominant Owing toGrowing Demand from Aerospace Industry
Regionally, North America earned USD16.48 billion in 2019 and gained the largest actuators market share. The growthof this region is attributed to the increasing demand from the aerospace anddefense sectors. Besides this, the market in Asia Pacific is likely to showrapid growth in the coming years with China and Japan in the leading position.This is accountable to the rapid industrialization and growing urbanization.Furthermore, the market in Europe and the Middle East and Africa will exhibitnotable growth in the coming years on account of the increasing manufacturingunits for automobile production of brands such as Audi, BMW, and others.
Competitive Landscape
Players Focusing on InnovativeTechnologies to Earn Lion’s Share
The global market for actuators isfragmented in nature attributable to the presence of many large andmedium-scale vendors. Companies such as Rotork PLC., Rockwell Automation, andothers are focusing on strengthening their product portfolio and specializingin pneumatic and hydraulic actuators to gain competitive edge. The otherplayers are engaging in the development of innovative technologies for gaininga competitive edge in the market.
Browse Detailed Overview of ThisResearch:
https://www.fortunebusinessinsights.com/actuators-market-103531
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Actuators Market
- Impact of the COVID-19 pandemic on the Global Actuators Market
- Steps taken by Industry/ Companies/ Governments to overcome the impact
- Key Developments in the Industry in Response to COVID-19 pandemic
- Potential opportunities due to COVID-19 Outbreak
- Global Actuators Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Motion (Value)
- Linear
- Rotary
- By Type (Value)
- Hydraulic
- Pneumatic
- Electric
- Others
- By End-Use Industry (Value)
- Aerospace & Defense
- Automotive
- Construction
- Chemicals
- Food & Beverages
- Healthcare & Pharmaceuticals
- Marine
- Mining
- Oil & Gas
- Power Generation
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued…!
Major Industry Developments of theMarket Include:
April 2019 – The Boeing Company awarded a contract to Moog Inc., forthe delivery of wing fold actuation and wing flight systems for an unmannedrefueling program of the U.S. Navy called MQ-25. This will help to build astrong foundation for the future of the company.
April 2017 – The control and valves business of Pentair wasacquired by Emerson Electric Co. for managing the production of control valves,regulators, and actuators, thereby strengthening the portfolio of the company.
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Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-actuator-market-10201
