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An increase in industrialization and rising investments in automation for process in several industry verticals are some factors propelling the growth of the global actuators market. The increase in the need for greater control on the flexibility, improved energy efficiency, better positioning performance, and maintained robustness and reliability of existing technologies is growing the demand for actuators around the world. In addition, rising technological advancements in actuators, increasing demand for robots coupled with rising population and growing investments for the development of new infrastructure are some reasons paving the demand for actuators in the market during the forecast period. Moreover, industries are focussing on automating their operations for smooth functioning and increased productivity with efficiency. Rapid urbanization and the manufacturing of cost-effective actuators are leading to an increase in demand for actuators in the market. The factors hindering the growth of the global actuators market include the high maintenance cost and competitive pricing landscape.
An actuator is a device that generates a movement in a system or mechanism and also converts one form of energy into a mechanical movement. It changes a control signal into a mechanic action like an electric motor. These devices may be electric, hydraulic, pneumatic, thermal, or others but are mostly driven by some software. Actuators have two types of motion that are linear and rotary. The linear actuators are responsible for changing the energy into straight-line motions and mostly have a pull and push function. Rotary actuators convert the energy for providing a rotary motion.
Read Full Report Description: Global Actuators Market by Actuation (Pneumatic, Hydraulic, Electrical and Others), By Type (Rotary Actuators and Linear Actuators), By Application (Robotics, Industrial Automation and Vehicles & Equipment), By Vertical (Oil & Gas, Power Generation, Food & Beverages, Metals, Mining & Machinery, Chemicals, Paper & Plastics, Automotive, Pharmaceutical & Healthcare, Aerospace & Defence, Construction, Agriculture and Others) and By Geography – Opportunities & Forecast, 2019-2026. https://www.gmiresearch.com/report/global-actuators-market-pneumatic-hydraulic-electrical/
Electrical actuation segment is anticipated to grow at the highest compound annual growth rate during the forecast period owing to its enhanced precision control positioning and less noise production among the others. This type of actuation provides advantages such as no fluid leaks as a result of which it is causing no danger to the environment, smooth in operation coupled with good repeatability, and has the ability to be modified for almost any purpose or force required with fully controlled motion profiles. When maintained with proper maintenance then it can last for a long time with reliability and also have low operating and maintenance cost.
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Linear actuator is expected to rise at the highest compound annual growth rate during the forecast period due to its easy installation, less space requirement, highly reliable, and cost-effective use. Such type of actuators offers certain advantages which include higher design efficiency, shorter production time and higher quality making their increased adoption in several industries such as transportation, production machinery, manufacturing among others along with rising demand for industrial automation is also creating a demand for such actuators in the market during the forecast period.
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Robots application segment is expected to increase at the highest compound annual growth rate during the forecast period due to the increasing adoption of robots in several industries like electrical and electronics, automotive, among others. Shifting inclination of industries towards the factory automation for the production of goods and services is also driving the growth of the robots’ segment in the market.
Oil & Gas vertical is anticipated to dominate the market in the forecast period owing to its rising application in the industry as a result of a growing demand for liquified natural gas, gas storage along with the need for effective management of pressure drilling choke valves. The requirement of precision control of the flow of products through valves, explosion protection, and the requirement of seamless integration are some factors propelling the growth actuators in this industry.
Asia-Pacific is anticipated to increase at the highest compound annual growth rate during the forecast period due to rising investments for implementing automation by several countries such as China, Japan, along with the development of technologically advanced actuators leading to an increase in adoption of these devices in several industries. A high presence of industrial robot manufacturers in the region, coupled with increasing demand for industrial robots, is paving the way for increased demand for actuators in this region.
Various notable players operating in the global actuators market include Moog, Curtiss Wright, Rockwell Automation, SMC, IMI PLC, ABB, Tolomatic, Altra Industrial Motion, IAI, Venture Mfg. Co., SKF, Kollmorgen, Nook Industries Inc., Harmonic Drive LLC, and Misumi Group Inc., among others. ABB acquired Bernecker + Rainer Industrie – Elektronik GmbH (B&R). Through this acquisition, ABB expanded its digital offering by joining B& R’s software and application platforms and ABB’s industry-leading portfolio of digital solutions.
The global actuators market has been segmented on the basis of actuation, type, application, vertical, and key geographies. Based on actuation, the market is segmented into Pneumatic, Hydraulic, Electrical, and Others. Based on type, the market is segmented into Rotary Actuators and Linear Actuators. The application segment is categorized into Robotics, Industrial Automation, and Vehicles & Equipment. Based on vertical, the market is segmented into Oil & Gas, Power Generation, Food & Beverages, Metal, Mining & Machinery, Chemicals, Paper & Plastics, Automotive, Pharmaceutical & Healthcare, Aerospace & Defence, Construction, Agriculture and Others.
Key questions answered in this research report:
Global Actuators Market By Actuation
Global Actuators Market by Type
Global Actuators Market by Applications
Global Actuators Market by Verticals
Global Actuators Market by Region
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Actuators Leading Market Players (Option 5: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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