Contents:
- Actuators Market Size, Share, Growth Statistics By Top Key Players
- Electric Linear Actuator market
Introduction:
Actuators are devices used to convert energy into mechanical motion or force. They are used in a variety of industries and applications, such as manufacturing, aerospace, and robotics, to control and automate processes. The global market for actuators is expected to grow significantly in the coming years, driven by the increasing demand for automation and the development of advanced technologies. In this report, we will explore the current state of the global actuators market, including its size, share, and growth statistics, as well as the top key players in the industry.
Market Overview:
The global market for actuators was valued at USD 44.67 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028, according to a recent report by Grand View Research. The increasing demand for automation in various industries, such as automotive, aerospace, and healthcare, is one of the key drivers of the growth of the actuators market. In addition, the development of advanced technologies, such as smart actuators, is also contributing to the growth of the market.
The market is segmented based on product type, end-use industry, and region. Based on product type, the market is segmented into electric, hydraulic, and pneumatic actuators. The electric actuators segment is expected to grow at the highest CAGR during the forecast period, driven by the increasing adoption of electric vehicles and the development of electric actuators that are more efficient and cost-effective.
Based on end-use industry, the market is segmented into automotive, aerospace, healthcare, and others. The automotive industry is the largest end-use industry for actuators, accounting for the highest market share. The increasing demand for advanced safety features and the development of electric vehicles are the key drivers of the growth of the automotive industry in the actuators market.
Regional Analysis:
The global actuators market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. Asia-Pacific is the largest market for actuators, accounting for the highest market share. The increasing demand for automation in various industries, such as automotive and aerospace, and the presence of major manufacturers in the region are the key factors driving the growth of the actuators market in Asia-Pacific.
North America and Europe are also significant markets for actuators, driven by the increasing adoption of advanced technologies and the development of electric vehicles in the region. The Middle East and Africa and South America are expected to witness moderate growth in the coming years, driven by the increasing demand for automation and the development of infrastructure in the region.
Key Players:
The global actuators market is highly competitive, with several major players operating in the industry. Some of the top key players in the market include:
- FIRGELLI Automation Inc.
- Emerson Electric Co.
- Parker Hannifin Corporation
- Flowserve Corporation
- Rotork plc
- General Electric Company
- ABB Ltd.
- Siemens AG
- Curtiss-Wright Corporation
- SMC Corporation
These players are focusing on expanding their product portfolios, developing advanced technologies, and entering into strategic partnerships and collaborations to strengthen their position in the market. For example, in May 2021, Honeywell International Inc. launched a new range of smart actuators that offer enhanced accuracy and reliability, and can be easily integrated into existing systems.
Market Drivers:
The global actuators market is driven by various factors, including the increasing demand for automation and the development of advanced technologies. Here are some of the key drivers of the global actuators market:
- Increasing Demand for Automation: The increasing demand for automation in various industries, such as automotive, aerospace, and healthcare, is one of the primary drivers of the growth of the actuators market. The use of actuators in automated systems helps in improving the efficiency of the process, reducing human error, and increasing productivity.
- Development of Advanced Technologies: The development of advanced technologies, such as smart actuators, is also contributing to the growth of the market. Smart actuators are equipped with sensors and other electronic components that allow them to communicate with other devices in the system and adjust their performance based on the input received.
- Growing Adoption of Electric Vehicles: The growing adoption of electric vehicles is driving the demand for electric actuators, which are more efficient and cost-effective than hydraulic and pneumatic actuators. The increasing focus on reducing carbon emissions and improving fuel efficiency is driving the adoption of electric vehicles, which, in turn, is driving the growth of the electric actuators market.
- Increasing Demand for Safety Features: The increasing demand for advanced safety features, such as automated braking and lane departure warning systems, is driving the demand for actuators in the automotive industry. Actuators are used to control various systems in the vehicle, such as the steering, braking, and transmission, and help in improving the safety and reliability of the vehicle.
- Growth of Aerospace Industry: The growth of the aerospace industry is driving the demand for actuators in aircraft systems, such as landing gear and flight control systems. The increasing focus on improving fuel efficiency and reducing emissions is driving the adoption of advanced technologies, such as electric actuators, in aircraft systems.
2. Electric Linear Actuator market
Electric linear actuators are devices that convert electrical energy into linear motion. These actuators are used in various applications such as robotics, aerospace, automotive, healthcare, and home automation. The global electric linear actuators market is expected to witness significant growth in the coming years due to the increasing demand for automation across various industries. The market is expected to be driven by technological advancements, growing investments in automation, and increasing demand for energy-efficient solutions.
The report provides a comprehensive analysis of the electric linear actuators market, including market size, market share, growth statistics, and key players. The report covers the historical and forecasted data for the period 2021-2026.
Market Overview:
The global electric linear actuators market size was valued at USD 13.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2026. The market is driven by the growing demand for automation across various industries, especially in the manufacturing and healthcare sectors. Additionally, the increasing demand for energy-efficient solutions and the growing adoption of electric vehicles are also expected to drive market growth.
Market Segmentation:
The electric linear actuators market is segmented on the basis of type, application, and region.
By Type:
- DC Actuators
- AC Actuators
By Application:
- Industrial Automation
- Aerospace and Defense
- Automotive
- Healthcare
- Others
By Region:
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape:
The global electric linear actuators market is highly competitive, with a large number of players operating in the market. Some of the key players in the market are Thomson Industries Inc., Parker Hannifin Corp, SKF Group, Kollmorgen, and TiMOTION Technology Co., Ltd. These companies are focusing on product innovation, mergers and acquisitions, and partnerships to gain a competitive edge in the market.
Regional Analysis:
The Asia-Pacific region is expected to dominate the electric linear actuators market during the forecast period. The increasing demand for automation in the manufacturing sector, especially in China and India, is expected to drive market growth in the region. Additionally, the growing adoption of electric vehicles in the region is also expected to fuel market growth.
North America is expected to be the second-largest market for electric linear actuators. The market in this region is driven by the increasing demand for automation in the healthcare and aerospace sectors. Europe is expected to witness significant growth due to the increasing adoption of electric linear actuators in the automotive industry.
Conclusion:
The global electric linear actuators market is expected to witness significant growth in the coming years. The market is driven by the increasing demand for automation, the growing adoption of energy-efficient solutions, and the increasing demand for electric vehicles. The market is highly competitive, with a large number of players operating in the market. The Asia-Pacific region is expected to dominate the market, followed by North America and Europe.
The global market for just actuators is expected to grow significantly in the coming years, driven by the increasing demand for automation and the development of advanced technologies. The market is highly competitive, with several major players operating in the industry. The increasing adoption of electric vehicles, the growing demand for safety features, and the growth of the aerospace industry are some of the key drivers of the growth of the actuators market. The market is expected to witness significant growth in Asia-Pacific, driven by the increasing demand for automation in various industries and the presence of major manufacturers in the region.
What are the main data sources?
- Market Research Reports: There are many market research firms that publish reports on the global actuators market, which can provide valuable insights into market trends, growth statistics, and key players. Some well-known firms include MarketsandMarkets, Technavio, and Allied Market Research.
- Company Annual Reports: Publicly traded companies in the actuators industry often publish annual reports that provide insights into their financial performance, market share, and growth strategies.
- Industry Associations: Industry associations, such as the International Society of Automation (ISA) and the Robotics Industries Association (RIA), can provide valuable information on industry trends and best practices.
- Government Reports: Government reports from agencies such as the U.S. Department of Commerce and the European Union can provide information on the regulatory environment, industry trends, and market opportunities.
- News Articles: News articles from reputable sources can provide up-to-date information on industry trends, new product launches, and mergers and acquisitions.
