Actuator Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Automotive, Transportation and Logistics | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC169

An actuator is a part accountable for controlling and moving a system or mechanism. A source of energy along with a control system is required for an actuator to function. The source of energy supplied can be hydraulic fluid pressure, pneumatic pressure, or electric current. The control signal can be electric current or voltage, human pressure or hydraulic or pneumatic pressure. The actuator responds after receiving control signal, by converting the energy into mechanical movement. Hydraulic actuator consists of a cylinder and fluid motor which is used to transform hydraulic power into mechanical movement. Pneumatic actuators convert energy produced by vacuum at high pressure or compressed air into either linear or rotary motion. Pneumatic energy can instantly respond in starting and stopping of the power sources thus, is beneficial for main engine controls. An electric actuator is mechanized by a motor that transforms electrical energy to mechanical movement. The electrical energy is used to trigger equipment like multi-turn valves. This is one of the readily available and cleanest forms of actuators owing to no involvement of oil in it. Mechanical actuator performs by transforming rotary motion to linear motion to perform the mechanism. It consists of gears, rails, chains, pulleys and several such devices for operation.
 
The actuators are used in several applications involving heavy machinery. Presently, the usage of actuators is in industries such as automobile, mining, healthcare, aerospace & defense. The advancement in technology, automation and miniaturization in equipment design are the factors driving the market growth. Also, increase in installation of automated systems in vehicles and reducing power utilization in aircraft are influencing the growth for actuators market. Additionally, the market highly depends on the launch of automotive vehicles, manufacturing of aircraft and defense programs executed by different nations. This has further led to the obtainment of low weight and energy-efficient actuators. Rapid industrialization and use of actuators in several applications is propelling the demand for actuators, globally. However, higher operational cost associated with manufacturing of actuators is hampering the market growth. With the growing applications of actuators in different industry verticals, the actuators market is anticipated to witness strong boost in coming years.
 
The global actuators market is segmented by product type, end-user industries, and geography. On the basis of product type, the market is segmented into pneumatic actuators, electric actuators, hydraulic actuators and mechanical actuators. Further, the end-user industry segment include aerospace and defense, automotive, power, oil & gas, iron & steel, food & beverages, mining, pulp & paper, chemical, water & waste water and others. Geographically, the market is bifurcated into North America, Europe, Asia Pacific, Middle East, Africa and Latin America. The automotive segment, under end-user industry, is dominating the market for actuators owing to increasing number of automotive vehicles.
 
Asia Pacific is leading the market for actuators followed by North America. The growth in Asia Pacific region is mainly due to the increased demand for actuators from automotive sector in developing countries such as India and China. Also, the recent changes taking place in the defense budgets of developing countries for improved air, marine and land defense equipment are predicted to influence the actuators market positively. 
 
Rotork Plc, Eaton Corporation Plc, Emerson Electric, Cair Euromatic Automation Pvt. Ltd, SAAB AB, SMC Corporation, AUMA Riester GmbH & Co. KG, Pentair PLC, Honeywell International Inc., Motion Systems Corp, Moog, Inc., Elger Controls India Private Ltd, Cameron International Corporation and Festo Ag & Co. Kg are some of the major key industry players operating in the global actuators market.
 

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