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Actuator Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

Category : Automotive, Transportation and Logistics | Published at : April-2021 | Delivery Format : PDF | Status: Published | Pages : 190

The market for actuator is expected to grow at a CAGR of around 7.3% from 2020 to 2027 and expected to reach the market value of around US$ 34.8 Bn by 2027.

An actuator is a device that transforms energy into motion using basic devices like wheel & axle, bolt, and lever or wedge. Actuators are commonly used to monitor friction and regulate flow in the manufacture of engines, generators, switches, and valves.

The report provides analysis of global Actuator market for the period 2017-2028, wherein 2021 to 2028 is the forecast period and 2020 is considered as the base year.

Report coverage

Market Actuator Market
Analysis Period 2016 - 2026
Base Year 2017
Forecast Data 2019 - 2026
Segments Covered By Type, By System, By End Use and By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Honeywell, IAV Automotive Engineering, Rotork, Eaton, Emerson, Rockwell Collins., and Others
Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Customization Scope 10 hrs of free customization and expert consultation

 

Market Dynamics

Growing demand from the automobile and energy industries is a major factor of global market growth of actuators. Increasing investment in process automation and rising demand for actuator from packaging, food processing, healthcare, etc. are added factors expected to support global market growth for actuators.

Late actuator wear and tear is projected to threaten global actuator demand development to some degree. Technological advancements such as actuator production with high precision and long product life are projected to generate new opportunities over the forecast period for major market players

Segment Instance of Global Actuator Market

Electrical Segment Leads the System Type Segment

The segment of electrical actuators is projected to show rapid growth in the actuators industry. Electrical actuation systems consider applications installed in aircraft that are secure to use, need low maintenance and simple to reconfigure relative to hydraulic and pneumatic actuation systems. It has resulted in strong demand for electrical actuator solutions, which is anticipated to be a leading force driving actuator market development. Leading corporations such as ITT, a diversified supplier of technologically designed critical part base & tailored development solutions, have widened their product selection by offering electrical actuator varieties. With the burgeoning demand from industry for smart and programmable actuator products, key companies are realizing the need to expand their current product offerings by including electric actuators in the existing offering framework.

North America accounted for the maximum revenue share in 2020

North America's business is projected to lead with a higher sales share in the global actuator industry relative to other national markets due to growing automation in the food and processing field, where actuators are used for deboner, food press, and others. In addition, well-developed healthcare market, where actuator is used for different purposes such as patient management, personal mobility, etc., and the involvement of many leading players operating in this region also contribute to the market growth. Europe's industry accounted for the second-largest portion of the overall actuator market followed by Asia Pacific. Asia Pacific market is expected to exhibit highest sales rise. This can be attributed to the rapid industrialization and existence of major players in the emerging economies of region.

The players profiled in the report include Honeywell, IAV Automotive Engineering, Rotork, Eaton, Emerson, Rockwell Collins., and Others

Market Segmentation

Actuator Market By Type

Rotary
Linear

Actuator Market By System

Hydraulic
Electrical
Mechanical
Pneumatic

Actuator Market By End Use

Automotive
Chemicals
Aerospace & Defence
Oil & Gas
Pharmaceutical
Power
Water & Wastewater
Food & Beverages
Mining & Metals

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa

Frequently Asked Questions

The market for Actuator is expected to reach a market value of around US$ 34.8 Bn by 2027.

The Actuator market is expected to grow at a CAGR of around 7.3% from 2020 to 2027.

Electrical is the leading segment by system type in the actuator market

Growing demand from the automobile and energy industries, increasing investment in process automation and rising demand for actuator from packaging, food processing, and healthcare sector among others are driving the market growth.

Honeywell, IAV Automotive Engineering, Rotork, Eaton, Emerson, and Rockwell Collins among others are some of the prominent players in the actuator market.

North America held the highest market share in the actuator market

Asia Pacific is expected to be the fastest growing market over the forecast period ?


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