Industrial Actuators Market Size shall reach a value of $35.67 Billion in 2027, growing with a CAGR of 4.16% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
An Industrial actuator is an element of a machine that is accountable for controlling and moving a system or mechanism, for instance, by opening a valve. Industrial actuators are produced to provide compatible operations even in difficult environments. These tools are extensively employed by external energy sources, commonly electric current, hydraulic fluid pressure, and pneumatic pressure which is then converted into motion.
Industrial actuators are referred to as a captive of the motion world. They generally offer less resolution and accuracy than exact stages on the order of millimeters other than microns. Industrial actuators are accessible with IP-rated enclosures. For instance, they may promote Delrin blocks sliding on bare metal rails instead of linear guides. When the blocks strain over different years, they are restored.
Industrial actuators are available in different sizes, types, and power structures. They are utilized in a wide range of applications where linear positioning is required.
Industrial Actuators Market Growth and Trends
Driving factors for the industry :
• Rising demand in the industrial actuator market are used in conversion of energy into motion and in controlling and moving system applications of the industry by driving the demand and growth of the industrial actuator market.
• Increasing demand for automation and industrialization mainly in developed and developing countries across the world is propelling the demand for the industrial actuators and thereby increasing the market growth.
• Growing investment by the end-use consumer in manufacturing expansion modification, upgradation and other production facilities in the developing country and is anticipated to boost the industrial actuator market.
• Implementation of new technology and expansion of industries are also two of the major factors bolstering the industrial actuator market growth.
• North America, Asia-Pacific, Africa, Europe is expected to hold a significant position in rising the industrial actuator market due to rising investment in various industries of water, chemical, energy and power. Therefore, boost the adoption of industrial actuator triggering market growth.
• The industrial actuator is extensively used in offshore and on shore application due to their high pressure and corrosive with standing capacity occurring in production refinery and other manufacturing platform.
• Increasing demand for good quality drinking water is also primary growth stimulants for the industrial actuators market.
• The two most important factors fueling the industrial actuators market are high accuracy & efficiency, and requirement of low maintenance, thereby ensuring rapid market growth of the industrial actuator market.
Challenges for the industry :
• Growing awareness and strict govt regulations for reduction of air pollution specially the activity related to oil and gas industry and thereby adversely affecting the demand for industrial actuator and also restricting the global growth.
• Fluctuation in raw material prices like crude oil is also one of the factors hindering the global industrial actuators markets in the upcoming years. The oil and gas industry needs to specifically abide by the safety regulations to reduce air pollution caused due to emission of toxic gasses.
• Sluggish rate of activities in the manufacturing industries also restrains the growth of the market.
Industrial Actuators Market Regional Analysis
The Asia Pacific region is expected to dominate the market and projected to grow at the highest CAGR because of the development in advanced and affordable actuators and the increased investments in the automotive industry. European countries are also developing at a tremendous rate because of the rapid expansion of the linear actuator as it is widely used in several industries. The North American region, which mainly includes countries like Canada and the United States that will grow rapidly because of the development in the robotics segment used in several industries such as automotive and electronics. Norway, Denmark, and Saudi Arabia will also profit due to rapid industrialization.
Industrial Actuators Market Share and Competition
Key companies operating in this industry are: Emerson Electric Corporation, Honeywell International Inc., Eaton Corporation Inc., Flowserve Corporation, KSB Group, KITZ Corporation, Weir Group plc, Pentair plc, Valvitalia Group, and Rotork plc. Similar industries in this domain that is growing at a high CAGR include Aircraft Thrust Reverser Actuator Market and Aircraft Actuators Market.
Industrial Actuators Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Analysis (Revenue, USD Million, 2020 - 2027)
• Linear Actuators
• Rotary Actuators
System Analysis (Revenue, USD Million, 2020 - 2027)
• Mechanical Actuators
• Hydraulic Actuators
• Electrical Actuators
• Pneumatic Actuators
End-user Analysis (Revenue, USD Million, 2020 - 2027)
• Oil & Gas
• Chemical
• Energy & Power
• Water Treatment
• Food & Beverages
• Others
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Industrial Actuators Market Companies
• Emerson Electric Corporation
• Honeywell International Inc.
• Eaton Corporation Inc.
• Flowserve Corporation
• KSB Group
• KITZ Corporation
• Weir Group plc
• Pentair plc
• Valvitalia Group
• Rotork plc
Available Versions: -
United States Industrial Actuators Market Research Report
Europe Industrial Actuators Market Research Report
Asia Pacific Industrial Actuators Market Research Report
India Industrial Actuators Market Research Report
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