Global Actuators Industry

Global Actuators Industry

  • February 2022 •
  • 729 pages •
  • Report ID: 5797766 •
  • Format: PDF
Abstract:

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Global Actuators Market to Reach $57 Billion by 2026

Actuators are critical devices used as components in assemblies for almost all industries, including automotive, aerospace, agriculture, manufacturing, solar, medical, and robotics. Rapid industrialization and urbanization are anticipated to be the major factors driving growth for the actuators market globally. Growth is set to be fueled by factors of growth in the automotive industry, growing demand for aircraft, as well as technological advancements leading to better performing actuators. Growing investment in renovations of existing infrastructure and also creation of new infrastructure present favorable growth opportunities. Demand for actuators would be strong in the oil and gas, marine and mining sectors as well. Several industries are currently focusing on automatization of their operations for enabling greater efficiency, increased precision and enhanced safety in their production operations. Growing focus on remote monitoring is also anticipated to fuel market growth.

Amid the COVID-19 crisis, the global market for Actuators estimated at US$43.1 Billion in the year 2020, is projected to reach a revised size of US$57 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Linear Actuators, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR to reach US$37.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Rotary Actuators segment is readjusted to a revised 4.1% CAGR for the next 7-year period. This segment currently accounts for a 38.5% share of the global Actuators market. Linear actuators generate pull/push action. Based on their adaptable design and flexibility, linear actuators are finding increasing adoption in military automation and spacecraft systems. Rotary actuators are gaining acceptance among several industries such as transportation, defense, manufacturing, and medical equipment. Rising integration of service and industrial robots is fueling demand for rotary actuators.

The U.S. Market is Estimated at $12 Billion in 2021, While China is Forecast to Reach $11.7 Billion by 2026

The Actuators market in the U.S. is estimated at US$12 Billion in the year 2021. The country currently accounts for a 27% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$11.7 Billion in the year 2026 trailing a CAGR of 7.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$12.6 Billion by the end of the analysis period. In the North American market, future demand for actuators would stem from the growing investments across various end-use sectors including food processing, automotive and life sciences among others. Strong demand from the defense and aerospace applications and growing process automation needs across all the major end-use sectors would also emerge as significant growth promoting factors. Growth of smart buildings, smart mobility, smart transportation, smart security and smart healthcare in the smart cities would provide major market growth opportunities in the Asia-Pacific region. China represents a lucrative actuators market owing to its status of being a global manufacturing hub. The country is not only the leading automotive manufacturer globally, but also a major producer of consumer electronics. These factors along with the positive economic progress are driving the actuator market in the country. In addition, cheap, bulk, eco-friendly and energy-efficient manufacturing coupled with development of various applications for new technologies is expected to help the actuators market in witnessing a lucrative growth.

Select Competitors (Total 139 Featured) -
  • ABB Limited
  • Altra Industrial Motion
  • Auma Riester GmbH & Co.
  • Cair Euromatic Automation Pvt Ltd.
  • Cameron International Corporation
  • Curtiss Wright
  • Eaton Corporation plc
  • Elger Controls India Private Ltd.
  • Festo AG & Co. KG
  • Flowserve Corporation
  • Harmonic Drive LLC
  • Honeywell International Inc.
  • Indelac Controls Inc.
  • KITZ Corporation
  • Micromatic LLC
  • MISUMI Group, Inc.
  • Moog, Inc.
  • Motion Systems Corp.
  • Pentair Plc.
  • Rockwell Automation, Inc.
  • Rotork Plc
  • SMC Corporation
  • Timotion Technology Co. Ltd.
  • The Emerson Electric Company