Increased demand for advanced systems in automobiles to enhance comfort and safety is expected to drive the Global Actuators Market in the forecast period, 2024-2028.
According to TechSci Research report, “Actuators Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028,” the Global Actuators Market is anticipated to register a robust growth during the forecast period owing to the increase in demand for comfortable and safe vehicles. Global demand for actuators is increasing as people become more concerned with auto safety. The global actuator market is being driven by governments’ increased spending on the on-road vehicle safety as well as the enforcement of tight laws on vehicle safety. Market participants in the global actuators market are focusing on boosting production capacity in order to take advantage of business possibilities worldwide.
Moreover, the actuator is a crucial part of the electrically operated vehicle systems. The primary purpose of an actuator is to translate various types of signals into mechanical action. Different types of input signals are possible, including electrical, pneumatic, hydraulic, and mechanical actuators. Sales in the global actuators market have been fueled by electronic manufacturing’s importance across key industries. Actuator usage is expanding in the automotive sector, which has further fueled market expansion. Actuators are increasingly using electric and hydraulic technologies, which has increased demand for these components. The market’s sales have increased as a result of this factor. The study of mechanical technology in relation to smart gadgets is driving up demand for actuators globally.
Actuators are used in many different aspects of an airplane, including the landing gear, the flight controls, the seats, the doors, and more. Thus, increased production of new aircraft will increase demand in the upcoming years. The demand for air travel has risen recently as a result of the tremendous economic growth experienced in wealthy nations as well as rising economies like China, Africa, and India. Airlines must expand their fleet of aircraft as a result of the increase in air passenger volume. This demand has caused a rise in commercial aircraft deliveries, which is expected to fuel the global actuators market’s expansion.
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Global Actuators Market is segmented into motion, type, end-use industry, region and competitive landscape. Based on motion, the market is segmented into linear and rotary. Based on type, the market is divided into hydraulic, pneumatic, electric, and others. Based on end-use industry, it is categorized into aerospace & defense, automotive, construction, chemicals, food & beverages, healthcare & pharmaceuticals, marine, mining, oil & gas, power generation and others.
Due to increasing levels of industrial automation in the production facilities of the automotive, aerospace, and other industries, the linear actuators market segment is anticipated to be the largest throughout the projected period. Additionally, the market expansion is anticipated to be boosted by the key players’ focus on linear actuator technological advances.
Due to increasing levels of industrial automation in the production facilities of the automotive, aerospace, and other industries, the linear actuators market segment is anticipated to be the largest throughout the projected period. Additionally, the market expansion is anticipated to be boosted by the key players’ focus on linear actuator technological advances. For the South Korean LNG Terminal, Rotork PLC’s GP family of heavy-duty scotch yoke pneumatic actuators was chosen in November 2020. Due to the rising demand for electric actuators, which offer higher efficiency and lower power consumption, the electric segment is predicted to develop at a high CAGR over the forecast period.
Throughout the forecast period, the market is anticipated to be driven by the automotive sector, and then the aerospace sector. The introduction of industry 4.0 in automobile production facilities spurs the market’s expansion. A significant portion of actuators are used in additive manufacturing and robotics to automate industrial operations.
Key players in the Global Actuators market are:
- Eaton Corporation plc
- The Emerson Electric Company,
- Festo AG & Co. KG
- Flowserve Corporation
- Honeywell International Inc.
- KITZ Corporation, Rotork plc.
- SAMSON AG
- Tamagawa Seiki Co. Ltd.
- SMC Corporation
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“North America held the largest market share in the global actuators market in 2022. The presence of well-established and expanding automobile and aircraft production facilities in the area is credited with the rise. Due to the region’s increasing industrialization and urbanization, the market in Asia Pacific is anticipated to expand at the highest growth rate over the forecast period. Japan and China, two nations known for their expertise in the manufacturing industry, are concentrating on increasing their production and manufacturing capacities through investments in automation, hence contributing to the global actuators market’s growth.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Segmented By Motion (Linear and Rotary), By Type (Hydraulic, Pneumatic, Electric, and Others), By End-Use Industry (Aerospace & Defense, Automotive, Construction, Chemicals, Food & Beverages, Healthcare & Pharmaceuticals, Marine, Mining, Oil & Gas, Power Generation and Others), By Region, Competition Forecast & Opportunities, 2018-2028F,” has evaluated the future growth potential of Global Actuators Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Actuators Market.
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