Actuators Market size was valued at USD 62.89 Bn in 2023 and is expected to reach at USD 108.7 Bn by 2031, and grow at a CAGR of 7.08 % over the forecast period 2024-2031.
A mechanical component that aids in the conversion of energy into motion and regulates machinery, equipment, and systems is known as an actuator. The equipment is often powered by hydraulic and pneumatic forces and can be controlled manually, electrically, or via software. Actuators move in two directions: linear and rotational. The linear motion transforms energy for the purpose of placing other equipment and performing push and pull functions. Rotary motion, on the other hand, allows different ball and butterfly valves to move. Electric motors, solenoids, hard drive stepper motors, and comb drivers are the most popular types of actuators, and they have a wide range of applications in industries such as food and beverage, oil and gas, power generation, and metals and mining, chemicals, automotive, and aerospace.
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MARKET DYNAMICS:
KEY DRIVERS:
Actuator Technological Advancements.
The Number of Aircraft Carriages Is Increasing.
Global Automotive Industry Continues to Expand.
RESTRAINTS:
norms for competitive pricing.
Repairing leaks is a time-consuming process.
upkeep expenditures are high.
OPPORTUNITY:
Actuators are widely used in a variety of sectors.
Linear actuators play an essential role in everyday life
used exclusively for applications.
CHALLENGES:
The installation of pneumatic actuators is a time-consuming task.
Fluid leakage is a possibility, and fire is a possibility.
Erosion caused by fluid leaks is a significant issue.
IMPACT OF COVID-19:
Global supply chains and corporate procedures have been disrupted by the COVID-19 epidemic. While the pandemic had no effect on valve actuator demand in 2019, the market predictions take into account industry trends and how the COVID-19 pandemic would affect the valve actuators market in several vertical sectors. The current COVID-19 epidemic has had a negative impact on most industries that use actuators, including agricultural, healthcare, automotive, aerospace and defense, and food and beverage. Aside from the healthcare industry, practically every other industrial sector has experienced a decline. In addition, the application of lockdowns and quarantine rules in India, Canada, and European countries has disrupted the regular flow of commerce, demand for new projects, and income in important industries such as aviation, automotive, oil, and gas. These industries are often the most promising for the actuators industry.
MARKET ESTIMATION:
The growing usage of packing machines, medical equipment, manufacturing machinery, transportation, and aerospace and military industries can be contributed to the expansion in the type segment. Actuators are employed not only in the key functioning systems of a car but also in the bodywork and interior. As a result, demand for actuators in the automobile industry is increasing. At high speeds, electrical actuators give improved control and acceleration. The force used to deliver thrust may be programmed without the need for compressed air or associated equipment, and these actuators consume very little energy overall. Actuators utilized in automobiles, aviation, ships, and defense vehicles for motion control are included in the vehicles and equipment section. Actuators might be hydraulic, pneumatic, electrical, or mechanical. Actuators are widely employed in a variety of automotive, airplane, and ship systems, as well as defense vehicles.
On The Basis of Type
Linear Actuator
Rotary Actuator
On The Basis of Actuation
Electrical
Pneumatic
Hydraulic
Others
On The Basis of Application
Robotics
Vehicles and Equipment
On The Basis of Vertical
Food & Beverages
Oil & Gas
Metals, Mining, and Machinery
Power Generation
Chemicals, Paper, and Plastics
Pharmaceutical & Healthcare
Automotive
Aerospace & Defense
Marine
Electronics & Electrical
Construction
Agriculture
Utilities
Household & Entertainment
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REGIONAL ANALYSIS:
The market for actuators is divided into four major regions: the Americas, Europe, Asia Pacific, the Middle East, and Africa. The market in the Asia Pacific area has enormous potential. Over the next few years, the area is also predicted to dominate worldwide IoT development. IoT has been a hot topic in emerging markets like India and China. This includes the creation of smart cities and IoT-specific centers of excellence, which are projected to drive demand for actuators at the same time. During the projection period, the Asia Pacific market is expected to develop at the fastest rate. One of the most important locations for actuators is the Americas. In the foreseeable future, the American market has immense growth potential. To resuscitate growth, the company is increasing investments in the life sciences, automotive, food processing, and packaging sectors. As a result, the market in America is predicted to increase at a positive growth rate. Europe is a prominent location for electric two-wheelers, with a large market due to the existence of profitable nations such as Germany, the United Kingdom, and Norway. Furthermore, the region is home to major car manufacturers such as Audi, BMW, and Volvo, to name a few. This has a favorable impact on the market's growth as well.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are Crane Co., Emerson (Pentair Valves), Flowserve Corporation, General Electric Company, Imi PLC, Kitz Corporation, Metso Oyj (Neles Oyj), Parker-Hannifin Corporation, Rotork PLC, Schlumberger Limited and other players
Flowserve Corporation - Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 62.89 Billion |
| Market Size by 2031 | US$ 108.7 Billion |
| CAGR | CAGR of 7.08% From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Type (Linear Actuator and Rotary Actuator) • by Actuation (Electrical, Pneumatic, Hydraulic, Others) • by Application (Industrial automation, Robotics, Vehicles, and Equipment) • by Vertical (Food & Beverage, Oil & Gas, Metals, Mining, and Machinery, Power Generation, Chemicals, Paper, and Plastics, Pharmaceutical & Healthcare, Automotive, Aerospace & Defense, Marine, Electronics & Electrical, Construction, Agriculture, Utilities, Household & Entertainment.) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | CRANE CO., EMERSON (PENTAIR VALVES), FLOWSERVE CORPORATION, GENERAL ELECTRIC COMPANY, IMI PLC, KITZ CORPORATION, METSO OYJ (NELES OYJ), PARKER-HANNIFIN CORPORATION, ROTORK PLC, SCHLUMBERGER LIMITED. |
| Key Drivers | •Actuator Technological Advancements. •The Number of Aircraft Carriages Is Increasing. |
| Restraints | •norms for competitive pricing. •Repairing leaks is a time-consuming process. |
Ans: The Actuators Market size was valued at USD 62.89 Bn in 2023.
Ans: - Actuator Technological Advancements and the Number of Aircraft Carriages Is Increasing.
Ans: The Actuators Market is to grow at a CAGR of 7.08 % From 2024 to 2031.
Ans: - The major key players are CRANE CO., EMERSON (PENTAIR VALVES), FLOWSERVE CORPORATION, GENERAL ELECTRIC COMPANY, IMI PLC, KITZ CORPORATION, METSO OYJ (NELES OYJ), PARKER-HANNIFIN CORPORATION, ROTORK PLC, SCHLUMBERGER LIMITED.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Actuators Market Segmentation, by Type
8.1 Linear Actuator
8.2 Rotary Actuator
9. Actuators Market Segmentation, by Actuation
9.1 Electrical
9.2 Pneumatic
9.3 Hydraulic
9.4 Others
10. Actuators Market Segmentation, by Application
10.1 Industrial automation
10.2 Robotics
10.3 Vehicles and Equipment
11. Actuators Market Segmentation, by Vertical
11.1 Food & Beverages
11.2 Oil & Gas;
11.3 Metals, Mining, and Machinery
11.4 Power Generation
11.5 Chemicals, Paper, and Plastics
11.6 Pharmaceutical & Healthcare
11.7 Automotive
11.8 Aerospace & Defense
11.9 Marine
11.10 Electronics & Electrical
11.11 Construction
11.12 Agriculture
11.13 Utilities
11.14 Household & Entertainment.
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 CRANE CO.
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 EMERSON (PENTAIR VALVES)
13.3 FLOWSERVE CORPORATION
13.4 GENERAL ELECTRIC COMPANY
13.5 IMI PLC
13.6 KITZ CORPORATION
13.7 METSO OYJ (NELES OYJ)
13.8 PARKER-HANNIFIN CORPORATION
13.9 ROTORK PLC
13.10 SCHLUMBERGER LIMITED.
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14. 3 Recent Developments
15. Conclusion
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