The Actuators Market is projected to grow from USD 53.9 billion in 2021 to USD 86.6 billion by 2027, at a CAGR of 8.2% between 2021 and 2027. Increased demand for new and advanced actuators in different verticals and the development of smart cities across the globe are some of the growth opportunities for the Actuators Industry. Join us as we explore the key drivers, opportunities, challenges, and market players shaping this thriving industry.
Understanding Actuators:
Actuators are like the powerhouse behind motion and control systems, converting energy into motion. Whether it's linear or rotary, actuators play a vital role in various applications, sizes, and power configurations.
Driver: Healthcare's Call for Actuators:
Witness the surge in demand for actuators within the healthcare industry. From innovative medical devices to ventilators aiding patients with lung diseases, actuators are indispensable. The COVID-19 pandemic has further intensified the need for precise linear motion in RT-PCR testing, highlighting the vital role of actuators in healthcare.
Get a Deeper Understanding of the Industry by visiting: https://www.marketsandmarkets.com/Market-Reports/global-actuators-market-59465451.html
Driver: Industrialization and Robotics Revolution:
Explore how rapid industrialization and the robotics revolution are propelling the demand for actuators. With a focus on enhancing productivity and reducing downtime, actuators are the muscles behind industrial robots, influencing their functionality. The growth of the robotics sector, driven by decreasing prices and technological advancements, further fuels the demand for actuators.
Restraint: Oil Prices and Economic Slowdown:
Delve into the challenges posed by low oil prices and economic slowdown, impacting the valves and actuators market. The decline in capital expenditure in the oil & gas sector, coupled with intense competition, has created a need for customized solutions. The COVID-19 pandemic has added additional pressures, impacting CAPEX budgets across various industries.
Opportunity: The Versatility of Linear Actuators:
Discover the wide array of applications utilizing linear actuators, from agriculture and construction to healthcare and aerospace. Linear actuators, with their precise motion capabilities, are revolutionizing industries, providing reliability and efficiency. The automotive sector, in particular, benefits from the increased demand for luxury, electric, and driverless cars.
Challenge: Leakage Concerns in Pneumatic and Hydraulic Actuators:
Navigate the challenges posed by leakage issues in pneumatic and hydraulic actuators. Understand the complexities involved in maintaining these systems, the potential for fluid leakages, and the resulting threats to the market's growth. The focus is on addressing these concerns to ensure seamless operation.
Market Segmentation Insights:
This research report categorizes the Actuators Market based on Industry, Forecasting Type, Purpose, Organization Size, and Region:
Actuation Segment:
Electrical
Pneumatic
Hydraulic
Others
Application Segment:
Industrial Automation
Robotics
Vehicles and Equipment
Type Segment:
Linear Actuator
Rotary Actuator
Vertical Segment:
Food and Beverages
Oil and Gas
Metals, Mining, and Machinery
Power Generation
Chemicals, Paper, and Plastics
Pharmaceutical and Healthcare
Automotive
Aerospace and Defense
Marine
Electronics and Electrical
Construction
Agriculture
Utilities
Household and Entertainment
Regional Segment:
APAC
Europe
North America
South America
Middle East & Africa
RoW
Get an Instant 5% Discount, Hurry Up and Secure Your Copy Today: https://www.marketsandmarkets.com/discountreports.asp?id=59465451
Linear Actuators Take the Lead:
Explore the dominance of the linear actuator segment, especially the belt type, which finds extensive use in fast-moving automation systems. These actuators enhance operational efficiency in industries such as food & beverages and automobile manufacturing.
Industrial Robots Drive Growth:
Uncover the significance of actuators in industrial robots, particularly their role in large-scale manufacturing. Actuators designed for industrial robots offer cost-effective solutions without compromising performance, contributing to streamlined production processes.
Asia Pacific's Growth Story:
Asia Pacific emerges as a key player, accounting for 48.2% of the actuators market in 2021. Witness the continuous upgrade of capabilities in industries, especially in countries like China and Japan, investing strategically in robotics and automation.
Key Market Players:
Explore the giants shaping the Actuators Market, including ABB, Rockwell Automation, Altra Industrial Motion, Moog, SMC, Curtis Wright (Exlar), and MISUMI. Understand their global influence and contributions to the industry's growth.
As we navigate the dynamic landscape of the Actuators Market, it's evident that the synergy between technology, industry demands, and innovation is steering its trajectory. The healthcare sector's reliance, the industrialization wave, and the versatility of linear actuators showcase the industry's resilience. Challenges like leakage concerns call for proactive solutions, ensuring the continued growth of this indispensable market. The journey ahead promises innovation, reliability, and a pivotal role in shaping the industries of tomorrow.
Our Other Published Research:
Global Semiconductor Industry Outlook 2024: https://www.marketsandmarkets.com/Market-Reports/global-semiconductor-industry-outlook-2024-201471467.html
Airport Automation Market Outlook 2028: https://www.marketsandmarkets.com/Market-Reports/airport-automation-market-133408420.html
Robotic Warfare Market Outlook 2028: https://www.marketsandmarkets.com/Market-Reports/robotic-warfare-market-206201612.html
Aircraft Gearbox Market Outlook 2028: https://www.marketsandmarkets.com/Market-Reports/aircraft-gearbox-market-241445553.html
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]