Actuators are gaining traction in the global market with the increasing demand for industrial robots and process automation across different industries. Advanced actuators enhance productivity and reduce downtime in industrial facilities. Electrical actuators are increasingly replacing hydraulic and pneumatic actuators as the latter has higher efficiency and greater levels of control.
MARKET DYNAMICS
The actuator market is anticipated to grow in the forecast period owing to driving factors such as ongoing technological advances in actuators, coupled with an increasing number of new air travelers and aircraft deliveries. Also, growing investments for process automation in industries in developing nations is likely to propel the market growth. On the other hand, volatility in crude oil prices may hinder the growth of the actuator market during the forecast period. Nonetheless, the development of smart cities is likely to offer lucrative opportunities for the key players operating in the actuator market in the coming years.
MARKET SCOPE
The "Global Actuator Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of actuator market with detailed market segmentation by type, actuation, application, industry vertical, and geography. The global actuator market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading actuator market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global actuator market is segmented on the basis of type, actuation, application, and industry vertical. Based on type, the market is segmented as linear actuators and rotary actuators. By actuation, the market is segmented as hydraulic, pneumatic, and electrical. On the basis of the application, the market is segmented as industrial automation, vehicles and equipment, and robotics. The market on the basis of the industry vertical is classified as food & beverages, oil & gas, power generation, automotive, aerospace & defense, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global actuator market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The actuator market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting actuator market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the actuator market in these regions.
MARKET PLAYERS
The reports cover key developments in the actuator market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from actuator market are anticipated to lucrative growth opportunities in the future with the rising demand for actuator in the global market. Below mentioned is the list of few companies engaged in the actuator market.
The report also includes the profiles of key actuator companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- ABB Ltd.
- Altra Industrial Motion Corp.
- Curtiss-Wright Corporation
- IMI plc
- MISUMI Group Inc.
- Moog Inc.
- Rockwell Automation, Inc.
- SMC Corporation of America
- Tolomatic, Inc.
- Venture Mfg Co.