$74.5 Bn Actuators Market, 2024 - Key Players are ABB, Rockwell Automation, Altra Industrial Motion, Moog, SMC, Curtiss Wright, and MISUMI

DUBLIN, June 25, 2019 The "Actuators Market by Actuation (Electrical, Pneumatic, Hydraulic), Type (Linear, Rotary), Application (Industrial Automation, Robotics, Vehicles & Equipment), Vertical (Automotive, Electronics, Healthcare), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Actuators Market Size is Expected to Grow from USD 49.2 Billion in 2019 to USD 74.5 Billion by 2024, at a CAGR of 8.6% During the Forecast Period.

Technological advancements in actuators and rising demand for industrial automation are the major factors driving the growth of the actuators market, globally

The market for actuators is driven due to the increasing use of electric actuators and compact pneumatic actuators in robotics and automation applications across the globe. However, formulation and stringent implementation of various regulations to ensure increased safety reduced power consumption, and noise & leak elimination in actuators are expected to restrain the growth of the actuators market across the globe.

Pneumatic actuator to grow at highest CAGR during the forecast period in the actuators market

Based on actuation, the actuators market is segmented into pneumatic, hydraulic, electrical and others. The pneumatic actuation segment is projected to grow at the highest CAGR during the forecast period. Pneumatic actuators are expected to increase higher efficiency and greater levels of control. Major manufacturers of pneumatic actuators include Thomson Linear, SMC, ABB, Rockwell Automation, and Curtiss Wright, among others.

Vehicles and Equipment segment is estimated to account for the largest market share in the actuators market in 2019

The application segment of global actuators market has been segmented into robotics, industrial automation, and vehicles & equipment. The automation of parts includes various application areas across different industrial verticals where automation actuators are used. The robotics part consists of the robotic actuators required for industrial robots and the service robots which are used across various industrial verticals.

The demand for factory automation is increasing across industries due to the changing consumption patterns, and production of goods & services. For example, in the food & beverages industry, manufacturers are employing mass customization capabilities to address the changing needs of customers. The demand for vehicles and equipment is increasing, which is increasing the demand for actuators used in vehicles and equipment market.

The actuators market in the Asia Pacific is projected to grow at the highest CAGR

The Asia Pacific region is estimated to lead the global actuators market in 2019, and the trend is expected to continue during the forecast period. This region is upgrading various capabilities by undertaking developments in the field of actuators. China and India are primarily investing in robotics and automation to enhance and gain a tactical edge. This is an excellent opportunity for actuator manufacturers to strengthen their businesses in the Asia Pacific region.

The actuators market includes key players, such as ABB (Switzerland), Rockwell Automation (US), Altra Industrial Motion (US), Moog (US), SMC (Japan), Curtiss Wright (US), and MISUMI (Japan), among others.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Actuators Market
4.2 Actuators Market, By Actuation
4.3 Actuators Market, By Type
4.4 Actuators Market, By Region

5 Actuators Market, By Actuation
5.1 Introduction
5.2 Electrical
5.2.1 Increased Use of Electrical Actuators in Different Industries to Boost Their Demand Across the Globe
5.3 Hydraulic
5.3.1 Hydraulic Actuators are Increasingly Being Used in High-Force Applications
5.4 Pneumatic
5.4.1 Use of Pneumatic Actuators in Food & Beverages and Oil & Gas Industries to Fuel Their Demand Across the Globe
5.5 Others
5.5.1 Piezoelectric Actuators to Witness an Increased Demand During the Forecast Period

6 Actuators Market, By Application
6.1 Introduction
6.2 Industrial Automation
6.3 Robotics
6.3.1 Industrial Robots
6.3.2 Service Robots
6.4 Vehicles and Equipment

7 Actuators Market, By Type
7.1 Introduction
7.2 Linear Actuators
7.2.1 Rod Type Linear Actuators
7.2.1.1 Increasing Use of Rodless Type Linear Actuators in Aircraft Structures to Carry Loads Expected to Contribute to Their Demand
7.2.2 Screw Type Linear Actuators
7.2.2.1 Growing Use of Screw Type Linear Actuators With Servomotors in Drive and Control Hardware and Sensors to Fuel Their Demand
7.2.3 Belt Type Linear Actuators
7.2.3.1 Use of Belt Type Linear Actuators is Rising to Increase the Operational Efficiency of Process Automation
7.3 Rotary Actuators
7.3.1 Motors
7.3.1.1 Surging Sales of Industrial Robots to Fuel the Demand for Motor Rotary Actuators During the Forecast Period
7.3.2 Bladder & Vane
7.3.2.1 Increasing Use of Bladder & Vane Rotary Actuators in Gates and Valves Used in the Process Industry to Contribute to A Rise in Their Demand
7.3.3 Piston Type
7.3.3.1 Growing Use of Piston Type Rotary Actuators for Precision Control Applications in the Electronics Industry Expected to Fuel Their Demand

8 Actuators Market, By Vertical
8.1 Introduction
8.2 Food & Beverages
8.2.1 Requirement for Increased Automation and Capacity Enhancement of Existing Food & Beverages Plants Expected to Fuel Growth of Actuators Market for Food & Beverages
8.3 Oil & Gas
8.3.1 Increase in Oil & Gas Exploration Activities in Asia Pacific to Drive Growth of Actuators Market for Oil & Gas
8.4 Metals, Mining, and Machinery
8.4.1 Requirement for Robust Actuators in Mining Industry to Drive Growth of Actuators Market for Metals, Mining, and Machinery
8.5 Power Generation
8.5.1 Increased Spending on Renewable Sources of Energy for Power Generation is Expected to Increase Demand for Actuators Across the Globe
8.6 Chemicals, Paper, and Plastics
8.6.1 Rapid Industrialization and Stringent Implementation of Environmental Regulations are Driving Growth of Actuators Market for Chemicals, Paper, and Plastics
8.7 Pharmaceutical & Healthcare
8.7.1 Stringent Regulations for Hygiene and Increased Demand for Surgical Robots in Healthcare Industry Contributing to Growth of Actuators Market for Pharmaceutical & Healthcare
8.8 Automotive
8.8.1 Increased Demand for Industrial Robots in Automotive Sector to Drive Growth of Actuators Market for Automotive
8.9 Aerospace & Defense
8.9.1 Rise in Defense Expenditures, Increase in Commercial Aviation and Increase in Number of Military Modernization Programs Fueling Growth of Actuators Market for Aerospace & Defense
8.10 Marine
8.10.1 Increased Demand for Actuators for Commercial Shipbuilding Contributing to Growth of Actuators Market for Marine
8.11 Electronics & Electrical
8.11.1 Continuously Increasing Demand for Batteries, Chips, and Displays Leading to Growth of Actuators Market for Electronics & Electrical
8.12 Construction
8.12.1 Increased Demand for Electrical Linear Actuators in Construction Industry for Lifting and Material Handling Applications to Fuel Growth of Actuators Market for Construction
8.13 Utilities
8.13.1 Increased Demand for Logistics, Agriculture, and Field Robots Driving Growth of Actuators Market for Utilities
8.14 Household & Entertainment
8.14.1 Increased Demand for Service Robots in Domestic Applications Leading to Growth of Actuators Market for Household & Entertainment
8.15 Agriculture
8.15.1 Growing Adoption of Mechanization and Increasing Government Support Leading to Growth of Actuators Market for Agriculture

9 Regional Analysis

Company Profiles

• ABB
• Altra Industrial Motion
• Cedrat Technologies
• Curtis Wright (Exlar)
• DVG Automation
• Festo
• Harmonic Drive LLC
• IAI
• IMI PLC
• Introduction
• Kinitics Automation
• Kollmorgen
• Macron Dynamics
• MISUMI Group Inc.
• Moog
• Nook Industries, Inc.
• Rockwell Automation
• Rotomation
• SKF
• SMC
• Tolomatic
• Venture Mfg. Co.

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