Actuators Market Size, Share & COVID-19 Impact Analysis, 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), and Regional Forecast, 2022-2029

The global actuators market size was valued at USD 41.62 billion in 2021. The market is projected to grow from USD 44.60 billion in 2022 to USD 98.92 billion by 2029, exhibiting a CAGR of 12.05% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with witnessing a lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of -17.0% in 2020 as compared to 2019.

现在的行业on automated processes & machinery due to their excellent performance and less need for human intervention. Actuators play a vital role in the functioning of such automated equipment. They also help in controlling the motion of the system, thereby ensuring a seamless and easy operation. With the increased demand for automation and increased productivity and efficiency of several industrial processes, there has also been a rise in demand for actuators systems. The actuators market growth is attributed to the rising demand by global oil & gas, commercial, and transportation industries.

COVID-19 IMPACT

COVID-19 Outbreak Negatively Affected Actuator Market Due to Decline in Manufacturing Sector

The COVID-19 pandemic has negatively affected the automation industry. Large companies are suffering major losses due to the country-wide lockdown. Before the pandemic, investments in the automation sector have been slow and now are anticipated to be postponed or on hold for almost a year. Countries across the globe prioritized its aerospace, defense, and automotive industry expenditure to the healthcare industry to build the required infrastructure facilities to tackle the spread of COVID-19. This has largely affected the growth of the market.

• According to the U.S. federal reserves, every year the U.S. factory production shrinks 1.3% and it is expected to experience a further decrease in the manufacturing sector in the U.S. and across the globe.

This has drastically impacted the implementation of advanced machines and equipment in the manufacturing sector. This has further impacted the demand for the actuators in the manufacturing industry in recent years.

However, the halt imposed on industrial production and manufacturing helped the manufacturing sector realize its dependence on human labor. This, in turn, is anticipated to divert the focus on the usage of robotics and automation in the post-pandemic period. The companies can take advantage of demand slowdown and adaptindustry 4.0capabilities to compete in the upcoming race of production.

LATEST TRENDS

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Rapid Adoption of Smart Actuators in Industries to Spur Growth

The introduction of advanced technologies to develop smart actuator is the latest trend in the market. A smart actuator is an integrated of all components such as sensors, motor, communication unit, and controller. The robots used in various industries are linked to a smart actuator that can be easily reconfigured, assembled, or disassembled. The growing use of smart actuators will enhance the automation and control capabilities available in the field.

Smart actuators provide numerous advantages such as increased productivity and efficiency, enhanced controllability and diagnostic capabilities, minimizing complexity and less cabling, reduced software and hardware costs, improved machine functionality, and others.

• In May 2020, AUMA launched high-performance PROFOX actuator series with advanced features. It has built-in intelligence, low operating costs, high mechanical efficiency, compact design. It is suitable for various industries such as combined heat and power plants, process industries, shipbuilding, and water treatment.

DRIVING FACTORS

Growing Industrial Automation Expected to Increase the Demand for Actuators

With developments in robotics,artificial intelligence, and machine learning, the trend of automation has increased. An actuator is an important component used in all actuation systems, and it helps to automate various systems and processes in the automotive, manufacturing, agriculture, food, transportation, and medical industries. The rise in industrial automation is anticipated to drive the market growth through the projection period.

The increasing population is another factor for the rise in industrial automation. The growing population around the world is another factor that creates demand for industrial automation. The need to meet the demands of the increasing population propelled manufacturers to automate the process that helps in the mass-production of products. Moreover, the rising use of industrial robots to speed up production and minimize human errors in mechanical industries is projected to boosts the growth of the market

• According to the World Robotics 2020 report,industrial robotsare mostly used in five countries which are Japan, China, U.S., Germany, and the Republic of Korea. These five countries nearly contributed to 73% of global robot installations.

Increasing Commercial Aircraft Deliveries to Fuel Market Growth

Actuators are used in various aircraft applications such as landing gear, flight controls, seats, doors, and others. Hence, the rise in new aircraft production will propel demand in the coming years. In recent years, the significant economic growth in emerging economies such as India, Africa, and China and other developed countries have increased the demand for air travel. Owing to the rise in air passenger traffic, there is the need for increasing the aircraft fleet by the airliners. This demand has led to an increase in commercial aircraft deliveries, which, in turn, is anticipated to propel the growth of the market.

RESTRAINING FACTORS

液压安装和维护成本高and Pneumatic Actuators to Hamper Growth

液压执行机构的安装是规律lt due to the fluids present in them. Thus, it has high installation costs, especially when installing for large manufacturing lines. This is expected to hinder the growth of the market. Moreover, the hydraulic actuation systems use a fluid medium such as oil or water, and the pneumatic actuation systems use air to obtain the desired output. The oil or water leakage damages and decreases the efficiency of this product and increases the maintenance costs, thereby hampering the market.

There are issues related to the different actuators used for a variety of applications. In the case of hydraulic linear actuators, efficiency is hampered due to fluid leakage which leads to cleanliness issues. It also requires regular monitoring and maintenance of pumps, fluid reservoirs, motors, release valves, and others. Furthermore, the pneumatic actuators require proportional-sized valves, compressors, and regulators for different operations raising the complexity and cost.

Thus, the major damage causes such as ongoing seal wear, incorrect assembly or maintenance, risks associated with steam valves, reduced control quality, and others hamper the growth of the actuators market share.

SEGMENTATION

By Motion Analysis

Linear Segment Expected to Lead Market Owing to Rising Demand for Industrial Automation

Based on motion, the market is divided into linear and rotary. The linear actuators market segment is expected to be the largest segment during the forecast period owing to growingindustrial automationin the manufacturing units of automotive, aerospace, and other industries. Moreover, the focus of major players in technological advancements of linear actuators is expected to boost the market growth.

• For instance, in December 2020, Rotork PLC introduced its newly developed AC version of PAX1 linear actuator. This new actuator has the capacity to control the pressure of 0-0.5 psig to 0-3,000 psig.

By Type Analysis

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Electric Segment to Grow at Higher CAGR during Forecast Period

Based on type, the market is classified into hydraulic, pneumatic, electric, and others. The pneumatic is anticipated to be the largest segment in 2021. The growth is attributed to the surge in demand for pneumatic actuators in the oil & gas industries.

• For instance, in November 2020, Rotork PLC‘s GP range of heavy-duty scotch yoke pneumatic actuators was selected for the South Korean LNG Terminal.

Electric segment is expected to grow at a high CAGR during the forecast period owing to the rising demand for electric actuators as it provides increased efficiency and low power consumption.

By End-Use Industry Analysis

Automotive Segment to Dominate Market Owing to Rising Industrial Automation

Based on end-use industry, the market is segmented into aerospace & defense, automotive, construction, chemicals, food & beverages, healthcare & pharmaceuticals, marine, mining, oil & gas, power generation, and others. The automotive segment is expected to lead the market through the forecast period, followed by the aerospace industry. Introduction of industry 4.0 in manufacturing units of automobiles boosts the growth of the market. The additive manufacturing and robotics includes a high share of actuators for automation of manufacturing processes.

Aerospace & defense segment anticipated to witness remarkable growth owing to the growing aircraft deliveries. Moreover, rising adoption modern warfare technologies, increasing procurement of next generation weapons drive the growth of the market.

REGIONAL INSIGHTS

North America Actuators Market Size, 2021 (USD billion)

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The market has been divided based on regions such as North America, Europe, Asia Pacific, and the Rest of the World.

North America dominated the market in 2021 with market size of USD 12.87 billion. The growth is attributed to the presence of well-established and growing automotive industry and aircraft manufacturing units in the region.

• As stated by the World Robotics report 2020, the U.S., China, Japan, Republic of Korea, and Germany contribute almost 73% of the global robot installations.

The market in Asia Pacific is projected to grow at the highest growth rate during the forecast period owing to the rapid industrialization and urbanization in the region. Countries such as Japan and China are recognized for their excellence in the manufacturing sector and are focused on enhancing their production and manufacturing capabilities by investing in automation.

• In October 2020, more than 700 of Rotork PLC’s CK modular electrical actuators were installed at the Shantou wastewater treatment plant in Guangdong, China, to facilitate sewage treatment in line with new environmental regulations.

The market forautomotive actuators在欧洲也期待见证significant growth as this region is the hub of key automobile manufacturers such as BMW, Audi, and others.

The growing oil & gas sector in the Middle Eastern countries such as Saudi Arabia, Kuwait, Iraq and others is expected to support the growth of the market.

This growth is attributed to the growing hydroelectricity power plants. Latin American countries uses fossil fuels such as coal and oil for power generation. The growing demand for power generation owing to increasing manufacturing industries in the region is expected to aid the actuator market growth

KEY INDUSTRY PLAYERS

Strong Product Portfolio has Driven Rotork PLC, SMC Corporation, and Rockwell Automation to Lead Market.

市场是分散由于发生of a huge number of small scale and medium-scale manufacturers in both developed and emerging countries. Rotork PLC is the U.K based flow control equipment manufacturing company. It is a leading manufacturer and has a strong product portfolio, especially in electric, hydraulic and pneumatic actuators. Other key players in the market include Curtiss-Wright Corporation, Eaton Corporation Inc., Rockwell Automation Inc., and SMC Corporation. The innovation of new technologies to offer enhanced product portfolio to their customers is the key strategy adopted by the players operating in this market. The competitive landscape of actuators system covered in this market research report.

LIST OF KEY COMPANIES PROFILED:

• ABB(Zurich, Switzerland)


• MISUMI (Tokyo, Japan)


• TAMAGAWA SEIKI Co. Ltd. (Nagano, Japan)


• Moog Inc.(美国纽约)


• Eaton Corporation Inc. (Ohio, U.S.)


• Rockwell Automation, Inc.(Wisconsin, U.S.)


• SMC Corporation (Tokyo, Japan)


• Emerson Electric Co. (Missouri, U.S.)


• Parker Hannifin Corporation(Ohio, U.S.)


• Curtiss-Wright Corporation (North Carolina, U.S.)


• Rotork PLC (Bath, U.K.)


• Venture MFG Co. (Ohio, U.S.)

KEY INDUSTRY DEVELOPMENTS:

• In January 2021 -The actuation division of Curtiss-Wright Corporation launched its new ASSIGN™ motor program for Exlar FTP and FTX Series actuators. The FTP and FTX series actuator are ideal for a wide range of factory automation applications.


• In December 2021 -Rotork PLC. signed a contract with Milano San RoccoWastewater TreatmentPlant (WWTP) to provide Rotork IQ electric modulating actuators.

REPORT COVERAGE

An Infographic Representation of Actuators Market

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The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market, current trends, highlights important actuators industry developments and global actuators market forecast. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over recent years.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2018-2029
Base Year	2021
Estimated Year	2022
Forecast Period	2022-2029
Historical Period	2018-2020
Unit	Value (USD billion)
Segmentation	Motion; Type; End-Use Industry and Geography
	By Motion Linear Rotary
	By Type Hydraulic Pneumatic Electric Others
	By End-Use Industry Aerospace & Defense Automotive Construction Chemicals Food & Beverages Healthcare & Pharmaceuticals Marine Mining Oil & Gas Power Generation Others
	By Geography North America(By Motion, Type, End-Use Industry, Country) U.S. (By End-Use Industry) Canada (By End-Use Industry) Europe(By Motion, Type, End-Use Industry, Country) U.K. (By End-Use Industry) Germany (By End-Use Industry) France (By End-Use Industry) Italy (By End-Use Industry) Spain (By End-Use Industry) Russia (By End-Use Industry) Rest of Europe (By End-Use Industry) Asia Pacific(By Motion, Type, End-Use Industry, Country) China (By End-Use Industry) Japan (By End-Use Industry) India (By End-Use Industry) Australia (By End-Use Industry) Rest of Asia Pacific (By End-Use Industry) Rest of the World(By Motion, Type, End-Use Industry, Sub-Region) The Middle East & Africa (By End-Use Industry) Latin America (By End-Use Industry)