An actuator is a part of a device or machine that converts energy (typically electrical, air, or hydraulic) into mechanical force so that it can perform physical movements. To put it simply, it is the component of a machine that allows it to move. Hydraulic and pneumatic forces are frequently used to power the equipment, which can be controlled manually, electronically, or via software. Actuators can move in two directions: linear and rotational. The linear motion converts energy into position and push and pull functions for other equipment. Rotary motion, on the other hand, enables the movement of various ball and butterfly valves.
Actuators Market Report Scope and Research Methodology
The aim of the Actuators Market report is to provide the current and future market scenario. demand, income generation and sales and revenue have been provided in the Actuators market report. The division of the market into various segments and sub-segments helps clients to know about different growth components that are likely to be similar across the Actuators industry. The top players in the Actuators industry including market leaders, new entrants and followers are also included in the report. The Actuators market study provides unique guidance in thoughtful details regarding the development factors and has used a top-down and bottom-up approach to keep it error-free and accurate. SMR's Actuators market report is the result of a study that used various methodologies such as the PESTLE, PORTER, and SWOT analysis. The use of these methodologies provides the knowledge of strengths and weaknesses along with the macro and micro economic factors in the Actuators market.
Actuators Market Report Overview:
The report provides insights about Actuators Market key players along with a thorough analysis of their growth strategies, financial information and capacity, geographical presence, and product portfolio. The report provides fundamental dynamics of the Actuators market, including drivers, opportunities, challenges and restraints faced by the market.
Actuators Market size was valued at US$ 42.68 Bn. in 2020. The global Actuators Market is estimated to grow at a CAGR of 9.81 % over the forecast period.
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Actuators Market Dynamics:
The healthcare industry is developing and manufacturing new machines that necessitate the use of actuators. Medical devices that use actuators include wheelchairs, medical beds, patient lifts, treatment chairs, dental chairs, and CT, MRI, and PT scanning equipment. The expansion of healthcare facilities and the rise in the senior population are driving the global healthcare actuators market. The number of hospitals in countries such as the United States, India, and China is constantly increasing. Cancer has recently emerged as one of the world's most serious diseases. In 2020, the most common cancers among new cases were breast cancer (2.26 million cases) and lung cancer (1.4 million cases). Furthermore, the COVID-19 pandemic outbreak in early 2020 resulted in a massive influx of patients into hospitals across the country.
Actuators Market Segmentation:
The Actuators Market is divided into two types based on motion: linear and rotary. In 2020, the Linear segment held a 63.88% market share. The growing use of linear motion actuators in packing machines, medical equipment, production machinery, transportation, and aerospace and defense industries around the world is driving segment growth. Some of the major factors driving the actuator market growth for linear actuators are rising demand for fuel-efficient vehicles, stringent environmental regulations, rising automation in emerging economies, and the growing need to improve combustion control, increase reliability, and reduce production costs in manufacturing sectors.
The Actuators Market is divided into four types: electric actuators, mechanical actuators, pneumatic actuators, and hydraulic actuators. The Hydraulic Actuators segment dominated the market in 2020, accounting for 36.79% of the total. Because of their robust construction and integrated backup in case of failure, hydraulic actuators are increasingly being used in heavy equipment used for construction, mining, agriculture, and other applications. As a result, these factors are propelling the actuator market's segment growth.
During the forecast period, the Electric Actuators segment is expected to grow at a significant rate of 8.93% CAGR. Because of their high speed, electric actuators are widely used in automotive applications. Electrical actuators provide increased control and acceleration at high speeds. The thrust force can be programmed without the need for compressed air or the associated infrastructure, and these actuators use very little energy overall.
Actuators Market Key Players: ABB (Switzerland) Rockwell Automation (US) Altra Industrial Motion (US) Moog (US) SMC (Japan) Curtis Wright (Exlar) (US) MISUMI (Japan) ZF Friedrichshafen AG (Germany) HELLA KGaA (Germany) Continental AG (Germany) Denso Corporation (Japan) Delphi Automotive plc (Ireland) Magna International (Canada) Borg Warner Inc. (US) Johnson Electric (Hong Kong) Nidec Motors & Actuators (Japan) Eaton Corporation plc (Ireland
Key Questions answered in the Actuators Market Report are:
- What is Actuators Market?
- Who are the top Actuators Market players?
- What was the Actuators Market size in 2021?
- What is the expected Actuators Market size by 2029?
- What will be the CAGR of the Actuators market during the forecast period?
- Which region held the largest market share in the Actuators Market?
- Which regional Actuators market is expected to grow at a high rate during the forecast period?
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
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