Emerging Technologies Shaping the Actuator Systems Market
An actuator system market is a component of a machine that is responsible for moving and controlling a mechanism or system, which is operated electrically, manually or by various fluids such as air, hydraulics, and others. An actuator requires a control signal and a source of energy. The control signal is relatively low energy and may be electric voltage or current, pneumatic or hydraulic pressure, or even human power. Two basic motions of actuators are linear and rotary. The global actuator systems market is estimated to grow at a CAGR of 8.8% during forecast. At this CAGR, the global actuator systems market size is estimated to reach from $48.3 billion in 2019 to $87.2 billion by 2026.
Increase in production, rise in use of electrical actuators due to their efficient operation, less maintenance and others, and surge in demand from automation industry are expected to drive the growth of the global actuator systems market. However, strong competition among manufacturers, stringent government regulations on the use of actuators for safety purpose, and reduced energy consumption are expected to restrain the global actuator systems market growth. Further, factors such as increase in investment in automation industry, rise in demand in energy sector for the actuator use, and research on improvement in actuator systems are expected to be the opportunities in the growth of the global actuator systems market.
Key segmentation can be done on the basis of product, application, motion, end use, and region. Based on the product, the market is segmented into hydraulic, mechanical, pneumatic, electrical, thermal, and others. On the basis of application, the market is classified into automotive, healthcare, electronics, chemical processing and others. By segmentation type motion, it is categorized into linear and rotary. Based on end use, the market is divided into chemical, power, oil & gas, automobile, hydraulics, metals, and others. Based on region, the global actuator systems market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key players in the global actuator systems market are ABB, Rockwell Automation, Inc., Emerson Electric Co., Altra Industrial Motion, Flowserve Corporation, SAMSON CONTROLS, SMC Corporation, Aero Space Controls Corporation, GE Aviation, Honeywell International Inc., and MISUMI Corporation.
Key Benefits for Stakeholders:
The global actuator systems market share has been analyzed across four major regions.
Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of actuator systems for strategy building.
The report outlines the current market trends and future scenario of the market size to understand the prevailing opportunities and potential investment pockets. The market is forecasted.
Major countries in each region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, opportunities & actuator systems market trends along with their detailed impact analysis are elucidated in the study.
The global actuator systems market analysis covers in-depth information of the major industry participants.
Questions Answered in the Actuator Systems Market Research Report:
What is the growth rate of the actuator systems market during the forecast period?
What will be the global actuator systems market size ?
Who are the leading manufacturing companies in the actuator systems market?
How the major current trends will shape the market in the future?
What are the driving factors and opportunities in the market?
Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
Why are some of the segments flourishing at the highest growth rate while others experience a steady growth?
What are the conclusions of the actuator systems market?
