Actuator Market Emerging Trends and Future Prospects for period from 2024 to 2031
The "Actuator Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Actuator market is expected to grow annually by 12.7% (CAGR 2024 - 2031).
This entire report is of 153 pages.
Actuator Introduction and its Market Analysis
The Actuator market research report provides insights into the current market conditions, analyzing key factors driving revenue growth. Actuators are devices used to control motion in machines and processes, with a target market including industries such as automotive, aerospace, and manufacturing. Major players in the market include Rotork, Auma, Emerson, and Flowserve. The report highlights the trend towards automation, increasing demand for actuators in various industries. Key findings include growing adoption of electric actuators and the importance of product innovation for market competitiveness. Recommendations include focusing on expanding product portfolios and enhancing distribution channels.
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The actuator market is experiencing robust growth, with various types such as Pneumatic Actuators, Hydraulic Actuators, Electric Actuators, and others catering to different industries. Segmentation by application includes Petroleum & Chemical, General Industries, Power, Water, and others. Regulatory and legal factors play a crucial role in shaping market conditions, with stringent environmental regulations driving the adoption of more efficient and sustainable actuator technologies. Market players are focusing on compliance with safety standards and certifications to ensure product reliability and performance in diverse industrial settings. Overall, the actuator market is poised for continued expansion, driven by the growing demand for automation and control solutions across industries.
Top Featured Companies Dominating the Global Actuator Market
The actuator market is highly competitive with key players such as Rotork, Auma, Emerson, Flowserve, ABB, BERNARD, and several others. These companies offer a wide range of actuator products and services for various industries such as oil & gas, water & wastewater, power generation, and aerospace, among others.
Rotork is one of the leading players in the actuator market, offering a diverse range of products including electric, pneumatic, and hydraulic actuators. Auma specializes in electric actuators and valve automation systems, catering to the oil & gas and water & wastewater industries. Emerson is another major player in the market with a strong focus on process control solutions, including actuators for industrial applications.
These companies contribute to the growth of the actuator market by investing in research and development to innovate new products, improving efficiency, and reliability of actuator systems. They also focus on expanding their global presence through strategic partnerships, acquisitions, and collaborations with key stakeholders.
In terms of sales revenue, Rotork reported £669 million in revenue for the fiscal year 2020, while ABB generated approximately $ billion in revenue for the same period. Emerson reported sales of $16.77 billion in fiscal year 2020.
Overall, companies like Rotork, Auma, Emerson, and others play a vital role in driving innovation, adoption, and growth in the actuator market, enabling industries to improve operational efficiency, productivity, and sustainability.
- Rotork
- Auma
- Emerson
- Flowserve
- ABB
- BERNARD
- CDF
- ChongqingChuanyiAutomationCo.,Ltd.
- ShanghaiAutomationInstrumentationCo.,Ltd.
- NihonKoso
- KoeiIndustry
- Surpass(Shanghai)AutomaticTechnologyCo.,Ltd.
- RagaScience&TechnologyDevelopmentCo.,Ltd.
- Tomoe
- PSAutomation
- YangzhouHengchunElectronicsCo.,Ltd.
- ZhejiangTefulongMachineryGroupCo.,Ltd.
- ActuatorsCo.,Ltd.YangzhouAutuoKe
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Actuator Market Analysis, by Type:
- PneumaticActuators
- HydraulicActuators
- ElectricActuators
- Other
Pneumatic actuators are powered by compressed air, hydraulic actuators use liquid to generate motion, and electric actuators rely on electricity for operation. Other types include piezoelectric, electromagnetic, and thermal actuators. These different types cater to various industries and applications, increasing the demand for actuators in the market. Pneumatic actuators are popular for their cost-effectiveness, hydraulic actuators are known for their high power output, and electric actuators are valued for their precision and control. The versatility and performance of these actuators contribute to the growth of the actuator market as industries seek efficient and reliable automation solutions.
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Actuator Market Analysis, by Application:
- Petroleum&Chemical
- GeneralIndustries
- Power
- Water
- Other
Actuators are applied in various industries such as petroleum & chemical, general industries, power, water, and others for controlling and automating valves, pumps, and other mechanical equipment. In petroleum & chemical industry, actuators are used for controlling flow of liquids and gases. In general industries, actuators are used for various industrial processes. In power industry, actuators help in regulating power generation equipment. In water industry, actuators are used for water treatment and distribution systems. The fastest growing application segment in terms of revenue is the power industry, as the demand for efficient power generation and distribution systems is increasing.
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Actuator Industry Growth Analysis, by Geography:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The Actuator market is expected to witness significant growth in North America, particularly in the United States and Canada, due to increasing adoption of advanced technology in various industries. In Europe, countries like Germany, France, ., Italy, and Russia are expected to dominate the market, driven by rapid industrialization and growing automation in manufacturing processes. Meanwhile, in Asia-Pacific, China, Japan, South Korea, India, Australia, Indonesia, Thailand, and Malaysia are projected to witness substantial growth, attributed to rising demand for actuators in the automotive and healthcare sectors. Latin America, Middle East, and Africa are also expected to experience growth in the Actuator market, with countries like Mexico, Brazil, Argentina, Colombia, Turkey, Saudi Arabia, and UAE showing promising growth potential. China is forecasted to dominate the Actuator market with a market share of around 30%, followed by the United States with a market share of approximately 25%. Europe is expected to hold a market share of around 20%, while the Asia-Pacific region is projected to have a market share of 15%. Latin America, Middle East, and Africa are anticipated to collectively hold a market share of 10%.
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