Industrial Actuators Market Introduction
- Industrial actuators are designed to deliver consistent operations even in harsh environments
- Industrial actuators are devices used to convert energy into motion. These are primarily used in controlling or moving mechanisms and systems.
- These devices are mainly operated by outside energy source, typically pneumatic pressure, hydraulic fluid pressure, or electric current, which is then converted into motion
- Industrial actuators are available in variable types, sizes, and power configurations depending upon the applications
- Demand for industrial actuators is expected to increase in the near future, due to the rise in demand for electricity, rapid urbanization, and growth in industrial activities in emerging countries
- Adoption of smart factory or digital factory through incorporation of Industrial Internet of Things (IIoT) technology in the manufacturing sector is projected to drive the demand for industrial actuators
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Industrial Actuators Market Dynamics
- Rise in demand for automation and rapid industrialization, primarily in emerging economies, are driving the demand for industrial actuators across the globe
- Technological advancement and expansion of industrial base are also anticipated to boost the market
- Increase in investment in manufacturing, including expansion, modification, and upgrade of existing production facilities; and introduction of new production lines in emerging countries are estimated to augment the industrial actuators market
- Stringent regulations for reducing air pollution explicitly in oil & gas industry is adversely affecting the adoption of industrial actuators
- Volatility in prices of crude oil is also projected to hamper the global industrial actuators market in the near future
Industrial Actuators Market: Segmentation Analysis
- Based on product, the global industrial actuators market can be bifurcated into linear actuators and rotary actuators
- The linear actuators segment is expected to dominate the global industrial actuators market in the near future due to the increase in application of these actuators in wide range of industries including production machinery, manufacturing, transportation, packaging machines, aerospace, medical equipment, and defense
- Based on system, the global market can be divided into mechanical actuators, hydraulic actuators, electrical actuators, and pneumatic actuators
- In terms of end-user, the global industrial actuators market can be segregated into oil & gas, chemical, energy & power, water treatment, food & beverages, and others
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Asia Pacific to Lead Global Industrial Actuators Market
- In terms of region, the global industrial actuators market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is likely to dominate the global industrial actuators market from 2019 to 2027. Rise in investment in various industries, such as water and wastewater, chemical, and energy & power, has augmented the adoption of industrial actuators in the region.
Key Manufacturers Operating in Market
The global industrial actuators market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Emerson Electric Corporation
- Honeywell International Inc.
- Eaton Corporation Inc.
- Flowserve Corporation
- KSB Group
- KITZ Corporation
- Weir Group plc
- Pentair plc
- Valvitalia Group
- Rotork plc
