Dublin, June 25, 2019 (GLOBE NEWSWIRE) -- The "Actuators Market by Actuation (Electrical, Pneumatic, Hydraulic), Type (Linear, Rotary), Application (Industrial Automation, Robotics, Vehicles & Equipment), Vertical (Automotive, Electronics, Healthcare), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The actuators market is projected to grow from USD 49.2 billion in 2019 to USD 74.5 billion by 2024, at a CAGR of 8.6% between 2019 and 2024.
Actuators are devices that convert energy into motion and are majorly used in moving or controlling mechanisms and systems. Actuators are operated by an external source of energy, typically electric current, hydraulic fluid pressure, or pneumatic pressure, which is then converted to motion. Actuators perform two basic motions-linear and rotary motion. They are available in varying types, sizes, and power configurations, depending on the applications they are to be used in.
The actuators market is growing at a significant rate across the globe, and this trend is expected to continue during the forecast period. Ongoing technological advancements in actuators, increasing number of air passengers and new aircraft deliveries, and growing investments to carry out process automation in end-use industries of emerging economies are fueling the growth of the actuators market across the globe. However, continuous upheavals in the oil & gas industry and volatility in the price of crude oil are expected to restrain the growth of the actuators market during the forecast period.
Increased demand for new and advanced actuators in different verticals and the development of smart cities across the globe are some of the growth opportunities for the actuators market. ABB (Switzerland), Rockwell Automation (US), Altra Industrial Motion (US), Moog (US), SMC (Japan), Curtis Wright (Exlar) (US), and MISUMI (Japan) are some of the leading players operating in the actuators market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Actuators Market
4.2 Actuators Market, By Actuation
4.3 Actuators Market, By Type
4.4 Actuators Market, By Region
5 Actuators Market, By Actuation
5.1 Introduction
5.2 Electrical
5.2.1 Increased Use of Electrical Actuators in Different Industries to Boost Their Demand Across the Globe
5.3 Hydraulic
5.3.1 Hydraulic Actuators are Increasingly Being Used in High-Force Applications
5.4 Pneumatic
5.4.1 Use of Pneumatic Actuators in Food & Beverages and Oil & Gas Industries to Fuel Their Demand Across the Globe
5.5 Others
5.5.1 Piezoelectric Actuators to Witness an Increased Demand During the Forecast Period
6 Actuators Market, By Application
6.1 Introduction
6.2 Industrial Automation
6.3 Robotics
6.3.1 Industrial Robots
6.3.2 Service Robots
6.4 Vehicles and Equipment
7 Actuators Market, By Type
7.1 Introduction
7.2 Linear Actuators
7.2.1 Rod Type Linear Actuators
7.2.1.1 Increasing Use of Rodless Type Linear Actuators in Aircraft Structures to Carry Loads Expected to Contribute to Their Demand
7.2.2 Screw Type Linear Actuators
7.2.2.1 Growing Use of Screw Type Linear Actuators With Servomotors in Drive and Control Hardware and Sensors to Fuel Their Demand
7.2.3 Belt Type Linear Actuators
7.2.3.1 Use of Belt Type Linear Actuators is Rising to Increase the Operational Efficiency of Process Automation
7.3 Rotary Actuators
7.3.1 Motors
7.3.1.1 Surging Sales of Industrial Robots to Fuel the Demand for Motor Rotary Actuators During the Forecast Period
7.3.2 Bladder & Vane
7.3.2.1 Increasing Use of Bladder & Vane Rotary Actuators in Gates and Valves Used in the Process Industry to Contribute to A Rise in Their Demand
7.3.3 Piston Type
7.3.3.1 Growing Use of Piston Type Rotary Actuators for Precision Control Applications in the Electronics Industry Expected to Fuel Their Demand
8 Actuators Market, By Vertical
8.1 Introduction
8.2 Food & Beverages
8.2.1 Requirement for Increased Automation and Capacity Enhancement of Existing Food & Beverages Plants Expected to Fuel Growth of Actuators Market for Food & Beverages
8.3 Oil & Gas
8.3.1 Increase in Oil & Gas Exploration Activities in Asia Pacific to Drive Growth of Actuators Market for Oil & Gas
8.4 Metals, Mining, and Machinery
8.4.1 Requirement for Robust Actuators in Mining Industry to Drive Growth of Actuators Market for Metals, Mining, and Machinery
8.5 Power Generation
8.5.1 Increased Spending on Renewable Sources of Energy for Power Generation is Expected to Increase Demand for Actuators Across the Globe
8.6 Chemicals, Paper, and Plastics
8.6.1 Rapid Industrialization and Stringent Implementation of Environmental Regulations are Driving Growth of Actuators Market for Chemicals, Paper, and Plastics
8.7 Pharmaceutical & Healthcare
8.7.1 Stringent Regulations for Hygiene and Increased Demand for Surgical Robots in Healthcare Industry Contributing to Growth of Actuators Market for Pharmaceutical & Healthcare
8.8 Automotive
8.8.1 Increased Demand for Industrial Robots in Automotive Sector to Drive Growth of Actuators Market for Automotive
8.9 Aerospace & Defense
8.9.1 Rise in Defense Expenditures, Increase in Commercial Aviation and Increase in Number of Military Modernization Programs Fueling Growth of Actuators Market for Aerospace & Defense
8.10 Marine
8.10.1 Increased Demand for Actuators for Commercial Shipbuilding Contributing to Growth of Actuators Market for Marine
8.11 Electronics & Electrical
8.11.1 Continuously Increasing Demand for Batteries, Chips, and Displays Leading to Growth of Actuators Market for Electronics & Electrical
8.12 Construction
8.12.1 Increased Demand for Electrical Linear Actuators in Construction Industry for Lifting and Material Handling Applications to Fuel Growth of Actuators Market for Construction
8.13 Utilities
8.13.1 Increased Demand for Logistics, Agriculture, and Field Robots Driving Growth of Actuators Market for Utilities
8.14 Household & Entertainment
8.14.1 Increased Demand for Service Robots in Domestic Applications Leading to Growth of Actuators Market for Household & Entertainment
8.15 Agriculture
8.15.1 Growing Adoption of Mechanization and Increasing Government Support Leading to Growth of Actuators Market for Agriculture
9 Regional Analysis
Company Profiles
- ABB
- Altra Industrial Motion
- Cedrat Technologies
- Curtis Wright (Exlar)
- DVG Automation
- Festo
- Harmonic Drive LLC
- IAI
- IMI PLC
- Introduction
- Kinitics Automation
- Kollmorgen
- Macron Dynamics
- MISUMI Group Inc.
- Moog
- Nook Industries, Inc.
- Rockwell Automation
- Rotomation
- SKF
- SMC
- Tolomatic
- Venture Mfg. Co.
For more information about this report visit https://www.researchandmarkets.com/r/9rg9by
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.