Electric Actuator Market Size, Share and COVID-19 Impact Analysis, By Product Type (Linear and Rotary), By End User (Marine, Automotive, Water and wastewater, Aerospace and Defense, and Others) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI107345 | Status : Ongoing

KEY INDUSTRY INSIGHTS

An electric actuator is an electromechanical device which used in various processes to direct and regulate the flow of fluids. Using an electric motor creates movement of load or a necessary force like clamping. Electric Actuators are easier to consolidate in systems than it is to consolidate pneumatic or hydraulic actuators. Due to easier integration of electric actuators, it finds a wide range of applications in various industries such as automotive, food & beverage, electronics & electronic assembly.

The growth of the Electric Actuator Market is seen to be driven by Automotive Industry, as it is shifting towards electric vehicles. Electric Actuators are associated with benefits like more precise control movement, no endanger to any type of leakages and economical and simple integration. Such factors excel the adoption of actuators in the food & beverage industry, oil & gas, mining, and power generation industries fuels the growth of this market. The rise in aircraft manufacturing is anticipated in coming years, and furthermore, new technologies in actuators are in under way which can drive the market in the future as well.

Impact of COVID-19 on the Electric Actuator Market

The COVID pandemic caused a worldwide disruption in the supply chain across all the systems, owing to halted manufacturing in the automotive industry. In addition to this announcement of lockdown shut all industries including food & beverages, mining owing to this the sudden and exponential fall in demand for electric actuators was seen. Industries using actuators like healthcare, aerospace and defense, agriculture, and automotive were negatively impacted due to the pandemic. Although, due to the reduced number of cases and slightly released regulations, the demand for electric actuators is expected to rise.

Key Insights

The report will cover the following key insights:

Recent industry trends and developments.

Competitive landscape & strategic key players.

Complete background analysis including an assessment of the global Electric Actuator Market.

Impact of COVID-19 on the Electric Actuator Market.

Regional Analysis

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Asia Pacific is expected to dominate the electric actuator market owing to an increase in the adoption of pipeline transportation and power projects in economies countries such as China, India, and Japan. An increase in the adoption of pipeline transportation and locating new oil & gas reserves in India further drive market growth.

The increasing use of electric actuators in automation and industrial robots will propel the market in the APAC region.

In Europe, the electric actuators market is expected to grow leading to the increasing demand for commercial and defense aircraft and owing to the increasing use of electric actuators in automation. ABB Ltd., Rotork Plc, and Siemens AG are among the leading manufacturers of actuators.

Rising demand of electric actuators owing to technological advancements in vehicles in North America and the strong presence of Curtiss-Wright Corp., Emerson Electric Co., General Electric Co., and LINAK AS are driving the market.

Key Players

ABB, Curtiss-Wright Corporation, Emerson Electric Co., Flowserve Corporation, General Electric, Rotork, AUMA Riester GmbH & Co. KG, Moog Inc, Actuonix Motion Devices Inc., and Ewellix (SKF Motion Technologies) are some of the key players in the market.

Segmentations

By Product Type	By End User	By Regions
Linear Actuators Rotary Actuators	Marine Automotive Water and wastewater Aerospace and defense Others	North America (U.S., Canada, Mexico) Europe (Germany, France, U.K., Russia, Rest of Europe) Asia Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific) LAMEA (Latin America, Middle East, Africa)

Key Industry Development

June 2022 – Curtiss-Wright launched the Exlar GTW series actuator for automotive weld-gun applications.

June 2021 – Curtiss-Wright launched an integrated actuator model in the Exlar GTX series.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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