About Electric Actuator
An electric actuator is one kind of gear motor which converts electrical energy to mechanical torque and is responsible for controlling or moving a mechanism or system. These electrical actuators use electrical energy to actuate equipment such as multi-turn valves. It is one of the cleanest and most quickly available forms of actuator because it does not involve oil. Electric actuators are majorly used for industrial purposes and these actuators work on the principle of conversion of electric voltage into mechanical motion. Increased concern for the conservation of energy in the defense industry is one of the factors driving the market for the electric actuator.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.0% |
The market of Electric Actuators appears to be fragmented and with the presence of several companies including Emerson Electric, and Flowserve. Factors such as the growing demand for electric linear actuators from the automotive industry will provide considerable growth opportunities to electric actuator manufacturers. Analyst at AMA Research estimates that China Manufacturers will contribute the maximum growth to Global Electric Actuator market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Rotork (United Kingdom), Auma (Germany), Flowserve (United States), Emerson (United States), ABB (Switzerland), Bernard (France), SNNA (United States), Biffi (Italy), Tomoe (Japan), Nihon Koso (Japan) and Tefulong (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are CDF (China), SAIC (China), Aotuo Ke (China), Chuanyi Automation (China), Zhonghuan TIG (China), SIG (China), PS Automation (Germany), Xiang Long (China), Raga (China), KOEI (Japan) and Hengchun (China).
Segmentation Overview
AMA Research has segmented the market of Global Electric Actuator market by Type (Electric Linear Actuator, Electric Rotary Actuator, Electric Valve Actuator and Others), Application (Petroleum, Water Treatment, Electric Power, Pharmaceutical and Others) and Region.
On the basis of geography, the market of Electric Actuator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Automotive will boost the Electric Actuator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Attracting Focus of Industries on Green Technology and Acceptance of New Technological Advancements in Electrical Actuator
Market Growth Drivers:
Increase in Number of Aircraft Deliveries, Increased Concern for Conservation of Energy in Defense Industry and Increasing Demand for Electric Linear Actuators from Automotive Industry
Challenges:
Issue Related to Power Consumption, Noise, and Leak Issues and Fluctuating Raw Material Prices for Electrical Actuator
Restraints:
Volatility in Oil & Gas Market and High Initial Cost of Implementation of Actuators
Opportunities:
Use of Advanced Actuators in Different Verticals and Use of Actuators in Smart Cities
Market Leaders and their expansionary development strategies
In August 2023, Japanese industrial giant Nidec expanded its robotics and automation portfolio by acquiring South Korean robot maker Robotis, aiming to strengthen its market position in smart factories and collaborative robots.
In October 2023, Schneider Electric unveils new servo drives offering high-power density and advanced motion control capabilities for industrial automation applications.
Key Target Audience
Manufacturers of Electrical actuator, Providers or Suppliers of Electrical actuator, Retailers, Distributors, and Wholesalers of Electrical actuator, Manufacturers of Automotive Components, Manufacturers of Defense Components, Manufacturers of Aerospace Components, Technology Support Providers and Original Equipment Manufacturers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.