Market Research Report
Electric Actuators Market by End-users, Type, and Geography - Global Forecast and Analysis 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||910218|
|Published||Content info||159 Pages
Delivery time: 1-2 business days
|Electric Actuators Market by End-users, Type, and Geography - Global Forecast and Analysis 2019-2023|
|Published: September 3, 2019||Content info: 159 Pages||
Technavio's electric actuators market analysis considers sales from both linear actuators and rotary actuators . Our analysis also considers the sales of electric actuators in APAC, Europe, North America, South America, and MEA. In 2018, the linear actuators segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as precise control of speed, acceleration, position, and torque will play a significant role in the linear actuators segment to maintain its market position. Also, our global electric actuators market report looks at factors such as growing demand for commercial and defense aircraft, increasing use of electric actuator in industrial robots and automation, and growing demand for smart actuators. However, the risk from faulty and loosely insulated electric actuators and their malfunctions, fluctuating raw material prices, and high initial set up cost for end-users of electric actuators may hamper the growth of the electric actuators industry over the forecast period.
The demand for commercial and defense aircraft fleet is increasing globally due to increasing air passenger traffic. Electric actuators also reduce the burden on maintenance personnel as they are more reliable compared to conventional actuators. Electric actuators are a cost cost-effective and viable alternative solution instead of existing hydraulic and pneumatic actuator systems in commercial and defense aircraft. This helps in improving the performance and provide accurate control and faster reaction time. For instance, United Airlines recently announced its plans to include 40 new mainline aircraft to its fleet. This will lead to the expansion of the global electric actuators market at a CAGR of almost 7% during the forecast period.
Electric actuators will be used in smart homes in applications such as providing linear motion for objects including recliners, blinds, pergolas, sit-stand desks, and kitchen appliances. For example, electric actuators are used in sit-stand desks to adjust the height. Therefore, the growth in the number of smart homes is expected to have a positive impact on the global electric actuators market growth.
For the detailed list of factors that will drive the global electric actuators market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global electric actuators market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric actuators manufacturers, that include ABB Ltd., Emerson Electric Co., General Electric Co., LINAK AS, Moog Inc., Parker-Hannifin Corp., Rotork Plc, Siemens AG, SMC Corp., Toshiba Corp.
Also, the electric actuators market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.