PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1340712
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1340712
The rodless actuators market is projected to grow at a CAGR of 7.45% over the forecast period, increasing from US$10.366 billion in 2021 to US$17.141 billion by 2028.In addition to delivering thrust, Rodless actuators are used to carry the load without any need for external guidance and ways. Screw-driven models are widely used for axial force applications where space is limited, and the payload needs to be supported. A rodless actuator's entire stroke length is contained in its body compared to the weight on the rod that extends beyond the body. Moreover, these rodless actuators are used to calculate the load precisely and are considered an effect and inertia of the load. A rodless actuator moves in all directions, helps eliminate the need to compensate the piston area and helps in transporting the load for a longer duration and distance with minimal deflection.
The use of rodless actuators is increasing in the manufacturing sector as the need for transport increases, and the penetration of rodless actuators is increasing. According to the Ministry of Statistics and Programme Implementation, the contribution of manufacturing to India's GDP was Indian Rupees 5,910 billion in the second quarter of 2021 and Indian Rupees 6,760 billion in the second quarter of 2022. In developing countries such as India and China, the manufacturing sector is bolstering, and various government initiatives are being taken to increase the share of manufacturing in India. For instance, the National Manufacturing Policy aims to boost manufacturing share to 25% of GDP by 2025.
The demand for rodless actuators for the power and energy industry is increasing as they have been adapted for wind turbines. These actuators are created considering load, coefficient of friction, and steady movement in mind. Additionally, devices that transform solar energy into useful energy require rodless actuators. Further, China is making significant investments to modernize parts of its power sector. Most renewable energy devices are powered by water, biofuel, wind, and solar energy. For these applications, accurate actuation is necessary to maximize system performance, which increases the requirement of rodless actuators, resulting in a rise in the electricity power generation in China. For instance, as per the BP Statistical Review of World Energy, 2021, electricity power generation increased from 7.78k terawatt in 2020 to 8.53k terawatt in 2021.
Due to the availability of affordable raw materials and the rise in the development of new technology at a better price, the industry in the region is expected to experience substantial expansion. Additionally, during the forecast period, the rodless actuators market in Asia-Pacific is expected to be driven by an increase in the deployment of robots and automation in the industrial sector. For instance, to facilitate sewage treatment per current environmental standards, more than 700 of Rotork PLC's CK modular rodless actuators were installed at the Shantou sewage treatment facility in Guangdong, China, in October 2020.