Industrial Actuators Market Introduction
- Industrial actuators are designed to deliver consistent operations even in harsh environments
- Industrial actuators are devices used to convert energy into motion. These are primarily used in controlling or moving mechanisms and systems.
- These devices are mainly operated by outside energy source, typically pneumatic pressure, hydraulic fluid pressure, or electric current, which is then converted into motion
- Industrial actuators are available in variable types, sizes, and power configurations depending upon the applications
- Demand for industrial actuators is expected to increase in the near future, due to the rise in demand for electricity, rapid urbanization, and growth in industrial activities in emerging countries
- Adoption of smart factory or digital factory through incorporation of Industrial Internet of Things (IIoT) technology in the manufacturing sector is projected to drive the demand for industrial actuators
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Industrial Actuators Market Dynamics
- Rise in demand for automation and rapid industrialization, primarily in emerging economies, are driving the demand for industrial actuators across the globe
- Technological advancement and expansion of industrial base are also anticipated to boost the market
- Increase in investment in manufacturing, including expansion, modification, and upgrade of existing production facilities; and introduction of new production lines in emerging countries are estimated to augment the industrial actuators market
- Stringent regulations for reducing air pollution explicitly in oil & gas industry is adversely affecting the adoption of industrial actuators
- Volatility in prices of crude oil is also projected to hamper the global industrial actuators market in the near future
Industrial Actuators Market: Segmentation Analysis
- Based on product, the global industrial actuators market can be bifurcated into linear actuators and rotary actuators
- The linear actuators segment is expected to dominate the global industrial actuators market in the near future due to the increase in application of these actuators in wide range of industries including production machinery, manufacturing, transportation, packaging machines, aerospace, medical equipment, and defense
- Based on system, the global market can be divided into mechanical actuators, hydraulic actuators, electrical actuators, and pneumatic actuators
- In terms of end-user, the global industrial actuators market can be segregated into oil & gas, chemical, energy & power, water treatment, food & beverages, and others
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Asia Pacific to Lead Global Industrial Actuators Market
- In terms of region, the global industrial actuators market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is likely to dominate the global industrial actuators market from 2019 to 2027. Rise in investment in various industries, such as water and wastewater, chemical, and energy & power, has augmented the adoption of industrial actuators in the region.
Key Manufacturers Operating in Market
The global industrial actuators market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Emerson Electric Corporation
- Honeywell International Inc.
- Eaton Corporation Inc.
- Flowserve Corporation
- KSB Group
- KITZ Corporation
- Weir Group plc
- Pentair plc
- Valvitalia Group
- Rotork plc
Global Industrial Actuators Market: Research Scope
Industrial Actuators Market, by Product
- Linear Actuators
- Rotary Actuators
Industrial Actuators Market, by System
- Mechanical Actuators
- Hydraulic Actuators
- Electrical Actuators
- Pneumatic Actuators
Industrial Actuators Market, by End-user
- Oil & Gas
- Energy & Power
- Water Treatment
- Food & Beverages
Global Industrial Actuators Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.