Electric Actuator Market Size Grows by USD 3.96 Billion | Growing demand for commercial and defense aircraft to improve market growth

NEW YORKMay 13, 2022 /PRNewswire/ — The electric actuator market size is expected to grow by: USD 3.96 billion from 2020 to 2025. In addition, the growth momentum of the market will accelerate at a CAGR of 5.24% during the forecast period. Technavio analyzes the market by end user (automotive industry, water and wastewater industry, marine industry, aerospace and defense industry, and others), type (linear drives and rotary drives) and geography (APAC, EuropeNorth AmericaALONG, South AmericaAPAC, EuropeNorth AmericaMEA, and South America

Technavio has announced its latest market research report entitled Electric Actuators Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

Technavio has announced its latest market research report entitled Electric Actuators Market by End-user, Type, and Geography – Forecast and Analysis 2021-2025

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The electric actuator market includes the following areas:

Market size for electric drives
Market forecast for electric actuators:
Market Analysis Electric Actuators

Driver and challenge

The growing demand for commercial and defense aircraft is driving the growth of the global electric actuator market. There are prominent aircraft owners in APAC and Europe, with a combined share of more than half of the total aircraft fleet in the world. The increasing air traffic leads to an increase in the number of aircraft fleets. Electric actuators are a cost-effective and viable alternative to hydraulic and pneumatic actuator systems in commercial and defense aircraft. They help improve aircraft performance and provide precise control and faster response time. In addition, the use of electric actuators in commercial and defense aircraft helps reduce the burden on maintenance personnel, improves reliability and lowers life cycle costs. Therefore, with the growth in the demand for commercial and defense aircraft, the demand for electric actuators is expected to increase during the forecast period.

The risk of defective and loosely insulated electric drives and their malfunctions will challenge global electric actuator market share growth during the forecast period. Electric actuators are built to operate and sustain at different temperatures. These products should be stored properly, with appropriate insulation measures to prevent leakage. Gas leakage from faulty or loosely insulated electric actuators can affect the health of workers and people in close proximity to electric actuators. Breathing argon can cause suffocation or asphyxiation. It can also cause problems such as stinging in the eyes, vomiting, dizziness, rapid breathing, agitation, headache, excessive salivation, stinging in the nose and throat, and can lead to unconsciousness. This can lead to compliance issues with authorities. Thus, faulty and loosely insulated electric actuators can affect their demand during the forecast period.

Regional analysis

APAC will account for 32% of the market’s growth over the forecast period. The increasing use of electric actuators in industrial robots and automation will drive the market growth of electric actuators in APAC during the forecast period. Moreover, the market growth in this region will be faster than the market growth in North America and South AmericaChina and Japan are the key countries for electric actuator market in APAC.

Named companies

  • ABB Ltd.

  • Curtiss Wright Corp.

  • Emerson Electric Co.

  • general electric co.

  • LINAK AS

  • moog inc.

  • Parker Hannifin Corp.

  • Rotork Plc

  • Siemens AG

  • SMC Corp.

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Market Size of Electric Actuators:

Reporting coverage

Details

page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.24%

Market growth 2021-2025

USD 3.96 billion

Market structure

fragmented

YoY Growth (%)

4.76

Regional analysis

APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA and South America

Performing Market Contribution

APAC at 32%

Main consumer countries

US, China, Germany, Japan and UK

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Range

Profiled companies

ABB Ltd., Curtiss-Wright Corp., Emerson Electric Co., General Electric Co., LINAK AS, Moog Inc., Parker Hannifin Corp., Rotork Plc, Siemens AG and SMC Corp.

Market dynamics

Parent market analysis, Inductors and obstacles to market growth, High-growth and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market conditions analysis for forecast period,

Adjustment Range

If our report doesn’t provide the data you’re looking for, you can contact our analysts and have segments tailored.

Main topics covered:

1. Summary

2 Market landscape

3 Market size

4 Five Forces Analysis

5 Market segmentation by end user

6 Market Segmentation by Type

7 Customer landscape

8 Geographical Landscape

9 drivers, challenges and trends

10 supplier landscape

11 Supplier Analysis

12 Appendix

About us
Technavio is a leading global technology research and consultancy company. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 specialist analysts, Technavio’s report library consists of more than 17,000 reports and 800 technologies across 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive coverage, extensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive position within changing market scenarios.

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Technological research
Jesse Maida
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Email: [email protected]
Website: www.technavio.com/

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