High-Performance Actuators Market Outlook - 2030
The global high-performance actuators market size was valued at $2.4 billion in 2020, and is projected to reach $5.7 billion by 2030, growing at a CAGR of 9.1% from 2021 to 2030. High-performance actuators or high-duty actuators are of two types, linear and rotary. Duty cycle is the ratio of on-time to off-time, usually expressed as a percentage. These actuators provide the best controllability and reliability for programmable motion cycles. High-performance actuators are designed for low to high force, and are capable of performing many cycles during its service life. Such high performing actuators have been employed in various equipment, machinery, and robotics.
The growth of the global high-performance actuators industry is currently driven by the development of industrial automotive sectors. In the industrial sector, robotics and industrial equipment are in high demand, thus requiring wide-scale use of linear and rotary actuators. Industrial automation and process control have increased the demand for actuators, as they are used in dampers, vanes, valves, and other process control applications requiring high speed and torque. In vehicles, actuators are in charge of idle control, power take-off activities (particularly in high-performance vehicles), and air flap control for torque and power optimization. These are some of the high-performance actuators market trends which can be observed during the forecast period.
The global high-performance actuators market growth is dependent on the growth of industrial and manufacturing sector. Hence, a global economic slowdown is likely to hamper the growth of the market. On the other hand, future military and naval expansion holds a massive opportunity for the growth of the global high-performance actuators market.
The global high-performance actuators market analysis is done by type, application, end use, and region. On the basis of type, the global high-performance actuators market is classified into rotary and linear. By application, it is segregated into industrial automation, vehicles and equipment, robotics, and others. End uses of actuators include industrial, automotive, military & defense, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.
The major companies profiled in this report include Linak, TiMaOTION Technology Co. Ltd., Ewellix, Ultra Motion, and SKF.
High-performance actuators market, by region
Asia-Pacific accounted for the largest market share in 2020. However, both Europe and Asia-Pacific is projected to grow at the fastest CAGR of 9.2% from 2021 to 2030. This is attributed to factors such as increase in industrial automation and use of robotics in various sectors in countries such as Germany, India, and China.
Asia-Pacific is projected as the most lucrative market.
High-performance actuators market, by type
The rotary segment accounted for the largest revenue share in the global high-performance actuators market in 2020, and is estimated to grow at a CAGR of 8.6%. However, the linear segment is projected to grow at the highest CAGR of 10.7%, owing to wide-scale application of high-performance linear actuators in the industrial sector.
Rotary type High Performance Actuators is projected as the most lucrative segment.
High-performance actuators market, by application
The industrial automation segment garnered the largest revenue share in 2020, and is projected to grow at a CAGR of 8.4%. However, the vehicles & equipment segment is projected to grow at the highest CAGR of 10.0% from 2021 to 2030. This is attributed to increase in demand for automotive and industrial equipment, which, in turn, is likely to boost the need for linear and rotary actuators.
Membrane separation is projected as the most lucrative segment.
High-performance actuators market, by end use
The others segment is projected to grow at the highest CAGR of 9.7%, owing to increase in demand for actuators in agricultural machinery and food & beverage sectors.
Industrial end-use is projected as the most lucrative segment.
Key benefits for stakeholders
- The report outlines the current trends and future estimations from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Impact Of Covid-19 On The Global High-performance Actuators Market
- The ongoing COVID-19 pandemic has hampered the economic growth by slowing down industrial expansion and production.
- U.S., India, Brazil, China, Russia, France, the UK, Italy, and Spain are some of the major industrially strong countries that were affected severely.
- COVID-19 has been affecting economies and industries in numerous nations due to lockdown, tour bans, and commercial enterprise shutdowns. This affected industries utilizing high-performance actuators such as industrial automation, robotics, automotive, aerospace, military, and defense.
- Thus, the demand for actuators was hampered, however, this decline is expected to recover in upcoming months, as government has started relaxing norms around the world for resuming business activities.
Key market segments
- Industrial Automation
- Vehicles & Equipment
- Military & Defense
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
High-Performance Actuators Market Report Highlights
Key Market Players
SKF, Ultra Motion, Ewellix
An actuator is a device that converts a control signal into mechanical motion using a source of electricity. Actuators are used in industrial plants to control valves, dampers, fluid couplings, and other industrial process control systems. For example, an industrial actuator can be powered by air, hydraulic fluid, or electricity. Depending on the applications, they are available in a variety of types, sizes, and power combinations. In addition, actuators help to automate several processes and systems in automotive, heavy machinery, agricultural, food, and transportation industries.
Increase in industrial automation to ramp up production output has boosted the demand for rotary actuators in servo motors. As businesses work to improve their legacy systems and replace old actuators with new ones, demand for linear actuators is projected to rise. Furthermore, as more industrial processes embrace self-control and positioning, the linear actuators market is predicted to grow at a steady rate. In vehicles, actuators are responsible for idle control, power take-off activities (particularly in high-performance vehicles), and air flap control for torque and power optimization.
However, The ongoing COVID-19 pandemic had a negative impact on market growth. Conversely, a rapid recovery of the manufacturing and robotics industry will help in reviving the global high-performance actuators market during the forecast period.
In addition, increase in product differentiation will help in capturing maximum revenue, and thus launch of new product will offer potential opportunities for market growth.