Sep 4, 2019   SOURCE: BusinessWire

Global Electric Actuators Market 2019-2023 | 7% CAGR Project over the Next Five Years | Technavio

The global electric actuators market size is poised to grow by USD 942.93 million during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 7% during the forecast period.

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Technavio has announced its latest market research report titled global electric actuators market 2019-2023. (Graphic: Business Wire)

Technavio has announced its latest market research report titled global electric actuators market 2019-2023. (Graphic: Business Wire)

Read the 159-page research report with TOC on "Electric Actuators Market Analysis Report by end-user (automotive industry, water and wastewater industry, marine industry, aerospace and defense industry, and others), type (linear actuators, and rotary actuators) and geography (APAC, Europe, North America, South America, and MEA) 2019 - 2023" Request a Free Sample Report

The market is driven by the growing demand for commercial and defense aircraft. In addition, the increasing use of electric actuators in industrial robots and automation to further boost the growth of the electric actuators market.

The demand for commercial and defense aircraft is increasing globally, owing to the increase in air passenger traffic. This is increasing the adoption of electric actuators as they are a cost-effective and viable solution instead of the existing hydraulic and pneumatic actuator systems in commercial and defense aircraft. They also help in improving the performance of commercial and defense aircrafts along with providing more accurate control and faster reaction time. Hence, the growing demand for commercial and defense aircrafts will fuel the growth of the electric actuators market during the forecast period.

There has been a significant increase in the need for robotics and automation in the industrial sector owing to the ongoing advances in technology, rising labor costs, and intensified competition from low-wage overseas locations. This is increasing the demand for electric actuators, which help to control the speed and position required by each robot. Electric actuators are also used in industrial robots for head control, arm control, leg control, and any other attachments that need to interact with the outer environment.

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The report includes detailed profiles of the leading companies & prominent vendors of the market:

  • ABB Ltd.
  • Emerson Electric Co.
  • General Electric Co.
  • LINAK AS
  • Moog Inc.

Market Segmentation by Type:

The electric actuators market can be broadly categorized into the following segments:

  • Linear actuators
  • Rotary Actuators

Key Regions for the Electric Actuators Market:

Featuring a breakdown of region-wise market shares until 2019.

  • APAC
  • Europe
  • North America
  • South America
  • MEA

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

     

Market Sizing

  • Market definition
  • Market size and forecast

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Related Reports on Industrials are:

Rotary Actuators Market – Global Rotary Actuators Market by products (pneumatic rotary actuators, electric rotary actuators, and hydraulic rotary actuators) and geography (the Americas, APAC, and EMEA).

Industrial Actuators Services Market – Global Industrial Actuators Services Market by application (retrofit services, commissioning and calibration services, repair, maintenance, and consulting services), end-user (oil and gas industry, chemical and petrochemicals industry, water and wastewater treatment industry, power industry, metals and mining industry, and others), service providers (OEM service providers and third-party service providers), and geography (the Americas, APAC, and EMEA).

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