Damper Actuators Market to Grow by USD 563.88 million during 2020-2024 due to Surging Construction Activity | Technavio

The global damper actuators market size is poised to grow by USD 563.88 million during 2020-2024, progressing at a CAGR of almost 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Damper Actuators Market 2020-2024 (Graphic: Business Wire)

The damper actuators market is driven by the surge in construction activity. Construction activity is critical to the global economy and is a testament to the development of a country. There have been significant technological changes in this sector not only for affordable living but also to accommodate the rising needs of industrialization and commercial activities. Builders are constantly working on updated technologies that will enable them to construct within the ambit of environmental regulations, complying with the best efficiency standards possible. The availability of new technology at affordable prices and the capability of serving customized HVAC solutions have encouraged commercial and residential end-users to equip their buildings with HVAC as a part of the renovation. HVAC retrofits in countries such as the US, Canada, the UK, Germany, and energy efficiency retrofits in China, India, and Japan are driving the market of damper actuators.

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Report Highlights:

• The major damper actuators market growth came from the commercial segment in 2019, and is expected to witness the fastest growth during the next five years.
• North America was the largest damper actuators market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the consistent efforts from the governments in reinforcing and implementation of energy efficiency norms and the presence of experienced players with high expertise.
• The global damper actuators market is fragmented. Azbil Corp., BELIMO Holding AG, Dwyer Instruments Inc., ElectroCraft Inc., Honeywell International Inc., Johnson Controls International Plc, National Environmental Products Ltd., Rotork Plc, Schneider Electric SE, and Siemens AG are some of the major market participants. To help clients improve their market position, this damper actuators market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the damper actuators market 2020-2024 is expected to have neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Energy Efficiency Programs and Government Regulations will be a Key Market Trend

The inclusion of efficiency mandates and retrofit incentives, and has made global players invest more in R&D activities and training for their employees. Players across the construction sector value chain are starting to see business opportunities in having green and energy-efficient buildings in their portfolio. On the other hand, developed as well as developing countries are imposing new sanctions and updating the existing laws to incorporate climate change policies. The availability of new technology at affordable prices and the capability of serving customized HVAC solutions have made commercial and residential end-users equip their buildings with HVAC as a part of the renovation. HVAC retrofits in countries such as the US, Canada, the UK, Germany, and energy efficiency retrofits in China, India, and Japan are driving the market of damper actuators.

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Damper Actuators Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist damper actuators market growth during the next five years
• Estimation of the damper actuators market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the damper actuators market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of damper actuators market vendors

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Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Commercial - Market size and forecast 2019-2024
• Residential - Market size and forecast 2019-2024
• Industrial - Market size and forecast 2019-2024
• Market opportunity by End-user

Market Segmentation by Type

• Market segments
• Comparison by Type
• Non-spring return damper actuators - Market size and forecast 2019-2024
• Spring return damper actuators - Market size and forecast 2019-2024
• Market opportunity by Type

Customer Landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Azbil Corp.
• BELIMO Holding AG
• Dwyer Instruments Inc.
• ElectroCraft Inc.
• Honeywell International Inc.
• Johnson Controls International Plc
• National Environmental Products Ltd.
• Rotork Plc
• Schneider Electric SE
• Siemens AG

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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

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