Electric Actuators Market Size Expected to Grow by USD 3.96 Billion |  Growing demand for commercial and defense aircraft to enhance market growth

Electric Actuators Market Size Expected to Grow by USD 3.96 Billion | Growing demand for commercial and defense aircraft to enhance market growth

NEW YORK, May 13, 2022 /PRNewswire/ — The Electric Actuators Market Size Is Expected To Grow By $3.96 billion from 2020 to 2025. Moreover, 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, maritime industry, aerospace and defense industry, and others), type (linear actuators and rotary actuators) and geography (APAC, Europe, North AmericaMEA, South AmericaACPA, Europe, North AmericaAME and South America).

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

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The electric actuators market covers the following areas:

Electric Actuators Market Sizing
Electric Actuators Market Forecast
Electric Actuators Market Analysis

Driver and challenge

the growing demand for commercial and defense aircraft is driving the growth of the global electric actuator market. There are major aircraft owners in APAC and Europe, with a combined share of more than half of the world’s total aircraft fleet. The increase in passenger 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 reaction time. Additionally, the use of electric actuators in commercial and defense aircraft helps reduce the burden on maintenance personnel and provides greater reliability and lower life cycle cost. Therefore, with the growth in demand for commercial and defense aircraft, the demand for electric actuators is expected to increase over the forecast period.

the risk of defective and poorly insulated electrical actuators and their malfunctions will challenge the growth of the global electric actuators market share during the forecast period. Electric actuators are designed to operate and withstand different temperatures. These products must be stored properly, with appropriate isolation measures to prevent leakage. Gas leaks due to faulty or poorly insulated electric actuators can harm the health of employees and people near the electric actuators. Inhalation of argon can cause asphyxiation or suffocation. It can also cause problems such as tingling sensation in the eyes, vomiting, dizziness, rapid breathing, excitement, headache, excessive salivation, tingling nose and throat and can lead to a loss of consciousness. This can lead to compliance issues with authorities. Thus, faulty and poorly insulated electric actuators may impact their demand during the forecast period.

Regional analysis

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

Companies cited

  • ABB Ltd.

  • Curtiss-Wright Corp.

  • Emerson Electric Co.

  • General Electricity Company.

  • LINAK LIKE

  • Moog Inc.

  • Parker Hannifin Corp.

  • Rotork Plc

  • Siemens AG

  • SMC Corp.

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Scope of Electric Actuators Market

Report cover

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 5.24%

Market Growth 2021-2025

$3.96 billion

Market structure

Fragmented

Annual growth (%)

4.76

Regional analysis

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

Successful market contribution

APAC at 32%

Main consumer countries

United States, China, Germany, Japan and United Kingdom

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

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, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by End User

6 Market Segmentation by Type

7 Customer Landscape

8 Geographic landscape

9 drivers, challenges and trends

10 Supplier Landscape

11 Vendor Analysis

12 Appendix

About Us
Technavio is a global leader in technology research and consulting. 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 over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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