Electric Actuators Market by Product (Hybrid Actuator, Linear Actuator, Rotary Actuator), End-use Industry (Aerospace & Defense, Agriculture, Automotive), Distribution Channel - Global Forecast 2024-2030

Electric Actuators Market by Product (Hybrid Actuator, Linear Actuator, Rotary Actuator), End-use Industry (Aerospace & Defense, Agriculture, Automotive), Distribution Channel - Global Forecast 2024-2030

The Electric Actuators Market size was estimated at USD 13.33 billion in 2023 and expected to reach USD 14.13 billion in 2024, at a CAGR 6.50% to reach USD 20.72 billion by 2030.

The electric actuators are a range of devices that convert electrical energy into mechanical torque, with pivotal applications in various machinery and equipment systems. These actuators are integral components in automation processes and systems where precision, efficiency, and control are required. Electric actuators are favored over hydraulic or pneumatic versions due to their cleaner, quieter, and more energy-efficient operation. Moreover, the escalating focus on sustainability has made electric actuators more appealing due to their lower power consumption. The shift towards sustainability pushes industries to adopt solutions that consume less power, where electric actuators are highly favorable. However, the cost of advanced electric actuators can be prohibitive for small and medium enterprises, limiting their usage across the industrial sector. Moreover, complexity in installation and maintenance, which requires skilled technicians, adds to operational costs. Nevertheless, the emerging utilization of electric actuators in solar tracking systems and renewable energy platforms is expected to increase the adoption of electric actuators. Advancements in technology, including IoT integration and miniaturization, are propelling market growth by expanding applications of electric actuators.

Regional Insights

Electric actuators in the Americas are predominantly used in the automotive, manufacturing, and energy sectors. The significant demand for robust and efficient actuation systems with an increasing trend towards automation and precision in manufacturing processes has improved the demand for electric actuators. Investment in R&D, especially in the automotive and energy sectors, with numerous patents filed, is expected to innovate adaptable and efficient actuator designs. Electric actuators are essential for automating industrial processes and automotive applications in the European Union. With strict emissions and energy efficiency regulations, EU countries focus heavily on advanced, energy-efficient technologies. The Middle East has seen substantial growth in infrastructure projects, including water & wastewater management and energy, which demand high-quality electric actuators. The Asia Pacific region is rapidly emerging as a significant consumer of electric actuators, driven by growth in manufacturing sectors, automotive industries, and innovative city initiatives. With increasing automation in manufacturing industries and expanding infrastructure, the region is experiencing a surge in demand for electric actuators. Asia-Pacific is seeing growth in technology adoption and local manufacturing, supported by government initiatives that are creating a potential platform for the electric actuators market.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Electric Actuators Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising investments in process automation and automated manufacturing processes
Growing deployment of actuators in automotive sector for braking and controlling vehicle performance
Expansion of renewable energy projects and adoption of actuators to lower emissions

Market Restraints

Complexities in the manufacturing of actuators and the need for frequent maintenance

Market Opportunities

Development of smart electric actuators equipped with sensors and connectivity technologies
Growing trend towards industry 4.0 across the globe

Market Challenges

Issues related to power consumption, noise, and leaks

Market Segmentation Analysis

Product: Increasing adoption of hybrid actuators for high precision and control
End-use Industry: Rising adoption of electric actuators in automotive sector

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Electric Actuators Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Electric Actuators Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Emerson Launches Fisher Easy-Drive 200R Electric Actuator, Enhancing Control in Process Industries

Emerson has introduced the Fisher Easy-Drive 200R electric actuator, a significant advancement designed to meet the needs of process industries requiring reliable valve control. This new actuator is engineered to provide precise automation to rotary valves used in challenging environments. It features an optimized design that simplifies installation and enhances both performance and ease of use. The actuator is compatible with a wide range of rotary valves and is equipped with advanced diagnostics capabilities, enabling predictive maintenance and operational efficiency.

Moog Unveils Advanced MG Series Electric Servo Actuators

Moog Inc. has introduced its new MG series of electric servo actuators, marking a significant advancement in its product offerings. Designed to cater to a wide range of industrial applications, these actuators are engineered for exceptional accuracy, high dynamic performance, and enhanced overall efficiency. The MG series incorporates the latest in servo technology and materials science, resulting in actuators that provide increased precision and reliable and robust performance.

Introducing the Limitorque QX Series-B, Smart Electric Actuator Technology

Flowserve has expanded its lineup with the new Limitorque QX Series-B quarter-turn smart electric actuators, engineered for reliability and enhanced performance. These actuators are designed with sophisticated diagnostic capabilities and an intuitive user interface, making them suitable for various industrial valve and damper applications. In particular, they offer double-sealed enclosures to ensure robust operation even in the harshest environments.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Electric Actuators Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Electric Actuators Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Actuonix Motion Devices Inc., ARCA Regler GmbH, AUMA Riester GmbH & Co. KG, CKD Corporation, Curtiss-Wright Corporation, Emerson Electric Co., Flowserve Corporation, General Electric Company, IMI PLC, Indelac Controls Inc., Janatics, JHFOSTER Company, LINAK Group, Moog Inc., Parker Hannifin Corp, Process Systems, Progressive Automations Inc., Regal Rexnord Corporation, Rotork Group, Samson AG, Schaeffler Technologies AG & Co. KG, Spirax Sarco Limited, TiMOTION Technology Co. Ltd., Tolomatic, Inc., and York Precision Machining & Hydraulics LLC.

Market Segmentation & Coverage

This research report categorizes the Electric Actuators Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
Hybrid Actuator
Linear Actuator
Rotary Actuator
End-use Industry
Aerospace & Defense
Agriculture
Automotive
Energy
Food & Beverage
Oil & Gas
Distribution Channel
Offline
Online
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year