Global Rack & Pinion Pneumatic Actuator Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Rack & Pinion Pneumatic Actuator Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Rack & pinion pneumatic actuators are rotary actuators, used for automation of quarter turn valves such as ball or butterfly valves. These actuators are also known as limited rotation cylinders. These actuators convert energy of compressed air to an oscillating rotary motion. The clean, dry & processed gas required by the actuator is provided by a central compressed air station, which generally supports a range of pneumatic devices in a process system. Key characteristics of rack & pinion pneumatic actuators include durability, less expensive and better suited for hazardous environments, provide higher torque in comparison to their size and require less maintenance.

Market Overview:

The latest research study on the global Rack & Pinion Pneumatic Actuator market finds that the global Rack & Pinion Pneumatic Actuator market reached a value of USD 767.41 million in 2022. It’s expected that the market will achieve USD 930.82 million by 2028, exhibiting a CAGR of 3.27% during the forecast period.

Influence of COVID-19 Outbreak on Rack & Pinion Pneumatic Actuator Industry Development

The COVID-19 outbreak has disrupted business and economic activities globally. It is expected to have a short-term impact on the rack & pinion pneumatic actuator market to a certain extent. With several countries across the globe announcing nationwide lockdowns and temporary closures of various industries, production and manufacturing have been severely affected. Stopping production not only aggravates the shortage of funds for small and medium-sized enterprises, but also reduces the solvency of enterprises, which may affect production and sales. Some enterprises have difficulties in operation and even go bankrupt. The epidemic situation has seriously affected the logistics and transportation, and the transportation of raw materials is difficult. The industrial chain of small and medium-sized enterprises is imperfect and fragile. Trade barriers have further impacted the demand-supply gap. Companies operating in the rack & pinion pneumatic actuator market have suspended non-essential visits/activities until the COVID-19 outbreak is resolved.
With the gradual control of the epidemic, some factories began to resume operation. However, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.

Market Driver Analysis

Rise in use of advanced actuators in different verticals is a key opportunity for market. The rapid industrialization, advancement in technologies wide number of applications employing the use of actuators such as increase in the demand of vehicles, minerals, metals. Previously actuators used where a heavy machinery were required but presently the actuators used in various industries such as automobile, healthcare, mining industry, aerospace and defense among others.
The APAC will witness a faster growth because of the increasing demand for rack & pinion pneumatic actuator in the region. China and India are among the largest makers of industrial machines such as compressors, turbines, and pumps. The presence of many end-user industries in the region will increase the need for rack & pinion pneumatic actuator. Europe is one of the largest producers of automobiles in the world.
GlaxoSmithKline recently announced its plan to build a new respiratory and human immunodeficiency virus (HIV) medicine manufacturing plant in the UK. The pharmaceutical industries widely use automation equipment including rack & pinion pneumatic actuator. Saudi Arabian Oil announced a joint venture signed with Honeywell International and TechnipFMC to enter petrochemical business in the US. The petrochemical industry requires many rotating industrial machines that are produced using machine tools. These developments are expected to increase the growth of the global rack & pinion pneumatic actuator market during the forecast period.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview

Flowserve is one of the major players operating in the Rack & Pinion Pneumatic Actuator market, holding a share of 17.58% in 2020.

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment throughout the world. The Company provides pumps, valves, and mechanical seals primarily for the refinery and pipeline segments of the petroleum, chemical processing, power generation, and water treatment industries.

Rotork plc is a holding company. The Group provides actuation solutions through the design, manufacture and support of actuators, systems and related products to the valve industry. The main business operations are: Process Control, Electric, Fluid Systems and Gears.

Segmentation Overview:

Among different product types, Double-Acting segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Chemical segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Rack & Pinion Pneumatic Actuator market covered in Chapter 3:

Rotex
VALBIA
BAR GmbH
Crane
Burkert
Flowserve
Haitima
Emerson
Rotork
DynaQuip
St. Hans
Nihon KOSO
Sirca International
Air Torque
Juhang
Bray

In Chapter 4 and Chapter 14.2, on the basis of types, the Rack & Pinion Pneumatic Actuator market from 2018 to 2029 is primarily split into:

Double-Acting
Single- Acting

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Rack & Pinion Pneumatic Actuator market from 2018 to 2029 covers:

Chemical
Pharmaceuticals
Oil and Gas
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)