Global Electric Actuators Market By Torque (Less than 5,000 Nm, 5,000 Nm to 12,000 Nm and Others), By Rotary Actuators Types (Quarter Turn, Multi Turn), By End-Use (Chemical & Mining, Oil & Gas and Others) and By Regions - Global Forecast to 2030

“Global Electric Actuators Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The Global Electric Actuators Market has been segmented on the basis of torque, types of rotary actuators, end-use industry, as well as regions and countries.

The Global Electric Actuators Market was valued at UЅD $10,358.4 Мn in 2020, and is projected to achieve a valuation of UЅD $18,658.5 Мn by 2030, at a САGR of 7.2%.

Overview:

Electric actuators convert electricity into kinetic energy in a rotary motion or a single linear direction. They automate manual valve functions to improve efficiency and are a critical part of numerous applications in various industries.

Dynamics:

The numerous advantages associated with electric actuators, and the increasing number of industries utilizing these devices for varying purposes are some of the primary factors that are anticipated to fuel the revenue growth of the global electric actuators market over the next 10 years. Moreover, electric actuators are easier to control and offer various benefits such as an accurate handle on speed, torque, acceleration, position, etc., they are even known to be more energy-efficient and can be reprogrammed or reconfigured to its user’s specifications. These are some of the other factors that are slated to profoundly influence market growth opportunities for his global industry in the coming years.

Furthermore, the increasing demand for various electronic devices such as smartphones, laptops, TVs, etc., is a factor that is leading to the need for higher production volumes, subsequently resulting in a significant boost in the sale of electric actuators. This is also expected to augment revenue growth for the global electric actuators market over the forecast period.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global electric actuators market is no different, and this factor is anticipated to have a negative impact on the revenue growth of this industry. In addition, the initial costs associated with the implementation of electric actuators in various industries, as well as the costs associated with the maintenance and operation of these devices is also a factor that could impede on the revenue growth of the global electric actuators market in the coming years.

Nonetheless, the introduction of technologically advanced actuators by various key market players, as well as the growing demand for electric vehicles are some of the other factors that are expected to play a pivotal role in the increased adoption and incorporation of electric actuators in numerous industries, more so the automotive industry. This factor is expected to further augment the revenue growth of the global electric actuators market in the years to come.

Segmentation of the global electric actuators market is as follows:

In terms of torque, the ‘less than 5,000 Nm’ segment accounted for the maximum number of revenue shares of the global electric actuators market in 2020, and is expected to continue doing so over the forecast period. The ‘5,000 Nm to 12,000 Nm’ segment is also anticipated to index a high CAGR over the next 10 years.

With regards to types of rotary actuators, the multi-turn segment accounted for the highest number of revenue shares of the global electric actuators market in 2020, and is anticipated to continue to do so over the next decade. The quarter-turn segment is also indicative of registering a high CAGR over the forecast period.

On the basis of end-use industry, oil & gas segment accounted for the maximum number of revenue shares of the global electric actuators market in 2020, and this segment is indicative of retain its market position over the forecast period. However, the industrial process (general industry) segment is slated to index the highest CAGR over the next 10 years.

Regional Segmentation and Analysis:

The markets in North America accounted for the maximum number of revenue shares of the global electric actuators market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. However, the markets the Asia Pacific region are expected to register the highest CAGR over the next 10 years.

Segmentation of the Global Electric Actuators Market:

Segmentation by Torque:

• Less than 5,000 Nm
• 5,000 Nm to 12,000 Nm
• More than 12,000 Nm

Segmentation by Types of Rotary Actuators:

• Quarter Turn
• Multi Turn

Segmentation by End-Use Industry:

• Chemical & Mining
• Oil & Gas
• Food & Beverage
• Shipbuilding & Marine
• Nuclear (Power Generation)
• Industrial Process (General Industry)
• Other Industries

Segmentation by Regions:

• North America
• Europe
• APAC
• Latin America
• MEA