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The pneumatic actuator market size is forecast to increase by USD 1.09 billion, at a CAGR of 5.45% between 2023 and 2028. The market growth analysis depends on several factors such as the increasing use of pneumatic actuators in food and beverage industry, the increasing demand for pneumatic actuators from oil and gas industry, and the increasing momentum of automation in industrial facilities.
The report includes a comprehensive outlook on the market, offering forecasts for the industry segmented by Product Type, which comprises quarter-turn, multi-turn, and linear. Additionally, it categorizes End-user into chemical and petrochemical, oil and gas, power generation, mining, and others, and covers Regions, including North America, Europe, APAC, South America, and Middle East and Africa. The market report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Pneumatic Actuator Market Forecast 2024-2028
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Our researchers studied the market research and growth data for years, with 2023 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Actuators are used in the food and beverage industry to maintain product integrity and comply with safety standards. The increase in demand for organic food and increasing regulations on food safety are driving the need for automated processes in the food and beverage industry. Manufacturers in this industry are incorporating automation and robotics in their product lines to make their processes more flexible and agile to retail demand. Actuators are used in both food-contact and non-food-contact applications.
Furthermore, new FDA rules in accordance with the Food Safety Modernization Act focus on sanitization and hygiene, which compels manufacturers to ensure clean and well-maintained equipment. This has driven the vendors of pneumatic actuators to offer products of different designs and product variants as per customer needs in food and beverage industry. Therefore, the application of pneumatic actuators in the food and beverage industry will drive the growth of the market during the forecast period.
Marlet players are moving toward predictive maintenance to improve accuracy and reduce production downtime. This is particularly useful in industries that use large motors in operations. In industries like oil and gas, mining, and chemical, IoT actuators can be very useful as even a small downtime in such industries can lead to high costs. These actuators make it easy to monitor actuator variables such as cylinder speed, travel, temperature, and pressure. With the help of modern sensors that provide high accuracy and are available at low cost, the integration of IoT and pneumatic actuators has been made easy. Together with smart monitors, these actuators can independently communicate so that they do not interfere with the main process line.
Additionally, a number of manufacturers designed and developed to capture data from machine components and analyze it at the local factory level, comparing the performance to design parameters. Thus, connecting sensors on pneumatics components to an edge gateway leads to major improvements in maintenance and safety as well as energy usage. Hence, such advancement in pneumatic actuators will drive the growth of the market during the forecast period.
Air pressure is hard to maintain in pneumatic actuators as pressurized air always tries to occupy free space. This often leads to air leakage, which results in energy loss. Thus, pneumatic actuators must be equipped with airtight equipment. As compressed air operates at high speed, it produces a lot of noise during ejection. Pressurized air in pneumatic actuators is also prone to condensation and, hence, requires lubrication to reduce friction. This air can also be contaminated by water, oil, or dirt, which can increase downtime considerably.
Furthermore, owing to compressed air, pneumatic actuators generate low force and low speed when subjected to low pressure. Consequently, such factors hamper the demand for pneumatic actuators from various end-users, thereby hindering the growth of the market during the forecast period.
The quarter-turn segment will account for a major share of the market's growth during the forecast period.? Quarter-turn pneumatic actuators are commonly used in valve control applications, especially for valves that require a 90-degree or quarter-turn movement to open or close. Quarter-turn pneumatic actuators often have a more compact design compared with other types of actuators. This makes them suitable for installations where space is limited. Additionally, these can provide high torque output with relatively low air consumption, enhancing their efficiency. As industries increasingly automate their processes, there is a growing need for efficient and reliable actuators to control valves and other equipment.
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The quarter-turn segment was valued at USD 1.61 billion in 2018. Quarter-turn actuators provide quick and precise rotational movement, making them suitable for various automated systems. Overall, the rising demand for quarter-turn pneumatic actuators is driven by their versatility, reliability, efficiency, and suitability for a wide range of industrial applications requiring precise rotational control of valves and other equipment. The demand for pneumatic actuators extends across multiple sectors such as manufacturing, automotive, pharmaceuticals, water treatment, food and beverage, and more, contributing to sustained demand, which in turn will drive the growth market during the forecast period.
Based on end-user, the market has been segmented into chemical and petrochemical, oil and gas, power generation, mining, and others. The chemical and petrochemical?segment will account for the largest share of this segment.? Pneumatic actuators used in chemical and petrochemical industries are often constructed from corrosion-resistant materials such as stainless steel or other alloys. The use of pneumatic valves and actuators enables smooth operations with an effective production process, minimal wastage and downtime, and safe waste disposal. Control valves play a vital role in regulating fluid flow, pressure, and temperature in chemical and petrochemical processes. Furthermore, the demand for chemical products is expected to rise during the forecast period, which will increase the demand for pneumatic actuators. Hence, the rise in production capacity in the chemical and petrochemical industry is expected to drive the growth of the market during the forecast period.
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North America is estimated to contribute 31% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. North America has a substantial share of the market, driven by its pivotal role in the oil and gas sector. Shale oil developments in the US and extensive oil sand deposits in Canada amplify the demand for pneumatic actuators. Ongoing upgrades in oil and gas technologies, coupled with substantial petrochemical projects, contribute to future market growth. In the food and beverage industry, compliance with the new FDA rule emphasizing hygiene boosts the demand for pneumatic actuators. However, the shift to solar power hampers growth in the mining sector. Technological advancements and the imperative for high-quality machinery position North America for increased market revenues, fueled by its prominence in oil and gas production.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AIRTECH PRODUCTS Inc., Crane Holdings Co., Eaton Corp. Plc, Emerson Electric Co., Festo SE and Co. KG, Flowserve Corp., Flowtorq Engineering Pvt. Ltd., HKS Dreh Antriebe GmbH, Honeywell International Inc., Marsh Automation Pvt. Ltd., Moog Inc., Parker Hannifin Corp., Pentair Plc, ROTEX Controls Inc., Rotork Plc, Siemens AG, SMC Corp, Tolomatic Inc., and Schlumberger Ltd.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Pneumatic Actuator Market Scope |
|
Report Coverage |
Details |
Page number |
181 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.45% |
Market Growth 2024-2028 |
USD 1.09 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.89 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., AIRTECH PRODUCTS Inc., Crane Holdings Co., Eaton Corp. Plc, Emerson Electric Co., Festo SE and Co. KG, Flowserve Corp., Flowtorq Engineering Pvt. Ltd., HKS Dreh Antriebe GmbH, Honeywell International Inc., Marsh Automation Pvt. Ltd., Moog Inc., Parker Hannifin Corp., Pentair Plc, ROTEX Controls Inc., Rotork Plc, Siemens AG, SMC Corp, Tolomatic Inc., and Schlumberger Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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