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The rotary actuators market share is expected to increase by USD 800.99 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.52%.
This rotary actuators market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers rotary actuators market segmentations by product (pneumatic rotary actuators, electric rotary actuators, and hydraulic rotary actuators) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The rotary actuators market report also offers information on several market vendors, including ABB Ltd., AUMA Riester GmbH and Co. KG, Curtiss Wright Corp., Emerson Electric Co., Flowserve Corp., Harmonic Drive Systems Inc., Holland Motion Group, IMI Critical Engineering, LINAK AS, MISUMI Group Inc., Moog Inc., Oriental Motor Co. Ltd., Parker Hannifin Corp., Pentair Plc, Rockwell Automation Inc., Rotomation Inc., Rotork Plc, Schlumberger Ltd., Siemens AG, SMC Corporation, and Tameson BV among others.
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The growth of industrial automation is notably driving the rotary actuators market growth, although factors such as volatility in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the rotary actuators industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Rotary Actuators Market Driver
The growth of industrial automation is one of the key drivers supporting the rotary actuators market size growth. For instance, process automation aids in continuous production processes to transform raw materials into final products, where the continuous process is monitored and controlled by actuators. Meanwhile, to increase productivity, manufacturers are integrating actuation devices into their manufacturing units. Significantly, rotary actuators are extensively used in various end-user industries like semiconductors, oil and gas, packaging, and aerospace and defense. For example, a printed circuit board (PCB) assembly unit works in a circular motion. The precision of the board's position is the most important requirement during the manufacturing process. Thus, electric rotary actuators are used to control and monitor the position of circuit boards over the PCB assembly unit. These factors will drive the rotary actuators market size growth during the forecast period.
Key Rotary Actuators Market Trend
The advent of flood-proof submersible electric actuators is one of the key rotary actuators market trends that is contributing to the market growth. The flood-proof submersible electric rotary actuator is a recent innovation in the global rotary actuators market. For instance, Emerson Electric launched EIM Aquanaught in August 2018. It is a waterproof submersible electric actuator designed to meet critical isolation demands in wastewater treatment plants during a large volume of water to be processed. The actuator can operate even when submerged under 150 feet of dirty water for seven days. The product features a mechanical design with a waterproof enclosure and hermetically sealed connections that ensure uninterrupted plant operation during flooding conditions. Such innovative product launches will propel the rotary actuators market growth during the forecast period.
Key Rotary Actuators Market Challenge
Volatility in raw material prices is one of the factors hindering the rotary actuators market growth. The key raw materials used in the manufacture of actuators are copper, stainless steel, and other metal alloys. However, the volatility in the prices of these raw materials can be a deterrent to market growth. The fluctuations in raw material prices might affect the productivity of the vendors. The highly competitive nature of the market prevents the vendors from transferring the increased cost to the end-user, which reduces their profit margins. Therefore, the volatility in the cost of raw materials is a key price challenge and might hinder the growth of the rotary actuators market during the forecast period.
This rotary actuators market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global rotary actuators market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the rotary actuators market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the rotary actuators market encompasses successful business strategies deployed by the key vendors. The rotary actuators market is fragmented and the vendors are deploying growth strategies such as price, product differentiation, brand, quality, and performance to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The rotary actuators market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the rotary actuators market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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32% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the rotary actuators market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rapid growth in the production and sales of robots will facilitate the rotary actuators market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 declined the growth of the rotary actuator market in APAC. However, in the first half of 2021, with the gradual decrease in the number of people affected by the disease and the lifting of lockdowns, factories and manufacturing units resumed operations and slowly gained their pace, which was hindered due to the pandemic. This led to an increase in the sales of automobiles. Thus, the rotary actuator market is expected to witness a high growth rate during the forecast period.
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The rotary actuators market share growth by the pneumatic rotary actuators segment will be significant during the forecast period. The demand for pneumatic rotary actuators will increase with the expansion of petrochemical plants globally as rotary pneumatic actuators are used in the automated control valves of these petrochemical plants. Similarly, the oil and gas industry is also witnessing constant growth with the increasing demand for crude oil products. A considerable amount of demand for pneumatic rotary actuators is expected to come from the oil and gas industry. The other key contributor to the growth of the global pneumatic rotary actuators market will be the water and wastewater treatment industry and the mining industry. Overall, the global pneumatic rotary actuators market is expected to witness an accelerating year-over-year growth rate during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the rotary actuators market size and actionable market insights on post COVID-19 impact on each segment.
Rotary Actuators Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.52% |
Market growth 2022-2026 |
$ 800.99 million |
Market structure |
Fragmented |
YoY growth (%) |
4.11 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
APAC at 32% |
Key consumer countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ABB Ltd., AUMA Riester GmbH and Co. KG, Curtiss Wright Corp., Emerson Electric Co., Flowserve Corp., Harmonic Drive Systems Inc., Holland Motion Group, IMI Critical Engineering, LINAK AS, MISUMI Group Inc., Moog Inc., Oriental Motor Co. Ltd., Parker Hannifin Corp., Pentair Plc, Rockwell Automation Inc., Rotomation Inc., Rotork Plc, Schlumberger Ltd., Siemens AG, SMC Corporation, and Tameson BV. |
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, Market condition analysis for 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 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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