Linear Actuators Market to Record USD USD 9.66 Bn Growth | Dominated by Curtiss-Wright Corp., Emerson Electric Co., and Festo SE & Co. KG | Technavio
NEW YORK, Jan. 17, 2022 /PRNewswire/ -- Linear Actuators Market Facts at a Glance-
NEW YORK, Jan. 17, 2022 /PRNewswire/ -- Linear Actuators Market Facts at a Glance-
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According to the recent market study by Technavio, the Linear Actuators Market Size is expected to increase by USD 9.66 billion from 2020 to 2025, progressing at a CAGR of over 6% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate, occupying 45% of the global market share. China and Japan are the key markets for linear actuators in APAC. The market growth in this region will be faster than the growth of the market in other regions.
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Vendor Insights-
The linear actuators market is fragmented due to the presence of several regional and international players. Leading players in the market are continuously focusing on improving and innovating their product lines to increase their market shares. International players are growing organically by acquiring regional and local players. Small players are competing by providing quality products at low costs.
Curtiss-Wright Corp.: The company offers linear electromechanical actuators for the aerospace market.
Emerson Electric Co.: The company offers electric actuators under the brands Bettis and EIM.
Festo SE & Co. KG: The company offers linear actuators for a wide range of industrial applications.
Flowserve Corp.: The company offers electric actuators under the brand, Limitorque.
Kollmorgen Corp.: The company offers a wide variety of linear actuators including rodless actuators and others.
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Regional Market Outlook
The linear actuators market growth in APAC will be significant during the forecast period. Rapid industrialization and urbanization are contributing to the growth of the market in APAC. The report also provides detailed insights into the growth of the market across Europe, MEA, North America, and South America. The US, Germany, and France are identified as the prominent markets for linear actuators.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Drivers & Trends Driving the Market-
Hydraulic actuators are susceptible to chronic leaks and require frequent adjustment, which increases maintenance costs. Hence, automotive manufacturers are shifting toward the use of electric linear actuators. These are free from leaks and can be installed easily. They are relatively priced lower than hydraulic actuators and offer benefits such as high load capacity, better durability, and lower maintenance costs. Many such benefits are increasing their adoption in the automotive industry, which is driving the growth of the market.
The cost involved in the manufacture and procurement of linear actuators is lower compared to other product types. For example, the operational cost of a linear actuator is significantly lower than that of a hydraulic actuator. Besides, many vendors are shifting their production facilities to countries such as China and India due to the availability of low-cost labor. This is resulting in the low-cost production of linear actuators. This trend will have a positive impact on the growth of the market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Linear Actuators Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 6% |
Market growth 2021-2025 |
USD 9.66 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.66 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 45% |
Key consumer countries |
US, China, Germany, Japan, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Curtiss-Wright Corp., Emerson Electric Co., Festo SE & Co. KG, Flowserve Corp., Kollmorgen Corp., LINAK AS, Moog Inc., Parker Hannifin Corp., Siemens AG, and SMC Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, 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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SOURCE Technavio
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