A pneumatic cylinder called a rotary actuator enables a stroke to oscillate through a predetermined angle while twisting or angling. They survive a long time and offer a considerable force (torque) given their size. Rotary actuators can simplify a design and aid in maintenance issues. Rotary actuators are often used in a wide range of end-user industries, such as semiconductors, oil and gas, packaging, and aerospace & military. Rotating actuators are used in gas turbines in the oil and gas industry to maximize efficiency and reduce operating and maintenance expenses.
According to SPER market research, ‘Rotary Actuators Market Size-By Product, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Rotary Actuators Market is predicted to reach USD 140.82 billion by 2033 with a CAGR of 8.44%.
The growth of industrial automation is one of the key factors driving the market for rotary actuators. Process automation, for instance, aids in transforming raw materials into completed goods in continuous production processes where the continuous process is tracked and regulated by actuators. In the meanwhile, manufacturers are adding actuation devices to their production processes to increase productivity. Furthermore, rotary actuators are widely used in a variety of end-use sectors, such as semiconductors, oil & gas, packaging, aerospace, and defense.
The instability of raw material prices is one of the factors inhibiting the market for rotary actuators from increasing. The primary raw materials used to manufacture actuators are copper, stainless steel, and various metal alloys. The price volatility of these basic materials, however, may impede the market from increasing. Changes in raw material prices may have an impact on vendor productivity. Because of the market's high rivalry, sellers are unable to pass on rising costs to customers, resulting in decreased profit margins. As a result, raw material price volatility is a significant pricing concern that may hinder the development of the rotary actuator market throughout the forecast period.
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The COVID-19 outbreak has disrupted worldwide supply chains and business activities. While the pandemic had no impact on 2019 valve actuator demand, market forecasts consider industry trends as well as how the COVID-19 pandemic may affect the valve actuators market in various vertical industries. The current COVID-19 pandemic outbreak has harmed most businesses that rely on actuators, including agriculture, healthcare, automotive, aerospace and defense, and food and beverages.
Geographically, The rotary actuator market's regional research demonstrates considerable variances in demand and growth across different geographic locations. Because of the healthy manufacturing sector and the automation of numerous industrial processes, the market for rotary actuators in North America, notably in the United States, has seen continuous expansion. With its concentration on industrial automation and a robust automotive industry, Europe has also demonstrated a significant presence in the rotary actuator market. Additionally, some of the market key players are ABB LTD, Emerson Electric Co., Flowserve Corporation, LINAK AS, Rotork plc, SMC Corporation.
Rotary Actuators Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product: Based on the Product Type, Global Rotary Actuators Market is segmented as; Electric Rotary Actuators, Hydraulic Rotary Actuators, Pneumatic Rotary Actuators
By Application: Based on the Application, Global Rotary Actuators Market is segmented as; Agriculture, Construction, Industrial, Metals & Mining, Oil & Gas
By Region: This report also provides the data for key regional segments of North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
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Rotary Actuators Market Outlook
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