Electric Actuator Market Outlook - 2026
The global electric actuator market size was valued at $15.54 billion in 2018 and is projected to reach $28.73 billion by 2026, registering a CAGR of 6.6% from 2019 to 2026.
An electric actuator is a mechanical or electromechanical device, which is used to convert electricity into kinetic energy. Actuators are used in various industries for regulating and directing the flow of fluids during various processes.
Actuators find application in various end-use industries such as water and wastewater treatment, food & beverage, oil & gas, refining, paper & pulp, mining, chemical, healthcare, marine, energy, and construction. There are two different types of electric actuators present in the market, which include rotary electric actuators and linear electric actuators. The rotary actuator rotates from the open to close using the ball, plug valves & butterfly, and the linear electric actuator offers linear motion via motor-driven ball screw or screw assembly.
The electric actuators are used for all aspects of remote manual control and some automatic control loops in conjunction with electronic control equipment. The electric actuator comprises three units motor unit, drive unit, and gear unit. The motor unit is used for operating small valves and gear unit contained gear ratios, which resolute in conjunction with the motor size and drive unit.
The electric actuator market growth is majorly driven by an increase in demand from the oil & gas industry, as the oil & gas industry is experiencing an increase in the requirement for electric linear actuators. Also, growth in water and wastewater treatment industries and an increase in safety measurements in industries drive the market growth.
Furthermore, electric actuator finds their application in the extraction of crude oil & gas till they reach the end customers through refinery and oil terminals and depots, wherein an increase in investment in the oil & gas industry in emerging economies is expected to provide lucrative opportunities for the electric actuator manufacturing companies. Thus, growth in automation for industrial processes is also expected to boost the growth of the electric actuator industry. However, the rise in the adoption of electric actuators in commercial and defense aircraft is expected to provide growth opportunities for the market.
The significant impacting factors in the electric actuator market include a surge in demand from the oil & gas industry, due to the higher use of shale gas as an energy source would lead to a rise in the demand for actuators. The oil & gas industry is currently creating the highest demand for electric linear actuators. These actuators are used for valve automation processes. In addition, growth in the water and wastewater treatment industry, owing to water consumption and pollution has witnessed significant growth due to an increase in population, environmental deprivation, and economic development.
Furthermore, technologically advanced processing methods, gradual increase in the need for automation in the process industries, and increase in investments by the emerging economies in the oil & gas industry. However, an increase in competition from domestic manufacturers is expected to hinder the growth of the market. Each of these factors is anticipated to have a definite impact on the electric actuator market during the forecast period.
By Type
Rotary Actuators would exhibit the highest CAGR of 8.70% during 2019-2026.
Segmentation
The global electric actuator market is segmented based on type, industry vertical, and region. Based on type, the market is divided into linear electric actuators and rotary electric actuators. The linear electric actuator segment dominated the electric actuator market in terms of revenue in 2018. By industry vertical, the market is divided into oil and gas, energy and power, automotive, aerospace and defense, water and wastewater, and others, whereas the oil and gas segment is expected to grow at the highest CAGR from 2019 to 2026.
By Industry Vertical
Oil and Gas would exhibit the highest CAGR of 9.10% during 2019-2026.
By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the electric actuator market in terms of revenue in 2018. Owing to the increase in adoption of pipeline transportation and power projects in economies countries such as China, India, and Japan. In addition, increase in discoveries of oil & gas reserves in India and increase in adoption of pipeline transportation further drive the growth of the Asia-Pacific electric actuator market during the forecast period.
By Region
Asia-Pacific would exhibit the highest CAGR of 7.80% during 2019-2026.
Top Impacting Factors
Factors such as an increase in demand from the oil & gas industry, growth in the water and wastewater treatment industry, technologically advanced processing methods, competition from domestic manufacturers, and a rise in the adoption of electric actuators in commercial and defense aircraft are expected to significantly affect the growth of the global electric actuator market. These factors are anticipated to either drive or hamper the electric actuator market growth.
Competitive Analysis
The key players operating in the market include Emerson Electric Co., Flowserve Corporation, Curtiss-Wright Corporation, ABB, Rotork, General Electric, AUMA Riester GmbH & Co. KG, Moog Inc, Ewellix, and Actuonix Motion Devices. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
Some of the other major players in the automobile industry such as Daimler, Ford, Nissan, Volkswagen, and Suzuki have established their production bases and are focusing on the development of advanced vehicles in India. High production capacities of automobile manufacturing in India is expected to provide lucrative opportunities for the electric actuator market during the forecast period.
Key Benefits for Stakeholders:
- This study includes the analytical depiction of the global electric actuator market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The overall electric actuator market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information regarding the key drivers, restraints, and opportunities in the electric actuator market.
- The electric actuator market share is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the electric actuator industry.
- The report includes the electric actuator market share of key vendors and electric actuator market trends.
Electric Actuator Market Report Highlights
| Aspects | Details |
 By Industry Vertical |
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 By Region |
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 Key Market Players | ABB, Curtiss-Wright Corporation, Ewellix (SKF Motion Technologies), General Electric, AUMA Riester GmbH & Co. KG, Actuonix Motion Devices Inc., Emerson Electric Co., Rotork, Moog Inc, Flowserve Corporation |
Analyst Review
The electric actuator market is highly competitive, owing to strong presence of the existing vendors. Electric actuator vendors, who have access to extensive technical and financial resources are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the global market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by the key vendors.
Electric actuator is widely used in various industries, which include water supply, wastewater treatment, fire protection and gas supply, chemical & oil industries, fuel handling systems, and power generation. Oil & gas industry is currently creating the highest demand for linear electric actuators. Moreover, increase in investment in the oil & gas industry is also expected to boost the demand for electric actuator in various processes in the developing economies such as China and India.
North America electric actuator market is more mature than any other geographical region due to heavy oil & gas activities and infrastructure projects. North America is the revenue-generating region in the electric actuator market due to the expansion in the oil & gas production. The active expansion of the unconventional oil & gas upstream activities such as Shale gas production and domestic & commercial construction has led to higher demand for actuators across North America. Natural gas is the most favored fuel in North America due to the availability, cheaper price, and lower emission. In addition, high demand for luxury vehicles in the form of SUVs and MUVs is the major factor that boosts the growth of the electric actuator market.
The key players operating in the market include Emerson Electric Co., Flowserve Corporation, Curtiss-Wright Corporation, ABB, Rotork, General Electric, AUMA Riester GmbH & Co. KG, Moog Inc, Ewellix, and Actuonix Motion Devices.
The Global Electric Actuator Market is expected to grow at a CAGR of 6.6% from 2019 to 2026.
The Global Electric Actuator Market is projected to reach $28.73 billion by 2026.
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The electric actuator market growth is majorly driven by increase in demand from oil and gas industry.
The key players profiled in the report include Emerson Electric Co., Flowserve Corporation, Curtiss-Wright Corporation, ABB, Rotork, General Electric, AUMA Riester GmbH & Co. KG, Moog Inc, Ewellix, and Actuonix Motion Devices.
On the basis of top growing big corporations, we select top 10 players.
The Electric Actuator Market is segmented on the basis of type, industry vertical, and region.
The key growth strategies of Electric Actuator market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Automotive segment is expected to dominate the market throughout the forecast period.
LAMEA region is expected to generate the lowest revenue during 2019 - 2026.
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