COVID-19 IMPACT SURVEY MAY 2020
The global market for Actuators is projected to reach US$70.5 billion by 2025, driven by its vital role in robotics. Motion in robotics is critical. Over 40% of assembly line robots place parts; 30% perform insertion tasks and 20% fasten screws and bolts. Technology innovations in the field of actuators are driven by demands placed on faster, smaller and powerful robotic functionalities. Although featuring large quantity of energy per unit, hydraulic drives and servo control of pneumatic actuators are complex and expensive. In response to the need, piezoelectric actuators are growing in popularity and securing attractive R&D investments. There is growing emphasis placed on developing smart actuators based on transducer materials with sensor and actor characteristics. Hydraulic, pneumatic and electrical actuators will find use in robotics for industry, agriculture, drones, medical and education.
Actuators are electromechanical or mechanical systems which control motion. They transform energy into motion. The resultant effect is used in many scientific and industrial applications such as nanopositioning in semiconductor production, valves, and microfluidic motors, among others. Actuators are used for applying specific force on entities for performing different mechanical operations. They are used in manufacturing and industrial applications, in devices such as motors, pumps, valves and switches among several others. The market for actuators is expected to register healthy growth, primarily led by increasing focus on the production of automated systems which need actuators. Demand is fueled by factors such as growth in the automotive industry, growing demand for aircraft, as well as technological advancements leading to better performing actuators. Rapid industrialization& urbanization; technological advancements; increasing automation of manufacturing plants; growing investment in renovations of existing infrastructure and also creation of new infrastructure, are also driving growth in the market.
Several industries are currently focusing on automatization of their operations for enabling greater efficiency, increased precision and enhanced safety in their production operations. Growing focus on remote monitoring is also anticipated to fuel market growth. In the coming years, demand for actuators would be strong in the oil and gas, marine and mining and aerospace and defense sectors as well. In the oil and gas end-use sector in particular, actuators would see widening applications in gas & liquid pipelines, gas storage, and LNG. Activities for exploration of new oil resources are increasing in number. The mining industry is another significant end-user of actuators. Mining activities are increasing in both onshore and deep seabed, owing to the invention of several new mining technologies, which would bode well for future market growth for actuation systems. Iron & steel, chemical, pulp & paper, waste water, and power industries are a few other major end-user industries for different types of actuators. Rising popularity of smart water management technologies will also provide significant opportunities for growth.