NEWARK, Del, March 22, 2023 (GLOBE NEWSWIRE) -- Global sales of electric linear actuators totaled a valuation of US$ 20.5 billion in 2022. Over the next ten years (2022 to 2032), the worldwide electric linear actuator market will expand at 5.3% CAGR. The global market size is likely to reach around US$ 34.3 billion.
DC electric linear actuators will continue to remain the top-selling category through 2032. As per Future Market Insights, the target segment will rise at 5.2% CAGR from 2022 to 2032.
Rising usage across industrial, commercial, and medical applications is driving the global market. Growing demand for automation and robots will elevate electric linear actuator demand.
Electric linear actuators are gaining wider popularity in robotics and factory automation. These actuators are being used in automotive, aerospace, agricultural machinery, and medical equipment.
Electric linear actuators are used because they offer the user better precision and more consistency. Rising penetration of automation in the manufacturing of automobiles is likely to boost sales through 2032.
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Today, more and more automotive manufacturers are using automation and robotics. Robots perform procedures such as spot welding, clamping and fixing, and assembly pressing.
High adoption of robotics in automotive industry will propel electric linear actuator demand. This is because they have become crucial components of robots.
The most common type of electric linear actuator used is the DC electric linear actuator. There is a wide variety of industries that make use of DC electric linear actuators. One of the leading industries that use DC linear actuators is the aerospace industry.
The aerospace industry makes use of DC electric linear actuators in aircraft systems such as landing gear, flaps, and slats to control the movement of the aircraft.
Hence, rising demand for automation in aerospace & automotive sectors will boost the market. Further, increasing usage of electric linear actuators in medical devices and agricultural equipment will bode well for the market.
Key Takeaways from the Electric Linear Actuator Market Report:
- Global electric linear actuator sales are set to soar at 5.3% CAGR over the next ten years.
- Based on type, DC electric linear actuators segment is forecast to expand at 5.2% CAGR.
- By application, industrial segment will rise at 5.1% CAGR between 2022 and 2032.
- The United States electric linear actuator market will exceed a valuation of US$ 5.4 billion by 2032.
- Demand for electric actuators in China is set to surge at 6.7% CAGR over the next decade.
- Japan electric linear actuator market size will reach US$ 5.3 billion by 2032.
- Sales of electric linear actuators in South Korea will rise at 5.7% CAGR through 2032.
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“High penetration of automation and robotics will boost electric linear actuator demand. Hence, key market players are expanding their portfolios to gain maximum profits.” Says a lead Future Market Insights analyst.
Who is Winning?
Parker Hannifin, SKF, Helix Linear Technologies, Linak, Tolomatic, Moteck Electric, Timotion Technology, Altra Industrial Motion Corp., Moog Inc, and Dewertokin are few leading manufacturers of electric linear actuators.
These companies are aiming at developing novel electric linear actuators for specific applications. They are also adopting mergers, partnerships, collaborations, and acquisitions to expand their presence and expertise.
Global Electric Linear Actuator Segmentation:
By Type:
- DC Electric Actuators
- AC Electric Actuators
By Application:
- Industrial
- Medical
- Commercial
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Table of Content
1. Executive Summary | Electric Linear Actuator Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
TOC to be continued ..
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