Rotary Actuators Market Share, Trends, Revenue, Growth Drivers, Demand, Challenges, Opportunities and Future Competition Till 2033


Rotary Actuators Market Share, Trends, Revenue, Growth Drivers, Demand, Challenges, Opportunities and Future Competition Till 2033: SPER Market Research

 Published: Sep-2023
 Author: SPER Analyst

Global Rotary Actuators Market is projected to be worth USD 140.82 billion by 2033 and is anticipated to surge at a CAGR of 8.44%.

A rotary actuator is a pneumatic cylinder that allows a stroke to oscillate through a specific angle while twisting or angling. They provide a strong force (torque) for their size and are long-lasting. Rotary actuators can make a design simpler and help with maintenance problems. Numerous end-user sectors, including semiconductors, oil and gas, packaging, and aerospace & defense, frequently use rotary actuators. Gas turbines in the oil and gas sector employ rotary actuators to activate minimal operating and maintenance costs.

Global Rotary Actuators Market Driving Factors and Challenges
One of the main factors driving the expansion of the rotary actuators market is the rise of industrial automation. In continuous production processes, for instance, where the continuous process is monitored and managed by actuators, process automation helps turn raw materials into finished products. Manufacturers are incorporating actuation devices into their production lines in the meanwhile to boost productivity. Importantly, rotary actuators are widely utilized in many end-user industries, including semiconductors, oil and gas, packaging, aircraft, and defense.

One of the factors preventing the market for rotary actuators from expanding is the volatility of raw material prices. Copper, stainless steel, and other metal alloys are the main raw materials utilized to make actuators. However, the price volatility of these raw resources may prevent the market from expanding. The vendors' productivity may be impacted by changes in the price of raw materials. Due to the market's intense competition, vendors are unable to pass along the increased costs to customers, which lowers their profit margins. Because of this, raw material price volatility is a significant pricing issue and could restrain the development of the market for rotary actuators during the projection period.

Impact of COVID-19 on Global Rotary Actuators Market

The COVID-19 epidemic has hampered global supply networks and business processes. While the pandemic had no effect on 2019 valve actuator demand, market predictions take into account industry trends and how the COVID-19 pandemic may affect the valve actuators market in several vertical industries. The current COVID-19 pandemic outbreak has had a negative impact on most industries that use actuators, including agriculture, healthcare, automotive, aerospace and defense, and food and drinks.

Global Rotary Actuators Market Key Players:

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ABB LTD, Emerson Electric Co., Flowserve Corporation, LINAK AS, Rotork plc, SMC Corporation, Curtiss-Wright Corporation, General Electric Co, Moog Inc.

Global Rotary Actuators Market Segmentation:

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.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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