Dublin, Dec. 10, 2020 (GLOBE NEWSWIRE) -- The "Linear Actuators - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Key End-Use Industries Collapse Like a House of Cards Leaving the Linear Actuators Market Staring at $4Billion in Losses
The global market for Linear Actuators is expected witness revenues plummet by -14.2% in the year 2020 and thereafter recover and grow to reach US$37.2 billion by the year 2027, trailing a post COVID-19 CAGR of 6.3% over the analysis period 2020 through 2027.
Actuators are critical devices used as components in assemblies for almost all industries, including automotive, aerospace, agriculture, manufacturing, solar, medical, and robotics. 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 micro fluidic 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.
With applications spread out across myriad industrial sectors, the market is bearing the yoke of the disruptions caused by the pandemic. The automotive industry represents one of the major end-use markets for linear actuators. Global automobile production plunged in 2019, with sales dropping down by 5%. China registered a sharp decline in production and sales during the year.
Global automobile production is further expected to register a decline in 2020, as auto plants across the globe suspend production temporarily to curb the spread of COVID-19 and improve safety protocols to safeguard employees against the pandemic. The halt in production is expected to impact the cash flow for the automakers against the drop in demand. COVID-19 outbreak and stringent measures to contain the pandemic hold negative implications for the global automobile industry that is forecast to witness a dramatic decline of 20% in vehicle production in 2020 to 71 million units, indicating a loss of 19 million units. Suspended vehicle production in North America is coercing automakers to delay launch of new models.
New vehicle sales have also taken a major hit as battered consumer confidence and rising unemployment rates reduce consumer spending on big-ticket items like passenger cars. The complete annihilation of the logistics and transportation industry is also impacting sales of heaving vehicles and commercial vehicles. Also the worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and inter-dependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations have made the manufacturing sector most vulnerable amid the lockdown restrictions.
A revised outlook pegs the global market for machine tools at US$87.4 billion by 2027. An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low of 35.4 points in 2020 as compared to 53.8 in 2019.
In the post pandemic period, the manufacturing digital transformation catalyzed by the pandemic will provide a perfect platform for growth of linear actuators in the post covid-19 period, given the technology's important role in enabling automation. With various organizations going online launching digital initiatives, industrial participants are investing in automation and eying on expediting the shift towards Industry 4.0.
The COVID-19 has been a wake-up call for companies to make substantial and realistic plans to leverage emerging technologies and concepts like robotics, IIoT and smart factory for pushing productivity, reducing overall costs and gaining an edge over competitors. Industry 4.0-led automation is a savior for manufacturers, especially for companies operating in countries known for high labor costs. The concept paves way for highly dynamic processes through automated assemblies. Automation along with latest technologies such as AI and machine learning makes machines smarter and allows them to share data with other systems for achieving a self-optimizing and self-healing production line.
The scenario bodes well for smart linear actuators which in addition to performance benefits also help in reducing size of components, which in-turn reduces cost of software and hardware. Smart linear actuators will especially find robust applications in material handling equipment and conveyor systems.
Industry 4.0, to summarize, is a new generation industrial automation concept that emphasizes integration of plant-wide production operations with sensor-driven, high-tech machines, which will supplement and accelerate deployment of smart actuators with advanced features such as IoT-compatible units with AI and ML features, among others.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Linear Actuators, Why are they so Vital in Leading the 4th Industrial Revolution?
- Linear Actuators Remain the Driving Force for Robotics and Automated Machines
- Precision Capabilities: the USP of Linear Actuators
- Types of Linear Motors
- Applications of Linear Motors
- COVID-19 Outbreak: A Major Setback for the Global Economy & Markets
- Recent Market Activity
- Innovations
- World Brands
2. FOCUS ON SELECT PLAYERS
- ABB Group
- Cameron - Schlumberger
- Eaton Corporation PLC
- Emersion Electric Co.
- Festo AG & Co. KG
- Flowserve Corporation
- Honeywell International, Inc.
- Moog, Inc.
- Parker Hannifin Corporation
- Rotork PLC
- SMC Corporation
3. MARKET TRENDS & DRIVERS
- Automotive Industry, Accounting for Over 27.9% Share of Revenues Wields a Massive Blow to Demand
- Use of Actuators in Automobiles: A Review
- Use of Actuators in Automobile Production: A Review
- Slumping Manufacturing Industry Impacts Demand for Linear Actuators Used in Machine Tools
- Summarization of COVID-19 Impact on Manufacturing
- Among the Lessons Learnt from the Pandemic is the Importance of Automation. Re-Doubled Focus on Manufacturing Automation to Benefit Medium-to-Long-Term Growth
- What Does This Mean for the Linear Actuators Market?
- Linear Actuators in Mining and Oil & Gas Applications: A Current & Post Pandemic Outlook
- Valve Automation: The Key Goal of Linear Actuators in Mining and Oil & Gas Applications
- Electric Linear Actuators Eliminate Methane Emissions
- How COVID-19 is Changing the Outlook for the Year 2020
- Construction Industry Sustains Billions in Revenue Losses. Demand for Electric Linear Actuators in Construction Machinery Takes a Beating
- Smart Homes to Provide Robust Opportunities for Linear Actuators in Home Automation Systems
- Mechanization of Agriculture: A Big Opportunity for Linear Actuators
- At the Helm of Automation in Agriculture is a Key Component Technology - "Linear Actuators"
- Post Pandemic Focus on Strengthening Healthcare Systems to Benefit Use of Linear Actuators in Medical Equipment
- Use of Linear Actuators in UAVs & Aircraft to Increase in Sync with the Growing Commercial Opportunity for Drones & Expected Recovery in Aviation
- When Will the Aviation Industry Recover From COVID-19?
- New Innovations Vital to Bring Back Growth in the Post COVID-19 Period
- Pneumatic Linear Actuators Grow in Popularity. Here's Why
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- GEOGRAPHIC MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 44
For more information about this report visit https://www.researchandmarkets.com/r/d6tg8c
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