Global Pneumatic Actuator Market 2017-2021
About Pneumatic Actuator
Actuators are devices that use a power source to operate a valve. They are used to automate industrial valves in industries such as power generation, oil and gas, mining, chemical and petrochemical, automotive, semiconductor, and food and beverage. While manually operated actuators require manual adjustment, power operated actuators can be operated and adjusted by using electric current, gas, or hydraulic pressure. With the help of power operated actuators, valves can be used in areas where human intervention can be unsafe.
Technavio’s analysts forecast the global pneumatic actuator market to grow at a CAGR of 4.04% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global pneumatic actuator market for 2017-2021. To calculate the market size, the report considers the new installations sales/value and installation services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pneumatic Actuator Market 2017-2021
Technavio recognizes the following companies as the key players in the global pneumatic actuator market: Emerson Electric, Flowserve, Parker Hannifin, Rotork, and SMC
Other Prominent Vendors in the market are: ATI, Cameron, Crane, Eaton, Festo, General Electric, Honeywell, Moog Flo-Tork, and NUTORK.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Adoption of IoT-enabled actuators for predictive maintenance. The need for data collection and analysis is driving the demand for IoT-enabled actuators. Vendors are moving toward predictive maintenance to improve accuracy and reduce production downtime. This is particularly useful in industries that use large motors in their operations. In industries such as oil and gas, mining, and pulp and paper, IoT actuators can be very useful as even a small downtime in such industries can lead to high costs. These actuators make it easy to monitor actuator variables such as cylinder speed, travel, temperature, and pressure. With the help of modern sensors that provide high accuracy and are available at low cost, the integration of IoT and pneumatic actuators has been made easy. Together with smart monitors, these actuators can communicate independently, so that they do not interfere with the main process line.”
According to the report, one of the major drivers for this market is Increased momentum of automation projects in power, chemical, and oil and gas industries. The need for high accuracy and cost optimization is driving the demand for process automation, which is leading to an increment in the demand for control valves. Control valves require pneumatic actuators in power, chemical, and oil and gas end-user industries for operational control. The demand for control valves is increasing in the oil and gas upstream and downstream sectors, owing to increasing investments in fluid control systems. Increase in power demand in Asian economies such as China and India is propelling the sale of control valves in the power generation industry. With the increase in demand for control valves across these process industries, the global pneumatic actuator market will also witness a growth during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Requirement of air-producing equipment. Pneumatic actuators make use of compressed air for performing the required operations. Before entering the actuator, the compressed air must be clean and dry. To achieve this, pneumatic systems require equipment such as compressors, air filters, lube tubes, dryers, and regulators, which result in additional cost. This also requires additional space to incorporate extra systems that have limited growth in end-user industries prone to space limitation. Manual changeover of pneumatic actuators is expensive as the production must be halted to perform repair work, which results in the loss of production.
Emerson Electric, Flowserve, Parker Hannifin, Rotork, SMC, ATI, Cameron, Crane, Eaton, Festo, General Electric, Honeywell, Moog Flo-Tork, and NUTORK.