Global Electric Linear Actuator Market
Global Electric Linear Actuator Market By Application, By Type, By Geographic Scope And Forecast
According to Verified Market Research, the Global Electric Linear Actuator Market was valued at USD 16.13 Billion in 2018 and is expected to witness a growth of 6.41% from 2019-2026 and reach USD 26.26 Billion by 2026.
Electric linear actuators are defined as a device that transforms the rotational motion of an electric motor into linear motion. These are electrically powered, mechanical linear actuators consisting of motors, linear guides, and drive mechanisms and responsible for providing straight line push/pull motion. Key specifications contain the intended application, drive type, motor type, the mounting configuration, as well as other physical dimensions and electrical characteristics. Replacement of electric linear actuators with other types of actuators such as hydraulic and pneumatic means a smaller & simpler installation, easier control, lower energy costs, high accuracy, less maintenance, less noise, and a cleaner, healthier environment.
As the global automotive industry continues to grow, the demand for automated production is also expanding to control quality and production costs. As a result of this increased automation, many automotive manufacturers employ electric linear actuators in different automotive manufacturing processes. These actuators are used in various vehicle assembly processes including pressing, elevation, conveying cutting, bending, stamping, and lifting. Apart from this, other application includes opening and closing of vehicle doors, robotic spot welding, assembly pressing, robotic dispensing, and clamping and fixtures in the automotive industry. These actuators provide high accuracy, high speed, and high reliability. This is potentially driving the market growth rate for the electric linear actuators in the global market.
Electric linear actuators are used in various applications such as automotive, medical, industrial equipment, material handling, agricultural machinery, etc. These actuators are responsible to deliver speed, control, and precision. However, it is considered to come with a higher initial cost and a more complex design as compared to fluid power cylinders (either pneumatic or hydraulic). The initial price of various components of electric linear actuators is high. Such factors are expected to hinder the market growth rate of the Global Electric Linear Actuator Market over the forecast period.
The “Electric Linear Actuator Market” study report offers a valuable insight with an emphasis on global market including some of the major players such as Parker Hannifin, LINAK, SKF, TiMOTION, DewertOkin, etc. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook