Global Non-Optical Actuators Market Size, Share, Opportunities,COVID-19 Impact, And Trends By Type (Linear Movement, Rotary Movement), By End-User Industries (Communication, Automotive, Manufacturing, Consumer Electronics), And By Geography - Forecasts From 2022 To 2027
- Published : Mar 2022
- Report Code : KSI061612494
- Pages : 115
The global non-optical actuators market is evaluated at US$5.998 billion for the year 2020 and is projected to grow at a CAGR of 4.52% to reach the market size of US$8.170 billion by the year 2027.
Actuators are electronic devices used to convert electrical signals into certain types of physical parameters such as motion, pressure, and heat. Actuators can transform the input of electrical signals into rotary and linear motion. Actuators are widely employed in the production and automotive industries. Automation systems mainly work with the support of certain types of actuators. The increasing adaption of automation systems in the automotive industry is boosting the market of non-optical actuators in the automotive industry. Automation and AI (Artificial Intelligence) systems are widely employed in the production and manufacturing industries. The more efficiency and less time consumption offered by automation systems increase the popularity of automation systems in different sectors. The ability of actuators to convert electrical signals into physical movements and specific physical parameters is increasing the applications of actuators in the automation field. Actuators are specific semiconductor devices that can be efficiently employed in a wide range of electronic devices and applications. The increasing penetration of electronics into various sectors and fields also gives potential to the market growth of non-optical actuators in the global market. The wide adaption and application of automation in the automotive industry are fuelling the market value of non-optical actuators in the automotive field. The increasing research and developments in electronics are also raising the demand for non-optical actuators in the global market.
The recent outbreak of the Covid pandemic has severely affected the market growth of the non-optical actuators market. The lockdowns and isolations imposed by the government resulted in the shut down of industries and production plants. The shutdown of the automobile, electronics, and production industries resulted in a declining global non-optical actuators market. The shut down of production plants involved in the production of non-optical actuators also resulted in the downfall of the global non-optical actuators market. The negative impact made by the COVID pandemic on automobile and electronic industries also decreased the market demand for non-optical actuators in the global market. The restrictions that occurred in the supply chain sector of non-optical actuators adversely affected the export and import rate of non-optical actuators in the global market.
Rising Trend of Automation Technology in Industries
The increasing trend of automation and AI (Artificial intelligence) technologies in the industry are boosting the market growth of the global non-optical actuators market. The automobile industry is one of the industries widely adopting automation technology in their respective field. Comb drive, Hydraulic cylinder, and pneumatic actuators are certain components seeking the support of non-optical actuators. The electric motors in the new hybrid cars and automobiles are also driving the market growth of the non-optical actuators in the market. Electric motors also seek the support of non-optical actuators in converting electrical signals to physical ones. The tech giants like Tesla in hybrid and electric car manufacturers are increasing the use and demand for non-optical actuators in modern cars and automobiles. According to the reports of CII (The Confederation of Indian Industries), the percentage of electric cars is expected to reach 12% of total cars in India. The introduction of fully electric cars by company giants like Tesla, BMW, and Porsche also fuels the demand for non-optical actuators in the global market. Using non-optical actuators in converting electric signals to physical movements makes the production process more convenient and effective in production sectors by reducing the number of workers engaged in work.
Increasing Penetration of Electronics
The rising penetration of electronics into the industrial and all commercial sectors is one of the factors pushing the market growth of non-optical actuators in the global market. The U.S Office of E-Government and Information Technology states that the electronic industry is mentioned as one of the industries that have shown tremendous growth and advancements in the last ten years. The investment of government and company giants is also pushing the growth of the electronic industry. The wide electronics applications are boosting the demand for non-optical actuators in the market. Actuators are considered as one of the major components that help in combining the mechanical industry with the electrical industry. Non-optical actuators' role in efficiently employing electronics in the mechanical field is increasing the application of non-optical actuators in different fields. The application of non-optical actuators in combining mechanical and electrical fields is also raising the market of non-optical actuators in the global market.
Global Non-Optical Actuators Market Scope:
|Market size value in 2020||US$5.998 billion|
|Market size value in 2027||US$8.170 billion|
|Growth Rate||CAGR of 4.52% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, End-User Industries, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Infineon Technologies AG, Texas Instruments Incorporated, Maxim Integrated, NXP Semiconductors, ST Microelectronics, Festo Group, Microchip Technology, Continental AG, Honeywell international, ON Semiconductors|
|Customization scope||Free report customization with purchase|
- By Type
- Linear Movement
- Rotary Movement
- By End-User Industries
- Consumer Electronics
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What will be the non-optical actuators market size by 2027?
A1. The global non-optical actuators market is projected to reach a market size of US$8.170 billion by 2027.
Q2. What is the size of the global non-optical actuators market?
A2. Non-Optical Actuators Market was valued at US$5.998 billion in 2020.
Q3. What are the growth prospects for the non-optical actuators market?
A3. The non-optical actuators market is projected to grow at a CAGR of 4.52% during the forecast period.
Q4. What factors are anticipated to drive the non-optical actuators market growth?
A4. The increasing adaption of automation systems in the automotive industry is boosting the non-optical actuators market in the automotive industry.
Q5. How is the global non-optical actuators market segmented?
A5. The global non-optical actuators market has been segmented by type, end-user industries, and geography.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Non-optical Actuators Market Analysis, by Type
5.2. Linear Movement
5.3. Rotary Movement
6. Global Non-optical Actuators Market Analysis, by End-user Industries
6.5. Consumer Electronics
7. Global Non-optical Actuators Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Infineon Technologies AG
9.2. Texas Instruments Incorporated
9.3. Maxim Integrated
9.4. NXP Semiconductors
9.5. ST Microelectronics
9.6. Festo Group
9.7. Microchip Technology
9.8. Continental AG
9.9. Honeywell international
9.10. ON Semiconductors
Infineon Technologies AG
Texas Instruments Incorporated
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