QY Research has recently published a new report, titled “Asia-Pacific Electric Linear Actuators Market Insights, Forecast to 2025,” which offers a detailed study of the electric linear actuators market. This report highlights crucial elements, which are expected to impact the growth of the market in the coming years. The report evaluates the key trends of the market and also examines the various macroeconomic factors such as gross domestic product (GDP) of various nations and the growing inflation rate, which is likely to affect the development of the market.
The research analysts expect the Asia Pacific electric linear actuators market to reach US$1402.44 mn by the end of 2025 from US$1012.05 mn in 2018. The market is expected to register a moderate CAGR of 4.77% throughout the forecast period.
Asia-Pacific Electric Linear Actuators Market: Drivers and Restraints
One of the key trends such as growing demand for smart actuators will drive the growth of the market in the near future. The demand for the Internet of Things (IoT) has been rising steadily because of the advent of IoT and industry 4.0. These actuators also integrate functionalities such as network switches, controllers, potentiometers, and rotary encoders. In addition, other functions such as system diagnostics, switching, and position feedback are also being embedded in smart actuators, which are expected to propel the growth of the Asia Pacific electric linear actuators market over the forecast period.
Moreover, the actuators are also being used in the applications such as assembly pressing, robotic spot welding, clamping and fixtures in the automotive industry, and robotic dispensing. The automotive players are gradually adopting electric linear actuators as they avert leakages and can be easily installed. Linear actuators are available at a low price and provide benefits such as integration with roller screws and high load capacity, which is creating a positive impact on the growth of the market.
However, the high cost of installation and maintenance of electric linear actuators is hampering the growth of the market.
Asia Pacific Electric Linear Actuators Market: Geographical Outlook
Asia Pacific will witness significant growth due to the development of cost-effective and advanced actuators, and growing demand for industrial automation in various verticals. Japan and China are mainly investing in automation to gain a tactical edge, which is expected to boost the market.
Asia-Pacific Electric Linear Actuators Market: Segment Analysis
Asia Pacific electric linear actuators market is segmented into applications and product type. The applications segment includes commercial, industrial, and medical. The product type segment includes AC electric linear actuators and DC electric linear actuators.
Asia-Pacific Electric Linear Actuators Market: Top Players
Auma, THK, Honeywell, IAI, Moteck Electric, Parker, Chiaphua Components, TiMOTION, SKF, LINAK, ABB, and other are the major players that are operating in the Asia Pacific electric linear actuators market.
Asia-Pacific Electric Linear Actuators Market: Competitive Landscape
Auma has expanded its global services and sales network by opening a new venture in Mexico City in October 2018. The main motive of the expansion of business is to provide a commitment to the customers with local service and support in this region. Companies are adopting the strategies for business expansion to gain a profit and also attain a higher revenue for their business to remain competitive in the market.