North America Linear Actuators Market: Snapshot
The North America market for linear actuators is chiefly driven by the rising adoption of automation across a number of industries, an increased focus on wastewater management, and the flourishing aerospace and defense industry. An exponential rise in shale gas exploration activities in the region is also expected to levy a significant positive impact on the market’s overall development in the next few years.
Transparency Market Research estimates that the market will exhibit a promising more than 7% CAGR over the period between 2019 and 2027. At this rate, the market is projected to reach a valuation of above US$ 5 billion by 2027.
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Electric Actuators to Remain Most Promising Product Variety
Of the key varieties of linear actuators available in the North America market, the report examines hydraulic, pneumatic, electric, and mechanical linear actuators. Of these, the segment of electric linear actuators emerged as the most attractive segment, accounting for a more than 25% of the market in 2018. The rising adoption across industrial automation practices, better flexibility options, and the lower cost of ownership are some of the key factors that helped boost the consumption of electric linear actuators in the North America market. In the near future, the demand for actuators with high power efficiency and low weight will drive the demand for electric actuators.
The demand for electric actuators has also considerably increased in the region owing to the several limitations of mechanical actuators. The rate of replacement of mechanical actuators has considerably increased in the past few years, stimulating the uptake of electric actuators in the region. Electric actuators are expected to account for a nearly 25% of the overall market by 2027. The manual and hybrid varieties of linear actuators are also expected to witness promising growth over the said period.
Linear Actuators Market in Mexico to Exhibit Strong Growth
From a geographical perspective, the North America linear actuators market is examined for the U.S., Canada, and Mexico. Of these, the U.S. accounted for significant market’s overall revenue in 2018 and is expected to retain its top spot through 2027 as well. The high rate of adoption of industrial automation, the rising demand for wastewater management, and the boom in the shale gas and food and beverages industries have been boosting the application of linear actuators in the U.S. market. These factors will continue to drive the increased demand for linear actuators in the U.S., keeping the country at the top spot in the North America market.
However, the market in Mexico will exhibit the most promising growth over the forecast period, registering a more than 8% CAGR. The rapid growth across the construction and manufacturing sectors witnessed over the past few years is expected to remain one of the key factors responsible for the robust development of the linear actuators market in the country in the near future. Furthermore, rising government investment aimed at improving power supply infrastructure, airports, and pipelines is also expected to boost the demand for linear actuators in Mexico over the forecast period.
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North America Linear Actuators Market: Competitive Dynamics
The competitive landscape of the North America linear actuators market is highly fragmented, with none of the top five players accounting for a share of over 5% in the overall market in 2018.
Some of the leading players in the market are
- Tsubakimoto Chain, Co.
- Joyce Dayton Corporation
- MOOG, Inc.
- PHD, Inc.
- General Electric, Co.
- NOOK Industries, Inc.
- Altra Industrial Motion
- Parker Hannifin Corporation
- Festo Group
- Tolomatic, Inc.
- Rockwell Automation
- IAI America, Inc.
- Fortive Corporation
- RACO International, L.P.
- Curtiss-Wright Corporation.
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