LONDON--(BUSINESS WIRE)--The electric actuators market is expected to grow by USD 843.86 million during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the electric actuators market in optimistic, probable, and pessimistic forecast scenarios.
The electric actuators market will witness Negative and Inferior impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Increase as compared to 2019.
Enterprises will go through Respond, Recover and Renew phases. Download free report sample
As the COVID-19 pandemic continues to spread, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Electric Actuators Market Participants:
Rotork Plc operates its business under various segments such as controls, fluid systems, gears, and instruments. It includes products such as IQ3 Range, CK Range, CVA Range, CMA Range, AWT, and ROMpak.
Siemens AG operates its business under seven segments, which include digital industries, smart infrastructure, gas and power, mobility, siemens healthineers, siemens Gamesa renewable energy, and financial services. The company’s key offerings include Zone Valves and Valve Actuators; Globe Valves and Valve Actuators; and Flowrite 599 Series Globe Valves and Actuators
SMC Corp. has business operations under automatic control equipment business and others segments. Some of the products offered by the company are rod type, slider type, high rigidity slider type, low profile slider type, and guide rod type
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/ electric actuators market-industry-analysis
Electric Actuators Market 2020-2024: Segmentation
Electric Actuators is segmented as below:
- Third-party Suppliers automotive industry
- Water and wastewater industry
- Marine industry
- Aerospace and defense industry
- Linear actuators
- Rotary actuators
- North America
- South America
The electric actuators market is driven by growing demand for commercial and defense aircraft. In addition, other factors such as increased benefits of the electric actuator over hydraulic or pneumatic actuators are expected to trigger electric actuators market toward witnessing a CAGR of almost 6% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.