Azoth Analytics has released a research report titled “Global Safety Actuators Market (2023 Edition)” which provides a complete analysis of the global safety actuators market in terms of market segmentation by Type (Linear, Rotary), Actuation (Electric, Hydraulic, Pneumatic), End-User Industry (Consumer Electronics, Manufacturing Plants, Automotive, Aerospace & Defense, Medical, Others) at the global, regional and country-level for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.
The research report covers a detailed analysis of the regions (Americas, Europe, APAC, Middle East and Africa) and 10 countries (United States, Canada, Brazil, United Kingdom, Germany, France, China, India, Japan, Australia). Additionally, the research report presents data including market size, yearly growth and potential analysis, the competitive study of market players, investment opportunities and demand forecast. The research study also assesses growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market’s evolution.
During the forecast period, 2024-2029, the Global Safety Actuators Market is expected to expand at a CAGR of 8.3%. Integration of the Internet of Things and Industry 4.0 are driving the Global Safety Actuators Market. The Global Safety Actuators Market is expected to generate USD 1481.61 million by the end of 2029, up from USD 857.06 million in 2022. Increases in manufacturing plants, and the automotive sector, have emerged as key drivers for the global Safety Actuators market.
The rising awareness among industries about the importance of industrial safety, coupled with stringent safety rules and regulations, is driving the adoption of safety actuators in factories. These actuators offer various features such as fail-safe operation, emergency shutdown capabilities, and rapid response times, providing an added layer of protection for workers and equipment. Moreover, advancements in technology have also led to the development of innovative safety actuators that offer enhanced functionality and connectivity. For instance, some safety actuators can be integrated with intelligent control systems, allowing real-time monitoring and remote operation. This not only improves safety but also enhances operational efficiency in the industrial operations.
Robotics and Process Automation is an emerging technology automating business processes that combines software, artificial intelligence and machine learning capabilities and algorithms to imitate the activity of human workers and automate manual tasks within workflow and process-related applications and operations. Process Automation is used and still adopted by many companies to perform their daily repeated tasks by creating algorithms. The demand for improved performance robotics and automation safety actuators for use in various industries facilitates the development of new and advanced actuators such as electric actuators, compact pneumatic actuators, and explosion-proof actuators. As technology evolves, robots are getting increasingly energy-efficient and easy to deploy across various industries.
Scope of the Report:
- The report analyses the Global Safety Actuators Market by Value (USD Million).
- The report presents the analysis of the Global Safety Actuators Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
- The report analyses the Global Safety Actuators Market by Type (Linear and Rotary).
- The report analyses the Luxury Goods Market by Actuation (Hydraulic, Pneumatic, Electric).
- The report analyses the Luxury Goods Market by End-use Industries (Consumer Electronics, Manufacturing Plant, Automotive, Aerospace and Defense, Medical and Others).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Type, and by Actuation.
- Also, the major opportunities, trends, drivers and challenges of the industry have been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Siemens AG, Emerson Electric Co., Mitsubishi Electric, ABB Ltd., Sick AG, Rotork plc, Festo AG & Co. KG, General Electric Company, Bimba and MOOG.