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Market Overview of Global Rack & Pinion Pneumatic Actuator market:
According to our latest research, the global Rack & Pinion Pneumatic Actuator market looks promising in the next 5 years. As of 2022, the global Rack & Pinion Pneumatic Actuator market was estimated at USD 743.11 million, and it's anticipated to reach USD 930.82 million in 2028, with a CAGR of 3.83% during the forecast years.
Rack & pinion pneumatic actuators are rotary actuators, used for automation of quarter turn valves such as ball or butterfly valves. These actuators are also known as limited rotation cylinders. These actuators convert energy of compressed air to an oscillating rotary motion. The clean, dry & processed gas required by the actuator is provided by a central compressed air station, which generally supports a range of pneumatic devices in a process system. Key characteristics of rack & pinion pneumatic actuators include durability, less expensive and better suited for hazardous environments, provide higher torque in comparison to their size and require less maintenance.
For valve automation, a common actuator design uses two piston-type racks moving in opposite directions to ensure balanced forces on the pinion. Typically, pneumatic air pressure is used to power the actuator. By applying pressure to the piston racks, the pinion can be turned to the desired position. The pinion bottom connects to the valve stem to open and close the valve as the pinion turns.
The industrial chain is affected
The COVID-19 outbreak has disrupted business and economic activities globally. It is expected to have a short-term impact on the rack & pinion pneumatic actuator market to a certain extent. With several countries across the globe announcing nationwide lockdowns and temporary closures of various industries, production and manufacturing have been severely affected. Stopping production not only aggravates the shortage of funds for small and medium-sized enterprises, but also reduces the solvency of enterprises, which may affect production and sales. Some enterprises have difficulties in operation and even go bankrupt. The epidemic situation has seriously affected the logistics and transportation, and the transportation of raw materials is difficult. The industrial chain of small and medium-sized enterprises is imperfect and fragile. Trade barriers have further impacted the demand-supply gap. Companies operating in the rack & pinion pneumatic actuator market have suspended non-essential visits/activities until the COVID-19 outbreak is resolved.
The production cost of enterprises increases
With the gradual control of the epidemic, some factories began to resume operation. However, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.
High For Cost Installation
High installation cost for low volume production and power consumption or noise & leak issues may impact the market.
The high cost of rack & pinion pneumatic actuator is a major factor restraining market growth, especially in developing countries. rack & pinion pneumatic actuators are high-cost equipment, and the procedures involving the use of such equipment are generally expensive.
There is a high cost involved in the initial setup and installation of rack & pinion pneumatic actuator along with the repair and service costs. Limited financial support to the organizations is a factor that poses a great challenge to the growth of this market.
Strict quality supervision
Rack & pinion pneumatic actuators are applied to valves in various industries. Due to the different working environments in the production workshops of various industries, the production requirements for valves are also different. It is often necessary to customize the corresponding actuators according to customer requirements, so the production quality of the products has relatively high requirements.
To produce compliant pneumatic rack & pinion pneumatic actuators, manufacturers must obtain certifications from multiple international regulatory agencies, such as ATEX, EAC TR CU 010/2011, ISO 5211, EN 15714-3-4D, etc.
Product Prices Tend To Fall
Nowadays, manufacturers are replacing manual gears with actuators as pneumatic actuators which can be handled automatically without being physically present at the pipelines and also efficiency, reliability and faster work of pneumatic actuators over manual gears are boosting the use of pneumatic actuators market. Moreover, low cost of pneumatic actuators as compared to hydraulic actuators and every manufacturer are looks for an option to save cost. Also, prices of pneumatic actuators form a matured technology and their prices may likely to go down in future.
Region Overview:
From 2022-2027, North America is estimated to witness robust growth prospects.
Company Overview:
Flowserve is one of the major players operating in the Rack & Pinion Pneumatic Actuator market, holding a share of 17.58% in 2020.
Flowserve
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment throughout the world. The Company provides pumps, valves, and mechanical seals primarily for the refinery and pipeline segments of the petroleum, chemical processing, power generation, and water treatment industries.
Rotork
Rotork plc is a holding company. The Group provides actuation solutions through the design, manufacture and support of actuators, systems and related products to the valve industry. The main business operations are: Process Control, Electric, Fluid Systems and Gears.
Segmentation Overview:
Among different product types, Double-Acting segment is anticipated to contribute the largest market share in 2027.
Application Overview:
By application, the Chemical segment occupied the biggest share from 2017 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Rack & Pinion Pneumatic Actuator market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Rack & Pinion Pneumatic Actuator Market Report:
Market Size Estimates: Rack & Pinion Pneumatic Actuator market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Rack & Pinion Pneumatic Actuator market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Rack & Pinion Pneumatic Actuator market
Segment Market Analysis: Rack & Pinion Pneumatic Actuator market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Rack & Pinion Pneumatic Actuator market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Rack & Pinion Pneumatic Actuator Market: Revenue and sales volume of major countries in each region
Rack & Pinion Pneumatic Actuator Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Rack & Pinion Pneumatic Actuator market in major regions.
Rack & Pinion Pneumatic Actuator Industry Value Chain: Rack & Pinion Pneumatic Actuator market raw materials & suppliers, manufacturing process, distributors, downstream customers
Rack & Pinion Pneumatic Actuator Industry News, Policies & Regulations
Key players in the global Rack & Pinion Pneumatic Actuator market are covered in Chapter 12:
DynaQuip
KOSAPLUS
Burkert
Air Torque
Aira Euro Automation
VALBIA
St. Hans
Sirca International
Nihon KOSO
Haitima
Flowserve
Juhang
Crane
Rotork
Bray
BAR GmbH
Rotex
Emerson
In Chapter 2 and Chapter 15.1, based on types, the Rack & Pinion Pneumatic Actuator market from 2018 to 2028 is primarily split into:
Double-Acting
Single- Acting
In Chapter 3 and Chapter 15.2, based on applications, the Rack & Pinion Pneumatic Actuator market from 2018 to 2028 covers:
Chemical
Pharmaceuticals
Oil and Gas
Other
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Rack & Pinion Pneumatic Actuator market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028