Thermal Actuator Market Size, Share, Growth, and Industry Analysis, By Type (Normally Closed Type, Normally Open Type), By Application (Home Use, Commercial, Industrial), Regional Insights, and Forecast To 2031

Updated On: 17 June 2024

Thermal Actuator Market Report Overview

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global thermal actuator market size was USD 214.6 million in 2022 and market is projected to touch 378.69 Million by 2031, exhibiting a CAGR of 6.5% during the forecast period.

A thermal actuator is a device that uses thermal energy to produce mechanical motion or force. It is commonly used in various engineering applications where precise control and movement are required. The principle behind a thermal actuator relies on the thermal expansion and contraction of materials.

Typically, a thermal actuator consists of a bimetallic strip or a shape memory alloy (SMA) wire. A bimetallic strip is composed of two different metals with different coefficients of thermal expansion bonded together. When the temperature changes, the metals expand or contract at different rates, causing the strip to bend or twist. This bending or twisting motion can be utilized to perform mechanical work or actuate a mechanism. A shape memory alloy is a special type of material that can return to its original shape after being deformed when subjected to a certain temperature change. These alloys exhibit a phenomenon called the shape memory effect. By applying heat or cooling to the shape memory alloy, it can undergo a reversible phase transformation and change its shape. This transformation can be harnessed to actuate a device or mechanism.

COVID-19 Impact: Pandemic hampered the Demand for Market

The pandemic has caused disruptions in global supply chains due to lockdowns, travel restrictions, and factory closures. This has led to delays in the production and delivery of thermal actuators, impacting the market's overall supply and availability. The economic downturn caused by the pandemic has resulted in reduced demand for various goods and services. Many industries, including automotive and manufacturing sectors, have experienced a decline in activity, leading to a decrease in the demand for market. Due to the uncertain economic environment and business closures, many construction projects and infrastructure developments have been delayed or put on hold. These projects often require the installation of these actuators for HVAC systems, but the delays have affected the demand for these components.

 Latest Trends

"Integration of Smart Technologies"" ""to Fuel Market Growth"

The integration of smart technologies, such as the Internet of Things (IoT) and automation, is playing a significant role in shaping the thermal actuator market. These technologies allow for remote control, monitoring, and optimization of these actuator systems, enhancing their efficiency and performance. Actuators find extensive use in the automotive industry for applications such as engine control, exhaust systems, HVAC systems, and active suspension systems. The increasing demand for advanced safety features, comfort, and energy efficiency in vehicles is driving the growth of the market. With a growing emphasis on energy efficiency and sustainability, there is a rising demand for these actuators that consume less power and offer high energy efficiency. Manufacturers are focusing on developing advanced materials and designs to minimize energy consumption and reduce environmental impact.

Thermal Actuator Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into normally closed type, normally open type.

• By Application Analysis

Based on application, the market can be divided into home use, commercial, industrial.

Driving Factors

"Technological advancements to Stimulate Market Growth"

Advances in materials science and manufacturing processes have led to the development of more efficient and reliable thermal actuators. New materials with improved thermal properties, such as shape memory alloys and polymers, have enhanced the performance and responsiveness of actuators, driving their adoption in various applications. These actuators are widely used in automotive applications, such as engine control, exhaust systems, and fuel injection.

"Ongoing R&D Activities to Fuel Market Growth  "

 With the ongoing development of electric and hybrid vehicles, the demand for actuators in the automotive sector is expected to grow significantly. The increasing trend of smart homes and building automation systems has created a demand for advanced control systems, including actuators. These actuators are used in smart thermostats, underfloor heating systems, and zone control systems, allowing for efficient temperature regulation and energy management. All these factors are accelerating thermal actuator market growth.

Restraining Factors

"Limited Power Output to Restrict Market Growth "

Thermal actuators generally have lower power output compared to other types of actuators such as hydraulic or electric actuators. This limitation can restrict their use in applications that require high force or fast response times. Actuators rely on temperature changes to generate mechanical motion. However, they are limited by the temperature range they can operate in. Extreme temperatures, either high or low, can affect their performance and reliability. The time required for the actuator to reach its desired position can be a limitation in applications that demand rapid and precise actuation.

Thermal Actuator Market Regional Insights

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"Rapid Industrialization"" ""in Asia Pacific region"" ""to Drive Market Expansion"" "

Asia Pacific region holds the leading position in thermal actuator market share. Particularly China, South Korea, and Japan have a strong presence in the consumer electronics, automotive, and industrial sectors, which are major consumers of these actuators. China, in particular, has a robust manufacturing industry and is the largest consumer of actuators globally. The country's rapid industrialization and urbanization have led to increased demand for HVAC systems, smart home devices, and automotive applications, which rely on these actuators for temperature control and regulation.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are Danfoss, Honeywell, MENRED, Uponor, Caleffi, Schneider Electric, Giacomini, SAUTER, Watts, IMI Hydronic Engineering, Hailin, CONTROLLI, Heatmiser, EPH Controls, SALUS Controls, SASWELL, Beok, Grenton. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• Danfoss
• Honeywell
• MENRED
• Uponor
• Caleffi
• Schneider Electric
• Giacomini
• SAUTER
• Watts
• IMI Hydronic Engineering
• Hailin
• CONTROLLI
• Heatmiser
• EPH Controls
• SALUS Controls
• SASWELL
• Beok
• Grenton

Report Coverage

This report examines an understanding of the Thermal actuator market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.