Damper Actuators Market Size, Share, Growth, and Industry Growth, By Type (Spring and Non-Spring Damper Actuators), By Application (Industrial Facilities, Commercial Buildings, Public Utilities, Industrial Facilities, and Others), Regional Forecast, 2032

DAMPER ACTUATORS MARKET REPORT OVERVIEW 

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global Damper Actuators market size was USD 1406 million in 2021 and market is projected to touch USD 1539.88 million in 2032, exhibiting a CAGR of 2.3% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with damper actuators experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to exhibit a CAGR of 2.3% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

A device that controls the opening and closing of an HVAC damper, ventilation, heating, and air conditioning system is known as damper actuators. Because of the standardization of building design and governmental approval processes, these actuators are widely used in several non-residential applications. Because several nations have established regulations for both commercial and non-commercial structures, these machines are employed in various non-commercial and commercial locations. Parallel to this, industrial structures are becoming widely distributed in terms of construction standards throughout many nations.

The motor-operated actuators are known as damper actuators. It is used in motor switches, overload switches, speed reduction, opening transmitters, and manual handling when the mechanism is combined. This machine is widely used in various non-residential applications for government approvals coupled with standardization of building designs. This device is used for controlling the closing and opening of a damper in a heating ventilation or HVAC. 

COVID-19 Impact: Imposed Restrictions On Supply Chain Impeded Growth During Pandemic

Damper actuators demand declined in 2020 due to low demand from various regions brought on by the government-imposed lockdown in numerous nations. Production of machinery and equipment for end users has been suspended due to the COVID-19 pandemic, mostly due to protracted lockdowns in important international countries. This has considerably slowed the market for damper actuators during the epidemic. Before the coronavirus outbreak, the UK, China, the U.S., Germany, Italy, and other large manufacturing nations saw high demand for the equipment, but this demand was subsequently slashed. By the end of 2022, the manufacturing sector resumed operating at full capacity, which would likely aid in the recovery of the damper actuators market.

LATEST TRENDS

"Rising Construction Activities to Drive Trends in the Market"

A rise in the need for heating and cooling equipment across a number of industries as a result of increased commercial development activity is expected to drive up demand for damper actuators. For instance, from 2016 to 2022, the commercial building sector in India is predicted to rise. All of these occurrences are projected to support the market expansion for the market. Also, the demand for damper actuators for such equipment is driven by the increase in population and per capita income, boosting demand for appliances such as AC and heaters.

DAMPER ACTUATORS MARKET SEGMENTATION 

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• By Type Analysis

By type, the market is segmented into spring return damper and non-spring damper actuators.

• By Application Analysis

Based on application, the market is classified into industrial facilities, commercial buildings, public utilities, industrial facilities, and others.

DRIVING FACTORS

"Growing Penetration of Damper Actuators to Propel Machine Demand"

One of the key factors fueling the expansion of the damper actuators market is the rapid adoption of HVAC systems in building automation systems (BASs). Also, thanks to improvements in wireless sensor network technologies and wireless protocols, the adoption of BASs is rising significantly. Also, the increased demand for BAS implementation in office buildings and sizable shopping centers to boost management systems' productivity fuels the market's expansion on a global scale. One of the most complicated systems in industries is the HVAC system. The current HVAC systems include a variety of devices, including sensors and actuators that track and regulate factors like temperature, airflow, and others. These factors boost the damper actuators market growth.

"Cost Efficiency of the Machine to Augment Market Growth"

One of the biggest costs for managing home and commercial buildings is air conditioning. End users are turning to cloud computing in HVAC to manage these costs and guarantee the HVAC's effective operation. Many HVAC companies are turning to cloud computing because of its flexibility, scalability, and improved collaboration. This promotes the market's need for damper actuators and inadvertently raises demand for improved HVAC systems. These electronics provide the HVAC system with remarkable efficiency. In addition, several businesses are concentrating on the advancement of cloud computing in HVAC in order to maintain and grow their clientele globally.

RESTRAINING FACTORS

"Lack of Awareness to Hamper Market Expansion"

The lack of awareness associated with the equipment is forecasted to impede the damper actuators market growth. Uncertainty in macroeconomic conditions is also likely to contribute to hampering the growth of the market. 

DAMPER ACTUATORS MARKET REGIONAL INSIGHTS 

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"Asia Pacific to Dominate Market Due to the Growing Technological Advancements"

Asia Pacific is estimated to hold a leading part of the damper actuators market share owing to the rising technological advancements. Government initiatives and regulations to adopt energy efficient machines to contribute to regional growth.

Europe is predicted to show significant growth due to the growing need for emerging regions. The rising demand for IoT (Internet of Things) in the market growth. 

KEY INDUSTRY PLAYERS

"Key Companies to Emphasis On the Development of Advanced Technology"

Key market players are investing heavily on research and development of the product. Companies are also paying focus on launching advanced products. Emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their market share in the global market. 

LIST OF TOP DAMPER ACTUATORS COMPANIES

• Belimo (Switzerland)
• Johnson Controls (Ireland)
• Siemens (Germany)
• Honeywell (U.S.)
• Rotork (U.K.)
• Schneider (France)
• Azbil Corporation (Japan)
• Neptronic (Canada)
• KMC Controls (U.S.)
• Dura Control (India)
• Dwyer Instruments (U.S.)
• Hansen Corporation (U.S.)
• Kinetrol (U.K.)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2032, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.