Actuators Market Overviews
The Actuators Market size was valued at US$ 46.86 Bn. in 2023. The global Actuators Market is estimated to grow at a CAGR of 9.81 % over the forecast period.
An actuator is a component of a device or machine that converts energy (usually electrical, air, or hydraulic) into mechanical force to allow it to perform physical movements. Simply put, it is the part of a machine that allows it to move. The equipment is often powered by hydraulic and pneumatic forces and can be controlled manually, electronically, or via software. Actuators move in two directions, such as linear and rotational. The linear motion transforms energy to position other equipment and perform push and pull functions. Rotary motion, on the other hand, allows various ball and butterfly valves to move. Electric motors, solenoids, hard drive stepper motors, and comb drivers are the most popular types of actuators, and they have a wide range of applications in industries such as oil and gas, power generation, chemicals, food and beverage, metals and mining, automotive, and aerospace. Actuators Market report by Stellar Market research is detailed analysed using the segment analysis on the basis of motion, type, end-use industry and region.
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Actuators Market Scope and Methodology:
The healthcare industry is developing and manufacturing new machines, which require actuators. Actuators are utilized in medical devices like wheelchairs, medical beds, patient lifts, treatment chairs, dental chairs, and CT, MRI, and PT scanning equipment. The growth of healthcare facilities and the rise in the senior population are driving the healthcare actuators market across the globe. In countries such as the United States, India, and China, the number of hospitals is continuously growing. Cancer has recently become one of the world’s worst diseases. Breast cancer (2.26 million cases) and lung cancer (1.4 million cases) were the most common cancers among new cases in 2020. In addition, the COVID-19 pandemic’s outbreak in early 2020 resulted in a massive influx of patients into hospitals all across the globe. As actuators are widely utilized for numerous reasons in healthcare, these aspects have a favorable impact on the actuators market.
Actuators Market Regional Insights
The Asia Pacific region has dominated the market with a 47.9 % share in 2023. The actuators market is continuously showing northward direction growth, thanks to the growing adoption of the product in China, India, South Korea, Japan, Taiwan, and the rest of the Asia Pacific region Industry in the Asia Pacific is continually upgrading its capabilities, necessitating machinery with new and novel actuators. In order to gain a tactical advantage in the field of robotics and process automation, China and Japan are investing extensively in robotics and automation. In addition, in growing economies like India and China, the Internet of Things (IoT) has gotten a lot of attention. This includes the creation of smart cities and IoT-specific centers of excellence, all of which are expected to drive demand for actuators at the same time.
Actuators Market Segmentation
By Motion, the Actuators Market is segmented into Linear and Rotary. The Linear segment dominated the market with a 63.88% share in 2023. The segment growth is attributed to the growing use of linear motion actuators in packing machines, medical equipment, production machinery, transportation, and aerospace and defense industries across the globe. The growing demand for fuel-efficient vehicles, stringent environmental regulations, rising automation in emerging economies, and the growing need to improve combustion control, increase reliability, and reduce production costs in manufacturing sectors are some of the major factors driving the actuator market growth for linear actuators.
Actuators Market Key Players
ABB (Switzerland)
Rockwell Automation (US)
Altra Industrial Motion (US)
Moog (US)
SMC (Japan)
Curtis Wright (Exlar) (US)
MISUMI (Japan)
ZF Friedrichshafen AG (Germany)
HELLA KGaA (Germany)
Continental AG (Germany)
Denso Corporation (Japan)
Delphi Automotive plc (Ireland)
Magna International (Canada)
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Key questions answered in the Actuators Market are:
- What is Actuators ?
- What was the Actuators market size in 2023?
- What is the growth rate of the Actuators Market?
- Which are the factors expected to drive the Actuators market growth?
- What are the different segments of the Actuators Market?
- What growth strategies are the players considering to increase their presence in Actuators ?
- What are the upcoming industry applications and trends for the Actuators Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Actuators Market?
- Who are the leading companies and what are their portfolios in Actuators Market?
- What segments are covered in the Actuators Market?
- Who are the key players in the Actuators market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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