The Actuator Global Market Report 2023, provides comprehensive information on the actuator market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Actuator Global Market Report 2023, the global actuator market size is expected to grow from $50.21 billion in 2022 to $54.85 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global actuator market size is expected to grow to $76.64 billion in 2027 at a CAGR of 8.7%.
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Product innovations have emerged as a key trend gaining popularity in the actuator market. Major companies operating in the actuator market are focused on developing and launching innovative products to strengthen their position in the market. For instance, in October 2021, Curtiss-Wright Corporation, a US-based aviation company and developer of edge sensors, controls, sub-systems, and mission-critical components, introduced the Exlar SA-R080 rotary and SA-L080 linear actuators with integral controls, the newest sense and control actuator model. The SA-080 is the first frame size (80 mm) in Curtiss-Harsh Wright’s environment control and sense family of industrial electromechanical actuators. The SA series actuators provide force, precision, energy efficiency, and control while requiring less cabling, external servo controls, and integration than more traditional actuation solutions. The SA-080 series’ features include a high-pressure seal and rod scraper for ingress protection, a standard rear manual drive for emergency operation, integrated power and control electronics tuned for high performance, and many others.
The actuator market is segmented:
1) By Type: Pneumatic Actuators, Hydraulic Actuators, Electric Actuators, Mechanical Actuators
2) By Motion: Linear Actuator, Rotary Actuator
3) By End User: Automotive, Aerospace, Oil And Gas, Pharmaceutical, Power Generation, Food And Beverages, Chemicals, Mining, Other End Users
Asia-Pacific was the largest region in the actuator market in 2022.
The table of contents in TBRC’s actuator market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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