Market Overview:
Global Actuators Market Size Was Valued at USD 45.82 Billion In 2022 And Is Projected to Reach USD 64.65 Billion By 2030, Growing at A CAGR of 3.9% From 2023 To 2030.
Actuators are devices that convert energy into motion and are primarily used to move or control mechanisms and systems. Actuators are powered by an external power source, typically electrical power, hydraulic fluid pressure, or pneumatic pressure, which is then converted into motion. Actuators perform two basic movements which are linear and rotational. They are available in various types, sizes, and power configurations depending on the applications in which they are to be used. The actuator market has grown significantly due to massive application in a variety of segments like Material Handling, Robotics, Food and Beverage Manufacturing, Window Automation, Agricultural Machinery, Solar Panel Operation, Cutting Equipment, Valve Operation, Non-Industrial Applications, and automotive and mechanical machinery
Top Key Players in the Actuators Market:
The Emerson Electric Company, Honeywell International Inc, Moog Inc, Rotork Plc, Parker Hannifin Corporation, ABB Group, Cameron International Corporation, Eaton Corporation Plc, and Other Major Players.
Market Dynamics and Factors for Actuators Market:
Drivers:
Healthcare Facility Expansion And The Increasing Elderly Population.
The healthcare industry develops and produces innovative machines that require actuators and are used in medical devices such as wheelchairs, patient lifts, treatment chairs, dentist chairs, beds for medical purposes, and CT, MRI, and PT scanning instruments. The growth in the global healthcare actuator market is primarily attributed to factors such as healthcare facility expansion and the increasing elderly population. A common example is the use of moving coil actuators and control valves in ventilators to facilitate air supply to patients who cannot breathe on their own. due to lung disease, surgery, or other serious illness or accident. In addition, the RT-PCR test, which is very effective in detecting the SARSCoV2 virus, uses linear actuators (they simply act as a conveyor belt) for its linear motion systems and to perform a large number of RTPCR tests that are required in emergencies such as COVID19. Linear drives support the loading, unloading, and moving of samples as well as the necessary liquid handling process in important test phases.
Opportunities:
Increasing Used In Industries Such As Agriculture, Construction, Electronics, And Electrical Engineering
The actuators market hold massive growth opportunity due to the wide array of industries that uses actuators in numerous mechanical and automatic equipment and machines. The actuators are widely used in industries such as Agriculture, Construction, Electronics, and Electrical engineering, Shipping machinery, Aerospace and Defense, Oil and Gas, Food and Beverage industry, and healthcare equipment and devices. The growing use of actuators in materials handling gear, robotics, Window Automation, and Cutting equipment. Such vast applications in various machinery create high demand from all over the globe which supports local as well as international players.
Segmentation Analysis of the Actuators Market:
By System, the Electrical actuator is the dominating segment in the Actuators Market. Electric actuator holds a large portion of the Actuators Market due to their large application in a wide array of industrial application, including food and beverage, automotive industry, material handling, robotics, electronics, and electronic assembly.
By Type, the Linear actuator segment is the dominating segment in the Actuators Market. The linear actuator provides Actual accurate control and positioning which enhances the performance. Linear actuator able to stop at any point of the stroke without external sensors and low operating costs creates the most viable and opted actuators in the operation.
Regional Analysis of the Actuators Market:
The Asia-Pacific region is expected to account for 48.2% of the actuator market in 2021. The actuator market in this region has been studied for Japan, China, India, South Korea, Taiwan, and the rest of Asia Peaceful. The Asia-Pacific region is constantly improving its skills and therefore requires machines equipped with new and advanced actuators. Countries like China and Japan are investing heavily in robotics and automation to gain a tactical advantage in robotics and process automation. This offers an excellent growth opportunity for drive manufacturers in the Asia-Pacific region.
Key Industry Development:
In February 2020, Emerson introduced ASCO's 158 Series Gas Valve and 159 Series Motorized Actuator, improving both flow and control.
In October 2019, Parker Hannifin Corporation completed the acquisition of LORD Corporation, a leading manufacturer of advanced adhesives, coatings, and vibration and motion control technologies, for approximately $ 3.675 billion in cash.
For this report, Introspective Market Research has segmented the Dog Food Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
