Global Actuators Market Overview
Global Actuators Market Size Was Valued at USD 47.12 Billion In 2023 And Is Projected to Reach USD 68.83 Billion By 2032, Growing at a CAGR of 4.3% From 2024 To 2032.
An actuator is a mechanism that transforms energy from various sources like electricity, hydraulics, or pneumatics into physical movement or power. This transformation enables actuators to carry out tasks, which are vital elements in a diverse range of uses.
- Actuators, especially electrical ones, provide a means of high power conversion efficiency suitable for energy-saving purposes. They have the ability to function using different types of power sources and offer accurate positioning control for precise motion.
- Actuators are capable of producing significant force and functioning at high speeds to meet the demands of robotics and heavy machinery tasks. Due to their effectiveness and minimal maintenance needs, electric actuators are both dependable and eco-friendly.
- They can be smoothly incorporated into advanced control systems for complex control and monitoring. Actuators are made to last and offer reliable functionality even in severe environments.
- Actuators are essential in many sectors, including automotive, aerospace, robotics, manufacturing, medical devices, agriculture, construction, consumer electronics, industrial plants, and renewable energy.
Market Dynamics And Factors of Actuators Market
Drivers:
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 a 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 RTPCR 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. Linear drives support sample labeling and the barcode process and can work faster and longer than humans. A leading company called MecVel uses actuators for various applications such as linear automation systems in incubators for newborns and electric linear actuators for X-ray machines etc.
The automotive sector contributes majorly to the growth of the actuators market globally due to one of the essential components in the automotive vehicles. Commercial vehicle and passenger car sales continue to grow, and OEMs have made the interior a key focus to improve passenger safety and comfort. so that the seats are more comfortable and smarter. Actuators are used in seats to adjust lumbar support systems, seat positioning, angles, and seat rail actuators. Various types of actuators for car seat adjustment are available on the market, including gear motors for tilt adjustment, double output shafts for caterpillar drives, and linear actuators for height and tilt adjustment. Due to the worldwide increase in sales of SUVs and premium vehicles, it is expected that the market segment for seat adjustment drives will be expanded. the passenger experiences.
Restraints:
The restraining factor of the actuator depends on the type and application. Electric actuators can be poor in dynamic response and compliance and wear issues can cause inaccuracies. Hydraulic actuators can be high maintenance and not suitable for a clean environment and also leakage can be a major restraining factor of hydraulic actuators.
Opportunities:
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, Cutting equipment. Such vast applications in various machinery create high demand from all over the globe which supports local as well as international players.
Variable speed actuators open up new application opportunities in sophisticated speed actuators in various applications. More cultured actuators with variable speed offer possibilities like water hammers can be a major problem in many applications. Valve seats suffer if they are forcibly pushed into their end position when the valve is closed. A speed-controlled actuator gives the control engineer the option of specifying the actuating speed at different points in the cycle. The usual way to do this is to move the valve quickly for most of its cycle and slow it down as it approaches the closed position. A fast closing speed can be specified for emergencies. The speed actuator provides high-performance characteristics and supports the growth of the Actuators Market.
Challenges:
Pneumatic actuators convert the energy generated from compressed air into mechanical movement. The installation of pneumatic actuators is very troublesome work, and the maintenance costs of these actuators are high. Pneumatic actuators are a combination of different systems including compressors, air filters, lubrication hoses, etc., dryers, and regulators. Negligence or inadequate maintenance of these systems can lead to problems such as excessive noise and air leaks. With hydraulic drives, the hydraulic fluid is pumped through a storage tank, which converts the energy into mechanical movement. Hydraulic actuators have several advantages over pneumatic actuators in terms of power generation and process control. However, the likelihood of fluid leaks, fire hazards, and actuator system degradation due to erosion caused by fluid leaks are significant threats. Therefore, leakage problems are expected, along with the high level of noise caused by the operation of pneumatic and hydraulic actuators. affect the market growth prospects over the forecast period.
Market Segmentation
Segmentation Analysis of Actuators Market
By Actuation, 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, food and beverage, automotive industry, material handling and robotic, electronics, and electronic assembly. The automotive sector utilized the actuators in driverless transport vehicles due to extensive automation in automotive parts and machines making it utilization of electric actuator automotive segment, such integration causing the growth of Actuators Market.
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. The linear actuator is used in automotive applications which is one of the largest demanding segments in the Actuators Market. The dependency of linear on automotive sector reflects on the growth of the segment on Actuators Market.
By Application, Vehicles and Equipment held the largest share in terms of application in the Actuators Market. The actuator is a major component in vehicles that dispense power and fluid into various parts of the engine. Actuator usage in equipment including mechanical road gates, garage doors, and gates, small hoists, and cranes. In the automotive sector, these actuators are used as mechanisms for opening windows and frames of cargo or engine compartments. Electric linear actuators They are also widely used to create Electronic DIY -Mechanisms for various budgetary purposes. Thus, it supports the growth of the actuator market globally.
By Vertical, the Automotive segment is the dominating segment in the Actuators Market. Actuators are one of the vital parts of the electric control system in passenger and commercial vehicle Actuator are generally electric motor or electric valves. An electric actuator work as a movement of a load, or an action requiring a force such as clamping, using an electric motor to create the necessary force. The actuator is used in Internal combustion engines and electric vehicles which makes it global demand generating component, supporting local manufacturers as well as global export of actuators. The automotive segment is expected to grow at a fast pace during the forecasted period.
Regional Analysis of Actuators Market
The Asia-Pacific region stands as a powerhouse in the Actuators Market, commanding a dominant position driven by several factors. Booming industrialization across countries like China, India, Japan, and South Korea has fueled the demand for actuators across various sectors including manufacturing, automotive, aerospace, and healthcare. Additionally, rapid urbanization, infrastructure development projects, and increasing investments in automation technologies have further propelled market growth.
Moreover, the region benefits from a robust manufacturing ecosystem, technological advancements, and a skilled labor force, which contribute to the development and adoption of advanced actuators. Government initiatives supporting industrial growth and innovation also play a significant role in driving the market forward.
Asia-Pacific region's strategic focus on renewable energy and sustainability has led to a growing demand for actuators in the renewable energy sector, particularly in wind turbines and solar panels, adding to its market dominance. With its dynamic economic landscape and continuous advancements, the Asia-Pacific region is poised to maintain its stronghold in the global Actuators Market for the foreseeable future.
Players Covered in Actuators Market are:
- Honeywell International Inc.
- Siemens AG
- Emerson Electric Co.
- Schneider Electric SE
- ABB Ltd.
- Rotork plc
- Parker Hannifin Corporation
- SMC Corporation
- Festo AG & Co. KG
- Johnson Controls International plc
- Belimo Holding AG
- Danfoss A/S
- Moog Inc.
- Curtiss-Wright Corporation
- Altra Industrial Motion Corp.
- AUMA Riester GmbH & Co. KG
- Eaton Corporation plc
- IMI plc
- Tsubakimoto Chain Co.
- Nihon Koso Co., Ltd.
Key Industry Developments of Actuators Market
- In May 2024, Flowserve has launched the new Limitorque QX Series B (QXb) quarter-turn smart electric actuator, designed to provide unmatched reliability and precision in demanding applications across various industries, such as oil and gas, water and wastewater, commercial power, chemical, and general industries.
- In November 2023, ADVICS, a well-known brake system products manufacturer, introduced a new line of electric parking brake (EPB) actuator kits in North America. These kits attach to a vehicle's caliper, making it easier to engage the parking brake. EPBs have become the standard in modern vehicles, providing convenience and efficiency compared to traditional parking brakes.
Global Actuators Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 47.12 Bn. |
Forecast Period 2024-32 CAGR: |
4.3% |
Market Size in 2032: |
USD 68.83 Bn. |
Segments Covered: |
By Type |
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By System |
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By End-Users |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By System
ā3.3 By End-Users
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā4.3.1 Drivers
āā4.3.2 Restraints
āā4.3.3 Opportunities
āā4.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 5: Actuators Market by Type
ā5.1 Actuators Market Overview Snapshot and Growth Engine
ā5.2 Actuators Market Overview
ā5.3 Linear Actuator
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2016-2028F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Linear Actuator: Grographic Segmentation
ā5.4 Rotary Actuator
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2016-2028F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Rotary Actuator: Grographic Segmentation
Chapter 6: Actuators Market by System
ā6.1 Actuators Market Overview Snapshot and Growth Engine
ā6.2 Actuators Market Overview
ā6.3 Electrical
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size (2016-2028F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 Electrical: Grographic Segmentation
ā6.4 Pneumatic
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size (2016-2028F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 Pneumatic: Grographic Segmentation
ā6.5 Hydraulic
āā6.5.1 Introduction and Market Overview
āā6.5.2 Historic and Forecasted Market Size (2016-2028F)
āā6.5.3 Key Market Trends, Growth Factors and Opportunities
āā6.5.4 Hydraulic: Grographic Segmentation
ā6.6 Others
āā6.6.1 Introduction and Market Overview
āā6.6.2 Historic and Forecasted Market Size (2016-2028F)
āā6.6.3 Key Market Trends, Growth Factors and Opportunities
āā6.6.4 Others: Grographic Segmentation
Chapter 7: Actuators Market by End-Users
ā7.1 Actuators Market Overview Snapshot and Growth Engine
ā7.2 Actuators Market Overview
ā7.3 Oil & Gas
āā7.3.1 Introduction and Market Overview
āā7.3.2 Historic and Forecasted Market Size (2016-2028F)
āā7.3.3 Key Market Trends, Growth Factors and Opportunities
āā7.3.4 Oil & Gas: Grographic Segmentation
ā7.4 Pharmaceutical & Healthcare
āā7.4.1 Introduction and Market Overview
āā7.4.2 Historic and Forecasted Market Size (2016-2028F)
āā7.4.3 Key Market Trends, Growth Factors and Opportunities
āā7.4.4 Pharmaceutical & Healthcare: Grographic Segmentation
ā7.5 Automotive
āā7.5.1 Introduction and Market Overview
āā7.5.2 Historic and Forecasted Market Size (2016-2028F)
āā7.5.3 Key Market Trends, Growth Factors and Opportunities
āā7.5.4 Automotive: Grographic Segmentation
ā7.6 Aerospace & Defense
āā7.6.1 Introduction and Market Overview
āā7.6.2 Historic and Forecasted Market Size (2016-2028F)
āā7.6.3 Key Market Trends, Growth Factors and Opportunities
āā7.6.4 Aerospace & Defense: Grographic Segmentation
ā7.7 Marine
āā7.7.1 Introduction and Market Overview
āā7.7.2 Historic and Forecasted Market Size (2016-2028F)
āā7.7.3 Key Market Trends, Growth Factors and Opportunities
āā7.7.4 Marine: Grographic Segmentation
ā7.8 Others
āā7.8.1 Introduction and Market Overview
āā7.8.2 Historic and Forecasted Market Size (2016-2028F)
āā7.8.3 Key Market Trends, Growth Factors and Opportunities
āā7.8.4 Others: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
ā8.1 Competitive Landscape
āā8.1.1 Competitive Positioning
āā8.1.2 Actuators Sales and Market Share By Players
āā8.1.3 Industry BCG Matrix
āā8.1.4 Ansoff Matrix
āā8.1.5 Actuators Industry Concentration Ratio (CR5 and HHI)
āā8.1.6 Top 5 Actuators Players Market Share
āā8.1.7 Mergers and Acquisitions
āā8.1.8 Business Strategies By Top Players
ā8.2 THE EMERSON ELECTRIC COMPANY
āā8.2.1 Company Overview
āā8.2.2 Key Executives
āā8.2.3 Company Snapshot
āā8.2.4 Operating Business Segments
āā8.2.5 Product Portfolio
āā8.2.6 Business Performance
āā8.2.7 Key Strategic Moves and Recent Developments
āā8.2.8 SWOT Analysis
ā8.3 HONEYWELL INTERNATIONAL INC
ā8.4 MOOG INC
ā8.5 ROTORK PLC
ā8.6 PARKER HANNIFIN CORPORATION
ā8.7 ABB GROUP
ā8.8 CAMERON INTERNATIONAL CORPORATION
ā8.9 EATON CORPORATION PLC
ā8.10 OTHER MAJOR PLAYERS
Chapter 9: Global Actuators Market Analysis, Insights and Forecast, 2016-2028
ā9.1 Market Overview
ā9.2 Historic and Forecasted Market Size By Type
āā9.2.1 Linear Actuator
āā9.2.2 Rotary Actuator
ā9.3 Historic and Forecasted Market Size By System
āā9.3.1 Electrical
āā9.3.2 Pneumatic
āā9.3.3 Hydraulic
āā9.3.4 Others
ā9.4 Historic and Forecasted Market Size By End-Users
āā9.4.1 Oil & Gas
āā9.4.2 Pharmaceutical & Healthcare
āā9.4.3 Automotive
āā9.4.4 Aerospace & Defense
āā9.4.5 Marine
āā9.4.6 Others
Chapter 10: North America Actuators Market Analysis, Insights and Forecast, 2016-2028
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Linear Actuator
āā10.4.2 Rotary Actuator
ā10.5 Historic and Forecasted Market Size By System
āā10.5.1 Electrical
āā10.5.2 Pneumatic
āā10.5.3 Hydraulic
āā10.5.4 Others
ā10.6 Historic and Forecasted Market Size By End-Users
āā10.6.1 Oil & Gas
āā10.6.2 Pharmaceutical & Healthcare
āā10.6.3 Automotive
āā10.6.4 Aerospace & Defense
āā10.6.5 Marine
āā10.6.6 Others
ā10.7 Historic and Forecast Market Size by Country
āā10.7.1 U.S.
āā10.7.2 Canada
āā10.7.3 Mexico
Chapter 11: Europe Actuators Market Analysis, Insights and Forecast, 2016-2028
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Linear Actuator
āā11.4.2 Rotary Actuator
ā11.5 Historic and Forecasted Market Size By System
āā11.5.1 Electrical
āā11.5.2 Pneumatic
āā11.5.3 Hydraulic
āā11.5.4 Others
ā11.6 Historic and Forecasted Market Size By End-Users
āā11.6.1 Oil & Gas
āā11.6.2 Pharmaceutical & Healthcare
āā11.6.3 Automotive
āā11.6.4 Aerospace & Defense
āā11.6.5 Marine
āā11.6.6 Others
ā11.7 Historic and Forecast Market Size by Country
āā11.7.1 Germany
āā11.7.2 U.K.
āā11.7.3 France
āā11.7.4 Italy
āā11.7.5 Russia
āā11.7.6 Spain
āā11.7.7 Rest of Europe
Chapter 12: Asia-Pacific Actuators Market Analysis, Insights and Forecast, 2016-2028
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Linear Actuator
āā12.4.2 Rotary Actuator
ā12.5 Historic and Forecasted Market Size By System
āā12.5.1 Electrical
āā12.5.2 Pneumatic
āā12.5.3 Hydraulic
āā12.5.4 Others
ā12.6 Historic and Forecasted Market Size By End-Users
āā12.6.1 Oil & Gas
āā12.6.2 Pharmaceutical & Healthcare
āā12.6.3 Automotive
āā12.6.4 Aerospace & Defense
āā12.6.5 Marine
āā12.6.6 Others
ā12.7 Historic and Forecast Market Size by Country
āā12.7.1 China
āā12.7.2 India
āā12.7.3 Japan
āā12.7.4 Singapore
āā12.7.5 Australia
āā12.7.6 New Zealand
āā12.7.7 Rest of APAC
Chapter 13: Middle East & Africa Actuators Market Analysis, Insights and Forecast, 2016-2028
ā13.1 Key Market Trends, Growth Factors and Opportunities
ā13.2 Impact of Covid-19
ā13.3 Key Players
ā13.4 Key Market Trends, Growth Factors and Opportunities
ā13.4 Historic and Forecasted Market Size By Type
āā13.4.1 Linear Actuator
āā13.4.2 Rotary Actuator
ā13.5 Historic and Forecasted Market Size By System
āā13.5.1 Electrical
āā13.5.2 Pneumatic
āā13.5.3 Hydraulic
āā13.5.4 Others
ā13.6 Historic and Forecasted Market Size By End-Users
āā13.6.1 Oil & Gas
āā13.6.2 Pharmaceutical & Healthcare
āā13.6.3 Automotive
āā13.6.4 Aerospace & Defense
āā13.6.5 Marine
āā13.6.6 Others
ā13.7 Historic and Forecast Market Size by Country
āā13.7.1 Turkey
āā13.7.2 Saudi Arabia
āā13.7.3 Iran
āā13.7.4 UAE
āā13.7.5 Africa
āā13.7.6 Rest of MEA
Chapter 14: South America Actuators Market Analysis, Insights and Forecast, 2016-2028
ā14.1 Key Market Trends, Growth Factors and Opportunities
ā14.2 Impact of Covid-19
ā14.3 Key Players
ā14.4 Key Market Trends, Growth Factors and Opportunities
ā14.4 Historic and Forecasted Market Size By Type
āā14.4.1 Linear Actuator
āā14.4.2 Rotary Actuator
ā14.5 Historic and Forecasted Market Size By System
āā14.5.1 Electrical
āā14.5.2 Pneumatic
āā14.5.3 Hydraulic
āā14.5.4 Others
ā14.6 Historic and Forecasted Market Size By End-Users
āā14.6.1 Oil & Gas
āā14.6.2 Pharmaceutical & Healthcare
āā14.6.3 Automotive
āā14.6.4 Aerospace & Defense
āā14.6.5 Marine
āā14.6.6 Others
ā14.7 Historic and Forecast Market Size by Country
āā14.7.1 Brazil
āā14.7.2 Argentina
āā14.7.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion
Global Actuators Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 47.12 Bn. |
Forecast Period 2024-32 CAGR: |
4.3% |
Market Size in 2032: |
USD 68.83 Bn. |
Segments Covered: |
By Type |
|
|
By System |
|
||
By End-Users |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
|
Frequently Asked Questions :
The forecast period in the Actuators Market research report is 2024-2032.
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.
The Actuators Market has been segmented into Type, System, End-Users, and region. By Type, the market is categorized into Linear Actuator, Rotary Actuator. By System, the market is categorized into Electrical, Pneumatic, Hydraulic, and Others. By End-Users, the market is categorized into Oil & Gas, Pharmaceutical & Healthcare, Automotive, Aerospace & Defense, Marine, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
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.
Global Actuators Market Size Was Valued at USD 47.12 Billion In 2023 And Is Projected to Reach USD 68.83 Billion By 2032, Growing at a CAGR of 4.3% From 2024 To 2032.