Actuators Market Analysis & Forecast 2024-2030

Global Actuators Market is expected to reach USD 78606.97 million by 2030 with CAGR of 5.7% between 2024 and 2030

Actuator is either a mechanical or electro-mechanical devices that converts energy into motion. Actuator is basically used to apply a force on an object to perform various mechanical operations. . Two basic motions used by actuators are linear and rotary. Linear actuators convert energy into straight line motions while rotary actuators convert energy to provide rotary motion. Actuators are primarily used in manufacturing or industrial applications like power industry, petrochemical industry, water treatment and others. Actuators might be used in devices such as motors, cylinders, rock and pinion arrangements, pumps, switches and valves.  

On the basis of product type, the actuators market has been segmented as Pneumatic, Electric, Hydraulic, Mechanical, and others. Electric type segment emerged as the largest market player with market share of 33% in 2023 having a market value of USD 4.4 billion and is anticipated to grow at the highest CAGR of 5.61% during the forecast period. Manufacturing segment has emerged as largest segment on application basis. Automotive manufacturing segment holds largest market share of 18% in 2023 having a market value of USD 2.4 billion and is anticipated to grow at the highest CAGR of 6.11% during the forecast period.  

Mounting configuration, output torque, maximum speed, maximum extension, holding force, enclosure protection ratings are different parameters used for the classification of actuators. Rise in the number of aircraft carriers, continuous growth in the global automotive industry, increased investments in process automation across end-use verticals and technological advancements in actuators are the key factors driving the growth of the actuators market. However, high costing of the actuators and volatility in the oil & gas market is one of the restraints for the actuators market during the forecast period. Also, power consumption, noise, and leaks are the major challenges faced by the actuators in current market.  

North America is the largest actuators with a 34 % share market followed by Asia Pacific and Europe with shares of 29% and 23%, respectively in 2023. Asia Pacific is expected to emerge as the largest player by 2025 in global actuators market. New technological advancements in actuators with new specifications, innovative concepts, and new applications are constantly evolving to support new needs in actuators system is boosting actuators market during the forecast period globally. With increasing urbanization, industrialization and rising income, Asia Pacific is emerging as a largest market player for manufacturers as growing industrial base in Asia Pacific region has a positive influence on the growth of the market. The increasing demand from the upper middle class for automotive vehicles is driving the actuators market in the Asia-Pacific region.  

Actuators Market : Product Type

• Electric Type
• Hydraulic Type
• Pneumatic Type

Actuators Market : Application

• Power Industry
• Petrochemical Industry
• Water Treatment
• Manufacturing
• Aerospace And Defense

Global Actuators Market: Competitive Analysis

Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Global Actuators Market:

• Rotork
• Pentair
• Auma
• Emerson
• Siemens
• Flowserve
• ABB
• SMC Corporation
• Festo
• Air Torque
• Honeywell
• Bernard
• Nihon KOSO
• VALBIA
• Parker Hannifin
• BAR GmbH
• Bray
• HKS Dreh-Antriebe
• SUMUKE
• Moog Flo-Tork
• Micromatic
• ATI
• Helac
• Cameron
• OMAL

Geographical analysis of Actuators Market :

• North America
  • U.S.A
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Actuators Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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