The actuators market is estimated to grow at a CAGR 7.48% rate during the forecast period. Factors such as need to increase productivity & reduce downtime in industrial facilities & manufacturing activities worldwide, the development of advanced & cost-effective actuators and increasing demand for industrial robots & process automation in different industrial verticals are expected to drive the market.
The linear segment is projected to grow at the highest CAGR during the forecast period. Linear actuators are used primarily in automation applications. They are used in a wide range of industries where positioning is needed. The given market is segmented into linear and rotary.
The market has been segmented into industrial automation and robotics. The robotic segment is expected be have the highest growth because industries such as automotive and electrical & electronics have shown higher adoption of robots. Other sectors such as pharmaceutical, pulp & paper, and food & beverages are expected to incline more towards the use of robots by increasing adoption of robots by small- and medium-sized enterprises.
The electrical actuation segment is estimated to hold the largest share. The growth of the electrical actuation segment can be attributed to the replacement of hydraulic and pneumatic actuators by electrical actuators due to their higher efficiency and greater levels of control. The amount of energy consumed in hydraulic and pneumatic actuators is higher than that by electrical actuators.
The Asia Pacific region projected to grow at the highest rate owing to China and Japan which are primarily investing in automation to enhance and gain a tactical edge and the development of advanced & cost-effective actuators, and increasing demand for industrial robots and industrial automation in different industrial verticals.
Key Market Players includes ABB (Switzerland), Rockwell Automation (US), Altra Industrial Motion (US), Moog (US), SMC (Japan), Curtiss Wright (US), and MISUMI (Japan), among others.
Key Questions addressed by the report
- How will the drivers, challenges, and future opportunities for the actuators market affect its dynamics and the subsequent market analysis of the associated trends?
- What are the key sustainability strategies adopted by leading players operating in the actuators market?
- What are the new emerging technologies and use cases disrupting the industry?
- When are the high growth niche segments expected to impact in changing the revenue mix of companies?
- Who are the key players and innovators in the partnership ecosystem?
- How is the competitive landscape changing in the client ecosystem and impacting their revenue share?
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Actuators Market, By Application
Vehicles and Equipment
6. Actuators Market, By Vertical
Oil & Gas
Pharmaceutical & Healthcare
Aerospace & Defense
Electronics & Electrical
Food & Beverages
Metals, Mining, and Machinery
Chemicals, Paper, and Plastics
Household & Entertainment
7. Actuators Market, By Actuation
8. Actuators Market, By Valves
9. Actuators Market, By Type
10. Actuators Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
11. Company Profiles
Curtis Wright (Exlar)
Harmonic Drive LLC
Altra Industrial Motion
Venture Mfg. Co.