Actuator Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance, the global actuator market size was estimated at USD 58.19 billion in 2023 and is projected to reach USD 99.47 billion in 2030 at a CAGR of 7.96% during the forecast period to 2030.
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North America to Dominate the Market
- North America is estimated to account for the largest market share during the forecast period. In North America, the increased usage of actuators in the oil and gas operations and revival of existing facilities is driving the growth of the market.
- Moreover, the presence of well-established and growing automotive industry and aircraft manufacturing units within the region is further expected to drive the growth of the market during the forecast period.
The Prominent Players in the Actuator Market are:
- ABB
- Altra Industrial Motion
- Curtis Wright Corporation
- Eaton Corporation Inc.
- Emerson Electric
- Festo AG & Co. KG
- Flowserve Corporation
- IMI plc
- KSB SE & Co. KGaA
- Linak A/S
- MISUMI
- Mitsubishi Electric Corporation
- Moog
- Parker Hannifin
- Rockwell Automation
- Rotork plc
- Schneider Electric SE
- SMC Corporation
- TAMAGAWA SEIKI Co. Ltd.
- Venture MFG Co. and More
Recent Developments: Actuator Market
- Automation Technology, Inc., a leading provider of customised and comprehensive valve automation solutions, launched Zero Emission Electro-Hydraulic actuator solution to eliminate the carbon footprint of pipeline operations.
- Rollon, a global manufacturer of linear motion and gantry systems, introduced its TLS Series telescoping linear actuators for space-constrained applications. The new series is designed to maximize productivity for applications where space is limited — especially for applications with minimal vertical clearance, such as between the machine and ceiling, or horizontally between machines.
Key Findings
- Based on actuation, the market is bifurcated into pneumatic actuators, hydraulic actuators, electric actuators and mechanical actuators. The electrical actuators dominated the market in this segment.
- Based on type, the market is segmented into linear & rotary. Linear Actuator dominated the market in this segment.
- Based on application, the market is segmented into industrial automation, robotics, vehicles & equipment.
- Based on end user, the market is bifurcated into automotive, oil &gas, aerospace & defense, pharmaceuticals, power, food & beverages, chemicals, water & wastewater, and mining & metals. Automotive sector dominated the market in this segment.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period.
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Frequently Asked Questions
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