Actuators Market: Global Industry Analysis and Forecast (2023-2029)

Actuators market is expected to reach USD 86.27 billion by 2029, with a CAGR of 7.41 % between 2022 and 2029.
Actuators market Overview:
The research gives a comprehensive perspective of the market by combining qualitative and quantitative data. It examines the global Actuators Market and provides forecasts for the key segments. It also includes market size and forecast estimates for five key regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America, for the years 2022 to 2029. The Actuators Market is further split into countries and markets within each location.To know about the Research Methodology :- Request Free Sample Report

In the report, 2022 is considered a base year however 2022’s numbers are on the real output of the companies in the market. Special attention is given to 2022 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and a specific strategic analysis of those companies is done in the report.
Market Dynamics
Actuators' technological improvements have had the most impact on the market. Additionally, rising air passenger numbers and new aircraft deliveries have fueled the market expansion. The development of Smart Cities worldwide and the growing need for novel and cutting-edge actuators across various sectors have favourably affected market expansion. The entire market has benefited from the increased desire to increase productivity and decrease downtime in industrial facilities and manufacturing operations.

Actuator demand has increased due to the increasing usage of actuators in heavy machinery across a variety of automotive and car sectors. The mechanical improvement in automotive and electrical production is becoming more popular on a global scale. Additionally, there has been an increase in demand for new kinds of actuators that are relevant to the field of electrical engineering.

Rising Industrial Automation to Augment Demand for Actuators

The trend toward automation has accelerated due to developments in robotics, artificial intelligence (AI), and machine learning (ML). The automation of many systems and processes in the automotive, food, transportation, industrial, agricultural, and medical industries is made possible by the actuator, a key component used in all actuation systems. Through the anticipated time, a spike in industrial automation is anticipated to drive actuators market growth.

Challenges: Due to prolonged use and abrupt changes in the operating cycle, electric actuators frequently overheat; however, this is uncommon and may harm the actuators' electric components. Environmental factors can affect electric actuator performance. This means that, unlike pneumatic actuators, they cannot operate under dangerous conditions.

The pandemic's quick spread caused the closure of design and manufacturing facilities, which slowed down the manufacture of vehicles. In addition, the disruption of transportation networks and the supply chain resulted in a lack of raw materials needed for the production of cars and the incorporation of technology. The actuator market is anticipated to have challenges as a result of this.

Market Trends:

1. IC Actuators: Intelligent Movement Sensors:

Actuators with an integrated controller (IC) do not require an external control box or relays, making installation a breeze. IC actuators provide a variety of feedback options, as well as simple control solutions, end-of-stroke in/out signals, customisation, and actuator monitoring options. Parallel movement and integrated BUS communication are also possible.

2. Increasing Deck Load Functions:

Deck-load mobile robots are the most common, according to a detailed analysis of the industry. It's typical to move unit loads like pallets, cartons, or shelves. In addition to replacing the traditional transport work from point A to point B, mobile robots are increasingly utilised as a type of flexible, mobile conveyor fit for the factory of the future. Additionally, the trend of deck loading is primarily driven by important industry participants' increased investments in the integration of specific management systems.

3. Relative position sensing:

Similar to climbing a ladder and determining your location by the number of rungs you have held rather than merely looking down, relative placement is a type of count-based feedback. Since it stops the actuator from moving a few millimetres when power is switched off and accurate position feedback is lost, this is generally advantageous in situations where power is delivered continually. In this case, travelling to the actual end of the stroke will be required to re-calibrate the actuator (inwards or outwards).
Actuators Market Segment Analysis:
Linear Actuators are dominating the market in terms of sales:

A linear actuator changes the rotating motion of a motor into a straight motion. While linear actuators move in a straight path, electric motors normally move in a circle. By merely pushing a button, the device can slide, tilt, and lift anything thanks to its push and pull capabilities. In 2022, linear actuators will account for 23.70 billion USD, according to SEICL statistics, because of their excellent dependability and expanding mobility.

Electric Actuators are dominating the market in terms of sales:

Another market trend that has been steadily expanding is the replacement of pneumatic actuators with electromechanical actuators. Many machine designers seek a balance between the speed and dependability of pneumatic actuators and the controllability, repeatability, and efficiency of electromechanical actuators. The Servo Cylinder was built as a brushless dc actuator with peak speeds surpassing 14 in. /sec, great acceleration capability, and larger mechanical components to suit these needs. Additionally, the main driver of the segment's growth is the growing influence of automated goods across end-user sectors, including healthcare, pharmaceuticals, defence, and manufacturing.

Actuators Market Regional Insight

Thanks to the rapid industrialization and urbanization of the area, the market in the Asia Pacific is anticipated to grow at the greatest growth rate during the forecast period. In 2022, the actuators market was dominated by the Asia Pacific region, which is expected to have a 48.2 % share. For the countries of Japan, China, India, South Korea, Taiwan, and the rest of Asia Pacific, the actuators market in this area has been examined. The Asia Pacific region's industries are constantly expanding their capacities, necessitating the use of machinery outfitted with cutting-edge actuators.

Due to the rising use of automation and electric actuation techniques by several major actors and end-users in the area, North America is now the second-dominant region in the world. Additionally, North America, namely the USA, is seeing a semiconductor emergence, and as a result, the factor is thought to be driving the demand for the goods.

In Europe, where top automakers like BMW and Audi are headquartered, the market for automotive actuators is also anticipated to expand significantly.

Report Objectives:

Landscape analysis of the Actuators Market
competitive benchmarking
Past and current status of the industry with the forecasted market size and trends
Evaluation of potential key players that include market leaders, followers, and new entrants
Technology trends
The potential impact of micro-economic factors on the market
External and Internal factors affecting the market have been analyzed

The report also helps in understanding the Actuators Market dynamics, and structure by analyzing the market segments to project the Actuators Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Actuators Market make the report investor’s guide.
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Actuators Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 52.30 Bn.


Forecast Period 2023 to 2029 CAGR:
7.41 %
Market Size in 2029:
US $ 86.27 Bn.


 Segments Covered:
by System
Electric
Pneumatic
Hydraulic
Mechanical
Others


by Type
Rotary
Linear


by Application
Industrial
Commercial


by End-User
Energy and mining
Construction
Chemical.
Automotive
Healthcare
Steel
Military and defense
Others



Actuators Market by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players
1. Eaton Corporation plc.
2. Actuonix Motion Devices
3. Tolomatic, Inc.
4. Festo AG & Co. KG
5. AVK Holdings A/S.
6. Flowserve Corporations,
7. Tyco International Ltd
8. Schlumberger LimitedhH
9. KITZ Corporation
10. Burkert Fluid Control Systems
11. Emerson Electric Co.,
12. Honeywell Corporation
13. Helix Linear Technologies, Inc.
14. Duff-Norton
15. Parker Hannifin
16. Tusk Direct, Inc.
17. Watts Water Technologies, Inc.,
18. Rotork Plc.
19. Samson Ag
20. Robert Bosch GmbH

Frequently Asked Questions

1. What is the projected market size & growth rate of the Actuators Market?
Ans- The Actuators Market was valued at USD 52.30 billion in 2022 and is projected to reach USD 86.27 billion by 2029, growing at a CAGR of 7.41 % during the forecast period.

2. What is the key driving factor for the growth of the Actuators Market?
Ans- rising air passenger numbers and new aircraft deliveries have fueled the market expansion.

3. Which Region accounted for the largest Actuators Market share?
Ans- In 2022, the actuators market was dominated by the Asia Pacific region, which is expected to have a 48.2 % share

4. What makes Europe a Lucrative Market for Actuators Market?
Ans- Thanks to the rapid industrialization and urbanization of the area, the market in the Asia Pacific is anticipated to grow at the greatest growth rate during the forecast period.

5. What are the top players operating in the Actuators Market?
Ans- Eaton Corporation plc. Actuonix Motion Devices, Tolomatic, Inc., Festo AG & Co. KG, and AVK Holdings A/S.