Actuators Market size was valued at USD 62.89 Bn in 2023 and is expected to reach at USD 108.7 Bn by 2031, and grow at a CAGR of 7.08 % over the forecast period 2024-2031.
The global actuators market is expanding rapidly, driven by an increasing demand for automation across various industries, including automotive, aerospace, manufacturing, and healthcare. Actuators, which convert energy into mechanical motion, play a crucial role in enabling automated systems and smart devices, a trend further propelled by the adoption of Industry 4.0 and IoT technologies. The rising focus on industrial automation, especially in emerging economies, is boosting market growth, as actuators enhance productivity and operational efficiency in manufacturing. Additionally, advancements in materials and technology are resulting in more compact, efficient, and durable actuators, broadening their applications across sectors that require precision and reliability.
Innovation in electric actuators is also transforming the market, as these types are replacing traditional hydraulic and pneumatic systems due to their energy efficiency and low maintenance requirements. The adoption of electric actuators is particularly strong in the automotive and aerospace industries, where they help to reduce overall vehicle weight and improve fuel efficiency. Moreover, the healthcare sector is increasingly deploying actuators in advanced medical devices, such as robotic surgical equipment and patient mobility solutions, supporting the market's growth. With sustainability becoming a key priority globally, the shift toward electric and digitally controlled actuators aligns with eco-friendly objectives, positioning the actuators market for sustained expansion
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Covid 19 impact analysis:
The latest report is the most recent study that offers coverage of the Actuators industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Actuators market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
Crane Co., Emerson (Pentair Valves), Flowserve Corporation, General Electric Company, Imi PLC, Kitz Corporation, Metso Oyj (Neles Oyj), Parker-Hannifin Corporation, Rotork PLC, Schlumberger Limited and other players.
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Actuators market.
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It has segmented the global Actuators market
On The Basis of Type
Linear Actuator
Rotary Actuator
On The Basis of Actuation
Electrical
Pneumatic
Hydraulic
Others
On The Basis of Application
Industrial automation
Robotics
Vehicles and Equipment
Key Objectives of the Global Actuators Market Report:
The report conducts a comparative assessment of the leading market players participating in the global Actuators
The report marks the notable developments that have recently taken place in the Actuators industry
It details on the strategic initiatives undertaken by the market competitors for business expansion.
It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Actuators market value chain.
The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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