The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Actuator Global Market Report 2024 offers crucial insights into the actuator market help businesses analyse and build stronger strategies.

The actuator market has witnessed substantial growth in recent years, propelled by various factors driving demand across industries. Analyzing the historic and forecasted trends unveils a promising trajectory, underpinned by significant market drivers and emerging innovations.

Historic Growth Drivers

• Automation in Manufacturing: The integration of automation technologies has been a primary driver, enhancing efficiency and productivity in manufacturing processes.
• Industrialization: Rapid industrialization across regions has fueled the demand for actuators, particularly in sectors like automotive, aerospace, and oil & gas.
• Expansion in Energy Sector: The burgeoning energy sector has necessitated advanced actuation solutions for enhanced operational capabilities.
• Healthcare Equipment Demand: Actuators play a crucial role in the healthcare industry, driving the market through the demand for precision and reliability in medical equipment.
• Smart Buildings and Infrastructure: The trend towards smart infrastructure has increased the deployment of actuators for various applications, from HVAC systems to security mechanisms.

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Projected Growth Factors

• Renewable Energy Expansion:  With a global focus on sustainability, the expansion of renewable energy sources drives the demand for actuators in related applications.
• Electrification of Vehicles: The shift towards electric vehicles presents a significant growth opportunity, with actuators playing a vital role in vehicle functionality and performance.
• Precision Medicine and Biotechnology: Advancements in healthcare technologies, including precision medicine and biotechnology, drive the need for high-precision actuators.
• Urbanization and Infrastructure Development: As urban populations grow, the demand for infrastructure development fuels the need for actuators in various construction and automation applications.
• Focus on Energy Efficiency: Actuators contribute to energy efficiency initiatives across industries, aligning with global efforts towards sustainability.
• Rise of Robotics and Automation: The increasing adoption of robotics and automation in various sectors further drives demand for advanced actuators.

Major Trends in Forecasted Period

• Rise of Electric Actuators: Electric actuators are poised for significant growth, driven by their efficiency, precision, and environmental advantages.
• Advancements in Smart Actuators: Smart actuators equipped with sensing and control capabilities are gaining prominence for enhanced functionality and adaptability.
• Expansion of IIoT Integration: Industrial Internet of Things (IIoT) integration facilitates remote monitoring and control, driving the adoption of connected actuators.
• Growth in Robotics and Automation: The proliferation of robotics and automation technologies across industries amplifies the demand for specialized actuators.
• Miniaturization and High-Precision Actuators: Advancements in miniaturization technologies enable the development of compact yet high-performance actuators catering to diverse applications.
• Adoption of Pneumatic and Hydraulic Actuators: Despite the rise of electric actuators, pneumatic and hydraulic actuators continue to find extensive use in industrial applications due to their robustness and reliability.

Impact of Electric Vehicle Sales on Market Growth

The surge in electric vehicle sales has emerged as a significant driver of the actuator market, with actuators playing a critical role in electric mobility. The exponential growth of electric vehicle sales, as evidenced by the Global EV Outlook 2022 report, underscores the increasing reliance on electric propulsion systems. Major players such as Emerson Electric Co., ABB Ltd., and Rockwell Automation Inc. are well-positioned to capitalize on this trend, offering innovative actuation solutions tailored to the electric vehicle segment.

Innovations Redefining Industrial Electromechanical Solutions

Product innovations remain at the forefront of market competition, with companies striving to enhance their offerings to meet evolving industry demands. Curtiss-Wright Corporation’s introduction of the Exlar SA-R080 rotary and SA-L080 linear actuators exemplifies the drive towards enhanced performance and efficiency in actuation technologies. Similarly, strategic acquisitions, such as Volz Servos GmbH & Co. KG’s acquisition of AEE GmbH, reflect the industry’s focus on expanding capabilities to cater to emerging markets and applications.

Market Segmentation and Regional Dynamics

The actuator market is segmented by type, motion, and end-user industries, reflecting the diverse applications and requirements across sectors. Asia-Pacific emerged as the largest region in the actuator market in 2023, driven by rapid industrialization and infrastructure development in countries like China and India.

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The Actuator Global Market Report 2024 provides a comprehensive outlook of the actuator market for the historic years (2010 -2021) and ten years forecast (2023 – 2032).The actuator market forecast offers a thorough analysis onactuatormarket size, actuator market share,prominent players and their strategies.

The Table Of Content For The Actuator Market Include:
1. Actuator Market Executive Summary
2. Actuator Market Segments
3. Actuator Market Size And Actuator Market Growth Rate
4. Key Actuator Market Trends
5. Major Actuator Market Drivers
……
25. Key Mergers And Acquisitions In The Actuator Market
26. Top Actuator Companies
27. Actuator Market Opportunities And Strategies
28. Actuator Market, Conclusions And Recommendations
29. Appendix

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