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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Actuators Market Size
The global actuators market reached approximately USD 60.34 billion in 2023. The market is projected to grow at a CAGR of 7.4% between 2024 and 2032, reaching a value of around USD 114.82 billion by 2032.
Key Takeaways
- Electrical actuators offer excellent precision and repeatability in positioning, making them ideal for applications requiring meticulous motion control.
- Hydraulic actuators generate significant forces compared to their size, making them suitable for heavy-duty applications such as construction equipment.
- Pneumatic actuators operate at high speeds and with quick response times, making them suitable for applications requiring rapid movement.
An actuator refers to a component of the machine, which ensures mobility and control over a mechanism or system. They are fundamental parts of systems and devices across a wide range of industrial sectors, including automotive, manufacturing, and robotics. For instance, the opening up of a valve which requires a source of energy and a control signal from actuators.
The creation of advanced and price-effective actuators, along with the rising demand for robotics and process automation in various industrial segments, are some of the factors that affect the actuators market growth. As companies look to improve efficiency, reduce labour costs, and enhance precision, the role of actuators becomes more critical in enabling these technologies. The integration of smart technologies and the Internet of Things (IoT) into actuators allows for real-time monitoring, control, and diagnostics, leading to more efficient and reliable operations. This trend towards smarter, more connected systems drives the development of advanced actuators.
Actuators Market Report Snapshots
Actuators Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global actuators market attained a value of nearly USD 60.34 billion.
The market is projected to grow at a CAGR of 7.40% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 114.82 billion by 2032.
The major drivers of the market are the growing demands to enhance productivity, rising downtime in the industrial plants, and increased automation across different industries.
The key trends guiding the growth of the market include the rising availability of advanced and price-effective actuators, growing preference towards robotics in different sectors, and rapid technological advancements.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading actuation segments in the market are electrical, hydraulic, and pneumatic, among others.
The significant types of actuators in the market are linear actuators and rotary actuators.
The significant applications segments of the product in the market are industrial automation, robotics, and vehicles and equipment, among others.
The major players in the market are Rockwell Automation, Inc., Moog Inc., SMC Corporation of America, Curtiss-Wright, IMI Critical Engineering, Tolomatic, Inc., and Venture MFG. Co., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124