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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Actuators Market Trends
The trend towards the miniaturisation of actuators is a significant development in the market, driven by the need for smaller, more efficient, and highly precise motion control solutions across various applications. The healthcare sector's push for minimally invasive surgeries and more compact, portable medical devices requires actuators that can operate in limited spaces with high precision. Miniaturised actuators enable the development of sophisticated medical instruments, implants, and diagnostic equipment.
As consumer electronics like smartphones, cameras, and wearables become smaller and more feature-packed, there is a demand for actuators that can perform tasks in very compact spaces and further contribute to the trend of miniturisation in actuators market.
The leading market players are focusing on launching improved product range that can deliver remarkable performance. In December 2023, Flowserve Corporation, recognised globally for providing flow control solutions and services tailored for infrastructure markets, introduced a cutting-edge development in their product line—the Limitorque QX Series B (QXb). This new offering represents a significant advancement in actuator technology, specifically designed for quarter-turn applications, which are movements typically required for valves that rotate through 90 degrees to open or close.
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