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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Actuators Market Analysis by Region
North America holds a major share of the market. The region has a substantial manufacturing sector that is increasingly moving towards automation to enhance productivity, efficiency, and safety. Industrial sectors such as automotive, aerospace, food and beverage, and pharmaceuticals are integrating more automated systems that rely on actuators for precise control and movement, fueling the demand for these components. With the rise of electric vehicles (EVs) and autonomous vehicles, there is an increased need for various types of actuators, including those for electric braking systems, adaptive suspension, and automated driving assistance systems.
Meanwhile, the Asia Pacific is a global manufacturing hub, with countries like China and India leading in various manufacturing sectors, including electronics, automotive, textiles, and machinery. The push towards automation to enhance production efficiency and product quality is driving the demand for efficient systems in industrial applications, boosting the actuators market growth.
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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