Pune, April 04, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report states that the Actuators Market had a value of USD 56.29 billion in 2022, and is projected to attain a value of USD 111.43 billion by 2030, with an estimated compound annual growth rate (CAGR) of 8.91% during the forecast period from 2023 to 2030.
Market Overview
An actuator is a mechanical device that is used to convert energy into motion. Actuators are used in a wide range of applications, from opening and closing valves to control the movement of robotics. They play a critical role in automation, as they can be used to automate processes and reduce the need for human intervention.
Market Analysis
Actuators are used in various end-use industries such as automotive, aerospace, healthcare, energy and power, and industrial manufacturing. The growing demand for automation in these industries is driving the growth of the actuators market. The development of new technologies such as smart sensors, internet of things (IoT), and artificial intelligence (AI) is leading to the integration of these technologies with actuators. This integration is resulting in the development of advanced actuators that can be used in a wide range of applications. The increasing demand for electric vehicles is driving the growth of the market. Electric actuators are used in electric power steering, electric throttle control, and other applications in electric vehicles.
Key Company Profiles Listed in this Report Are:
The major key players are Rockwell Automation, Altra Industrial Motion, Moog, SMC, Curtis Wright (Exlar), ABB, and MISUMI & More.
Get a Sample Report of Actuators Market (Including with latest market analysis, table of contents, graphs, charts & figures) @ https://www.snsinsider.com/sample-request/1155
Impact of Recession on Actuators Market Growth
The impact of the recession on the actuators market has been significant, with demand declining across various industries. However, the long-term outlook for the market remains positive, driven by factors such as the trend toward automation and the focus on energy efficiency and sustainability. As the global economy continues to recover from the recession, it is likely that demand for actuators will also recover, leading to renewed growth in the market.
Key Regional Developments
Among the different regions of the world, North America has held the largest share of the global actuators market due to its established and growing automotive industry and aircraft manufacturing units. The region's dominant position can be attributed to the presence of established manufacturers and technological advancements in actuators. Moreover, the increasing demand for electric vehicles in the region has further driven the growth of the market as these vehicles require advanced actuators to control various systems such as brake, throttle, and steering.
Actuators Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 56.29 Billion |
| Market Size by 2030 | US$ 111.43 Billion |
| CAGR | CAGR of 8.91% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Actuators Market: Key Segmentation | • By Type (Linear Actuator and Rotary Actuator) • By Actuation (Electrical, Pneumatic, Hydraulic, Others) • By Application (Industrial Automation, Robotics, Vehicles, and Equipment) • By Vertical (Food & Beverage, Oil & Gas, Metals, Mining, and Machinery, Power Generation, Chemicals, Paper, and Plastics, Pharmaceutical & Healthcare, Automotive, Aerospace & Defense, Marine, Electronics & Electrical, Construction, Agriculture, Utilities, Household & Entertainment.) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Do you have any specific queries related to this research study?
Ask your query to our expert@ https://www.snsinsider.com/enquiry/1155
Key Takeaway from Actuators Market Study
- The rotary actuator segment is poised to dominate the market due to its versatility, reliability, precision, and suitability for various industries and applications. With the increasing demand for automation and energy-efficient solutions, the demand for rotary actuators is expected to continue to rise in the coming years.
- The industrial automation segment is a significant application of actuators and holds a high market share in the global market. With the increasing demand for robotics and intelligent manufacturing systems, as well as the need for energy-efficient solutions, the demand for actuators in the industrial automation segment is expected to continue to rise in the future.
Recent Developments Related to Actuators Market
- A belt-driven rival to traditional hydraulic actuators has recently won a US patent, showcasing the growing demand for more efficient and versatile industrial technologies. This innovative development is expected to provide a cost-effective solution to industrial automation needs, as belt-driven actuators offer greater precision, speed, and flexibility compared to their hydraulic counterparts.
- Curtiss-Wright, a leading industrial technology company, has recently been awarded a contract to provide advanced actuation technology to support Dynetics' Enduring Shield Ground program. The program is a cutting-edge initiative aimed at developing next-generation missile defense systems for the US Army. This contract represents a significant milestone for Curtiss-Wright, as it reinforces their position as a leading provider of advanced actuation solutions for aerospace and defense applications.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Actuators Market Segmentation, By Type
9. Actuators Market Segmentation, By Actuation
10. Actuators Market Segmentation, By Application
11. Actuators Market Segmentation, By Vertical
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion
Buy Single-User PDF of Actuators Market Report@ https://www.snsinsider.com/checkout/1155
[For more information or any customization mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Access Full Report Details@ https://www.snsinsider.com/reports/actuators-market-1155
