Actuators Market Insights

Actuators Market is expected to grow from USD 53.7 Billion in 2021 to USD 93.61 Billion by 2028 at a CAGR of 8.21% during the forecast period of 2022-2028.

Increased investment towards process automation across end-use industries is the major factor driving the demand for actuators.  

Market Share Analysis

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Actuators Market Share: By Type

Based on the type, the market is segmented as linear actuators, and rotary actuators. The linear actuators segment is expected to dominate the market during the forecast period. The escalating demand for fuel-efficient vehicles, implementation of stringent environmental regulation, increasing automation in emerging economies, and the rising need to improve combustion control, increase reliability, and reduce production cost in manufacturing sectors are some of the major factors that drive the growth of linear actuators in the global market.

Actuators Market Share: By System Type

Based on the system type, the market is segmented as hydraulic, electrical, pneumatic, mechanical, and other actuators. The electrical actuators dominated the market and is expected to retain the dominance during the forecast period as well. This growth is attributed to the extensive application of electrical actuators in the aviation industry. Electrical actuators play a vital role in controlling systems as they convert electrical signals to mechanical movement.

Actuators Market Share: By Application Type

Based on the application type, the actuators market is segmented as end-use and industrial application. The end-use application segment is projected to register a higher growth in the coming five years. End-use application includes wide array of verticals such as automotive, marine, aerospace, and defense. Growth in this industry verticals is expected to drive the growth of the end-use application.

Actuators Market Share: By Region  

In terms of regions, Asia-Pacific dominated the actuators market. The region is estimated to drive the Internet of Things in the coming years. India and China are the growth engines of the region owing to increased focus towards IOT.

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Some of the actuator manufacturers are-

• The Emerson Electric Company
• Honeywell International Inc.
• Moog Inc.
• Rotork Plc
• Parker Hannifin Corporation
• ABB Group
• Cameron International Corporation
• Eaton Corporation Plc.

Market Scope & Segmentation

Actuators are an eminent part of any machine that on which the movement of the machine depends. It is also responsible for the controlling of a mechanism or a system, such as opening a valve. The actuator is also known as a mover and it needs an energy source and a control signal for its working.

The actuator does the work of converting energy into motion and is used in industrial and manufacturing applications and also in various devices such as valves, pumps, switches, and motors.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The actuators market is segmented into the following categories. 

Actuators Market Size, Share & Forecast, by Type:

• Linear Actuators
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Product Type Analysis: Screw Type Actuators, Belt Type Actuators, and Rod Type Actuators)
• Rotary Actuators
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Product Type Analysis: Bladder & Vane Actuators and Piston Type Actuators)

Actuators Market Size, Share & Forecast, by System Type:

• Hydraulic Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Pneumatic Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Mechanical Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Actuators Market Size, Share & Forecast, by Application Type:

• End-Use Application
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: Automotive, Aerospace, Defense, and Marine)
• Industrial Application (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: Oil & Gas, Power Generation, Chemical, Food & Beverages, Metals & Mining, Construction, Healthcare, Pulp & Paper, Water Treatment, and Others) 

Actuators Market Size, Share & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the system types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.