Global Actuator Market Overview And Statistics For 2024-2033

Actuator Global Market Research 2024-2033: Outlook and Overview

LONDON, GREATER LONDON, UNITED KINGDOM, October 1, 2024 /EINPresswire.com/ -- The actuator market has experienced robust growth in recent years, expanding from $54.79 billion in 2023 to $59.9 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to automation in manufacturing, industrialization, energy sector expansion, healthcare equipment demand, smart buildings and infrastructure.

What Is The Estimated Market Size Of The Global Actuator Market And Its Annual Growth Rate?
The actuator market is projected to continue its strong growth, reaching $85.15 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to renewable energy expansion, electrification of vehicles, precision medicine and biotechnology, urbanization and infrastructure development, focus on energy efficiency, rise of robotics and automation.

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Growth Driver of The Actuator Market
The growing building construction activities will support the growth of the actuator market. Building construction activities encompass the planning, erection, and assembly of structures, including residential, commercial, and industrial buildings, involving various processes such as excavation, foundation work, framing, and finishing. Actuators play a vital role in diverse construction applications, from automated ventilation and HVAC systems to precise control mechanisms in doors, windows, and building components. The expansion of building construction activities reflects a heightened need for advanced automation and control solutions, positioning the market to flourish as an integral component in the construction landscape.

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Which Market Players Are Driving The Actuator Market Growth?
Key players in the market include Emerson Electric Co., ABB Ltd., Rockwell Automation Inc., Moog Inc., SMC Corporation, Curtis Wright Corporation, Eaton Corporation PLC, Honeywell International Inc., Rotork PLC, Misumi Group Inc., Cameron International Corporation, Samson AG, Parker Hannifin Corporation, Venture MFG Co., Altra Industrial Motion, Actuonix Motion Devices Inc., Aptiv PLC, AUMA Riester Gmbh & Co. KG, BorgWarner Inc., Continental AG, Denso Corporation, Festo AG & Co. K.G., Flowserve Corporation, GEA Group AG, General Electric Company, Hitachi Ltd., IAV Automotive Engineering, Johnson Controls International PLC, KITZ Corporation, Mecvel Technologies Private Limited, Nidec Corporation, Regal Rexnord Corporation, Robert Bosch GmbH.

What Are The Key Trends That Influence Actuator Market Share Analysis?
Major companies operating in the market are focused on developing and launching advanced microcontroller sensors to offer enhanced security, rich connectivity, and functional safety capabilities and strengthen their position in the market. Advanced microcontroller sensors are highly sophisticated electronic devices integrated with microcontrollers to gather, process, and transmit data with precision, enabling enhanced functionalities in diverse applications such as IoT devices, robotics, and smart systems.

How Is The Global Actuator Market Segmented?
1) By Type: Pneumatic Actuators, Hydraulic Actuators, Electric Actuators, Mechanical Actuators
2) By Motion: Linear Actuator, Rotary Actuator
3) By End User: Automotive, Aerospace, Oil And Gas, Pharmaceutical, Power Generation, Food And Beverages, Chemicals, Mining, Other End Users

Geographical Insights: Asia-Pacific Leading The Actuator Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Actuator Market Definition
An actuator refers to a device that converts a control signal into mechanical action, such as driving an electric motor, to move or operate some machine. While actuators normally produce circular motion, they can also do so by using screws and wheel-and-axle systems to provide linear motion.

Actuator Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global actuator market report covering trends, opportunities, strategies, and more
The Actuator Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on actuator market size, actuator market drivers and trends, actuator market major players and actuator market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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