What is the global market size of Actuators Market?

Global Actuators Market size was valued at USD 53.9 billion in 2021 and is poised to grow from USD 58.32 billion in 2022 to USD 118.54 billion by 2030, growing at a CAGR of 8.2% in the forecast period (2023-2030).

Actuators Market Size, Share, Growth Analysis, By Type(Electric Actuator, Hydraulic Actuator), By End Use(Aerospace & Defense, Automotive) - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Actuators Market?

The Global Actuators Market is relatively fragmented, with a huge level of competition. Company that manufactures RotoPR equipment. It is a well-known producer with a broad range of products, particularly in the areas of electric, hydraulic, and pneumatic actuators. Curtiss-Wright Corporation, Eaton Corporation Inc., Rockwell Automation Inc., and SMC Corporation are additional significant market participants. The main strategy used by the players in this market is the development of new technologies to provide their clients a wider range of products. The marketplace for actuators is competitive 'Honeywell International Inc.', 'Siemens AG', 'Emerson Electric Co.', 'ABB Ltd.', 'Rockwell Automation, Inc.', 'SMC Corporation', 'Flowserve Corporation', 'Bosch Rexroth AG', 'Parker Hannifin Corporation', 'Rotork Plc', 'Curtiss-Wright Corporation', 'Moog Inc.', 'Schneider Electric SE', 'Mitsubishi Electric Corporation', 'Nook Industries, Inc.', 'Altra Industrial Motion Corp.', 'Festo AG & Co. KG', 'KSB SE & Co. KGaA', 'IMI plc', 'Linak A/S'

Report ID: SQMIG25A2150 | Region: Global | Published Date: July, 2036
Pages: 157 | Tables: 72 | Figures: 75

Actuators Market Regional Insights

In 2021, North America held the largest market share and dominated the market with market size of USD 12.87 billion.

Also, the Asia Pacific is expected to grow at the highest growth rate due to rapid industrialization and urbanization in this region. It has held a major share in terms of revenue in 2020, as there are major vehicle manufacturers and tier-1 suppliers, which include Robert Bosch GmbH and Continental AG who have advanced research and development facilities, which helps fuel the use of actuators. Also, there is consistent demand for the vehicle in this region. The growing production of vehicles in the region, as well as the availability of the necessary equipment affordable resources, is a contributing factor to the growth of the market in the region. The rapid increase in vehicle sales due to the growth of the company's disposable income has always been an important factor in the investments of major producers in the region. The increase in the number of vehicles on the road in Asia-Pacific, coupled with the profitability presence of manufacturers in the automotive sector, accelerates the market in the region.

Actuators Market Report Snapshots

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Actuators Market size was valued at USD 53.9 billion in 2019 and is poised to grow from USD 58.32 billion in 2023 to USD 118.54 billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).

The Actuators Market is relatively fragmented, with a huge level of competition. Company that manufactures RotoPR equipment. It is a well-known producer with a broad range of products, particularly in the areas of electric, hydraulic, and pneumatic actuators. Curtiss-Wright Corporation, Eaton Corporation Inc., Rockwell Automation Inc., and SMC Corporation are additional significant market participants. The main strategy used by the players in this market is the development of new technologies to provide their clients a wider range of products. The marketplace for actuators is competitive 'Honeywell International Inc.', 'Siemens AG', 'Emerson Electric Co.', 'ABB Ltd.', 'Rockwell Automation, Inc.', 'SMC Corporation', 'Flowserve Corporation', 'Bosch Rexroth AG', 'Parker Hannifin Corporation', 'Rotork Plc', 'Curtiss-Wright Corporation', 'Moog Inc.', 'Schneider Electric SE', 'Mitsubishi Electric Corporation', 'Nook Industries, Inc.', 'Altra Industrial Motion Corp.', 'Festo AG & Co. KG', 'KSB SE & Co. KGaA', 'IMI plc', 'Linak A/S'

Vehicle safety regulations and vehicle standards mandated by government & regulatory authorities are prompting automakers to install safety systems in their vehicles, thereby driving the actuator market across the globe.

In May 2020, AUMA launched the high-performance PROFOX actuator series with advanced features. With built-in intelligence, low operating cost, high medical efficiency, and compact design, which is suitable for various industries like, combined heat and power plants, process industries, shipbuilding and water treatment

In 2021, North America held the largest market share and dominated the market with market size of USD 12.87 billion.

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Actuators Market Size, Share, Growth Analysis, By Type(Electric Actuator, Hydraulic Actuator), By End Use(Aerospace & Defense, Automotive) - Industry Forecast 2024-2031

Actuators Market Regional Insights

Actuators Market Report Snapshots

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