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

Global 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).

Actuator is a device or machine that controls the movement and mechanism of a system. Actuators are used to achieve maximum precision, control the movement of a system, provide custom speeds, and reduce risk to workers. An actuator is a device used to conveniently generate mechanical energy from electrical energy. The machine used in electric motors, stepper motors or jacks can also be classified under actuators. The global actuators market includes new emerging players and established companies. Market players to strengthen their position in the market are rushing to find actuators that are more powerful and faster than conventional actuators. As there is rise in the demand for safety and comfort in vehicles it is anticipated to fill the demand of advanced system in vehicles.

Growing vehicle manufacturer preference toward vehicle safety is likely to increase the integration of advanced safety and comfort features in vehicles, which, in turn, is likely to increase an integration of actuators in vehicles

The manufacturing and medical device industries are the biggest users of actuators. In the same context, Emerson, world leader in the global actuators market has designed reliable and efficient pneumatic actuators for extreme environments and critical applications. Pneumatic actuators have high performance or safety. The most important aspects are the size and weight of the actuators. Many of these companies are inventing new and advanced actuators which are strengthening their position in the market, thereby propelling the global actuator market.

US Actuators Market is poised to grow at a sustainable CAGR for the next forecast year.