What is the global market size of Actuators Market?

Actuators Market size was valued at USD 59.13 billion in 2022 and is poised to grow from USD 63.27 billion in 2023 to USD 108.71 billion by 2031, growing at a CAGR of 7.0% in the forecast period (2024-2031).

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'

What is the key driver of Global Actuators Market?

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.

What is the key market trend for Global Actuators Market?

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.

Which region accounted for the largest share in Global Actuators Market?

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

Actuators Market Trends

Skyquest Technology's expert advisors have carried out comprehensive research on the actuators market to identify the major global and regional market trends and growth opportunities for leading players and new entrants in this market. The analysis is based on in-depth primary and secondary research to understand the major market drivers and restraints shaping the future development and growth of the industry.

Actuators Market Dynamics

Actuators Market Drivers

Industrial Automation is Being Used by an Increasing Number of Industries

Actuators are being used more frequently as a result of the increased demand for industrial automation, particularly in the automotive, manufacturing, and electronics industries. Actuators and smart sensors are being used by an increasing number of businesses to automate repetitive tasks, increase operational efficiency, and reduce human error. The need for precise motion control components has increased due to the shift to Industry 4.0 and the growth of automated assembly lines, particularly in developing nations.

Rising Number of Applications in Aerospace and Defense

As actuators enable the operation of landing gear, armament systems, flight controls, and control surfaces, they are crucial to contemporary military and aerospace technology. Adoption of these technologies is accelerating due to the need for small, light, and energy-efficient actuators in space systems and UAVs, as well as an increase in the global defense budget. Innovation in actuators has increased demand in both the public and private sectors. This has aided in the development of space robots, electric aircraft, and autonomous drones.

Actuators Market Restraints

Difficult and Expensive Integration

Advanced actuators frequently require precise engineering, robust materials, and intricate control systems, particularly those found in robots, automobiles, and aircraft. These factors result in significant upfront costs. Since actuators are technically complex and frequently require redesign to work with existing machinery or control networks, small and mid-sized businesses with limited funding may also be less likely to use them.

Problems with Upkeep and Malfunctions

Actuators are mechanical components that can malfunction due to wear and tear, fluid leaks (in hydraulic types), or electrical issues. These kinds of issues could result in downtime or safety concerns for mission-critical applications. To guarantee long-term dependability, routine maintenance is frequently required. Use may be restricted by these maintenance issues and the possibility of unforeseen malfunctions, particularly in locations where flawless operation is required at all times.

Actuators Market Report Snapshots

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FAQs

Global Actuators Market size was valued at USD 49.83 Billion in 2023 and is poised to grow from USD 53.07 Billion in 2024 to USD 87.83 Billion by 2032, growing at a CAGR of 6.5% during the forecast period (2025-2032).

Companies are using tactics like developing new products, purchasing other businesses, and relocating in the fragmented actuators market. Large companies are concentrating on intelligent and energy-efficient actuator solutions for the automation, aerospace, and medical sectors. Two key actuators market strategies are collaborating with other businesses and integrating digitally (AI, IoT). New technologies in soft robotics and electroactive polymers are being developed by startups, which accelerate research and development for established companies and facilitate product customization for consumers. 'Rotork plc', 'SMC Corporation', 'Emerson Electric Co.', 'Honeywell International Inc.', 'ABB Ltd.', 'Parker Hannifin Corporation', 'Festo AG & Co. KG', 'Moog Inc.', 'Rockwell Automation, Inc.', 'AUMA Riester GmbH & Co. KG', 'Johnson Electric Holdings Limited', 'Curtiss-Wright Corporation', 'Allied Motion Technologies Inc.', 'Tolomatic, Inc.', 'MISUMI Group Inc.'

Actuators are being used more frequently as a result of the increased demand for industrial automation, particularly in the automotive, manufacturing, and electronics industries. Actuators and smart sensors are being used by an increasing number of businesses to automate repetitive tasks, increase operational efficiency, and reduce human error. The need for precise motion control components has increased due to the shift to Industry 4.0 and the growth of automated assembly lines, particularly in developing nations.

IoT and AI Integration for Intelligent Actuators: One of the key trends driving the growth of the global actuators industry is the integration of IoT and AI. In order to perform self-monitoring, diagnostics, and predictive maintenance, actuators are increasingly being connected to sensors, artificial intelligence algorithms, and Internet of Things platforms. By altering their operation in response to input from neighboring systems, smart actuators can reduce the likelihood of failure and increase the energy efficiency of systems. This trend is rapidly expanding in the fields of industrial automation, HVAC, and smart agriculture. In these domains, remote control and real-time performance insights are critical.

How are Infrastructure and Defense Shaping Actuator Demand in North America?

Actuators Market Trends

Actuators Market Dynamics

Actuators Market Drivers

Actuators Market Restraints

Actuators Market Report Snapshots

FAQs

What is the global market size of Actuators Market?

Who are the key vendors in the Actuators Market?

What is the key driver of Actuators Market?

What is the key market trend for Actuators Market?

Which region accounted for the largest share in Actuators Market?

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