Actuators Market size was valued at USD 62.89 Bn in 2023 and is expected to reach at USD 108.7 Bn by 2031, and grow at a CAGR of 7.08 % over the forecast period 2024-2031.
The actuators market has been experiencing significant growth driven by the rising demand for automation across various industries such as automotive, aerospace, and healthcare. Actuators, which convert energy into motion, are critical components in systems that require precision and control. Technological advancements, such as the development of smart actuators with integrated sensors and IoT connectivity, have further fueled market expansion. The automotive sector, in particular, has seen substantial adoption of actuators in electric vehicles and advanced driver assistance systems (ADAS), contributing to the market's robust growth trajectory.
In addition to technological advancements, the shift toward sustainable and energy-efficient solutions is influencing the actuators market. Industries are increasingly adopting electric actuators due to their lower energy consumption and reduced environmental impact compared to hydraulic and pneumatic alternatives. Furthermore, the growing emphasis on renewable energy sources has boosted the demand for actuators in wind turbines and solar tracking systems. As industries continue to prioritize efficiency and sustainability, the actuators market is expected to witness steady growth, driven by innovations and the global push for greener technologies.
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Covid 19 impact analysis:
The latest report is the most recent study that offers coverage of the Actuators industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Actuators market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
Crane Co., Emerson (Pentair Valves), Flowserve Corporation, General Electric Company, Imi PLC, Kitz Corporation, Metso Oyj (Neles Oyj), Parker-Hannifin Corporation, Rotork PLC, Schlumberger Limited and other players.
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Actuators market.
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It has segmented the global Actuators market
On The Basis of Type
- Linear Actuator
- Rotary Actuator
On The Basis of Actuation
- Electrical
- Pneumatic
- Hydraulic
- Others
On The Basis of Application
- Industrial automation
- Robotics
- Vehicles and Equipment
Key Objectives of the Global Actuators Market Report:
- The report conducts a comparative assessment of the leading market players participating in the global Actuators
- The report marks the notable developments that have recently taken place in the Actuators industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Actuators market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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