Actuators Market Growth Drivers Analysis and Forecast 2024

This research report segments the actuators market based on various criteria, offering estimations of market size and forecasts, and shedding light on key trends within each submarket. It identifies significant drivers, opportunities, and challenges shaping the dynamics of the actuators market. The report strategically profiles key market players, analyzing their core strengths within each segment of the actuators market. Recent market advancements and competitive strategies, including expansion initiatives, product launches, partnerships, mergers, and acquisitions, are incorporated to delineate the competitive landscape of the actuators market.

The global Actuators market, valued at USD 46,781.3 million in 2020, is anticipated to reach USD 90,482.2 million by 2028, with a CAGR of 8.6% during the forecast period from 2021 to 2028. The surge in demand for Actuators is attributed to their pivotal role in material handling, indoor temperature control, and the operation of automated devices across various industries.

Major Companies: ?Rockwell Automation, Moog Inc., Smc Corporation, Curtiss-Wright Corporation, IMI PLC, ABB Ltd., Altra Industrial Motion, Tolomatic Technologies, Venture Mfg Co, IAI, SKF, Harmonic Drive Llc, Nook Industries Inc., Kollmorgen Corp., Misumi Group Inc., Dvg Automation., Macron Dynamics., Rotomation Inc., Cedrat Technologies, Kinitics Automation

Market Drivers and Trends:

Industrial Applications: Actuators find widespread applications in diverse sectors including oil and gas, aerospace and defense, automotive, mining, and marine industries. The growing demand stems from their essential role in controlling and moving mechanisms, crucial for energy conversion in motors, valves, and pumps.

Automation Emphasis: Industries are increasingly automating operations to enhance safety, efficiency, and precision in production processes. This trend drives the adoption of Actuators, facilitating remote monitoring and control to optimize operations.

Technological Advancements: Electric linear actuators, integrated with robotics, offer precise motion control, force adjustment, and acceleration and deceleration rate control. Industries such as automotive, printing, and solar energy benefit from these advancements, boosting demand for Actuators.

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Segment Analysis:

Actuation Segment: Electric actuators dominate the market, valued at USD 19,360.8 million in 2020, projected to grow at a CAGR of 9.3% over the forecast period. The affordability and energy efficiency of electric actuators drive their widespread adoption.

Type Segment: Linear actuators hold the largest share, valued at USD 30,453.3 million in 2020, with a CAGR of 9.1%. Their precise motion control capabilities are vital for applications such as industrial machinery and computer peripherals.

Application Segment: Industrial automation leads the market, valued at USD 20,617.9 million in 2020, growing at a CAGR of 8.7%. High productivity demands in modern industrial production foster the adoption of Actuators. The robotics segment is expected to witness rapid growth with a CAGR of 9.3%.

Regional Outlook:

Asia Pacific dominates the global Actuators market, accounting for the largest share of 40.6% in 2019. The region is poised to maintain its leadership position, with a projected CAGR of 9.9% between 2020 and 2028. The development of smart cities in Asia Pacific drives the integration of sensors and Actuators to address emerging challenges.

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Key Findings and Developments:

The report highlights major global market trends, with country-specific analyses for up to 27 countries.

Leading market players include Rockwell Automation, Moog Inc., Smc Corporation, and Curtiss-Wright Corporation, among others.

Recent mergers and acquisitions underscore ongoing industry consolidation and strategic alliances aimed at enhancing product offerings and market presence.

Technological advancements continue to drive innovation in Actuators, with a focus on improving energy efficiency, precision, and reliability across industries.

This Report Unveils:

? Go to Market Strategy- A roadmap to successfully product launch or service in the target market.

? Gain a clear picture of the market's health and growth trajectory through neutral analysis.

? Deep Market Insights delve into development trends, competitor landscape, supply and demand dynamics, year-over-year growth patterns, and key players' performance. This comprehensive analysis will include a QMI quadrant to visualize competitor positioning.

? Upon request, we can provide customized reports focusing on specific regions or countries, offering a granular view of their markets.

? Identify high-potential niche segments and regions poised for significant expansion.

? Analysis of Market Size (historical and forecast) Total Addressable Market (TAM), Serviceable Available Market (SAM), and Serviceable Obtainable Market (SOM) to understand the market's overall size and your achievable market share.

? Gain a comprehensive understanding of the competitive landscape, including market share distribution, key players (innovators, startups, laggards, and pioneers), and their respective strengths and weaknesses.

Conclusion:

The Actuators market is on a robust growth trajectory, fueled by increasing automation, technological advancements, and the pursuit of operational efficiency. With Asia Pacific leading the charge, the future presents promising opportunities for stakeholders globally.

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