Actuators Market by System (Electric Actuator, Hydraulic Actuator, Mechanical Actuator), Types (Linear Actuators, Rotary Actuators), Application, End-User - Global Forecast 2024-2030
The Actuators Market size was estimated at USD 64.68 billion in 2023 and expected to reach USD 70.71 billion in 2024, at a CAGR 9.59% to reach USD 122.83 billion by 2030.
Actuators are devices that convert an input energy form into motion. They are critical components in various systems, functioning as the means to turn a control signal into physical action. The actuators' role spans across many industries, including aerospace, automotive, manufacturing, and robotics. They play a key role in automation, allowing precise control over movement and positioning in equipment such as robotic arms, valves, and pumps. Their applications range from simple tasks such as opening a valve to complex movements required in robotics. IoT and smart technology innovations have expanded actuator applications across automotive, aerospace, and construction. Government and international emissions and energy consumption regulations have increased the demand for more efficient actuators. Moreover, with urbanization and Infrastructure developments, investment in public works and infrastructure necessitates more complex automation solutions using actuators. However, high initial investment in advanced actuators' design and manufacturing process impedes market growth. Nevertheless, trends towards smaller devices spur opportunities for developing compact actuators in consumer electronics and medical devices. Furthermore, researching new, durable, and efficient materials could lead to significant advancements.
Regional Insights
The actuator market depicts strong growth across the Americas owing to high automation levels in manufacturing, the presence of key industry players, and substantial investments in R&D. Furthermore, consumer needs center around energy-efficient solutions, precision in control and operation, and integration with the Internet of Things (IoT) has further bolstered the market growth. Many EU Countries have focused on the advanced industrial sector for innovation with stringent energy regulations in the EU region. EU countries prioritize sustainability, leading to an uptick in demand for electric actuators. Moreover, the European Commission's initiatives on digitalization and automation present further growth opportunities. The actuators market in the Asia-Pacific region is a vibrant and dynamically evolving market characterized by rapid technological progress and various applications spanning various sectors. As of the latest evaluation, this region stands as one of the most promising markets for actuators globally, attributed to the burgeoning industrialization, growing automation across manufacturing sectors, and increased emphasis on infrastructure development.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Actuators Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Rising investments in process automation and automated manufacturing processes
- Growing deployment of actuators in automotive sector for braking and controlling vehicle performance
- Expansion of renewable energy projects and adoption of actuators to lower emissions
- Market Restraints
- Complexities in the manufacturing of actuators and the need for frequent maintenance
- Market Opportunities
- Significant investments and initiatives for smart cities
- Ongoing advancements in actuator technologies with emergence of customized actuators
- Market Challenges
- Issues related to power consumption, noise, and leaks
- Market Segmentation Analysis
- System: Suitability of mechanical actuators for their robustness and reliability
- Type: Preferences for linear actuators owing to precise linear displacement
- Application: Expansion usage and deployment of robotics across the world driving adoption of actuators
- End-User: Utilization of actuators in manufacturing industries to enable precise operations
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Actuators Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Actuators Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Pioneer Industrial Announces Selection of MEA Inc. as Vendor Partner for Actuator and Control Systems
MEA Inc. collaborated with Pioneer Industrial to provide advanced electro-hydraulic actuators and control systems to provide superior products and unsurpassed services to an esteemed clientele. MEA Inc.'s devotion to excellence, its commitment to groundbreaking innovation, and its focus on customer fulfillment echo principles, ensuring a synergetic relationship poised to set industry benchmarks and exceed customer expectations.
ADVICS Expands Product Lines with Launch of New Electric Parking Brake (EPB) Actuator Kits
ADVICS is expanding its business in the aftermarket domain through its latest addition of EPB actuator kits, designed to seamlessly integrate with a vehicle's caliper system and automate the parking brake engagement. ADVICS's new EPB actuator kits are crafted with precision in Japan as original equipment (OE) production parts, imbuing aftermarket solutions with OEM quality.
Timken Expands Linear Motion Offerings with Rosa Sistemi Acquisition
The Timken Company successfully acquired Spinea s.r.o., esteemed as a trailblazer in European markets for its advanced cycloidal reduction gears and actuators. This strategic move broadens Timken's extensive product portfolio and bolsters its competitive edge by adding Spinea's sophisticated technology, renowned for precision and reliability in critical applications, to its offering. The acquisition promises to enhance the company's capability to serve various industries with high-performance power transmission products.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Actuators Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Actuators Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Actuonix Motion Devices Inc., AUMA Riester GmbH & Co. KG, Bray International, Inc., CKD Corporation, Curtiss-Wright Corporation, Eaton Corporation PLC, Emerson Electric Co., Festo AG & Co. KG, General Electric Company, Honeywell International Inc., KITZ Corporation, MISUMI Group Inc., Mitsubishi Electric Corporation, Moog Inc., Murata Manufacturing Co., Ltd., Omron Corporation, Parker Hannifin Corporation, PHD Inc., Regal Rexnord Corporation, Robert Bosch GmbH, Rockwell Automation, Inc., Rotork PLC, SAMSON AG, Schaeffler AG, Schlumberger Limited, Schneider Electric SE, Siemens AG, SMC Corporation, STMicroelectronics N.V., THK Co., Ltd., Tolomatic, Inc., Valtorc International, Valworx, Inc., and ZIMM GmbH.
Market Segmentation & Coverage
This research report categorizes the Actuators Market to forecast the revenues and analyze trends in each of the following sub-markets:- System
- Electric Actuator
- Hydraulic Actuator
- Mechanical Actuator
- Pneumatic Actuator
- Types
- Linear Actuators
- Rotary Actuators
- Application
- Industrial Automation
- Robotics
- Vehicles & Equipment
- End-User
- Aerospace & Defense
- Automotive
- Energy & Utilities
- Healthcare
- Manufacturing
- Marine
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Rising investments in process automation and automated manufacturing processes
- 5.1.1.2. Growing deployment of actuators in automotive sector for braking and controlling vehicle performance
- 5.1.1.3. Expansion of renewable energy projects and adoption of actuators to lower emissions
- 5.1.2. Restraints
- 5.1.2.1. Complexities in the manufacturing of actuators and the need for frequent maintenance
- 5.1.3. Opportunities
- 5.1.3.1. Significant investments and initiatives for smart cities
- 5.1.3.2. Ongoing advancements in actuator technologies with emergence of customized actuators
- 5.1.4. Challenges
- 5.1.4.1. Issues related to power consumption, noise, and leaks
- 5.2. Market Segmentation Analysis
- 5.2.1. System: Suitability of mechanical actuators for their robustness and reliability
- 5.2.2. Type: Preferences for linear actuators owing to precise linear displacement
- 5.2.3. Application: Expansion usage and deployment of robotics across the world driving adoption of actuators
- 5.2.4. End-User: Utilization of actuators in manufacturing industries to enable precise operations
- 5.3. Market Trend Analysis
- 5.3.1. Strong presence of market vendors and robust demand of actuators owing to surging demand from end-use industries in Americas
- 5.3.2. Extensive demand of actuators in automation & robotics and renewable energy sector in the APAC region
- 5.3.3. Expansion of industrial automation and smart factory establishment incentivizing market players to launch advanced actuators in EMEA
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Actuators Market, by System
- 6.1. Introduction
- 6.2. Electric Actuator
- 6.3. Hydraulic Actuator
- 6.4. Mechanical Actuator
- 6.5. Pneumatic Actuator
- 7. Actuators Market, by Types
- 7.1. Introduction
- 7.2. Linear Actuators
- 7.3. Rotary Actuators
- 8. Actuators Market, by Application
- 8.1. Introduction
- 8.2. Industrial Automation
- 8.3. Robotics
- 8.4. Vehicles & Equipment
- 9. Actuators Market, by End-User
- 9.1. Introduction
- 9.2. Aerospace & Defense
- 9.3. Automotive
- 9.4. Energy & Utilities
- 9.5. Healthcare
- 9.6. Manufacturing
- 9.7. Marine
- 10. Americas Actuators Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Actuators Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Actuators Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Pioneer Industrial Announces Selection of MEA Inc. as Vendor Partner for Actuator and Control Systems
- 13.3.2. ADVICS Expands Product Lines with Launch of New Electric Parking Brake (EPB) Actuator Kits
- 13.3.3. Timken Expands Linear Motion Offerings with Rosa Sistemi Acquisition
- 13.3.4. Marelli Presents New Smart Actuators for Transmission and Thermal Management in Electric Vehicles
- 13.3.5. KSB Launches New Pneumatic Quarter-Turn Actuators
- 13.3.6. Safran To Acquire Collins’ Actuation Business
- 13.3.7. Supernal Partners with UMBRAGROUP on New Light-weight Actuation Technology for eVTOL Vehicles
- 13.3.8. Nidec Drive Technology Launches Ultra-flat Actuators with Precision Control Reducer FLEXWAVE
- 13.3.9. Ewellix Launches New Electric Actuators for Mobile Applications at Conexpo
- 13.3.10. Faulhaber Launches Compact Linear Actuator for Medical
- 13.3.11. Curtiss-Wright Awarded Contract to Provide Actuation Technology Supporting Dynetics’ Enduring Shield Ground-Based Launcher System for the U.S. Army
- 13.3.12. PRECISION launches Two Radically Innovative Actuators
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
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