Electric Actuators Market 2024-2028
The electric actuators market is forecasted to grow by USD 4259.2 mn during 2023-2028, accelerating at a CAGR of 4.9% during the forecast period. The report on the electric actuators market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for commercial and defense aircraft, increasing use of electric actuators in industrial robots and automation, and growing demand for smart actuators.
Technavio's electric actuators market is segmented as below:
- By End-user
- Automotive
- Water and wastewater
- Marine
- Aerospace and defense
- Others
- By Type
- Rotary
- Linear
- By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the increased benefits of electric actuators over hydraulic or pneumatic actuators as one of the prime reasons driving the electric actuators market growth during the next few years. Also, growing use of electric actuators in smart homes and increasing demand for electric actuators from renewable energy plants will lead to sizable demand in the market.
The report on the electric actuators market covers the following areas:
- Electric actuators market sizing
- Electric actuators market forecast
- Electric actuators market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric actuators market vendors that include ABB Ltd., Actuonix Motion Devices Inc., AUMA Riester GmbH and Co. KG, Curtiss Wright Corp., Emerson Electric Co., Flowserve Corp., General Electric Co., HanKun Beijing Fluid Control Technology Co. Ltd., IMI Plc, LINAK AS, Moog Inc., Parker Hannifin Corp., Pon Holdings BV, Rotork Plc, Schaeffler AG, Siemens AG, SMC Corp., SNNA BEFK Union Tech Inc., Statewide Bearings, and TiMOTION Technology Co. Ltd.. Also, the electric actuators market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.