Actuators Market Forecasts to 2028 – Global Analysis By Type (Rotatry Actuator and Linear Actuator), Actuation (Hydraulic, Pneumatic, Electrical and Other Actuations, Application (Industrial Automation, Vehicles & Equipment and Robotics), End User and By

Actuators Market Forecasts to 2028 – Global Analysis By Type (Rotatry Actuator and Linear Actuator), Actuation (Hydraulic, Pneumatic, Electrical and Other Actuations, Application (Industrial Automation, Vehicles & Equipment and Robotics), End User and By Geography

According tStratistics MRC, the Global Actuators Market is accounted for $47.46 billion in 2022 and is expected treach $104.46 billion by 2028 growing at a CAGR of 14.05% during the forecast period. An actuator is a component of a device or machine that turns energy intmechanical force tallow it texecute physical movements. Simply described, it is the component of a machine that lets it tmove. The equipment is frequently powered by hydraulic and pneumatic forces and can be controlled manually, electrically, or through software. Actuators are critical components in the operation of such automated equipment. They alsaid in the regulation of the system's motion, ensuring a smooth and uncomplicated operation. With rising need for automation and enhanced productivity and efficiency of various industrial processes, there has alsbeen a growth in demand for actuator systems.

According tthe World Robotics 2020 report, industrial robots are mostly used in five countries which are Japan, China, U.S., Germany, and the Republic of Korea. These five countries nearly contributed t73% of global robot installations.

Market Dynamics:

Driver:

Growing industrial automation

The automation movement has accelerated due tadvancements in robotics, artificial intelligence, and machine learning. An actuator is a critical component in all actuation systems that aids in the automation of numerous systems and processes in the automotive, manufacturing, agriculture, food, transportation, and medical industries. The rise in industrial automation is expected tboost market expansion over the forecast period. Another reason for the rise in industrial automation is the growing population and industrial automation is the world's expanding population. The need tmeet the demands of an expanding population compelled manufacturers tautomate the process that aids in product mass-production.

Restraint:

High installation & maintenance costs

The installation of hydraulic actuators is difficult due tthe fluids present in them. As a result, installation expenses are significant, especially when installing for large manufacturing lines. This is projected tslow the market's growth. Furthermore, hydraulic actuation systems use a fluid medium such as oil or water tprovide the desired output, whereas pneumatic actuation systems use air. Oil or water leakage damages and reduces the effectiveness of this product, as well as raising maintenance costs, hampered the market.

Opportunity:

Increasing commercial aircraft deliveries

Actuators are utilised in a variety of aircraft applications such as landing gear, flight controls, seats, doors, and son. As a result, the increase in new aircraft production will drive demand in the future years. Significant economic expansion in emerging economies such as India, Africa, and China, as well as other industrialised countries, has raised demand for air travel in recent years. Because of the increase in air passenger volume, airlines must increase their aircraft fleet. Increased demand has resulted in a rise in commercial aircraft deliveries, which is expected tpropel market expansion.

Threat:

Issues of leakage in pneumatic and hydraulic actuators

There are concerns with the many actuators used in a range of applications. In the case of hydraulic linear actuators, efficiency is impeded by fluid leakage, which causes cleaning difficulties. Pumps, fluid reservoirs, motors, release valves, and other components must alsbe monitored and maintained on a regular basis. Additionally, pneumatic actuators necessitate proportional-sized valves, compressors, and regulators for various functions, increasing complexity and cost. As a result, major damage reasons such as continuous seal wear, wrong assembly or maintenance, dangers connected with steam valves, reduced control quality, and others impede the actuators market share's growth.

Covid-19 Impact

The COVID-19 pandemic has had a severe impact on the automation industry. Due tthe nationwide lockout, large corporations are experiencing significant losses. Prior tthe epidemic, investments in the automation sector were modest, and they are now expected tbe postponed or halted for over a year. Governments around the world have priority their aerospace, defence, and automotive industry expenditure tthe healthcare business in order tconstruct the necessary infrastructure facilities tcombat COVID-19 spread. This has significantly impacted market growth. This has had a significant impact on the installation of innovative machines and equipment in the manufacturing industry. This has had a further impact on actuator demand in the manufacturing industry in recent years.

The linear actuator segment is expected tbe the largest during the forecast period

The linear actuator segment is estimated thave a lucrative growth, due tincreased industrial automation in the manufacturing units of automotive, aerospace, and other industries. Furthermore, the attention of leading companies on technological advances in linear actuators is projected tdrive market expansion. A linear actuator converts a motor's spinning motion inta straight motion. While linear actuators move in a straight line, electric motors typically move in a circle. The device's push and pull capabilities allow it tslide, tilt, and lift anything with the simple push of a button.

The electric actuators segment is expected thave the highest CAGR during the forecast period

The electric actuators segment is anticipated twitness the fastest CAGR growth during the forecast period because electric actuators enable higher efficiency and low power consumption, they are in high demand. Electric actuators are used extensively in automobile applications due ttheir high speed. They provide improved control and acceleration at high speeds. The force required tcreate thrust can be programmed without the use of compressed air or the related infrastructure, and these actuators consume relatively little energy overall.

Region with highest share:

Asia Pacific is projected thold the largest market share during the forecast because of the region's growing development and urbanisation. Countries such as Japan and China are known for their industrial prowess and are investing in automation timprove their production and manufacturing skills. This region has always been a significant manufacturing hub, and the industry has been an early adopter of the Internet of Things (IoT). The Asia Pacific region's industries are constantly growing their capacity, necessitating the utilisation of machinery furnished with cutting-edge actuators.

Region with highest CAGR:

North America is projected thave the highest CAGR over the forecast period. The existence of a well-established and increasing automotive industry and aircraft manufacturing units in the region is attributed tthe region's growth. Because of the increasing use of automation and electric actuation techniques by multiple important actors and end-users in the field, North America is now the world's second-dominant region. Furthermore, North America, specifically the United States, is seeing a semiconductor emergence, which is anticipated tbe fueling demand for the goods.

Key players in the market

Some of the key players profiled in the Actuators Market include IMI Critical Engineering, Moog Inc., Tolomatic, Inc., Rockwell Automation, Inc., SMC Corporation of America, Venture MFG. Co., Curtiss-Wright, ABB Ltd., Emerson Electric Co., Siemens AG, Rotork Plc, FIRGELLI Automation Inc., Flowserve Corporation and General Electric Company

Key Developments:

In January 2021, The actuation division of Curtiss-Wright Corporation launched its new ASSIGN™ motor program for Exlar FTP and FTX Series actuators. The FTP and FTX series actuator are ideal for a wide range of factory automation applications.

In December 2021, Rotork PLC. signed a contract with MilanSan RoccWastewater Treatment Plant (WWTP) tprovide Rotork IQ electric modulating actuators.

Types Covered:
• Rotatry Actuator
• Linear Actuator

Actuations Covered:
• Hydraulic
• Pneumatic
• Electrical
• Other Actuations

Applications Covered:
• Industrial Automation
• Vehicles & Equipment
• Robotics

End Users Covered:
• Food & Beverages
• Power Generation
• Marine
• Oil & Gas
• Chemicals
• Construction
• Aerospace & Defense
• Pharmaceutical & Healthcare
• Mining
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements