PUBLISHER: IMARC | PRODUCT CODE: 1308499
PUBLISHER: IMARC | PRODUCT CODE: 1308499
Actuators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global actuators market size reached US$ 41.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 63.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028.
An actuator is a mechanical component that assists in converting energy into motion and controls machinery equipment and systems. The device usually works on hydraulic and pneumatic forces and can be operated manually, electronically or through a software program. Actuators move in linear and rotary motions. The linear motion converts energy for positioning other equipment and subsequently perform push and pull function. On the other hand, rotary motion provides movement to various ball and butterfly valves. Actuators are most commonly used in the form of electric motors, solenoids, hard drive stepper motors and comb drivers and find extensive applications across various sectors like oil and gas, power generation, chemicals, food & beverages, metals & mining, automotive, aerospace, etc.
Actuators Market Trends:
Rapid industrialization is one of the key factors driving the growth of the market. Furthermore, technological advancements in the automotive industry, such as the introduction of Advanced Driver Assistance Systems (ADAS) have significantly enhanced the utilization of actuators. The rising trend of automation across various industries is another major growth-inducing factor. The implementation of the Internet of Things (IoT) has facilitated automation of actuators for enhanced productivity and reduced downtime in the industrial and manufacturing units. They provide high precision and control, along with reduced noise creation and fuel leakages. Moreover, an increasing number of aircraft carriers are being equipped with actuators on each wing to maintain efficient flight at low airspeeds, thereby driving the product demand. Other factors, including product innovations such as the development of actuators with low carbon emissions and extensive research and development (R&D), are also augmenting the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global actuators market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product, type and end use industry.
Breakup by Product:
Linear Actuators
Rod Type
Screw Type
Belt Type
Rotary Actuators
Motors
Bladder and Vane
Piston Type
Breakup by Type:
Electric
Pneumatic
Hydraulic
Mechanical
Others
Breakup by End Use Industry:
Oil and Gas
Power Generation
Chemicals
Food and Beverages
Metals and Mining
Automotive
Aerospace and Defense
Others
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Rockwell Automation, Moog Inc., Emerson Electric, ABB, SMC Corporation, IMI PLC, Flowserve, Altra Industrial Motion, Cedrat Technologies, DVG Automation, Festo, MISUMI Group Inc., Harmonic Drive LLC, Kinitics Automation, Venture Mfg. Co., etc.
IMARC Group's latest report provides a deep insight into the global actuators market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the actuators market in any manner.
Key Questions Answered in This Report
- 1. What was the size of the global actuators market in 2022?
- 2. What is the expected growth rate of the global actuators market during 2023-2028?
- 3. What has been the impact of COVID-19 on the global actuators market?
- 4. What are the key factors driving the global actuators market?
- 5. What is the breakup of the global actuators market based on the product?
- 6. What is the breakup of the global actuators market based on the type?
- 7. What is the breakup of the global actuators market based on the end use industry?
- 8. What are the key regions in the global actuators market?
- 9. Who are the key players/companies in the global actuators market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Actuators Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Product
- 5.5 Market Breakup by Type
- 5.6 Market Breakup by End Use Industry
- 5.7 Market Breakup by Region
- 5.8 Market Forecast
6 Market Breakup by Product
- 6.1 Linear Actuators
- 6.1.1 Market Trends
- 6.1.2 Major Types
- 6.1.2.1 Rod Type
- 6.1.2.2 Screw Type
- 6.1.2.3 Belt Type
- 6.1.3 Market Forecast
- 6.2 Rotary Actuators
- 6.2.1 Market Trends
- 6.2.2 Major Types
- 6.2.2.1 Motors
- 6.2.2.2 Bladder and Vane
- 6.2.2.3 Piston Type
- 6.2.3 Market Forecast
7 Market Breakup by Type
- 7.1 Electric
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Pneumatic
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Hydraulic
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Mechanical
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by End Use Industry
- 8.1 Oil and Gas
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Power Generation
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Chemicals
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Food and Beverages
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Metals and Mining
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Automotive
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 8.7 Aerospace and Defense
- 8.7.1 Market Trends
- 8.7.2 Market Forecast
- 8.8 Others
- 8.8.1 Market Trends
- 8.8.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Europe
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Asia Pacific
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Middle East and Africa
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Latin America
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porter's Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Rockwell Automation
- 14.3.2 Moog Inc
- 14.3.3 Emerson Electric
- 14.3.4 ABB
- 14.3.5 SMC Corporation
- 14.3.6 IMI PLC
- 14.3.7 Flowserve
- 14.3.8 Altra Industrial Motion
- 14.3.9 Cedrat Technologies
- 14.3.10 DVG Automation
- 14.3.11 Festo
- 14.3.12 MISUMI Group Inc
- 14.3.13 Harmonic Drive LLC
- 14.3.14 Kinitics Automation
- 14.3.15 Venture Mfg. Co
List of Figures
- Figure 1: Global: Actuators Market: Major Drivers and Challenges
- Figure 2: Global: Actuators Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Actuators Market: Breakup by Product (in %), 2022
- Figure 4: Global: Actuators Market: Breakup by Type (in %), 2022
- Figure 5: Global: Actuators Market: Breakup by End Use Industry (in %), 2022
- Figure 6: Global: Actuators Market: Breakup by Region (in %), 2022
- Figure 7: Global: Actuators Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 8: Global: Actuators Industry: SWOT Analysis
- Figure 9: Global: Actuators Industry: Value Chain Analysis
- Figure 10: Global: Actuators Industry: Porter's Five Forces Analysis
- Figure 11: Global: Actuators (Linear Actuators) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 12: Global: Actuators (Linear Actuators) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 13: Global: Actuators (Rotary Actuators) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 14: Global: Actuators (Rotary Actuators) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 15: Global: Actuators (Electric) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 16: Global: Actuators (Electric) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 17: Global: Actuators (Pneumatic) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 18: Global: Actuators (Pneumatic) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 19: Global: Actuators (Hydraulic) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 20: Global: Actuators (Hydraulic) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 21: Global: Actuators (Mechanical) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 22: Global: Actuators (Mechanical) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 23: Global: Actuators (Other Types) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 24: Global: Actuators (Other Types) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 25: Global: Actuators (Oil and Gas) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 26: Global: Actuators (Oil and Gas) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 27: Global: Actuators (Power Generation) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 28: Global: Actuators (Power Generation) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 29: Global: Actuators (Chemicals) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 30: Global: Actuators (Chemicals) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 31: Global: Actuators (Food and Beverages) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 32: Global: Actuators (Food and Beverages) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 33: Global: Actuators (Metals and Mining) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 34: Global: Actuators (Metals and Mining) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 35: Global: Actuators (Automotive) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 36: Global: Actuators (Automotive) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 37: Global: Actuators (Aerospace and Defense) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 38: Global: Actuators (Aerospace and Defense) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 39: Global: Actuators (Other End Use Industries) Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 40: Global: Actuators (Other End Use Industries) Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 41: North America: Actuators Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 42: North America: Actuators Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 43: Europe: Actuators Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 44: Europe: Actuators Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 45: Asia Pacific: Actuators Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 46: Asia Pacific: Actuators Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 47: Middle East and Africa: Actuators Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 48: Middle East and Africa: Actuators Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 49: Latin America: Actuators Market: Sales Value (in Billion US$), 2017 & 2022
- Figure 50: Latin America: Actuators Market Forecast: Sales Value (in Billion US$), 2023-2028
List of Tables
- Table 1: Global: Actuators Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Actuators Market Forecast: Breakup by Product (in Billion US$), 2023-2028
- Table 3: Global: Actuators Market Forecast: Breakup by Type (in Billion US$), 2023-2028
- Table 4: Global: Actuators Market Forecast: Breakup by End Use Industry (in Billion US$), 2023-2028
- Table 5: Global: Actuators Market Forecast: Breakup by Region (in Billion US$), 2023-2028
- Table 6: Global: Actuators Market Structure
- Table 7: Global: Actuators Market: Key Players
