Actuator Global Market Report 2024

“Actuator Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on actuator market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for actuator? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The actuator market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Pneumatic Actuators; Hydraulic Actuators; Electric Actuators; Mechanical Actuators
• 2) By Motion: Linear Actuator; Rotary Actuator
• 3) By End User: Automotive; Aerospace; Oil And Gas; Pharmaceutical; Power Generation; Food And Beverages; Chemicals; Mining; Other End Users
• Companies Mentioned: Emerson Electric Co.; ABB Ltd.; Rockwell Automation Inc.; Moog Inc.; SMC Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

An actuator is a device designed to transform a control signal into mechanical action, typically by driving an electric motor, facilitating the movement or operation of machinery. While actuators traditionally generate circular motion, they can also achieve linear motion through mechanisms such as screws and wheel-and-axle systems.

There are several prominent types of actuators, including pneumatic actuators, hydraulic actuators, electric actuators, and mechanical actuators. Pneumatic actuators, for instance, are mechanical devices converting energy into mechanical motion and find application in various automotive settings such as engine control, transmission control, and braking systems. These actuators offer different motion types, such as linear actuators and rotary actuators, catering to diverse end-user industries such as automotive, aerospace, oil and gas, pharmaceuticals, power generation, food and beverage, chemicals, mining, among others.

The actuator market research report is one of a series of new reports from The Business Research Company that provides actuator market statistics, including actuator industry global market size, regional shares, competitors with a actuator market share, detailed actuator market segments, market trends and opportunities, and any further data you may need to thrive in the actuator industry. This actuator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The actuator market size has grown strongly in recent years. It will grow from $54.79 billion in 2023 to $59.9 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth observed during the historical period can be attributed to several factors, including the increased adoption of automation in manufacturing processes, the expansion of industrialization, the growth of the energy sector, rising demand for healthcare equipment, and the development of smart buildings and infrastructure. These trends collectively contributed to the overall expansion and advancement in various sectors during that timeframe.

The actuator market size is expected to see strong growth in the next few years. It will grow to $85.15 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The anticipated growth in the forecast period can be attributed to several key drivers, including the expansion of renewable energy sources, the increasing electrification of vehicles, advancements in precision medicine and biotechnology, ongoing urbanization and infrastructure development, a heightened focus on energy efficiency, and the rising prominence of robotics and automation. Notable trends expected in the forecast period encompass the surge in electric actuators, advancements in smart actuators, the widespread integration of Industrial Internet of Things (IIoT), the growth in robotics and automation technologies, and the trend towards miniaturization and high-precision actuators. Additionally, the adoption of pneumatic and hydraulic actuators in industrial applications is expected to play a significant role in shaping the trends within the sector.

The surge in electric vehicle adoption stands as a significant driver fostering growth within the actuator market. Actuators, essential components used to regulate movement in electric mobility, play a pivotal role in various functions of electric vehicles. According to the Global EV Outlook 2022 report by the International Energy Agency, sales of electric vehicles witnessed a remarkable surge in 2021, reaching a new high of 6.6 million, comprising both completely electric and plug-in hybrid vehicles. Despite supply chain disruptions, the momentum continued into 2022, with a 75% increase in global electric car sales in the first quarter compared to the same period in the previous year, totaling 2 million units sold. The global electric vehicle count surged to approximately 16.5 million by the end of 2021, quadrupling the number from 2018. Hence, the increasing popularity of electric vehicles is a driving force propelling the growth of the actuator market.

The burgeoning activities in building construction are poised to bolster the actuator market. Building construction involves various processes, from planning to erection, covering residential, commercial, and industrial structures. Actuators play a crucial role in automating ventilation, HVAC systems, and precise control mechanisms in doors, windows, and other building components. Notably, as per the Federal State Statistics Service, construction output in Russia experienced a notable 6.50% increase in July 2023 compared to the same month in the previous year. This upswing in construction activities underscores the escalating need for advanced automation and control solutions, positioning actuators as integral components in meeting the evolving demands of the construction landscape, thereby supporting the growth of the actuator market.

Innovative product development emerges as a prominent trend driving the actuator market's evolution. Leading companies within this sector are focused on introducing innovative solutions to fortify their market positions. For instance, in October 2021, Curtiss-Wright Corporation unveiled the Exlar SA-R080 rotary and SA-L080 linear actuators, equipped with integral controls, representing the latest sense and control actuator models. These actuators, part of Curtiss-Wright's industrial electromechanical actuator family, offer superior force, precision, and energy efficiency while demanding less cabling, external servo controls, and integration than traditional solutions. The SA-080 series boasts various features including high-pressure seal and rod scraper for ingress protection, standard rear manual drive for emergency operation, integrated power and control electronics for optimized performance, among others. This trend highlights the emphasis on innovation, driving the actuator market's advancement.

Prominent entities within the actuator market are directing their efforts towards the development and introduction of cutting-edge products such as microcontroller sensors, aiming to fortify their market standing. These advanced microcontroller sensors are sophisticated electronic devices integrated with microcontrollers, adept at precise data gathering, processing, and transmission. Their integration enables enhanced functionalities in various applications such as IoT devices, robotics, and smart systems. For example, in December 2021, Renesas Electronics Corporation, a Japanese semiconductor manufacturer, unveiled two new microcontrollers (MCUs) - the RL78/F24 and RL78/F23 - specifically tailored for automotive actuator and sensor control applications, supporting the evolution of edge computing in next-gen electronic and electrical (E/E) architecture. These MCUs expand Renesas' RL78 Family of low-power 16-bit MCUs, enhancing its automotive portfolio. Renesas aims to offer customers reliable, high-performance solutions for a wide spectrum of systems, from actuators to zone control, reducing costs while accelerating advancements in E/E architecture.

In August 2021, Volz Servos GmbH & Co. KG, a Germany-based electro-mechanical actuator developer and manufacturer, completed the acquisition of AEE GmbH for an undisclosed sum. This strategic acquisition saw Volz incorporating AEE into its portfolio, catering to the escalating demand for certifiable electromechanical actuators within the UAV (unmanned aerial vehicle) and UAM (urban air mobility) markets. AEE GmbH, a German avionics specialist, specializes in developing mechanical actuators for the aviation sector, and its addition to Volz's portfolio strengthens the company's position to meet the specific needs of these evolving markets.

Major companies operating in the actuator market report are Emerson Electric Co., ABB Ltd., Rockwell Automation Inc., Moog Inc., SMC Corporation, Curtis Wright Corporation, Eaton Corporation Plc, Honeywell International Inc., Rotork Plc, Misumi Group Inc., Cameron International Corporation, Samson AG, Parker Hannifin Corporation, Venture MFG Co., Altra Industrial Motion, Actuonix Motion Devices Inc., Aptiv PLC, AUMA Riester Gmbh & Co. KG, BorgWarner Inc., Continental AG, Denso Corporation, Festo AG & Co. K.G., Flowserve Corporation, GEA Group AG, General Electric Company, Hitachi Ltd., IAV Automotive Engineering, Johnson Controls International PLC, KITZ Corporation, Mecvel Technologies Private Limited, Nidec Corporation, Regal Rexnord Corporation, Robert Bosch GmbH .

Asia-Pacific was the largest region in the actuator market in 2023. North America was the second-largest region in the actuator market. The regions covered in the actuator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the actuator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The actuator market consists of sales of lead screw actuators and manual valve actuators. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.