Industrial Actuators Market By Type of Actuators (Hydraulic Actuators, Pneumatic Actuators), End-User Industry (Manufacturing, Oil & Gas), Applications (Valve Actuators, Linear Actuators), & Region for 2024-2031

Industrial Actuators Market Valuation - 2024-2031

Increasing adoption of automation in manufacturing and industrial processes is propelling the adoption of industrial actuators. Innovations in actuator technology, such as improved materials and control systems is driving the market size surpass USD 43.19 Billion valued in 2024 to reach a valuation of around USD 65.21 Billion by 2031.

In addition to this, expansion in industries like automotive, aerospace, and energy creates a higher need for efficient actuation solutions are spurring up the adoption of industrial actuators. Increasing need for tailored actuators to meet specific operational requirements this, is enabling the market grow at a CAGR of 5.83% from 2024 to 2031.

Industrial Actuators Market: Definition/ Overview

Industrial actuators are mechanical devices used to control the movement of machinery and equipment in various industrial settings. They convert energy-typically electrical, hydraulic, or pneumatic-into precise physical motion. Actuators are essential for automating tasks such as opening valves, positioning components, and controlling machinery, ensuring efficiency and accuracy in industrial operations.

Industrial actuators find widespread application across multiple sectors. In manufacturing, they are used to control robotic arms, conveyor systems, and automated assembly lines. In the oil and gas industry, they manage valve operations and flow control. Additionally, in aerospace and automotive industries, actuators play a crucial role in flight control systems and engine management. Their versatility extends to energy production, chemical processing, and even smart infrastructure systems.

How will Rise in Investments in Infrastructure Projects Worldwide Increase Adoption of Industrial Actuators?

The global industrial actuators market is experiencing significant growth driven by the expansion of automation technologies across various industries. According to a report by the U.S. Department of Energy published in August 2023, automation in manufacturing has been increasing at a rate of 8% annually. This surge is attributed to the need for improved efficiency and productivity, which in turn fuels the demand for advanced actuators. Key industry players like Siemens are investing heavily in smart actuator systems to cater to this growing need.

Another major driver is the rise in investments in infrastructure projects worldwide. As reported by the European Commission in June 2023, the EU allocated approximately €500 billion for infrastructure development through 2027. This massive investment is expected to create significant demand for industrial actuators used in construction and transport systems. Companies such as Honeywell are actively developing new actuator technologies to support this influx of infrastructure projects.

Additionally, the growing emphasis on energy efficiency and sustainability is influencing the industrial actuators market. The International Energy Agency (IEA) reported in July 2023 that the global focus on reducing energy consumption in industrial operations is driving the adoption of energy-efficient actuator solutions. Companies like Emerson Electric are advancing their product lines to include more energy-efficient actuators to meet these new standards and regulations.

Will Limited Awareness and Understanding of Industrial Actuators Restrain Its Market Growth?

There is often a lack of awareness and understanding about the benefits and applications of advanced actuators among some industrial sectors. This limited knowledge can result in slower adoption rates and reluctance to invest in new technologies. Companies may not fully grasp how advanced actuators can enhance their operations, leading to missed opportunities for efficiency improvements and market growth.

Economic fluctuations and budget constraints can impact the industrial actuators market by affecting companies' investment decisions. During periods of economic uncertainty, businesses may prioritize essential expenses and delay investments in advanced actuator technologies. This financial conservatism can lead to reduced demand for new actuators and slow market growth, as companies focus on short-term cost-saving measures rather than long-term technological upgrades.

Modern industrial actuators often come with increased complexity in installation and maintenance. The advanced features and sophisticated technology require specialized knowledge and skills, which can lead to longer setup times and higher maintenance costs. Companies may face challenges in training personnel and ensuring the proper functioning of these systems. This complexity can be a deterrent for some organizations, affecting the overall growth of the market.

Category-Wise Acumens

Will Rise in Adoption of Piezoelectric Actuators Drive Industrial Actuators Market Growth?

Piezoelectric actuators are increasingly dominating the industrial actuators market due to their precision and reliability in various applications. According to a 2023 report from the National Institute of Standards and Technology (NIST), piezoelectric actuators are being adopted in 40% of advanced manufacturing processes due to their superior control and response times. Companies like Physik Instrumente are leading advancements in this area, offering cutting-edge piezoelectric solutions to meet growing industry demands.

The increasing demand for piezoelectric actuators is also driven by their applications in the electronics and automotive sectors. A report from the U.S. Department of Commerce in July 2023 highlighted that piezoelectric actuators are critical in 35% of new electronic devices and automotive systems due to their compact size and efficiency. Major players such as Murata Manufacturing are expanding their product lines to incorporate advanced piezoelectric technologies to capitalize on this trend.

Which Factors Enhance the Use of Industrial Actuators in Manufacturing Sector?

The manufacturing sector is a leading driver in the industrial actuators market due to its extensive use of automation and control systems. The U.S. Bureau of Labor Statistics reported in August 2023 that manufacturing accounts for 45% of actuator applications, reflecting the industry's reliance on these devices for enhanced efficiency and precision. Major companies like Rockwell Automation are continuously developing advanced actuator technologies to cater to the evolving needs of the manufacturing sector.

Additionally, the global push towards Industry 4.0 is propelling the demand for industrial actuators within manufacturing. According to a report from the International Organization for Standardization (ISO) in July 2023, the adoption of smart manufacturing solutions has led to a 25% increase in actuator installations across production lines. Firms such as Schneider Electric are investing in innovative actuator solutions to support the transformation towards more automated and intelligent manufacturing environments.

Country/Region-wise Acumens

Will Early Adoption of Smart Manufacturing Technologies in North America Drive Industrial Actuators Market Growth?

North America's industrial actuators market is experiencing rapid growth, driven by advancements in automation and the increasing adoption of smart manufacturing technologies. The United States and Canada are leading this expansion, with their robust industrial sectors embracing actuators for improved efficiency and precision. According to the U.S. Bureau of Labor Statistics, employment in the manufacturing sector increased by 4% between 2021 and 2022, indicating a growing demand for industrial equipment, including actuators.

The oil and gas industry in North America has been a significant contributor to the actuator market's growth, with a focus on enhancing safety and operational efficiency. The need for reliable valve control systems in pipelines and refineries has spurred innovation in actuator technology. In a recent development, Emerson, a key player in the actuator market, announced in February 2023 the launch of its new Bettis RTS Series of spring-return gas hydraulic valve actuators, designed specifically for pipeline valve automation applications in remote locations.

The aerospace and defense sectors in North America have also played a crucial role in driving the demand for high-performance actuators. With increasing investments in military modernization and commercial aircraft production, the market has seen a surge in demand for precision control systems. Statistics Canada reported that the country's aerospace product and parts manufacturing industry generated USD 21.2 Billion in revenue in 2021, underlining the sector's significant contribution to the actuator market. As North American companies continue to invest in research and development, focusing on innovations such as electro-hydraulic actuators and smart actuators, the region is poised to maintain its rapid growth trajectory in the Industrial Actuators Market.

Will Rising Industrialization Enhance Adoption of Industrial Actuators in Asia Pacific?

The Asia-Pacific region dominating the industrial actuators market, driven by rapid industrialization and technological advancements. Countries like China, Japan, and South Korea are at the forefront of this growth, with their manufacturing sectors experiencing significant expansion. According to the China Machinery Industry Federation, the country's machinery industry output value reached 21.84 trillion yuan in 2021, highlighting the robust demand for industrial actuators in the region.

The automotive and aerospace industries in Asia-Pacific have been major contributors to the market's growth, with increasing automation and the adoption of smart manufacturing processes. This trend has led to a surge in demand for precision control systems, including actuators. In a recent development, Rotork, a leading actuator manufacturer, announced in May 2023 that it had secured a major contract to supply electric actuators for a new petrochemical plant in China, further solidifying its presence in the region.

Environmental concerns and stringent regulations have also played a role in shaping the market landscape. The push for energy-efficient solutions has led to innovations in actuator technology, with manufacturers focusing on developing eco-friendly products. Japan's Ministry of Economy, Trade and Industry reported that the country's industrial robot production increased by 23% year-on-year in 2022, indicating a growing need for advanced actuators in robotics applications.

Competitive Landscape

The industrial actuators market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the industrial actuators market include:

• Siemens AG
• Schneider Electric
• Rockwell Automation
• Honeywell International, Inc.
• Emerson Electric Co.
• Parker Hannifin Corporation
• SKF Group
• B&R Industrial Automation
• Bosch Rexroth AG
• Moog, Inc.
• Festo AG & Co. KG
• Thyssenkrupp AG
• Mitsubishi Electric Corporation
• Beckhoff Automation GmbH & Co. KG
• Delta Electronics, Inc.
• Johnson Controls International plc
• LMI Technologies, Inc.
• Camozzi Automation S.p.A.
• SMC Corporation
• Applied Robotics, Inc.

Latest Developments

• In September 2024, Siemens AG launched a new line of smart industrial actuators designed for enhanced energy efficiency and precision in automation systems, featuring advanced sensor integration and IoT connectivity.
• In August 2024, Emerson Electric Co. announced the acquisition of a leading actuator technology firm to expand its portfolio of high-performance actuators for the oil and gas sector, enhancing its capabilities in remote and hazardous environments.

Industrial Actuators Market, By Category

• Actuators:
• Hydraulic Actuators
• Pneumatic Actuators
• Electric Actuators
• Mechanical Actuators
• Piezoelectric Actuators
• End-User Industry:
• Manufacturing
• Oil & Gas
• Aerospace & Defense
• Automotive
• Healthcare
• Application:
• Valve Actuators
• Linear Actuators
• Rotary Actuators
• Grippers and Clamps
• Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa