Actuator Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
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The Actuator Market Size was valued at USD 47.3 Billion in 2021 and is estimated to reach a market size of USD 87.2 Billion by 2030 growing at a CAGR of 7.3% from 2022 to 2030. The increased adoption of automatic systems in automobiles is projected to fuel the actuator market growth. The global expansions of Smart Cities, as well as the rising need for unique and cutting-edge actuators across numerous sectors, have boosted the actuator market value in recent years.
Actuator Market Report Key Highlights
- Global actuator market revenue is expected to increase by USD 87.2 billion by 2030, with a 7.3% CAGR from 2022 to 2030
- Asia-Pacific region led with more than 48% of actuators market share in 2021
- Europe actuators market growth will observe strongest CAGR from 2022 to 2030
- By type, the linear segment has accounted market share of over 63% in 2021
- By system, electric segment engaged more than 23% of the total market share in 2021
- Rising demand from the automobile industry, drives the actuators market size
An actuator is a device that transforms energy into motion using basic devices like wheel & axle, bolt, and lever or wedge. Actuators are commonly used to monitor friction and regulate flow in the manufacture of engines, generators, switches, and valves.
Actuator Market Trends
Market Drivers
- Rising demand from the automobile industry
- Rapid industrialization and growing robotics application
- Growing demands from the healthcare industry
- Increasing adoption of automatic transmissions and engine downsizing in automobiles
Market Restraints
- High installation and maintenance costs
- Difficulties of leakage in hydraulic and pneumatic actuators
Market Opportunities
- Rapid adoption of Smart actuators
- Rise in demand from the oil and gas sector
Actuator Market Report Coverage
| Market | Actuator Market |
| Actuator Market Size 2021 | USD 47.3 Billion |
| Actuator Market Forecast 2030 | USD 87.2 Billion |
| Actuator Market CAGR During 2022 - 2030 | 7.3% |
| Actuator Market Analysis Period | 2018 - 2030 |
| Base Year | 2021 |
| Forecast Data | 2022 - 2030 |
| Segments Covered | By Type, By System, By End Use, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Honeywell Corporation, IAV Automotive Engineering, Rotork Plc., Eaton Corporation plc., Emerson Electric Co., Rockwell Collins., Samson Ag, ABB, Altra Industrial Motion, and Curtis Weight Corporation. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Growing demand from the automobile and energy industries is a major factor in the global market growth of actuators. Increasing investment in process automation and rising demand for actuators from packaging, food processing, healthcare, etc. are added factors expected to support global market growth for actuators. Late actuator wear and tear is projected to threaten global actuator demand development to some degree. Technological advancements such as actuator production with high precision and long product life are projected to generate new opportunities over the forecast period for major market players.
The actuator is a critical component in electric-powered vehicle systems. The primary purpose of an actuator is to transform various varieties of signals into mechanical force. The control signal can take several forms, such as electrical, pneumatic, mechanical actuators, or hydraulic actuators. Consumption in the global actuators market has been driven by the importance of electronic production in major industries. The rising adoption of actuators in the auto industry has boosted the market growth. Actuators in an automated process work on the basis of sensing elements. The increasing use of automated processes in automobiles is likely to stimulate the desire for actuators. The increasing influence of industrial automation and engine reduction in automobiles is increasing the automobile actuator market.
Market Segmentation
The global actuators market segmentation is based on type, system, end use, and geography.
Market By Type
- Rotary
- Linear
According to an actuator industry analysis, the linear-type actuator segment held the largest market share in 2021. This expansion is attributed to increased industrial automation in automobile, aerospace, as well as other industries' industrial equipment. Furthermore, key companies' focus on technical innovation of linear actuators is projected to drive market expansion.
Market By System
- Hydraulic
- Electrical
- Mechanical
- Pneumatic
In terms of systems, the electrical actuators segment is projected to show rapid growth in the actuators industry. Electrical actuation systems consider applications installed in aircraft that are secure to use, need low maintenance, and are simple to reconfigure relative to hydraulic and pneumatic actuation systems. It has resulted in strong demand for electrical actuator solutions, which is anticipated to be a leading force driving actuators market development. Leading corporations such as ITT, a diversified supplier of technologically designed critical part base & tailored development solutions, have widened their product selection by offering electrical actuator varieties. With the burgeoning demand from the industry for smart and programmable actuator products, key companies are realizing the need to expand their current product offerings by including electric actuators in the existing offering framework.
Market By End Use
- Automotive
- Chemicals
- Aerospace & Defence
- Oil & Gas
- Pharmaceutical
- Power
- Water & Wastewater
- Food & Beverages
- Mining & Metals
- Others
According to the actuator market forecast, the automotive segment is expected to grow significantly in the industry over the next few years. The increasing use of automated processes in automobiles is likely to stimulate demand for actuators. The growing popularity of automation systems & engine reduction in automobiles is increasing the automotive actuators market. Modern automobiles have a significant adoption rate of automation systems. The major function of automotive pneumatic actuators is to manage engine idle torque and speed in order to enhance engine economy and overall vehicle performance.
Actuator Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
North America's business is projected to lead with a higher sales share in the global actuator industry relative to other national markets due to growing automation in the food and processing field, where actuators are used for deboner, food press, and others. In addition, a well-developed healthcare market, where the actuator is used for different purposes such as patient management, personal mobility, etc., and the involvement of many leading players operating in this region also contribute to the market growth. Europe's industry accounted for the second-largest portion of the overall actuators market followed by Asia-Pacific. The Asia-Pacific market is expected to exhibit the highest sales rise. This can be attributed to the rapid industrialization and existence of major players in the emerging economies of the region.
Actuator Market Players
Some of the top actuator market companies offered in the professional report includes Honeywell Corporation, IAV Automotive Engineering, Rotork Plc., Eaton Corporation plc., Emerson Electric Co., Rockwell Collins., Samson Ag, ABB, Altra Industrial Motion, and Curtis Weight Corporation.