According to Acumen Research & Consulting, the global Actuator Market was valued USD 47.3 Billion in 2021 and is estimated to be worth USD 87.2 Billion by 2030, rising at a CAGR of 7.3% over the forecast period
Actuators are electronic devices or components that transform electrical, hydraulic, pneumatic, or other sources of energy into mechanical motion or force. They are essential in many industries and applications because they let machines and systems to fulfill specified tasks by physically moving or regulating mechanisms. Actuators are classified into several sorts, including electric motors, hydraulic cylinders, pneumatic pistons, and solenoids, each of which is best suited for a given application based on the intended output.
Actuators are in high demand due to their critical function in automation and control systems. As industry and technology evolve, the demand for more efficient and accurate motion control grows. Actuators allow automation in a variety of sectors, including manufacturing, robotics, aircraft, automotive systems, medical devices, and others. Their capacity to deliver exact and repeatable movement, as well as the possibility for connection with sensors and sophisticated control systems, has made them crucial in increasing productivity, improving safety, and reducing the need for human labor.
Furthermore, as the world grows more concerned of energy usage and environmental effect, actuators can help to improve energy efficiency. By accurately managing motion and power supply, advanced actuators can optimize energy use and minimize waste, making them a sought-after technology in both conventional and developing sectors. The increasing need for actuators is likely to continue as automation, robotics, and smart systems become more popular across many industries, prompting more research & development to build more complex and efficient actuation solutions.
Actuator Market Statistics
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Actuator Market Dynamics
Rapid industrialization and growing robotics application Fuels the Actuator Market Value
Rapid industrialization and the expanding application of robots are two main drivers of the actuator market's growth. As nations throughout the world rapidly industrialize, there is a growing need for automation and mechanization in a variety of industries. Actuators are essential in allowing automation because they transform electrical, hydraulic, or pneumatic energy into precise mechanical motion. Actuators are used in the manufacturing industry to operate and move machines, assembly lines, and robotic arms, resulting in increased productivity, lower labor costs, and higher product quality. The demand for improved efficiency, uniformity, and accuracy in manufacturing processes drives actuator use in sectors ranging from automotive and electronics to pharmaceuticals and food processing.
Another key element boosting the actuator market is the expanding application of robots. Manufacturing, healthcare, logistics, and entertainment are all being transformed by robotics. Actuators are the "muscles" that allow robots to accomplish complex movements and jobs. Actuators are at the heart of robotic systems, whether it's a humanoid robot emulating human action, an autonomous drone negotiating obstacles, or a surgical robot performing delicate operations. Robots are becoming more intelligent and adaptable as artificial intelligence and sensor technologies progress, resulting in a growing need for specialized actuators that can cater to a wide range of robotic applications.
Furthermore, the combination of increased industrialization and the expansion of robots is producing a positive feedback loop, which is fueling the actuator industry even further. As industrial processes become more automated and robots find new applications, the demand for improved actuators with better precision, speed, and reliability grows. This, in turn, spurs R&D activities in the actuator business, resulting in the creation of novel actuators capable of meeting the changing needs of automation and robotics. As a result, the actuator industry is seeing an increase in the number of devices available, ranging from standard electric and hydraulic actuators to more specialized choices such as piezoelectric and shape-memory alloy actuators.
Rapid Adoption of Smart Actuators Will Generate Surplus Worldwide Actuator Market Opportunities
The rising deployment of smart actuators is creating huge market potential across several sectors. These modern actuators, which include sensors and communication capabilities, are driving the automation and Industry 4.0 change. They play an important role in optimizing production processes in smart factories by capturing real-time data and responding intelligently to changing conditions. Smart actuators combined with artificial intelligence and machine learning algorithms offer predictive maintenance, resulting in decreased downtime and greater operational efficiency. Demand for smart actuators will continue to rise as industries strive to increase production while lowering costs.
The Internet of Things (IoT) landscape is another significant area where smart actuators are offering potential. Smart actuators with built-in connection may be remotely monitored and controlled, opening the way for more connected and responsive systems. This has ramifications for a variety of industries, including smart homes, smart cities, and self-driving cars. The ability to remotely alter actuator parameters and get real-time performance data is becoming increasingly beneficial for enterprises and consumers, providing ease, energy savings, and overall enhanced user experiences.
Smart actuators are also propelling the development of adaptive and self-driving systems. Smart actuators fitted with sensors, for example, in robots and drones, may change their motions depending on environmental feedback, ensuring safer and more precise operations. Smart actuators are critical for the evolution of autonomous cars in the automotive industry because they can react to changing road conditions and modify vehicle components accordingly, contributing to improved safety and performance.
Finally, the fast use of smart actuators is revolutionizing different sectors and opening up a plethora of options for industry participants. These actuators are at the forefront of technological breakthroughs, from driving automation and Industry 4.0 in production to allowing IoT and connection in smart systems. As innovation continues, the smart actuator market is expected to grow even further, delivering increasingly more complex and specialized solutions to meet the changing demands of the modern world.
Actuator Market Segmentation
The global market has been categorized into type, system, end use, and region
Actuator Market Share
According to the actuator market forecast, the linear type sub-segment will have the biggest market share between 2022 and 2030.
According to an actuator industry analysis, electrical systems held a major market share in 2021 and are expected to do so in the future.
Automotive end-use dominated in 2021, although aerospace & defense is likely to acquire substantial traction in the future years.
Actuator Market Regional Outlook
North America has a significant actuator market, owing to rapid industrialization, technical innovation, and a strong emphasis on automation. The region's automotive, aerospace, and defence industries all contribute considerably to actuator demand. Furthermore, the presence of significant industry companies and research institutes promotes ongoing development in smart actuators and robotics applications.
Europe is another important market for actuators, with a well-established industrial base and a strong emphasis on energy efficiency and sustainability. The automotive and aerospace sectors in particular drive demand for high-performance actuators to improve production processes and overall product quality. Furthermore, increased expenditures in smart factories and Industry 4.0 efforts support the region's adoption of smart actuators.
The Asia-Pacific region's actuator market is rapidly expanding, propelled by the region's thriving manufacturing and automotive sectors. With increased investments in industrial automation and robotics, countries such as China, Japan, South Korea, and India are important contributors to the region's growth. The growing demand for consumer electronics and smart gadgets drives the region's use of actuators.
Actuator Market Players
Some prominent actuator companies covered in the industry include ABB, Altra Industrial Motion, Curtis Weight Corporation, Eaton Corporation plc, Emerson Electric Co., Honeywell Corporation, IAV Automotive Engineering, Rockwell Collins, Rotork Plc., and Samson Ag.
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Mr. Frank Wilson
Acumen Research and Consulting