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The new report by Expert Market Research titled, ‘Global Actuators Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028’, gives an in-depth analysis of the Global Actuators Market, assessing the market based on its segments like actuation, type, application, and region.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 48.7 Billion
- Forecast CAGR (2023-2028): 7.41%
- Forecast Market Size (2026): USD 74.8 Billion
The healthcare industry is developing and manufacturing new machines that require actuators. They are utilised in medical devices like as wheelchairs, patient lifts, treatment chairs, dental chairs, medical beds, and CT, MRI, and PT scanning equipment.
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The expansion of healthcare facilities and the rise in the senior population are driving the worldwide healthcare actuators market. In countries such as the United States, India, and China, the number of hospitals is growing.
Actuators Industry Definition and Major Segments
An actuator is a machine component that provides mobility and control over a mechanism or system. Consider the opening of a valve. It necessitates an energy supply as well as a control signal.
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Based on their actuation, they can be categorised as:
- Electrical
- Hydraulic
- Pneumatic
- Others
On the basis of types, the market is segmented into:
- Linear Actuators
- Rod Type Linear Actuators
- Screw Type Linear Actuators
- Belt Type Linear Actuators
- Rotary Actuators
- Motors
- Bladder and Vane
- Piston Type
By application, the industry is bifurcated into:
- Industrial Automation
- Robotics
- Vehicles and Equipment
- Others
On the basis of region, the market is segmented into:
- North America
- Europe
- Asia
- Latin America
- Middle East and Africa
Actuators Market Trends
Some of the reasons influencing the actuators market growth include the development of innovative and cost-effective actuators, as well as the increased need for robotics and process automation in various industrial segments.
The linear category is predicted to expand at the fastest CAGR throughout the projection period. Automation is where linear actuators are most employed. They are employed in a variety of sectors where precise positioning is necessary. Actuator demand has increased dramatically, and this trend is projected to continue during the forecast period.
Key Market Players
The major players in the market are Rockwell Automation Inc., Moog Inc., SMC Corporation, Curtis Wright, IMI PLC, Altra Industrial Motion, Tolomatic, Venture Mfg. Co.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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