The Actuators Market Share was valued at USD 56.29 billion in 2022 and is projected to reach USD 111.43 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.91% during the forecast period from 2023 to 2030.
The Actuators Market, a vital component of various industries, has witnessed substantial growth in recent years. With a market value of USD 56.29 billion in 2022, it is expected to more than double to USD 111.43 billion by 2030. This impressive growth can be attributed to the increasing demand for automation and the adoption of advanced technologies across multiple sectors.
Actuators play a crucial role in converting energy into mechanical motion, enabling the control and movement of various systems. They find extensive applications in industries such as automotive, aerospace, oil and gas, healthcare, and manufacturing, among others. The rising need for efficient and precise control systems has fueled the demand for actuators, driving the market's growth.
Over the forecast period from 2023 to 2030, the Actuators Market is anticipated to grow at a robust CAGR of 8.91%. This growth can be attributed to several factors, including the increasing automation in industries, the rising demand for smart actuators, and the continuous advancements in technology. Additionally, the growing focus on energy efficiency and sustainability is expected to further propel the market's expansion.
In conclusion, the Actuators Market is poised for significant growth in the coming years. With a projected value of USD 111.43 billion by 2030 and a CAGR of 8.91%, this market presents lucrative opportunities for industry players. As automation and technological advancements continue to shape various sectors, the demand for actuators is expected to soar, driving the market's upward trajectory.
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KEY MARKET SEGMENTATION
On The Basis of Type
- Linear Actuator
- Rotary Actuator
On The Basis of Actuation
- Electrical
- Pneumatic
- Hydraulic
- Others
On The Basis of Application
- Industrial automation
- Robotics
- Vehicles and Equipment
On The Basis of Vertical
- Food & Beverages
- Oil & Gas
- Metals, Mining, and Machinery
- Power Generation
- Chemicals, Paper, and Plastics
- Pharmaceutical & Healthcare
- Automotive
- Aerospace & Defense
- Marine
- Electronics & Electrical
- Construction
- Agriculture
- Utilities
- Household & Entertainment
Key Players
The major key players are Crane Co., Emerson (Pentair Valves), Flowserve Corporation, General Electric Company, Imi PLC, Kitz Corporation, Metso Oyj (Neles Oyj), Parker-Hannifin Corporation, Rotork PLC, Schlumberger Limited and other players.
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Table of Contents
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Actuators Market Segmentation, by Type
- Actuators Market Segmentation, by Actuation
- Actuators Market Segmentation, by Application
- Actuators Market Segmentation, by vertical
- Regional Analysis
- Company Profile
- Competitive Landscape
- Conclusion
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