Global Linear Actuators Market Grows Steadily at a CAGR of 6.01%

Introduction

Linear actuators assist in transforming energy into linear motions, typically for positioning applications. The vast majority of linear actuators are mechanical or electromechanical devices that provide controlled placement and motion. In addition, these actuators are generally employed in industrial machinery, computer peripherals, valves, and countless other applications that require linear motion. Typical linear actuators generate push and pull forces. In addition, linear actuators allow the user complete control over the precise and secure motion control they provide.

Market Dynamics

Growing Industrial Automation Drives the Global Market

The growth of industrial automation across all industries is the primary force driving the global market. The tendency toward automation has increased due to advances in robotics, artificial intelligence, and machine learning. A linear actuator is an integral part of all actuation systems. It facilitates the automation of a variety of designs and processes in the automotive, manufacturing, agriculture, food, transportation, medical, and many other industries. In addition, the need to satisfy the demands of a growing population compelled manufacturers to automate the process, which also facilitates mass production. The increasing use of industrial robots to expedite production and reduce human error in mechanical sectors is anticipated to drive market growth.

Initiatives Undertaken by Governments of Different Countries Creates Tremendous Opportunities

Numerous governments around the world encourage the growth of industries to secure the overall prosperity of their respective countries. This has resulted in the incorporation of a variety of automation and communication components and technologies into the structural growth of businesses. Globally, governments are concentrating on processes and discrete sectors. For instance, the Government of Singapore has partnered with several associations, including the Singapore Food Manufacturing Association (SFMA) and the Food Innovation Resource Centre, to implement the latest automation solutions, including SCADA, PLC, DCS, robots, and cables, in the food and beverage industry. In addition, the United Kingdom adopted an industrial strategy to push the limits of automation in the renewable energy sector.

Regional Analysis

Asia-Pacific is the most significant global linear actuators market shareholder and is anticipated to grow at a CAGR of 6.44% during the forecast period. Significant factors driving the growth of the linear actuators market in the Asia-Pacific region include increasing economic conditions, rising industrialization, and measures promoting industrial digitalization. Several countries in the Asia-Pacific area stand out as significant automobile industry players. Increasing investments by telecom operators and the government are expected to accelerate the development and implementation of 5G technology throughout the Asia-Pacific region. In addition, the rapid deployment of 5G technologies in the significant Asia-Pacific nations is anticipated to drive the expansion of IoT sensors and actuators to enable industrial automation. In addition, Asia- Pacific's healthcare business is a rapidly expanding industry. There are several uses for linear actuators, ranging from lift chair and patient hoist actuators to hospital adjustable bed actuators. As clinics, hospitals, and healthcare facilities continue to open in Asian nations such as China and India, linear actuators will be in greater demand in the region's healthcare industry.

North America is estimated to grow at a CAGR of 5.97% over the forecast period. The development in automation and emphasis on safety in the automotive industry is the driving force behind the expansion of the linear actuators market in North America. As the transition to a digital economy gains steam, more than half of the surveyed corporate leaders have already automated certain organizational processes. In North America, the increased usage of connected devices, automation, and industry 4.0 technologies for industrial applications is pushing the market for linear actuators. In addition, the United States owns the largest market share. It is anticipated to maintain its dominance during the forecast period due to rising demand from the manufacturing, aerospace, and healthcare industries. The prevalence of electromechanical actuators powered by aviation engines is on the rise. In addition, the United States has the world's largest aerospace and industrial complex, which contributes to the expansion of the linear actuators market in North America.

Key Highlights

• The global linear actuators market was valued at USD 34.53 billion in 2022. It is estimated to reach USD 58.38 billion by 2031, growing at a CAGR of 6.01% during the forecast period (2023–2031).
• Based on type, the global linear actuators market is divided into pneumatic, hydraulic, electric, and others. The electric segment is the largest contributor to the market share and is anticipated to grow at a CAGR of 6.46% over the forecast period.
• Based on the end-user, the global linear actuators market is segmented into automotive, steel, construction, medical/healthcare, IT/semiconductor, agriculture, chemical, and others. The automotive segment owns the highest market and is expected to grow at a CAGR of 6.70% during the forecast period.
• Asia-Pacific is the most significant global linear actuators market shareholder and is anticipated to grow at a CAGR of 6.44% during the forecast period.

Competitive Players

1. Rockwell Automation Inc.
2. PHD, Inc.
3. Moog Inc.
4. Parker-Hannifin Corporation
5. Joyce/Dayton Corp.
6. Siemens AG
7. Duff Norton
8. SMC Corporation
9. Curtiss-Wright
10. Burr Engineering Development

Recent Developments

• September 2022- EnergyValves, a branch of EMVAfrica, introduced a new standard for pneumatic actuators with the V-ACT name. This exceptional pneumatic rack and pinion actuator are appropriate for automating both new and existing quarter-turn valves. V-ACT is the ideal option for automatic centralized control of butterfly and ball valves.
• January 2023- The Timken Company and ICG plc achieved a deal for The Timken Company to acquire Nadella Group, a prominent European manufacturer of linear guides, telescopic rails, actuators and systems, and other specialized industrial motion solutions. 

Segmentation

1. By Type
   1. Pneumatic
   2. Hydraulic
   3. Electric
   4. Others
2. By End-User
   1. Automotive
   2. Steel
   3. Construction
   4. Medical/Healthcare
   5. IT/Semiconductor
   6. Agriculture
   7. Chemical
   8. Others