Home Automotive and Transportation Global Actuators Market Size, Top Share, Growth to 2031

Actuators Market

Actuators Market Size, Share & Trends Analysis Report By Type (Pneumatic Actuators, Hydraulic Actuators, Electrical Actuators, Thermal Actuators, Mechanical Actuators), By End-Use (Oil and Gas, Automotive, Electronics, Food and Beverages, Wastewater Plant, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRAT663DR
Study Period 2019-2031 CAGR 7.90%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 56.97 Billion
Forecast Year 2031 Forecast Year Market Size USD 112.94 Billion
Largest Market Europe  Fastest Growing Market North America
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Market Overview

The actuators market size was valued at USD 56.97 billion in 2022 and is projected to reach a value of USD 112.94 billion by 2031, registering a CAGR of 7.90% during the forecast period 2023-2031.

An actuator is a mechanical device responsible for converting energy into motion. With the help of input energy that is generated by electricity, air, or liquid, actuators apply a force to move an object. Types of actuators include hydraulic, pneumatic, electrical, thermal, and mechanical. Actuators make use of an energy source and a control signal.

Due to their superior performance and reduced need for human interaction, automated processes and machines are widely used in today's industries. Such automated machinery relies heavily on actuators to operate. They also aid in regulating the system's motion, guaranteeing a smooth and simple operation. The demand for actuator systems has increased along with the demand for automation and the productivity and efficiency of several industrial processes. The increasing demand for global oil and gas, commercial, and transportation industries drive the actuators market's expansion.

Market Dynamics

Market Drivers

An increase in industrial automation

Automation is becoming more prevalent due to advancements in robotics, A.I., and machine learning. The automotive, manufacturing, agricultural, food, transportation, and medical industries employ actuators to automate various systems and processes. Actuators are a crucial component of all actuation systems. Through the projected period, the market expansion is anticipated to be driven by increased industrial automation. Another reason for the rise in industrial automation is the growing population. Another reason driving up demand for industrial automation is the expanding global population. Manufacturers automated the process that led to the mass production of goods to meet the wants of the growing population. In addition, the growing employment of industrial robots in mechanized sectors is anticipated to accelerate market growth by reducing human error and speeding up production.

Deliveries of commercial aircraft are rising

Actuators are employed in many aspects of an airplane, including the landing gear, flight controls, seats, doors, and more. As a result, the demand for aircraft will increase as new products become available. The demand for air travel has recently surged due to the enormous economic expansion in developing nations and growing economies like China, Africa, and India. There is a need to expand the fleet of airplanes because of the increased air passenger traffic. This demand has caused a rise in commercial aircraft deliveries, which is expected to fuel the market's expansion.

Market Restraints

Hydraulic and pneumatic actuators have high installation and maintenance costs

Due to the fluids they contain, hydraulic actuators are challenging to install. It has substantial installation costs, mainly when installed for industrial lines. The market's expansion is anticipated to be hampered by this. The pneumatic and hydraulic actuation systems use air and a fluid medium, such as oil or water, respectively, to produce the desired output. Oil or water leaks harm products, reduce their effectiveness and raise maintenance costs, which hurts the market. The many actuators used in a wide range of applications have problems. Efficiency is compromised in the case of hydraulic linear actuators due to fluid leakage, which causes problems with cleanliness. 

As a result, the market share growth of actuators is hampered by key damage reasons such as continuous seal wear, improper assembly or maintenance, dangers related to steam valves, and decreased quality.

Market Opportunity

Widely applicable

Today actuators are widely used in all sorts of industries, where linear actuators have become an essential part of one's day-to-day life. It is used explicitly in agricultural machinery, cutting equipment, food and beverages, robotics, material handling, window automation, solar panel and valve operations, and non-industrial application. A linear actuator can convert a motor's rotational motion into a linear movement. A standard electric motor moves in circulation, while a linear actuator moves backward and forward. The linear actuator is responsible for relocating the load from one point to another. The electromechanical variant also offers the option to halt the stroke midway. Users can enable reliable, secure, and precise mobility when they combine linear actuators with sensors or other intelligent machinery. The combination enables employees to complete previously boring activities with little manual labor. Motion is made possible in machinery related to robotics by linear actuators. They give robots access to their environment via their wheels, clamps, arms, and legs.

Regional Analysis

Depending on the region, the actuators market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. Europe dominates the market.

The automotive industry plays a crucial role in the overall prosperity of the European economy. It represents a significant portion of the continent's exports and accounts for around 13 million jobs. As per the European Automobile Manufacturers Association, total investments in Europe's automotive sector amounted to 60 billion dollars in 2017. The total number of vehicles produced in 2018 amounted to 17.2 million units, representing around 18% of the global figure. Actuators are widely used in automobile manufacturing stations in industrial automation and robotics to automate the manufacturing process to increase output and efficiency and reduce human accidents. Thus, the actuators market will grow in tandem with the automotive sector, to a certain degree. Food and beverage is another leading industry in Europe. Actuators are used widely in the food and beverage industry to control the flow processes involved in manufacturing food and beverages. As per FoodDrink Europe, total external trade accounted for USD 121 billion, of which Europe held 18%. This has been backed by resurgent investments worth about USD 3.2 billion in research and development. The food and beverage industry employs large-scale use of actuators that control essential processes that require precision in timing and minimum human contact to maintain high cleanliness standards. Thus, the growth of the food and beverage industry is expected to drive the demand for various types of actuators and subsequently supplement the growth of the actuators market.

North America is currently the second-dominant region in the world due to the increasing use of automation and electric actuation techniques by numerous significant actors and end-users. It is also believed that semiconductors are emerging in North America. Specifically, the USA is causing increased demand for the products.

Asia-Pacific accounts for a moderate share of the market. Japan, China, India, South Korea, Taiwan, and the rest of Asia Pacific's actuator markets have all been studied. Industries in the Asia Pacific region are constantly updating their capabilities, necessitating machinery with cutting-edge actuators. China and Japan invest heavily in these technologies to gain a strategic edge in robotics and process automation. This is an excellent opportunity to grow for actuator manufacturers in the Asia Pacific region.

Report Scope

Report Metric Details
Segmentations
By Type
  1. Pneumatic Actuators
  2. Hydraulic Actuators
  3. Electrical Actuators
  4. Thermal Actuators
  5. Mechanical Actuators
By End-Use
  1. Oil and Gas
  2. Automotive
  3. Electronics
  4. Food and Beverages
  5. Wastewater Plant
  6. Others
Company Profiles Johnson Controls International plc Assured Automation Honeywell International Inc. Micromatic LLC Cair Euromatic Automation Pvt Ltd Cameron International Corporation Festo AG and Co. KG Rotork Flowserve Corporation General Electric Schlumberger Limited Emerson Electric Co. Auma Riester GmbH and Co. Schneider Electric The Danfoss Group Curtiss-Wright Top Line Process Equipment Co. Harmonic Drive LLC Elger Controls India Private Ltd
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global actuators market is segmented by Type, end-use, and region.

By end-use, the market is sub-segmented as Oil and Gas, Automotive, Electronic, Food and Beverage, and Wastewater plants.

The oil and gas sector is undergoing a remarkable change and the United States and on course to lead the global trade of oil and gas in the coming years. With the increase in research and development in the shale gas sector in the U.S., the demand for actuators is projected to witness considerable growth in the coming years. Inter-governmental treaties such as the TAPI(Turkmenistan–Afghanistan–Pakistan–India) pipeline project, also known as the Trans-Afghanistan Pipeline, will carry 33 billion cubic meters of natural gas to the said countries, which will propel the demand for actuators that are used to control the flow processes in the oil and gas industry. Furthermore, investments from countries like Saudi Arabia drive actuators' market growth. For instance, Saudi Arabia's Aramco plans to invest around USD 110 Billion in the Jafurah gas field. 

By Type, the market is further bifurcated into Pneumatic Actuators, Hydraulic Actuators, Electrical Actuators, Thermal Actuators, and Mechanical Actuators.

Electrical actuators are readily available and most widely used since they do not use oil-compressed air, which reduces the need for extra machinery. These actuators are powered by electrical energy and use a powerful motor to convert the electrical energy into an actuating force. These actuators are preferred in electrically motorized equipment used for excavation and construction.

Pneumatic actuators use compressed air or gas to produce desirable linear or rotational motion. Pneumatic actuators are most widely used in engine pistons, ignition chambers, and other automotive applications as they require a quick response in terms of the starting and stopping of the actuators. Pneumatic actuators are cheap, safer, and highly reliable compared to other actuator types and, hence, abundantly used.

Market Size By Type

Market Size By Type
  • Pneumatic Actuators
  • Hydraulic Actuators
  • Electrical Actuators
  • Thermal Actuators
  • Mechanical Actuators
  • Recent Developments

    • In November 2022, on Alibaba Cloud, Johnson Controls Launched Open blue.
    • In November 2022, Johnson Controls partners with Clemson University to support the 2030 Net Zero Goals on campus.
    • In October 2022, Honeywell launched an environmental sustainability index that displays sustainability leaders' perceptions of past accomplishments and anticipated future developments about corporate environmental goals.

    Key Players

    Actuators Market Share of Key Players

    Actuators Market Share of Key Players
    Johnson Controls International plc Assured Automation Honeywell International Inc. Micromatic LLC Cair Euromatic Automation Pvt Ltd Cameron International Corporation Festo AG and Co. KG Rotork Flowserve Corporation General Electric Schlumberger Limited Emerson Electric Co. Auma Riester GmbH and Co. Schneider Electric The Danfoss Group Curtiss-Wright Top Line Process Equipment Co. Harmonic Drive LLC Elger Controls India Private Ltd Others

    Frequently Asked Questions (FAQs)

    What is the growth rate for the Actuators Market?
    Actuators Market size will grow at approx. CAGR of 7.9% during the forecast period.
    Some of the top industry players in Actuators Market are, Johnson Controls International plc, Assured Automation, Honeywell International Inc., Micromatic LLC, Cair Euromatic Automation Pvt Ltd, Cameron International Corporation, Festo AG and Co. KG, Rotork, Flowserve Corporation, General Electric, Schlumberger Limited, Emerson Electric Co., Auma Riester GmbH and Co., Schneider Electric, The Danfoss Group, Curtiss-Wright, Top Line Process Equipment Co., Harmonic Drive LLC, Elger Controls India Private Ltd, etc.
    In the Actuators Market, Europe  has established itself as the market leader with a significant market share.
    The Actuators Market has seen the most substantial growth rate in North America.
    The global Actuators Market report is segmented as follows: By Type, By End-Use


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