The global electric actuator market size was valued at USD 60.34 billion in 2023 and is projected to reach a value of USD 114.82 billion by 2032, registering a CAGR of 7.41% during the forecast period (2024-2032). The increase in the electric actuator industry share during the forecast period is related to increasing demand for the oil and gas sector and water and wastewater treatment services.
An actuator is a component that causes a system to move by converting energy and signals into motion. It can deliver linear or circular motion. An actuator uses power from a source to move objects. An electric actuator is a device that uses an electric motor to provide the appropriate force to move a load or carry out functions that require force, like clamping. The spindle produces rotational motion, or rotor, of an electric motor. The motor spindle is directly connected to a helical screw via the drive shaft, which revolves in a ball screw nut. Electric activators use alternating currents to power electric motors. The transfer of electric energy into torque destroys the actuator. This basic concept is becoming more popular in the actuator industry.
Electric actuators use lead screws and gears to open and close their applications. In other terms, it converts energy into mechanical motion. There are three primary ways that energy sources can be obtained. Pneumatic, hydraulic, and electric Electric actuators are used with electronic control equipment for all remote manual control elements and some automatic control loops. The electric actuator comprises three parts: the motor unit, the drive unit, and the gear unit. A motor unit drives small valves with gear ratios dictated by the size of the motor and the driving unit.
Actuator demand is rising because of significant oil output. Shale gas usage expansion would result in a growth in the need for actuators. The oil and gas sector is the largest market for electric linear actuators. Processes for automating valves use these actuators. Electric linear actuators are used in this business to regulate valve pressures for pipeline remote opening and closing. The Middle East is also one of the leading producers and suppliers of the oil and gas sector. Oil and gas production and exploration will likely increase, benefiting the electric actuator industry.
Due to population growth, environmental degradation, and economic development, water use and pollution have significantly increased in recent years. Water treatment, sewage treatment plants, effluent treatment plants, and water recycling comprise the bulk of the water and wastewater treatment sector. The enterprises also put zero liquid discharge (ZLD) systems into service to refine and recycle wastewater. Electric actuators are frequently used to direct and regulate the water flow in these industries. These actuators are crucial in various applications in this sector, including water pipelines, dams, pumping stations, sluice gates, and sewage systems.
Most electric actuation devices come at a hefty price. Electric actuators have a very high price tag relative to the strength they provide. Electric actuators also have the disadvantage of being weaker and less potent than their hydraulic and pneumatic counterparts. Electrics continue to be relatively weak despite technological advances that strengthen actuator designs. In addition, the complexity of most electric actuator designs increases the likelihood of breakage and subsequent downtime. These challenges hamper the growth of the electronic actuator market.
Among the many uses for electric actuators, material handling, robotics, the food and beverage industry, window automation, and solar panels are among the most common. Electric linear actuators with an integrated controller enable simple installation, precise movement, and low maintenance costs to automate factory machinery or farm equipment. The actuation of actuators with an internal control unit (IC) is simplified by eliminating a separate control box and relays. Many kinds of feedback, simple control methods, in and out signals at the end of the stroke, individualized design options, and actuator monitoring are all available with IC actuators.
Additionally, the advent of material-handling automation presents yet another new chance. When applied universally, automated guided vehicles (AGVs) and mobile robots (AMRs) can drastically enhance workplace ergonomics, security, and productivity. To satisfy the expectations of the final consumers, the entire material handling process, from production to logistics, must be accurate and trustworthy. For mobile robots, actuators are the way to go. These developments provide new commercial potential for the product.
| Study Period | 2020-2032 | CAGR | 7.41% |
| Historical Period | 2020-2022 | Forecast Period | 2024-2032 |
| Base Year | 2023 | Base Year Market Size | USD 60.34 billion |
| Forecast Year | 2032 | Forecast Year Market Size | USD 114.82 billion |
| Largest Market | Asia-Pacific | Fastest Growing Market | Europe |
Asia-Pacific is the most significant electric actuator market shareholder and is estimated to grow at a CAGR of 7.3% over the forecast period. Due to an increase in the adoption of pipeline transportation and power projects, China, India, and Japan are the major economies that will contribute to the growth of the electric actuator market during the projection period. China is one of the emerging economies that must diversify its energy sources. Additionally, increasing oil and gas reserve discoveries in India and expanding pipeline transportation demand contribute to the Asia-Pacific electric actuator market's growth throughout the projection year. Electric actuator demand in the chemicals industry is increasing due to the region's growing industrialization and urbanization.
Europe is anticipated to exhibit a CAGR of 5.7% over the forecast period. In every industry, Europe tends to accept new and improved technologies. Due to numerous automotive sectors, the actuator market is vast and developed throughout Europe. In addition, Germany has the largest market share in Europe, followed by France. Due to increased investment in the food and beverage and power generation industries, the electric actuator market in the European region is anticipated to expand at a modest rate during the projected period. Additionally, the market for electric actuators is expected to rise due to the region's focus on electrifying automotive components and significant growth in the luxury car category.
The North American market is expected to surge in demand during the forecast period. Due to extensive oil and gas activity and infrastructure development, the electric actuator industry in North America is more developed than in any other geographical area. Due to an increase in oil and gas production, the region in the electric actuator industry generates the most revenue. Actuator demand has increased across North America due to the aggressive expansion of unconventional oil and gas upstream activities like Shale gas production and residential and commercial buildings. Due to its easy accessibility and low cost, natural gas is the most popular fuel in North America. The growth of the electric actuator market is due to the growing demand for premium vehicles.
Latin America, and the Middle East and Africa is expected to offer lucrative growth opportunities for the electric actuator market during the forecast period, owing to the region's stable political and economic conditions. Technological advancements in South America and the Middle East are anticipated to support market expansion in Latin America, as well as the Middle East and Africa. Additionally, the Middle East's increased mining and building activities are expected to create expansion prospects for the electric actuators industry. Additionally, it is anticipated that increased investment in oil and gas-related operations, new refineries, and modernization of existing facilities in growing countries in Africa and Latin America will support market expansion in this area. Additionally, the Middle Eastern nations that produce a significant amount of oil are in charge of expanding the electric actuator market in Latin America, the Middle East, and Africa during the projection period.
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The market is further segmented by type into linear actuators and rotary actuators. The linear actuators segment dominates the global market and is projected to exhibit a CAGR of 5.3% over the forecast period. Electric linear actuators convert an electric motor's rotational motion into linear motion. This actuator's linear guides, motor, and driving mechanisms generate push-pull action in a straight line. A mechanical or electrical linear actuator allows for precise positioning and movement. These actuators are utilized in various locations, including industrial machinery, computer peripherals, and valves.
Additionally, the manufacturing sector's increased automation is a crucial factor driving the demand for linear actuators. The need for linear actuators is primarily driven by industrial goals such as integrating the industrial Internet of Things (IoT). High industrialization in emerging nations is another factor. During the anticipated term, countries like India, China, South Africa, and South Korea will fuel the demand for electric actuators.
The market is further segmented by end-users into oil and gas, energy and power, automotive, aerospace and defense, water and wastewater, and others. The automotive segment owns the global market and is predicted to exhibit a CAGR of 7.4% over the forecast period. The automotive industry uses automated actuators in a variety of production facility applications. Automobiles also utilize them to move different fluids inside the engine block. Electric linear actuators are used in various ways in the automotive sector. With a stroke length range of 10 to 1000 mm, this actuator offers loading capacities up to 15000N. A vehicle actuator's structure also consists of a screw coupled to a power source, like an electric motor.
Due to different government programs, such as the U.S. government's corporate average fuel economy program (CAFEP), the North American market for electric automobiles, buses, and trucks led the global market for electric actuators on a regional level. Additionally, due to the rise in commercial vehicle demand worldwide, the popularity of hybrid and alternative-fuel vehicles, and technological advancements, the application for automotive is anticipated to expand during the forecast period.
