Global Industry Analysts Predicts the World Actuators Market to Reach $57 Billion by 2026

SAN FRANCISCO, March 28, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Actuators - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 6; Released: February 2022
Executive Pool: 38468
Companies: 139 - Players covered include ABB Limited; Altra Industrial Motion; Auma Riester GmbH & Co.; Cair Euromatic Automation Pvt Ltd.; Cameron International Corporation; Curtiss Wright; Eaton Corporation plc; Elger Controls India Private Ltd.; Festo AG & Co. KG; Flowserve Corporation; Harmonic Drive LLC; Honeywell International Inc.; Indelac Controls Inc.; KITZ Corporation; Micromatic LLC; MISUMI Group, Inc.; Moog, Inc.; Motion Systems Corp.; Pentair Plc.; Rockwell Automation, Inc.; Rotork Plc; SMC Corporation; Timotion Technology Co. Ltd.; The Emerson Electric Company and Others.
Coverage: All major geographies and key segments
Segments: Type (Linear Actuators, Rotary Actuators); System (Electrical, Hydraulic, Pneumatic, Mechanical, Other Systems)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Actuators Market to Reach $57 Billion by 2026
Actuators are critical devices used as components in assemblies for almost all industries, including automotive, aerospace, agriculture, manufacturing, solar, medical, and robotics. Rapid industrialization and urbanization are anticipated to be the major factors driving growth for the actuators market globally. Growth is set to be fueled by factors of growth in the automotive industry, growing demand for aircraft, as well as technological advancements leading to better performing actuators. Growing investment in renovations of existing infrastructure and also creation of new infrastructure present favorable growth opportunities. Demand for actuators would be strong in the oil and gas, marine and mining sectors as well. Several industries are currently focusing on automatization of their operations for enabling greater efficiency, increased precision and enhanced safety in their production operations. Growing focus on remote monitoring is also anticipated to fuel market growth.

In the coming years, demand for actuators would be strong in the oil and gas, marine and mining and aerospace and defense sectors as well. In the oil and gas end-use sector in particular, actuators would see widening applications in gas & liquid pipelines, gas storage, and LNG. Activities for exploration of new oil resources are increasing in number. The mining industry is another significant end-user of actuators. Mining activities are increasing in both onshore and deep seabed, owing to the invention of several new mining technologies, which would bode well for future market growth for actuation systems. Iron & steel, chemical, pulp & paper, waste water, and power industries are a few other major end-user industries for different types of actuators. Rising popularity of smart water management technologies would also provide significant opportunities for actuators market growth in the future.

Amid the COVID-19 crisis, the global market for Actuators estimated at US$47 Billion in the year 2022, is projected to reach a revised size of US$57 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Linear Actuators, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR to reach US$37.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Rotary Actuators segment is readjusted to a revised 4.1% CAGR for the next 7-year period. This segment currently accounts for a 38.5% share of the global Actuators market. Linear actuators generate pull/push action. Based on their adaptable design and flexibility, linear actuators are finding increasing adoption in military automation and spacecraft systems. Rotary actuators are gaining acceptance among several industries such as transportation, defense, manufacturing, and medical equipment. Rising integration of service and industrial robots is fueling demand for rotary actuators.

The U.S. Market is Estimated at $12.4 Billion in 2022, While China is Forecast to Reach $11.7 Billion by 2026
The Actuators market in the U.S. is estimated at US$12.4 Billion in the year 2022. The country currently accounts for a 27% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$11.7 Billion in the year 2026 trailing a CAGR of 7.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$12.6 Billion by the end of the analysis period. In the North American market, future demand for actuators would stem from the growing investments across various end-use sectors including food processing, automotive and life sciences among others. Strong demand from the defense and aerospace applications and growing process automation needs across all the major end-use sectors would also emerge as significant growth promoting factors. Growth of smart buildings, smart mobility, smart transportation, smart security and smart healthcare in the smart cities would provide major market growth opportunities in the Asia-Pacific region. China represents a lucrative actuators market owing to its status of being a global manufacturing hub. The country is not only the leading automotive manufacturer globally, but also a major producer of consumer electronics. These factors along with the positive economic progress are driving the actuator market in the country. In addition, cheap, bulk, eco-friendly and energy-efficient manufacturing coupled with development of various applications for new technologies is expected to help the actuators market in witnessing a lucrative growth.
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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