The latest market report published by Credence Research, Inc. is “Global Actuators Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Actuators Market generated revenue of around USD 52.6 billion in 2021 and is anticipated to grow a CAGR of over 7.7% during the forecast period from 2022 to 2028 to reach around USD 82.08 billion in 2028.
An actuator is a mechanical part that transforms energy into motion and regulates systems, machinery, and equipment. Pneumatic and hydraulic forces are typically used to power the device, which can be operated electronically, manually, or via software. Actuators are capable of both linear and rotary motion. The linear motion converts energy and performs push and pull functions to position other equipment. Actuators are most widely used in the form of electric motors, cylinders, solenoids, rack and pinion arrangements, switches and valves, hard drive stepper motors, and comb drivers, and have a wide range of applications in industries such as oil and gas, construction, power generation, chemicals, military and defense, steel, automotive, healthcare, and aerospace. Increased investments in process automation across end-use verticals, rising aircraft carrier numbers, the ongoing expansion of the global automotive industry, and technological advancements in robotics and automation actuators are the main factors propelling the valves and actuators market. Automation is becoming increasingly popular across various industries to increase productivity, accuracy, and safety. However, laborious leakage repairs, high maintenance costs, competitive pricing standards, and unsatisfactory consumer behavior constrains the global actuator market share.
Browse Global Actuators Market report-https://www.credenceresearch.com/report/actuators-market
The global actuators market is bifurcated into System, Type, Application, End-User, and Geography. Based on the system, the market is categorized into electric, pneumatic, hydraulic, mechanical, and others. Based on the type, the market is divided into linear and rotary. Based on application, the global market is segmented into commercial and industrial. Based on the end-user, the market is categorized into energy and mining, construction, chemical, automotive, healthcare, steel, military and defense, and others. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2021, Asia Pacific dominated the global actuators market and accounted for a major market revenue share. Regional countries such as India and China, rapidly developing their automotive industries, dominate the Asia Pacific region. The demand for more passenger cars and the need to build fuel-efficient vehicles are driving factors for the regional automotive actuators market.
Why to Buy This Report-
- The report examines the global actuators market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
- The report provides competitive landscape information, such as how the market’s key players operate at the global, regional, and country levels.
- In-depth analysis of the global actuators market segmentation by system, type, application, and end-user.
- The report contains comprehensive and authentic data for all factors, including CAGR, consumer purchasing trends, supply and demand, and major regional countries’ import/export statistics.
- The actuators market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
The Global Actuators Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|By Type (2016–2028; US$ Bn)|
|By Application (2016–2028; US$ Bn)|
|By System (2016–2028; US$ Bn)|
|By End- User (2016–2028; US$ Bn)|
|By Geography Segment (2016–2028; US$ Bn)|