Actuators Market Research Report, Upcoming Trends, Demand, Regional Analysis and Forecast 2024

According to the latest report by IMARC Group titled, "Actuators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", The global actuators market is expected to grow at a CAGR of around 7% during 2019-2024.

Actuators are mechanical or electro-mechanical devices that convert energy into motion. They generally involve a stator, which is made using a permanent magnet, and a rotor for generating movement in the mechanism. They are manufactured in various shapes and sizes, depending on their application. Actuators are widely utilized in military tanks, cannon carriers, airplanes, helicopters and ships as they can withstand harsh environmental conditions and attacks. Other than this, they are employed in the solar power and construction industries on account of their high durability and flexible controls.

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Different types of actuators are used in high speed automated machines, such as cranes, towing trucks and loading trucks. Owing to industrialization and escalating construction activities, there is a rise in the demand for actuators all around the world. In line with this, increasing investments in the refurbishment of existing power plants are also driving the market growth. Furthermore, actuators are widely employed in industrial robots, which are increasingly being utilized in the automotive industry for improved safety, higher efficiency and increased precision in the production. Besides this, leading manufacturers are introducing innovations, such as elastic rotary actuators, to expand their product portfolio.

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Report Coverage:

Historical, Current and Future Market Trends
Market Breakup by Product:
Linear Actuators
Rod Type
Screw Type
Belt Type
Rotary Actuators
Motors
Bladder and Vane
Piston Type
Market Breakup by Type:
Electric
Pneumatic
Hydraulic
Mechanical
Others
Market Breakup by End Use Industry:
Oil and Gas
Power Generation
Chemicals
Food and Beverages
Metals and Mining
Automotive
Aerospace and Defense
Others
Market Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being Rockwell Automation, Moog Inc., Emersion Electric, ABB, SMC Corporation, IMI PLC, Flowserve, Altra Industrial Motion, Cedrat Technologies, DVG Automation, Festo, MISUMI Group Inc., Harmonic Drive LLC, Kinitics Automation, Venture Mfg. Co., etc.

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