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Linear Actuator Market Share, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
Linear Actuator Market Share
According to The Business Research Company's, The linear actuator market size has grown strongly in recent years. It will grow from $37.89 billion in 2023 to $41.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increased automation in manufacturing, advancements in robotics, miniaturization of devices, integration with the internet of things (IoT), rising demand for electric vehicles.
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Market Drivers and Trends:
The rising demand for electric vehicles is expected to propel the growth of the linear actuator market going forward. Electric vehicles (EVs) are vehicles that are powered, either partially or entirely, by electricity stored in rechargeable batteries. The younger generations are often more environmentally conscious and open to new technologies, driving EV adoption. Linear actuators are used in electric vehicles to provide precise control of operations such as backrest adjustments, window positions, and automatic door systems, hence improving passenger comfort and safety. For instance, in April 2023, according to the International Energy Agency, a France-based global research and statistics collection institution, approximately 10 million electric cars were sold globally in 2022, and the electric vehicle market share increased to 14% from 4% in 2020. Therefore, the rising demand for electric vehicles is driving the growth of the linear actuator market.
Major companies operating in the linear actuator market are developing innovative products, such as motus1 (m1) industrial positioning actuator, to better serve customers with advanced features. These actuators convert rotary motion into linear motion for precise positioning in various applications. For instance, in May 2023, Motion Plus LLC, a US-based automation company that manufactures linear actuators, launched the motus1 (m1) industrial positioning actuator. The motus1 is a belt- and screw-driven industrial linear positioner designed for a wide range of applications, including assembly lines, gantries, material handling, packaging, and palletizing. The m1 actuator is ingress protection (IP) 54-compliant owing to its stainless-steel strip sealing and optional seal kit. The m1 actuator provides dependable motion management for industrial applications with its sophisticated belt and screw drive technology ensures accurate and superior-quality alignment control.
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Major Key Players of the Market:
Parker Hannifin Corporation, Emerson Electric Co., Rockwell Automation Inc., Bosch Rexroth AG, SMC Corporation, IAI America Inc., Flowserve Corporation, Tsubakimoto Europe B.V., Kollmorgen Corporation, LINAK A/S, TiMOTION Technology Co. Ltd., ElectroCraft, Rollon Corp., Exlar Automation, Progressive Automations Inc., Lin Engineering Inc., Tolomatic Inc., Fabco-Air Inc., PBC Linear, DUFF NORTON AUSTRALIA, Bishop-Wisecarver Corporation, Helix Linear Technologies, REGNER, Venture Manufacturing Co., Actuonix Motion Devices, Burr Engineering & Development Company, Del-Tron Precision Inc, Moticont, Tusk Direct Inc., ISOTECH INC.
Linear Actuator Market 2024 Key Insights:
• The linear actuator market is expected to grow to $55.03 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• The Impact Of Electric Vehicle Demand On The Growth Of The Linear Actuator Market
• Advancements in Linear Actuator Technology
• North America was the largest region in the linear actuator market in 2023
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