Press release
Major Market Shift in Hydraulic And Electric Linear Actuators Industry: Innovative Industrial Positioning Actuators Enhance Precision And Versatility In Automation
Hydraulic And Electric Linear Actuators Market Size
The market size for hydraulic and electric linear actuators has seen swift expansion in the past few years. Its value is predicted to rise from $68.42 billion in 2024 to $76.04 billion by 2025, presenting a compound annual growth rate (CAGR) of 11.1%. The growth in the previous years has been driven by factors such as the rise in industrial automation, the growing use of linear actuators, surging demand for accurate and controlled linear motion, higher use of hydraulic linear actuators and the increasing need for automated production.
The market for hydraulic and electric linear actuators is set to experience significant expansion in the coming years. The projection is growth to $114.71 billion by 2029, at a Compound Annual Growth Rate (CAGR) of 10.8%. This anticipated surge during the forecast period is due to several factors such as continuous development in industrial automation and robotics, an escalating emphasis on energy efficiency and sustainability, ongoing improvements in linear actuator technology, rising necessity for adaptable and customizable linear actuator solutions, and the broadening use of linear actuators in developing markets. During the forecast period, major trends to look out for include the mechanization of manufacturing, incorporation of IoT innovations, specially tailored linear actuator solutions for each industry's unique demands, steady evolution in actuator technology, and the implementation of automation technologies.
What Factors Are Propelling the Expansion of the Hydraulic And Electric Linear Actuators Market?
The growth of the hydraulic and electric linear actuators market is predicted to be driven forward by the escalating demand for automation. Automation leverages technology to perform tasks or operations independently, reducing human dependence while increasing productivity and consistency. The rising demand for automation is driven by the necessity for improved efficiency, productivity, and cost-effectiveness in manufacturing and business procedures. Hydraulic and electric linear actuators contribute to automation by offering precise, regulated motion and power in machinery, improving industrial process efficiency and precision. For instance, a report published by the International Federation of Robotics, a research organization based in Germany, stated in September 2023 that factories worldwide installed 553,052 industrial robots in 2022, marking a 5% increase from the previous year. Consequently, the upward trend in automation demand is fuelling the growth of the hydraulic and electric linear actuators market.
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Which Businesses Are at the Forefront of Hydraulic And Electric Linear Actuators Market Development?
Major companies operating in the hydraulic and electric linear actuators market are Eaton Corporation plc, Parker Hannifin Corporation, Emerson Electric Co., SKF Group AB, Bosch Rexroth AG, Thomson Industries Inc., Ametek Inc., SMC Corporation, Flowserve Corp., Moog Inc., KYB Corporation, Curtiss-Wright Corporation, Rotork plc, SCHUNK SE & Co. KG., Timotion Technology Co Ltd, Bimba Manufacturing Co, Power-Packer inc., Tolomatic Inc, LINAK AKTIESELSKAB, Kyntronics Inc., Römheld GmbH Friedrichshütte, Actuonix Motion Devices Inc.
What Are the Latest Innovations in the Hydraulic And Electric Linear Actuators Market?
Leading entities in the hydraulic and electric linear actuators sphere are centralizing their efforts on pioneering products like industrial positioning actuators, offering a dependable, adaptable, and easy-to-use solution for regulating motion in a wide array of industrial applications. These positioning actuators assist in accurately managing the position of machinery or elements within an automated system, thus improving precision and productivity during manufacturing and assembly procedures. As an example, Motion Plus LLC, renowned for its precision motion and control solutions based in the USA, launched their product, Motus1 (M1) industrial positioning actuator in May 2023. This industrial linear positioning device incorporates belt and screw drives, making it appropriate for different applications - assembly lines, gantries, handling of materials, packaging, and palletizing to name a few. Complying with ingress protection (IP) 54 norms due to its stainless-steel strip sealing and supplemental seal kit, the M1 actuator proffers reliable motion command. Moreover, its state-of-the-art belt and screw operation mechanism ensures meticulous and high-grade arrangement for industry-based usage.
How Is the Hydraulic And Electric Linear Actuators Market Segmented?
The hydraulic and electric linear actuatorsmarket covered in this report is segmented -
1) By Type: Hydraulic, Electric
2) By Force Capacity: Up To 250 Pounds, 250 Pounds To 1,000 Pounds, Above 1,000 Pounds
3) By Sales Type: Original Equipment Manufacturer (OEM), Aftermarket
4) By End-User Industry: Manufacturing And Industrial Automation, Aerospace, Construction And Heavy Machinery, Oil And Gas, Mining, Automotive, Marine, Power Generation, Renewable Energy, Other End User Industries
Subsegments:
1) By Hydraulic Actuators: Single Acting Hydraulic Cylinders, Double Acting Hydraulic Cylinders, Hydraulic Rodless Cylinders, Hydraulic Power Units, Compact Hydraulic Actuators
2) By Electric Actuators: Screw-Type Electric Actuators, Belt-Driven Electric Actuators, Linear Stepper Motors, Servo Electric Actuators, Electric Rod Actuators.
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Where Is the Hydraulic And Electric Linear Actuators Market Growth Most Prominent?
Asia-Pacific was the largest region in the hydraulic and electric linear actuators market in 2024. The regions covered in the hydraulic and electric linear actuators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Hydraulic And Electric Linear Actuators Global Market Report?
- Market Size Analysis: Analyze the Hydraulic And Electric Linear Actuators Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hydraulic And Electric Linear Actuators Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hydraulic And Electric Linear Actuators Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hydraulic And Electric Linear Actuators Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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