2025 Actuator Market Outlook: Key Indicators Shaping Growth Through 2034

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What Will the Actuator Industry Market Size Be by 2025?
The sector for actuators has undergone robust expansion in the past few years. It is predicted to surge from $58.91 billion in 2024 to $63.93 billion in 2025, representing a compound annual growth rate (CAGR) of 8.5%. Historical growth factors are traced back to the increasing adoption of automation in the manufacturing sector, industrial growth, the expansion of the energy sector, growing demand for healthcare equipment, and the rise of smart buildings and infrastructure.

What's the Long-Term Growth Forecast for the Actuator Market Size Through 2029?
The size of the actuator market is predicted to experience robust growth in the upcoming years, expanding to $90.8 billion by 2029 with a 9.2% compound annual growth rate (CAGR). This growth during the projection period can be credited to factors such as the growth of renewable energy, vehicle electrification, advancement in precision medicine and biotechnology, urban growth and infrastructure advancements, an emphasis on energy efficiency, and the emergence of robotics and automation. Predominant trends for the forecast period encompass the surge in electric actuators, smart actuator advancements, broadening of industrial internet of things (IIoT) integration, growth in robotics and automation, miniaturization as well as the large-scale adoption of pneumatic and hydraulic actuators in industrial applications.

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What Are the Key Growth Drivers Fueling the Actuator Market Expansion?
The burgeoning interest in electric vehicles is playing a significant role in the expansion of the actuator market. Electric vehicles, which are partially or fully powered by electricity, extensively employ actuators to control component motion and fulfill various functions. For example, in May 2022, the Global EV Outlook 2022 report from the France-based International Energy Agency, an autonomous intergovernmental organization, revealed a surge in electric vehicle sales in 2021 that carried on into 2022. Last year saw electric vehicle sales, encompassing entirely electric and plug-in hybrid vehicles, rise to a record 6.6 million. Despite supply chain hurdles, sales growth accelerated in 2022 with the sale of 2 million electric cars worldwide in the first quarter, a 75% jump compared to the same period of the previous year. As of the close of 2021, roughly 16.5 million electric vehicles were on world roads, a fourfold increase from 2018. This increasing interest in electric vehicles, therefore, fuels the future growth of the actuator market.

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What Are the Key Trends Driving Actuator Market Growth?
Key companies in the actuator market are concentrating their efforts on the development and technological enhancements such as intelligent actuators for power transmission and heat regulation in electric vehicles. For instance, in September 2023, a significant development was made by Marelli, an auto parts manufacturing company based in Japan, who introduced a new line of versatile smart actuators. Marelli's advanced actuators ease the operation of complicated vehicle applications, addressing the increasing demand for over 100 actuators in future-oriented cars. These actuators come with a built-in electronic module that independently handles the device while simultaneously connecting it to the automobile's electronic system. They are designed to be adaptable, modular, and scalable, fitting diverse vehicle electronics and transmission configurations. Additionally, software management guarantees smooth integration into vehicle systems.

How Is the Actuator Market Segmented?
The actuator market covered in this report is segmented -

1) By Type: Pneumatic Actuators, Hydraulic Actuators, Electric Actuators, Mechanical Actuators
2) By Motion: Linear Actuator, Rotary Actuator
3) By End User: Automotive, Aerospace, Oil And Gas, Pharmaceutical, Power Generation, Food And Beverages, Chemicals, Mining, Other End Users

Subsegments:
1) By Pneumatic Actuators: Single-Acting Pneumatic Actuators, Double-Acting Pneumatic Actuators
2) By Hydraulic Actuators: Linear Hydraulic Actuators, Rotary Hydraulic Actuators
3) By Electric Actuators: Servo Electric Actuators, Stepper Electric Actuators
4) By Mechanical Actuators: Gear-Based Actuators, Cam-Based Actuators

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Which Companies Are Leading the Charge in Actuator Market Innovation?
Major companies operating in the actuator market include Emerson Electric Co., ABB Ltd., Rockwell Automation Inc., Moog Inc., SMC Corporation, Curtis Wright Corporation, Eaton Corporation Plc, Honeywell International Inc., Rotork Plc, Misumi Group Inc., Cameron International Corporation, Samson AG, Parker Hannifin Corporation, Venture MFG Co., Altra Industrial Motion, Actuonix Motion Devices Inc., Aptiv PLC, AUMA Riester Gmbh & Co. KG, BorgWarner Inc., Continental AG, Denso Corporation, Festo AG & Co. K.G., Flowserve Corporation, GEA Group AG, General Electric Company, Hitachi Ltd., IAV Automotive Engineering, Johnson Controls International PLC, KITZ Corporation, Mecvel Technologies Private Limited, Nidec Corporation, Regal Rexnord Corporation, Robert Bosch GmbH

Which Regions Are Leading the Global Actuator Market in Revenue?
Asia-Pacific was the largest region in the actuator market in 2024. North America was the second-largest region in the actuator market. The regions covered in the actuator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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