Actuators Market size was valued at US$ 42.68 Bn. in 2020. The global Actuators Market is estimated to grow at a CAGR of 9.81 % over the forecast period.
An actuator is a part of a device or machine that converts energy (typically electrical, air, or hydraulic) into mechanical force so that it can perform physical movements. To put it simply, it is the component of a machine that allows it to move. Hydraulic and pneumatic forces are frequently used to power the equipment, which can be controlled manually, electronically, or via software. Actuators can move in two directions: linear and rotational.
Introduction of Actuators market:
Each and every insight presented in the report was published by an expert group of Stellar Market Research, which is derived from primary interviews with top officials from leading companies in the domain concerned. The report’s secondary data research methodology includes deep online and offline research and discussion with expert professionals and analysts in the Actuators industry. In the report, Actuators market reports, industry trends have been explained on the macro level, which is expected to help to find an outline market landscape and probable future issues.
Actuators Market Overview:
The SMR Actuators Market report examines the upstream, midstream, and downstream industries' historical and projected growth. The market study goes into detail about the overall market size, overall revenue, and market segmentation. The SMR research thoroughly considers a variety of factors, including current market competition, potential growth barriers, and profiles of key manufacturers, as well as production and consumption by relevant areas.
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Actuators Market Key players:
ABB (Switzerland)
Rockwell Automation (US)
Altra Industrial Motion (US)
Moog (US)
SMC (Japan)
Curtis Wright (Exlar) (US)
MISUMI (Japan)
ZF Friedrichshafen AG (Germany)
HELLA KGaA (Germany)
Continental AG (Germany)
Denso Corporation (Japan)
Delphi Automotive plc (Ireland)
Magna International (Canada)
Borg Warner Inc. (US)
Johnson Electric (Hong Kong)
Nidec Motors & Actuators (Japan)
Eaton Corporation plc (Ireland
Actuators Market Drivers:
The healthcare industry is developing and manufacturing new machines that necessitate the use of actuators. Medical devices that use actuators include wheelchairs, medical beds, patient lifts, treatment chairs, dental chairs, and CT, MRI, and PT scanning equipment. The expansion of healthcare facilities and the rise in the senior population are driving the global healthcare actuators market. The number of hospitals in countries such as the United States, India, and China is constantly increasing.
Actuators Market Segmentation:
The Actuators Market is divided into two categories: linear and rotary. In 2020, the Linear segment held a 63.88% market share. The growing use of linear motion actuators in packing machines, medical equipment, production machinery, transportation, and aerospace and defense industries around the world is driving segment growth. Some of the major factors driving the actuator market growth for linear actuators are rising demand for fuel-efficient vehicles, stringent environmental regulations, rising automation in emerging economies, and the growing need to improve combustion control, increase reliability, and reduce production costs in manufacturing sectors.
Prime Reasons to purchase a Actuators Market report:
The goal of the Actuators market report is to help consumers to gain more information and a clearer understanding of the industry. The Actuators market growth analysis includes development trends, competitive landscape analysis, investment plan, business strategy, opportunity, and key regions development status for international markets.
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Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business.
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Mar 03, 2023
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