Global Actuators Market to be Driven by the Need to Enhance Productivity in the Forecast Period of 2023-2028

The new report by Expert Market Research titled, ‘Global Actuators Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028’, gives an in-depth analysis of the Global Actuators Market, assessing the market based on its segments like actuation, type, application, and region.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

The key highlights of the report include:

Market Overview (2018-2028)

Historical Market Size (2022): USD 56.18 billion
Forecast CAGR (2023-2028): 7.40%
Forecast Market Size (2028): USD 86.3 billion

The healthcare industry is developing and manufacturing new machines that require actuators. They are utilised in medical devices like as wheelchairs, patient lifts, treatment chairs, dental chairs, medical beds, and CT, MRI, and PT scanning equipment. The expansion of healthcare facilities and the rise in the senior population are driving the worldwide healthcare actuators market. In countries such as the United States, India, and China, the number of hospitals is growing.

Industry Definition and Major Segments

An actuator is a machine component that provides mobility and control over a mechanism or system. Consider the opening of a valve. It necessitates an energy supply as well as a control signal.

Based on their actuation, they can be categorised as:

Electrical
Hydraulic
Pneumatic
Others

On the basis of types, the market is segmented into:

Linear Actuators
Rod Type Linear Actuators
Screw Type Linear Actuators
Belt Type Linear Actuators
Rotary Actuators
Motors
Bladder and Vane
Piston Type

By application, the industry is bifurcated into:

Industrial Automation
Robotics
Vehicles and Equipment
Others

On the basis of region, the market is segmented into:

North America
Europe
Asia
Latin America
Middle East and Africa

Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/actuators-market

Market Trends

Some of the reasons influencing the actuators market growth include the development of innovative and cost-effective actuators, as well as the increased need for robotics and process automation in various industrial segments. The linear category is predicted to expand at the fastest CAGR throughout the projection period. Automation is where linear actuators are most employed. They are employed in a variety of sectors where precise positioning is necessary. Actuator demand has increased dramatically, and this trend is projected to continue during the forecast period.

Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Key Market Players

The major players in the market are Rockwell Automation Inc., Moog Inc., SMC Corporation, Curtis Wright, IMI PLC, Altra Industrial Motion, Tolomatic, Venture Mfg. Co. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.