The Latest Actuator Industry Statistics Explained
The global actuator market is estimated to reach $63.2 billion by 2027.
The statistic indicates that the global actuator market is projected to grow significantly, with an estimated value of $63.2 billion by the year 2027. Actuators are devices that convert energy into motion and are commonly used in various industries such as manufacturing, automotive, aerospace, and robotics. This growth projection suggests an increasing demand for actuator technologies worldwide, likely driven by factors such as industrial automation, technological advancements, and the need for more efficient mechanical systems. The forecasted market value of $63.2 billion reflects the substantial economic impact and opportunities within the actuator industry over the coming years.
The market share of electric actuators is projected to reach around 40% by 2025.
This statistic refers to the expected proportion of the market that electric actuators are estimated to capture by the year 2025. Currently, electric actuators are anticipated to constitute a smaller portion of the overall market, but with advancements in technology, changing consumer preferences, and the growing emphasis on sustainability, it is projected that their market share will increase to approximately 40% by 2025. This estimate suggests a significant growth opportunity for electric actuators, indicating a potential shift in the industry towards more energy-efficient and environmentally friendly solutions.
The North America actuator industry was responsible for over 30% of the total market share in 2018.
The statistic indicates that the North America actuator industry held a significant portion of the overall market share in 2018, with its share exceeding 30%. This suggests that the industry in North America played a crucial role in the global actuator market during that year. The high market share implies that North American manufacturers and companies were major players in producing and distributing actuators, which are devices used to control various mechanisms in industrial and consumer applications. The statistic highlights the prominence and influence of the North America actuator industry in the market landscape in 2018.
The Pneumatic Actuator segment commands a significant market share and is estimated to grow at a CAGR of 5.1% during the forecast period 2020-2027.
The statistic indicates that the Pneumatic Actuator segment holds a substantial portion of the market compared to other segments and is expected to experience a compound annual growth rate (CAGR) of 5.1% between 2020 and 2027. This suggests a positive outlook for the pneumatic actuator market, with a forecasted increase in demand for pneumatic actuators over the specified period. The segment’s strong market share is likely driven by factors such as reliability, cost-effectiveness, and the widespread use of pneumatic actuators across various industries. The projected growth rate signifies opportunities for businesses operating in this segment to expand their market presence and potentially capitalize on the anticipated market growth.
The Asia Pacific region is projected to exhibit the highest CAGR in the actuator market during the forecast period.
This statistic indicates that the Asia Pacific region is expected to experience the highest Compound Annual Growth Rate (CAGR) in the actuator market compared to other regions over the forecast period. A higher CAGR suggests that the demand for actuators, which are devices that convert energy into motion, in the Asia Pacific region is projected to grow at a faster rate than in other regions. This could be driven by factors such as increasing industrialization, infrastructure development, and technological advancements in the region, leading to a higher adoption of automation and robotics systems that utilize actuators. As a result, companies operating in the actuator market may find opportunities for business expansion and investment in the Asia Pacific region to capitalize on this growth trend.
The automotive industry accounted for 12.1% of the actuator market share in 2019.
The statistic “The automotive industry accounted for 12.1% of the actuator market share in 2019” indicates that out of all actuator sales in 2019 across various industries, the automotive sector comprised 12.1% of the total market share. This suggests that the automotive industry was a significant player in the actuator market, utilizing these devices for various applications such as controlling systems in vehicles. The percentage serves as a metric to understand the relative importance and influence of the automotive sector within the broader actuator market landscape in 2019.
The oil and gas industry held over 20% share in the global actuator market in 2017.
The statistic stating that the oil and gas industry held over 20% share in the global actuator market in 2017 indicates that this particular sector had a substantial presence and influence within the actuator market during that year. Actuators are devices used to control and automate various processes in machinery and equipment by converting energy into mechanical motion. The fact that the oil and gas industry accounted for more than 20% of the market suggests that they were a significant consumer and user of actuator technology, likely due to the extensive use of machinery and automation in their operations. This statistic highlights the industry’s demand for actuator products and its importance within the global market landscape in 2017.
The rotary actuators market size was $1.5 billion in 2019 and is expected to grow at a CAGR of 3% from 2020 to 2026.
The statistic indicates that the rotary actuators market was valued at $1.5 billion in 2019 and is projected to experience a compound annual growth rate (CAGR) of 3% from 2020 to 2026. This suggests that the market is expected to expand steadily over the specified period, with an incremental increase each year. The estimated growth rate indicates a positive outlook for the industry, likely driven by factors such as technological advancements, increasing demand for automation in various sectors, and the need for efficient motion control solutions. The forecasted CAGR provides insights into the expected trajectory of the rotary actuators market, offering valuable information for businesses, investors, and stakeholders in making informed decisions related to this sector.
Linear electric actuators market is expected to grow at a CAGR of above 4% from 2020 to 2026.
The statement indicates that the market for linear electric actuators is projected to experience a Compound Annual Growth Rate (CAGR) of over 4% between the years 2020 and 2026. This suggests that the demand for linear electric actuators, which are devices used to convert electrical energy into mechanical motion in a straight line, is likely to steadily increase over the specified period. A CAGR of above 4% signifies a positive growth trend in the market, reflecting the anticipated expansion of industries and sectors utilizing these actuators, such as manufacturing, robotics, and automation. This statistic serves as an indicator of the potential growth opportunities and economic viability within the linear electric actuators market segment for investors, manufacturers, and other stakeholders.
The robotic industry represents the fastest-growing segment in the global actuator market with a projected CAGR of around 14.2% during 2020-2027.
This statistic indicates that the robotic industry is experiencing rapid growth within the global actuator market, with a projected compound annual growth rate (CAGR) of approximately 14.2% between 2020 and 2027. This growth rate suggests that the demand and adoption of robotic technologies, which rely heavily on actuators for movement and control, are increasing significantly. The industry’s expansion is likely driven by factors such as advancements in automation, artificial intelligence, and robotics applications across various sectors including manufacturing, healthcare, and logistics. The steady growth projected over the seven-year period signifies a promising outlook for the robotic industry and its role in shaping the future of automation.
European actuator market had a value of around $12.0 billion in 2015 and it’s projected to reach $16.0 billion by 2022.
The statistic indicates that the European actuator market was valued at approximately $12.0 billion in 2015 and is forecasted to grow to approximately $16.0 billion by the year 2022. This implies a projected growth rate of around 33.3% over the seven-year period. This significant growth suggests a positive trend in the demand for actuators in Europe, likely driven by factors such as technological advancements, industrial automation, and increasing applications across various industries. The projected increase in market value reflects potential opportunities for businesses operating in the actuator industry to expand their market share and capitalize on the growing demand for these products in the European market.
Actuators used in commercial aircraft valued at $659.2 million in the United States in 2018.
The statistic indicates that the total value of actuators used in commercial aircraft in the United States in 2018 was $659.2 million. Actuators are components that are crucial for the control and movement of various parts of an aircraft, such as flaps, landing gear, and engines. This statistic highlights the significant investment made by the commercial aviation industry in ensuring the safe and efficient operation of aircraft. The high monetary value attached to these actuators reflects the advanced technology and precision engineering required in the aviation sector, as well as the importance placed on reliability and performance in aircraft systems.
30% of the market share for actuators in 2018 was taken by actuator valves in Canada.
The statistic indicates that in 2018, actuator valves accounted for 30% of the total market share for actuators in Canada. Actuator valves are a specific type of actuator used in various industrial applications to control the flow of liquids or gases through pipelines or other systems. This statistic suggests that actuator valves were particularly popular or in-demand in the Canadian market during that time period, representing a significant portion of the overall market share for actuators. This information could have implications for companies operating in the actuator industry, as it highlights the competitive landscape and preferences of customers in Canada regarding actuator products.
China’s actuator market is projected to have a CAGR of 6.2% from 2021 to 2026.
The statistic “China’s actuator market is projected to have a Compound Annual Growth Rate (CAGR) of 6.2% from 2021 to 2026” indicates that the actuator market in China is expected to grow at a steady pace over the specified time period. The CAGR of 6.2% signifies the average annual growth rate of the market during this five-year period. This projection suggests that there is a positive outlook for the actuator industry in China, with increasing demand for these devices driving market expansion. The CAGR provides a useful metric for understanding the potential growth trajectory and investment opportunities in the actuator market in China over the next few years.
In 2020, the global shipments for linear actuators crossed 150 million units.
The statistic indicates that in the year 2020, the total volume of linear actuators shipped worldwide exceeded 150 million units. Linear actuators are devices commonly used in various industries to convert rotational motion into linear motion, making them essential components in machinery and equipment. The significant number of units shipped reflects a high demand for linear actuators globally, possibly driven by industries such as manufacturing, automotive, healthcare, and robotics. This statistic suggests a thriving market for linear actuators and highlights the crucial role they play in powering a wide range of applications across different sectors.
Germany held over 15% of the European actuator market in 2019.
This statistic indicates that Germany had a significant presence in the European actuator market in 2019, holding a market share of over 15%. Actuators are devices that are used to control or move mechanisms in various industrial applications such as manufacturing, automotive, and aerospace industries. The fact that Germany held such a substantial portion of the market suggests that the country is a key player in the European actuator industry, likely due to factors such as advanced technology, manufacturing capabilities, and market demand. This statistic highlights Germany’s competitive position within the European market for actuators and its importance as a significant contributor to the industry’s growth and development.
In the United States, industrial actuators market is expected to cross $6 billion by 2025.
The statistic that the industrial actuators market in the United States is projected to exceed $6 billion by 2025 indicates significant anticipated growth in this sector over the coming years. Industrial actuators are devices used to control and automate processes in various industries, such as manufacturing, oil and gas, and automotive. The expected increase in market value suggests a growing demand for industrial automation solutions, driven by factors such as technological advancements, increasing adoption of Industry 4.0 practices, and a focus on enhancing operational efficiency and productivity. This statistic reflects a positive outlook for the industrial actuators market in the United States, with opportunities for businesses to capitalize on the expanding market landscape.
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