The linear actuators market is driven by several factors, including increased automation in manufacturing, advancements in robotics, the miniaturization of devices, and integration with the Internet of Things (IoT).
WILMINGTON, Del. , Jan. 23, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Linear Actuator Market” by Operation Mechanism (Electric, Pneumatic, Hydraulic, Others), End-Use Industry (Automotive, Construction, Energy and Mining, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023–2032″. According to the report, the global linear actuator industry generated $17.4 billion in 2022 and is projected to reach $31.2 billion by 2032, registering a CAGR of 6.05 % from 2023 to 2032.
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- 258– Pages
- 100 – Tables
- 53 – Charts
Prime determinants of growth
The market for linear actuators is expected to witness substantial expansion during the forecast period. This growth is primarily driven by factors such as increased automation in manufacturing, advancements in robotics, and the miniaturization of devices. In addition, the integration of the Internet of Things (IoT) is expected to further benefit the linear actuator market. However, the high initial investment cost presents a significant restraint to the growth of the linear actuator market during this forecast period.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2022–2032 |
|
Base Year |
2022 |
|
Market Size In 2022 |
$17.4 Billion |
|
Market Size In 2032 |
$31.2 Billion |
|
CAGR |
6.05 % |
|
No. Of Pages In Report |
259 |
|
Segments Covered |
Operation Mechanism, End-Use Industry, And Region |
|
Drivers |
Increased Automation in Manufacturing Advancements In Robotics Miniaturization Of Devices |
|
Opportunities |
Internet Of Things (IoT) Integration |
|
Restraints |
High Initial Investment Cost |
The electric linear actuator segment is anticipated to dominate in terms of revenue during the forecast period
On the basis of operation mechanism, the electric linear actuator segment accounted for over two-fifths of the total revenue in the global linear actuator market in 2022, and it is expected to continue its dominant position throughout the forecast period. It is expected to experience the fastest CAGR of 6.88% from 2023 to 2032. The remarkable growth of this segment is primarily attributed to increase in demand for automation, advancements in technology, and the shift toward energy-efficient and environmentally friendly solutions.
The automotive segment is projected to retain the major share by 2032
On the basis of end-use industry, the automotive segment emerged as the market leader in the global linear actuator market in 2022, holding nearly one-third of the market share. Simultaneously, the same segment is projected to witness the fastest CAGR of 6.92% from 2023 to 2032. This dominance is attributed to the increase in automation in vehicle manufacturing, the rise of electric and autonomous vehicles, and the integration of advanced technology in automotive design.
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Asia-Pacific garnered the major share in 2022
On the basis of region, Asia-Pacific dominated the Linear Actuator Industry revenue in 2022, representing over one-third of the global market share. The same segment is projected to experience the fastest CAGR of 6.98% from 2023 to 2032, due to its extensive manufacturing sector, increased adoption of technology, growth in automation across various industries, rapid expansion of the healthcare sector, and the rising demand for electric vehicles.
Leading Market Players:
- Bosch Rexroth AG
- Emerson Electric Co.
- HepcoMotion Ltd.
- Kollmorgen Corporation.
- LINAK
- Oriental Motor Co., Ltd.
- Parker Hannifin Corporation
- Rockwell Automation
- Thomson Industries, Inc.
- Tolomatic, Inc.
The report provides a detailed analysis of these key players in the global linear actuator market. These players have adopted various strategies, such as product launches, expansion, new product development, geographical expansion, and product upgrade/development, to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
Key Industry Developments:
January 2023 – Thomson Industries introduced a new range of compact linear motion systems designed for small-scale, high-functionality applications. These systems offer customization with components such as integrated stepper motors and linear bearings and feature a 3D modeling tool for optimized design. Ideal for applications such as 3D printers and medical systems, they support various motor sizes, stroke lengths, and load capacities.
June 2022 – Emerson has launched the AVENTICS Series SPRA Electric Actuators, offering three screw technologies for high precision and load capacity. These versatile actuators, ideal for various industries, come in four sizes with multiple mounting options and comply with ISO-15552 standards.
Key Benefits for Stakeholders:
- To provide an accurate view of future investment pockets, this study provides analytical estimates for linear actuator market size along with current trends and estimations.
- In order to be able to achieve a more prominent position, the overall linear actuators market analysis is based on an understanding of prevailing profitability trends.
- The report presents information related to key drivers, restraints, and linear actuator market opportunity with a detailed impact analysis.
- In order to measure financial competence, linear actuator market forecasts shall be quantitatively analysed from 2022 until 2032.
- The Porter Five Force analysis shows that buyers and suppliers are more powerful in the linear actuator market.
- Key vendor shares and linear actuator market trends are included in the report.
Linear Actuator Market Key Segments:
By Operation Mechanism:
- Pneumatic
- Hydraulic
- Others
- Electric
By End Use Industry:
- Automotive
- Construction
- Energy and Mining
- Healthcare
- Others
By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arabia, UAE, South Africa, Rest of LAMEA)
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U.S. Linear Actuator Market : Opportunity Analysis and Industry Forecast, 2022-2032.
Japan Linear Actuator Market : Opportunity Analysis and Industry Forecast, 2022-2032
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