What Is the Projected Market Size and Growth Rate of the Global Actuator Market?
The actuator market size grew prominently in recent years, expanding from $58.91 billion in 2024 to $63.93 billion in 2025 at a compound annual growth rate (CAGR) of 8.5%. This growth during the historic period can be attributed to factors such as automation in manufacturing, industrialization, energy sector expansion, demand for healthcare equipment, and the rise of smart buildings and infrastructure.
The actuator market is poised to witness robust growth in the forthcoming years and is projected to reach $90.8 billion in 2029, growing at a CAGR of 9.2%. Driving the growth during this forecast period are factors such as renewable energy expansion, electrification of vehicles, advancements in precision medicine and biotechnology, urbanization and infrastructure development, focus on energy efficiency, and the rise of robotics and automation. Other key trends influencing the market growth include the rise of electric actuators, advancements in smart actuators, expansion of industrial internet of things (IIoT) integration, growth in robotics and automation, and the adoption of miniaturization and high-precision actuators in industrial applications.
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What Are the Key Drivers Influencing the Growth of the Actuator Market?
The escalating popularity of electric vehicles plays a significant role in propelling the growth of the actuator market. Electric vehicles, which are either partially or fully powered by electricity, extensively utilize actuators to control component movements and serve various functions. As per the Global EV Outlook 2022 report by the International Energy Agency (IEA), sales of electric vehicles surged in 2021 and continued to grow in 2022, despite supply chain challenges. In 2021, sales of electric vehicles (including completely electric and plug-in hybrid vehicles) totalled 6.6 million – a record high. Sales continued to rapidly expand into 2022, with 2 million electric cars sold worldwide in the first quarter, an increase of 75% from the same period the previous year. By the end of 2021, approximately 16.5 million electric vehicles were on the roads worldwide, a fourfold increase from 2018. Thus, the growing popularity of electric vehicles is propelling the growth of the actuator market.
How Is the Global Actuator Market Segmented?
The actuator market covered in this report is segmented as follows –
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
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Who Are the Major Players in the Actuator Market?
Major companies 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.
What Are the Emerging Trends in the Actuator Market?
Companies in the actuator market are focusing on technological advancements such as the development of smart actuators for transmission and thermal management in electric vehicles. For instance, in September 2023, Marelli, a Japan-based automotive parts manufacturer, unveiled a range of multipurpose smart actuators. These smart actuators, equipped with an integrated electronic module, control the device and connect it to the vehicle’s electronic network. Their flexible, modular, and scalable mechanical design allows them to adapt to different vehicle electronics and transmission setups, while the software management ensures smooth integration into the vehicle’s systems.
Which Region Holds the Largest Share in the Actuator Market?
In 2024, Asia-Pacific held the largest share in the actuator market, followed by North America. The regions covered in the actuator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Actuator Market Report 2025 Offer?
The Actuator Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends and opportunities. An actuator is a device that converts a control signal into mechanical action, such as driving an electric motor, to move or operate a machine. While actuators generally produce circular motion, they can also create linear motion using screws and wheel-and-axle systems.
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