The hydraulic and electric linear actuators global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Hydraulic And Electric Linear Actuators Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The hydraulic and electric linear actuators market size has grown rapidly in recent years. It will grow from $61.73 billion in 2023 to $68.42 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to growth in industrial automation, increasing adoption of linear actuators, increasing demand for precise and controlled linear motion, increasing utilization of hydraulic linear actuators, and growth in demand for automated production.
The hydraulic and electric linear actuators market size is expected to see rapid growth in the next few years. It will grow to $103.60 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to continued growth in industrial automation and robotics, an increasing focus on energy efficiency and sustainability, ongoing developments in linear actuator technology, rising demand for customizable and versatile linear actuator solutions, and expanding usage of linear actuators in emerging markets. Major trends in the forecast period include automation in manufacturing, integration of IoT technologies, customizable linear actuator solutions tailored to specific industry needs, continuous advancements in actuator technology, and adoption of automation technologies.
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Scope Of Hydraulic And Electric Linear Actuators Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Hydraulic And Electric Linear Actuators Market Overview
Market Drivers –
The increase in demand for automation is expected to propel the growth of the hydraulic and electric linear actuators market going forward. Automation involves the utilization of technology to execute processes or tasks autonomously, reducing reliance on human intervention while enhancing productivity and consistency. The demand for automation is rising due to the need for increased efficiency, productivity, and cost reduction in manufacturing and business processes. Hydraulic and electric linear actuators are used in automation to provide precise, controlled movement and force in machinery, enhancing efficiency and accuracy in industrial processes. For instance, in September 2023, according to a report published by the International Federation of Robotics, a Germany-based organization for robotics research, factories worldwide installed 553,052 industrial robots in 2022, a 5% increase from the previous year. Therefore, the increase in demand for automation is driving the hydraulic and electric linear actuators market.
Market Trends –
Major companies operating in the hydraulic and electric linear actuators market are focusing on innovative products, such as industrial positioning actuators, to provide a reliable, versatile, and user-friendly motion control solution for various industrial applications. Industrial positioning actuators are devices used to precisely control the position of machinery or components in automated systems, enhancing accuracy and efficiency in manufacturing and assembly processes. For instance, in May 2023, Motion Plus LLC, a US-based precision motion and control solutions company, launched the Motus1 (M1) industrial positioning actuator. This industrial linear positioner uses belt and screw drives, making it suitable for various applications such as assembly lines, gantries, material handling, packaging, and palletizing. Compliant with ingress protection (IP) 54 standards, thanks to its stainless-steel strip sealing and optional seal kit, the m1 actuator offers reliable motion control. Its advanced belt and screw drive technology delivers precise and high-quality alignment for industrial uses.
The hydraulic and electric linear actuators market covered in this report is segmented –
1) By Type: Hydraulic, Electric
2) By Force Capacity: Up To 250 Pounds, 250 Pounds To 1,000 Pounds, Above 1,000 Pounds
3) By Sales Type: Original Equipment Manufacturer (OEM), Aftermarket
4) By End-User Industry: Manufacturing And Industrial Automation, Aerospace, Construction And Heavy Machinery, Oil And Gas, Mining, Automotive, Marine, Power Generation, Renewable Energy, Other End User Industries
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Regional Insights –
Asia-Pacific was the largest region in the hydraulic and electric linear actuators market in 2023. The regions covered in the hydraulic and electric linear actuators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the hydraulic and electric linear actuators market are Eaton Corporation plc, Parker Hannifin Corporation, Emerson Electric Co., SKF Group AB, Bosch Rexroth AG, Thomson Industries Inc., Ametek Inc., SMC Corporation, Flowserve Corp., Moog Inc., KYB Corporation, Curtiss-Wright Corporation, Rotork plc, SCHUNK SE & Co. KG., Timotion Technology Co Ltd, Bimba Manufacturing Co, Power-Packer inc., Tolomatic Inc, LINAK AKTIESELSKAB, Kyntronics Inc., Römheld GmbH Friedrichshütte, Actuonix Motion Devices Inc.< /b>
Table of Contents
1. Executive Summary
2. Hydraulic And Electric Linear Actuators Market Report Structure
3. Hydraulic And Electric Linear Actuators Market Trends And Strategies
4. Hydraulic And Electric Linear Actuators Market – Macro Economic Scenario
5. Global Hydraulic And Electric Linear Actuators Market Size and Growth
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32. Global Hydraulic And Electric Linear Actuators Market Competitive Benchmarking
33. Global Hydraulic And Electric Linear Actuators Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hydraulic And Electric Linear Actuators Market
35. Hydraulic And Electric Linear Actuators Market Future Outlook and Potential Analysis
36. Appendix
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