Actuators Market worth $74.5 billion By 2024

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Actuators Market worth 74.5 billion at a
Compound Annual Growth Rate (CAGR) of 8.6 from
2019 to 2024.
The report "Actuators Market by Actuation
(Electrical, Pneumatic, Hydraulic), Type
(Linear, Rotary), Application (Industrial
Automation, Robotics, Vehicles Equipment),
Vertical (Automotive, Electronics, Healthcare),
and Region - Global Forecast to 2024" The
actuators market is estimated to be USD 49.2
billion in 2019 and is projected to reach USD
74.5 billion, at a Compound Annual Growth Rate
(CAGR) of 8.6 from 2019 to 2024. This market is
driven by factors, such as the increasing
investments in process automation of numerous
industry verticals, rising demand for robots,
and technological advancements in
actuators. Browse 137 market data Tables and 49
Figures spread through 228 Pages and in-depth
TOC on "Actuators Market - Global Forecast to
2024"
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View detailed Table of Content here -
https//www.marketsandmarkets.com/Market-Reports/g
lobal-actuators- market-59465451.html The
Pneumatic actuator segment to grow at a higher
CAGR in the actuators market, among all
actuation segments during the forecast
period. Based on actuation, the Pneumatic
actuators segment is projected to grow at the
highest CAGR in the actuators market during the
forecast period. The increasing demand for
highly efficient actuators which consume less
energy has fueled the growth of the actuators
market. Technological advancements in pneumatic
actuators are enabling availability at lower
prices as compared to other actuator types,
which are also more efficient, thus leading to
the increasing demand for pneumatic
actuators. Linear actuators expected to lead the
actuators market. Based on type, the linear
actuator segment is expected to lead the
actuators market during the forecast period. The
use of linear actuators in a wide range of
industries, such as manufacturing, packaging
machines, medical equipment, production
machinery, transportation, aerospace, and
defense, among others is expected to drive the
market for actuators. Increasing demand for
industrial automation is contributing to higher
demand for actuators. Asia Pacific has the
highest potential for implementation of
actuators. Asia Pacific is estimated to account
for the actuators market in 2019. Asia Pacific
has witnessed rapid economic development over the
past few years, increasing maritime trade.
Electronics and electrical industries, especially
in countries, such as China and Japan, have led
to an increase in the demand for robotics and
automation, which, in turn, is leading to rising
demand for actuators. Majority of the industrial
robot manufacturing facilities of leading
players are based in the Asia Pacific region and
increasing demand for these industrial robots is
leading to a higher demand for actuators in this
region. The major players in the actuators market
include Rockwell Automation (US), Moog (US),
Curtiss Wright (US), ABB (Switzerland), Altra
Industrial Motion (US), and SMC (Japan), among
others. Dont miss out on business opportunities
in Actuators Market. Speak to our analyst and
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