What is Global Electric Linear Actuators Market?
The Global Electric Linear Actuators Market is a comprehensive study of the worldwide market trends and growth prospects in the field of electric linear actuators. Electric linear actuators are devices that generate force in a linear motion, as opposed to a rotary motion like an electric motor. They are used in a variety of applications, from industrial machinery to medical equipment. The global market for these devices is vast and diverse, with a wide range of manufacturers and consumers spread across the globe. The market was valued at US$ 1039.9 million in 2022 and is expected to grow to US$ 1449.5 million by 2029, at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2029.
DC Electric Linear Actuators, AC Electric Linear Actuators in the Global Electric Linear Actuators Market:
The Global Electric Linear Actuators Market is segmented into two main types: DC Electric Linear Actuators and AC Electric Linear Actuators. DC Electric Linear Actuators are powered by direct current (DC) and are typically used in applications where speed and precision are required. AC Electric Linear Actuators, on the other hand, are powered by alternating current (AC) and are commonly used in heavy-duty applications where high force is needed. Both types of actuators have their own unique advantages and disadvantages, and the choice between the two often depends on the specific requirements of the application.
Industrial, Medical, Commercial in the Global Electric Linear Actuators Market:
The Global Electric Linear Actuators Market finds its usage in various sectors including Industrial, Medical, and Commercial. In the industrial sector, these actuators are used in a variety of applications such as automation, robotics, and CNC machines. In the medical sector, they are used in medical devices and equipment such as adjustable beds, patient lifts, and wheelchairs. In the commercial sector, they are used in office furniture, retail displays, and other commercial applications. The versatility and efficiency of electric linear actuators make them an essential component in these sectors.
Global Electric Linear Actuators Market Outlook:
The market outlook for the Global Electric Linear Actuators Market is quite promising. As of 2022, the market was valued at US$ 1039.9 million and is projected to reach US$ 1449.5 million by 2029, growing at a CAGR of 4.8% during the forecast period of 2023-2029. North America holds the largest market share of about 32%, followed by Europe with a market share of about 28%. The top three companies in the market hold about 43% of the total market share. This data indicates a healthy and competitive market environment, with plenty of opportunities for both existing players and new entrants.
| Report Metric | Details |
| Report Name | Electric Linear Actuators Market |
| Accounted market size in 2022 | US$ 1039.9 in million |
| Forecasted market size in 2029 | US$ 1449.5 million |
| CAGR | 4.8% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | THK, IAI, Parker, TiMOTION, LINAK, ABB, SKF, Chiaphua Components, Moteck Electric, Honeywell, Auma |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
