What is Global Linear Actuators Market?
The Global Linear Actuators Market is a vast and dynamic field that encompasses a wide range of products and services. Linear actuators are mechanical devices that create motion in a straight line, as opposed to the circular motion of a conventional electric motor. They are used in machine tools, industrial machinery, office technology, domestic technology, and in many other areas. The global market for these devices is substantial and continues to grow, driven by increasing demand from various industries. In 2022, the market was valued at a whopping US$ 8449 million and is projected to reach US$ 11150 million by 2029. This represents a compound annual growth rate (CAGR) of 4.0% during the forecast period from 2023 to 2029.
Pneumatic, Electric, Hydraulic in the Global Linear Actuators Market:
The Global Linear Actuators Market is segmented based on the type of actuator, namely Pneumatic, Electric, and Hydraulic. Pneumatic actuators, which use compressed air to generate motion, are the largest segment, accounting for about 60% of the market. Electric actuators, which use an electric motor to produce motion, and hydraulic actuators, which use fluid pressure to generate motion, make up the rest of the market. The top five manufacturers in this market hold a combined market share of about 20%, indicating a highly competitive market landscape.
Oil & Gas, General Industries, Chemical, Power, Others in the Global Linear Actuators Market:
The Global Linear Actuators Market finds application in a variety of sectors including Oil & Gas, General Industries, Chemical, Power, among others. In the Oil & Gas industry, for instance, linear actuators are used in drilling rigs, pump jacks, and other equipment to control the flow of oil and gas. In the General Industries sector, they are used in a variety of machines and equipment for tasks such as lifting, pushing, pulling, and positioning. In the Chemical industry, linear actuators are used in process control systems to regulate the flow of chemicals. In the Power sector, they are used in power plants to control the flow of steam, water, and other fluids.
Global Linear Actuators Market Outlook:
To rephrase the market outlook, the Global Linear Actuators Market, which was valued at US$ 8449 million in 2022, is expected to grow at a CAGR of 4.0% from 2023 to 2029, reaching a value of US$ 11150 million. The market is dominated by Pneumatic actuators, which account for about 60% of the market. The top five manufacturers in this market hold a combined market share of about 20%.
| Report Metric | Details |
| Report Name | Linear Actuators Market |
| Accounted market size in 2022 | US$ 8449 million |
| Forecasted market size in 2029 | US$ 11150 million |
| CAGR | 4.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Parker, Emerson, LINAK, THK, ABB, Flowserve, SKF, IAI, Belimo, Honeywell, Auma, Rotork, Tsubakimoto Chain, Kollmorgen |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
