“Global Linear Actuator Market to reach a market value of USD 27 Billion by 2030 growing at a CAGR of 6.1%”
The Global Linear Actuator Market size is expected to reach $27 billion by 2030, rising at a market growth of 6.1% CAGR during the forecast period.
Linear actuators enable precise and controlled movement, allowing caregivers to adjust the positioning of patients for comfort and medical care. Thus, the healthcare segment acquired $2,250.0 million in 2022. Linear actuators play a crucial role in diagnostic devices requiring precise movement. For instance, they may be used in positioning imaging equipment components such as X-ray machines, CT scanners, and MRI machines.
Automation involves using various machines and systems to perform tasks with minimal human intervention. It provides controlled and precise movement to different components in automated systems. These are employed in robotic systems, conveyor belts, and other machinery to facilitate smooth and accurate motion, contributing to overall automation efficiency. Additionally, Solar tracking systems utilize linear actuators to modify the placement of solar panels in order to achieve an optimal daily orientation toward the sun. By using linear actuators, solar tracking systems can follow the sun's path, maximizing the exposure of solar panels to sunlight and improving energy efficiency. In the field of wind energy, linear actuators are utilized in the control systems of wind turbines. These actuators are responsible for adjusting the pitch angle of wind turbine blades. By precisely controlling the pitch angle, wind turbines can optimize their performance in varying wind conditions, improving energy capture and overall efficiency. Moreover, linear actuators designed for renewable energy applications are often built to withstand challenging environmental conditions, including exposure to sunlight, wind, and temperature variations. Therefore, these factors will lead to increased demand in the market.
However, the initial investment required for acquiring high-precision or advanced linear actuator systems can represent a substantial portion of a company's capital expenditure. This can deter businesses, especially smaller enterprises with limited financial resources. Smaller businesses often operate on tighter budgets compared to larger corporations. The relatively high upfront costs of advanced linear actuators may limit the accessibility of such technology for smaller enterprises, impacting their ability to invest in automation or improved machinery. This choice might be driven by the desire to keep initial costs down, even sacrificing some advanced features. Hence, these factors can restrain the demand for linear actuators in the upcoming years.
Based on end use, the market is divided into automotive, construction, energy & mining, healthcare, and others. The healthcare segment recorded a considerable revenue share in the market in 2022. The heightened requirement for respiratory support devices and ventilators precipitated an upsurge in the demand for linear actuators. These actuators were essential components in precise movement control and adjustments in respiratory equipment, ensuring optimal functionality and patient care. Linear actuators found extensive use in patient handling systems, contributing to the development of adjustable beds, patient lifts, and transfer devices. These systems aimed to improve patient comfort, ease of caregiving, and overall healthcare operational efficiency. These factors will boost the demand in the segment.
Based on operation mechanism, the market is segmented into pneumatic, hydraulic, electric, and others. The pneumatic segment held a considerable revenue share in the market in 2022. Pneumatic linear actuators are well-regarded for their rapid response and high-speed operation. Industries prioritizing quick and efficient linear motion, such as manufacturing and automation, have increasingly favored pneumatic actuators to enhance operational processes. Owing to these factors, there will be increased demand in the segment.
Free Valuable Insights: Global Linear Actuator Market size to reach USD 27 Billion by 2030
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured the highest revenue share in the market in 2022. The Asia Pacific’s industrial landscape witnessed a growing emphasis on automation across various sectors. Industries such as manufacturing, automotive, and healthcare increasingly adopted automated systems, driving the demand for linear actuators to facilitate precise and controlled movements in various applications. Therefore, the segment will grow rapidly in the upcoming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 17 Billion |
| Market size forecast in 2030 | USD 27 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.1% from 2023 to 2030 |
| Number of Pages | 192 |
| Number of Tables | 290 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Operation Mechanism, End Use, Region |
| Country scope |
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| Companies Included | Emerson Electric Co. Rockwell Automation, Inc., Parker Hannifin Corporation, Bosch Rexroth AG (Robert Bosch GmbH), SMC Corporation, AB SKF, Flowserve Corporation, LINAK A/S, HepcoMotion Ltd., Thomson Industries, Inc. |
By Operation Mechanism
By End Use
By Geography
This Market size is expected to reach $27 billion by 2030.
Automation and industry 4.0 trends are driving the Market in coming years, however, High initial costs of acquiring and implementing restraints the growth of the Market.
Emerson Electric Co. Rockwell Automation, Inc., Parker Hannifin Corporation, Bosch Rexroth AG (Robert Bosch GmbH), SMC Corporation, AB SKF, Flowserve Corporation, LINAK A/S, HepcoMotion Ltd., Thomson Industries, Inc.
The expected CAGR of this Market is 6.1% from 2023 to 2030.
The Electric segment is leading the Market, by Operation Mechanism in 2022; there by, achieving a market value of $10.3 billion by 2030.
The Asia Pacific region dominated the Market, by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $10.2 billion by 2030.
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