Actuators Market to Reach USD 98.92 Billion by 2029; Venture MFG Co. Presents VID8-A Acme Actuators to Propel Growth

The global actuators market size was USD 41.62 billion in 2021. The market is projected to grow from USD 44.60 billion in 2022 to USD 98.92 billion in 2029 at a CAGR of 12.05% in the 2022-2029 period.

This information is provided by Fortune Business Insights™, in its report, titled, “Actuators Market Size, Share & COVID-19 Impact Analysis, By Motion (Linear and Rotary), By Type (Hydraulic, Pneumatic, Electric, and Others), By End-Use Industry (Aerospace & Defense, Automotive, Construction, Chemicals, Food & Beverages, Healthcare & Pharmaceuticals, Marine, Mining, Oil & Gas, Power Generation and Others), and Regional Forecast, 2022-2029.”

COVID-19 Outbreak Adversely Impacted Actuator Market Owing to Drop in Manufacturing Sector

The COVID-19 pandemic has harmfully swayed the automation industry. Huge companies are experiencing huge financial harms owing to the national lockdown. Previous to the pandemic disturbance, investments in the automation sector have slowed and are currently estimated to be adjourned or on hold for almost a year. Nations throughout the globe had a major inclination of the aerospace, defense, and automotive industry spending towards the healthcare industry to assemble the needed infrastructure services to control the spreading of COVID-19 virus.

Rotork Presents AC version of PAX1 Linear Actuator, set to Make Financial Profits

The extended PAX series is made up of an assortment of linear actuators and motorized regulators. PAX1 units are elastic, lesser voltage actuators that are perfect for usage in remote explosion-proof locations. General uses comprise valve control, pump stroke control, test equipment, and the automation of mechanical spring-loaded pressure regulators. 

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/actuators-market-103531

Rising Commercial Aircraft Deliveries to Navigate Market Growth

Actuators are utilized in numerous aircraft applications such as landing gear, doors, flight controls, seats, and others. Therefore, the increase in novel aircraft production will boost demand in the upcoming years. In the last few years, the considerable financial growth in developing countries such as India, Africa, China, and other established nations has augmented the demand for traveling by air. On account of the surge in air passenger traffic, there is the requirement for rising the aircraft fleet by the airliners. This demand has resulted in an upsurge in commercial aircraft deliveries that in turn is estimated to boost the market growth.

Inventive Product Launches by Prime Players to Boost Market Growth

The fundamental players embrace numerous tactics to bolster their position in the market as dominating companies. One such prime tactic is procuring companies to spur the brand value among users. Another operative strategy is intermittently launching ground-breaking products with a methodical study of the market and its target audience.

Key Industry Development

• January 2020: Venture MFG Co. presented its novel VID8-A Acme actuators, which can be utilized for easy automation in heavy-duty applications. The novel VID8 acme actuators are calculated with the amalgamation of acme screws and DC motor gearboxes to refine performance and proficiency.

List of Key Players Covered in the Report

• ABB (Zurich, Switzerland)


• MISUMI (Tokyo, Japan)


• TAMAGAWA SEIKI Co. Ltd. (Nagano, Japan)


• Moog Inc. (New York, U.S.)


• Eaton Corporation Inc. (Ohio, U.S.)


• Rockwell Automation, Inc. (Wisconsin, U.S.)


• SMC Corporation (Tokyo, Japan)


• Emerson Electric Co. (Missouri, U.S.)


• Parker Hannifin Corporation (Ohio, U.S.)


• Curtiss-Wright Corporation (North Carolina, U.S.)


• Rotork PLC (Bath, U.K.)


• Venture MFG Co. (Ohio, U.S.)

Further Findings

• North America held the largest market share in 2021 with a size of USD 12.87 billion. The growth is accredited to the existence of a well-settled and rising automotive industry and aircraft manufacturing units in the region.


• On the basis of type, the market is categorized into hydraulic, pneumatic, electric, and others. The pneumatic is anticipated to be the largest segment in 2021. The growth is attributed to the surge in demand for pneumatic actuators in oil & gas industries.

Table of Segmentation