July 17, 2024

Linear Actuator Market Size to Grow USD 112.90 Bn by 2033

The global linear actuator market size is projected to grow around USD 112.90 billion by 2033, growing at a CAGR of 7.77% from 2024 to 2033.

Key Points

  • The North America linear actuator market size was reached at USD 18.69 billion in 2023 and is projected to be worth around USD 39.52 billion by 2033.
  • North America hold the largest share of 35% in 2023.
  • Asia Pacific is expected to grow at the fastest rate during the forecast period.
  • By operation mechanism, the mechanical segment generated largest revenue share of 37% in 2023.
  • By end user industry, the automotive segment held the largest market share in 2023 and is expected to continue this dominance throughout the forecast period.

Linear Actuator Market Size 2024 to 2033

The linear actuator market is witnessing significant growth driven by the increasing automation across various industries such as automotive, healthcare, manufacturing, and aerospace. Linear actuators are electromechanical devices used to convert energy into linear motion, and their versatility makes them essential components in a wide range of applications. With advancements in technology and the growing demand for precise motion control systems, the linear actuator market is poised for substantial expansion in the coming years.

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Growth Factors:

Several factors contribute to the growth of the linear actuator market. One of the primary drivers is the rising adoption of automation in industrial processes to enhance efficiency and productivity. Additionally, the increasing demand for electric vehicles (EVs) and the integration of linear actuators in EV components like electric power steering systems and electric braking systems further propel market growth. Moreover, the development of advanced materials and technologies, such as miniaturization and wireless connectivity, is driving innovation in linear actuator designs, expanding their applicability across diverse industries.

Region Insights:

The linear actuator market exhibits varying dynamics across different regions. North America and Europe dominate the market, primarily due to the presence of established manufacturing industries and high investments in automation technologies. However, Asia-Pacific is expected to witness the fastest growth rate during the forecast period, driven by rapid industrialization, infrastructure development, and the increasing adoption of automation in emerging economies like China and India.

Linear Actuator Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 7.77%
Global Market Size in 2023 USD 53.40 Billion
Global Market Size in 2024 USD 57.55 Billion
Global Market Size by 2033 USD 112.90 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Operation Mechanism and By End-user Industry
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Linear Actuator Market Dynamics

Drivers:

Several drivers fuel the growth of the linear actuator market. The automotive industry stands out as a major driver, with the proliferation of electric vehicles and the demand for advanced motion control systems. Furthermore, the healthcare sector utilizes linear actuators in medical devices such as hospital beds, patient lifts, and surgical equipment, contributing to market expansion. Additionally, the aerospace and defense sector’s increasing focus on precision engineering and automation drives the demand for high-performance linear actuators for applications such as aircraft seating and weapon systems.

Opportunities:

The linear actuator market presents various opportunities for growth and innovation. The integration of Internet of Things (IoT) technology and the development of smart actuators offer new avenues for enhancing efficiency and enabling predictive maintenance in industrial applications. Moreover, the expansion of robotics and automation in emerging sectors such as agriculture and logistics opens up opportunities for the deployment of specialized linear actuators tailored to specific requirements.

Challenges:

Despite the promising growth prospects, the linear actuator market faces certain challenges that need to be addressed. One such challenge is the complexity and cost associated with integrating linear actuators into existing systems, especially in retrofitting applications. Moreover, concerns regarding the environmental impact of manufacturing processes and the disposal of electronic waste pose sustainability challenges for the industry. Additionally, the market is highly competitive, with numerous players offering a wide range of products, intensifying competition and price pressures.

Read Also: IP Camera Market Size to Grow USD 39.80 Billion by 2033

Recent Developments

  • In October 2023, Emerson Electric Co. took over a Swiss-based company specializing in automation solutions and assembly technology, Afag Holding.
  • In December 2022, Bosch Rexroth introduced a new compact, self-contained actuator, CytroMotion, to its product line. This system solution, designed for linear movements with forces up to 110 kN, enables more efficient and sustainable operations in smaller spaces.

Linear Actuator Market Companies

  • Bosch Rexroth AG.
  • Emerson Electric Co.
  • HepcoMotion Ltd.
  • Kollmorgen Corporation.
  • LINAK.
  • Oriental Motor Co., Ltd.
  • Parker Hannifin Corporation.
  • Rockwell Automation.

Segments Covered in the Report

By Operation Mechanism

  • Mechanical
  • Hydraulic
  • Pneumatic
  • Electro-mechanical Actuators

By End-user Industry

  • Automotive
  • Construction
  • Energy & Mining
  • Healthcare
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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