Actuators Market Size, Share, Industry Growth & Analysis, 2029

Chicago, April 28, 2024 (GLOBE NEWSWIRE) — The Actuators Market Size is projected to grow from USD 67.7 Billion in 2024 to USD 94.8 Billion by 2029, at a CAGR of 7.0% during the forecast period. The growing demand for Actuators and the continuous development of new technologies that make forecasting more competent and affordable are projected to propel the Actuators market in the upcoming years. Major actuator manufacturers in this market are based in North America and Europe.

Actuators Companies – Parket Hennifin Corporation (US) and Emerson Electric Co. ltd (US) are the Key Players

To know about the assumptions considered for the study 

Download the PDF Brochure

Major Actuators companies include:

  • SMC Corporation (Japan)
  • Rockwell Automation (US)
  • Curtiss-wright Corporation (US)
  • ABB Ltd (Switzerland)
  • Parker Hennifin Corporation (US).

Emerson Electric Co

Emerson Electric, a major player in the actuators market, prioritizes growth through innovation. This includes developing new products and establishing dedicated technology centers. In February 2022, they introduced the ASCO Series 158 Gas Valve and Series 159 Motorized Actuator. These burner-boiler specific products cater to original equipment manufacturers (OEMs), distributors, contractors, and end users. They provide a novel combustion safety shut-off valve solution, improving safety, reliability, and both flow and control capabilities.

Parker Hannifin Corporation

A key player in the motion control systems market, Parker Hannifin Corporation prioritizes growth through strategic acquisitions and expansions. In October 2019, they completed a significant acquisition – LORD Corporation. This leading manufacturer brought expertise in advanced adhesives, coatings, and complementary vibration and motion control technologies. The combined entity boasts strengthened capabilities in material science, electrification, and aerospace offerings.


ABB is a global leader in automation and power technologies. They offer a diversified product portfolio, including both linear and rotary actuators. With a strong global footprint, ABB generates significant revenue in Europe, followed by the Americas. The company prioritizes research and development, investing heavily in this area as evidenced by their 2022 R&D expenditure of USD 1.1 billion.

Rockwell Automation

Rockwell Automation has extended its capabilities by gaining various long-term contracts from its customers. It aims at entering into new contracts, collaborations, agreements, and acquisitions with leading market players worldwide. For instance, in August 2018, Rockwell Automation received a contract worth USD 50 million from Chile-based National Copper Corporation for the supply of control systems for the Chuquicamata underground mine. This contract included the supply, configuration, and assembly of four mine control systems. In 2018, Rockwell Automation and US-based PTC Inc. entered into a partnership to drive industrial innovations and accelerate the growth of both companies. As a part of this partnership, Rockwell Automation is expected to undertake a USD 1 billion equity investment in PTC Inc.

SMC Corporation

SMC stands out as a prominent manufacturer in the actuator space. Their strength lies in offering a comprehensive range of linear and rotary actuators, catering to diverse industries like automotive, food & beverage, semiconductors, life sciences, and machine tools. While Japan remains a significant revenue source, SMC has established a global presence with manufacturing facilities and sales offices across the US, Europe, and Japan. This geographic diversification helps mitigate potential impacts from market fluctuations in any single region. The company also demonstrates a commitment to innovation by consistently investing in R&D activities, as evidenced by their historical investment percentages.

CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email:

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy