Report ID: SQMIG25A2150
Actuators Market Size, Share, Growth Analysis, By Type(Electric Actuator, Hydraulic Actuator, Pneumatic Actuator, Mechanical Actuator), By End Use(Aerospace & Defense, Automotive, Construction, Chemicals), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2150 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|
Tables:
72 |
Figures:
75
Actuators Market Regional Insights
In 2021, North America held the largest market share and dominated the market with market size of USD 12.87 billion.
Also, the Asia Pacific is expected to grow at the highest growth rate due to rapid industrialization and urbanization in this region. It has held a major share in terms of revenue in 2020, as there are major vehicle manufacturers and tier-1 suppliers, which include Robert Bosch GmbH and Continental AG who have advanced research and development facilities, which helps fuel the use of actuators. Also, there is consistent demand for the vehicle in this region. The growing production of vehicles in the region, as well as the availability of the necessary equipment affordable resources, is a contributing factor to the growth of the market in the region. The rapid increase in vehicle sales due to the growth of the company's disposable income has always been an important factor in the investments of major producers in the region. The increase in the number of vehicles on the road in Asia-Pacific, coupled with the profitability presence of manufacturers in the automotive sector, accelerates the market in the region.
Actuators Market Report Snapshots
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