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

Actuators Market Driver

• Vehicle safety regulations and vehicle standards mandated by government & regulatory authorities are prompting automakers to install safety systems in their vehicles, thereby driving the actuator market across the globe.
• Rising demand for in-vehicle comfort systems, attributed to rise in demand for a luxurious and comfortable ride, is anticipated to propel the actuators market. Rising demand for comfort systems is prompting automakers to provide vehicle systems such as power windows, sunroof systems, and HVAC systems. These systems are controlled by actuators. This, in turn, is likely to boost the demand for actuator during the forecast period.

Actuators Market Restraint

• Factors that mask market growth are critical as they can be designed in different curves to seize the profitable opportunities present in the constantly growing market.
• Pandemic has led to shut down the manufacturing and designing facilities, which hamper the vehicle production processes. Also, the transportation channel has been disrupted and the supply chain led to a dearth of raw materials supply which is required for vehicle manufacturing.
• As Electric actuators overheat it tends to own a continuous operation and major changes in operating cycles, though this is rare it may damage the electric components in the actuators. Electric actuators are susceptible to the operating environment. Therefore, unlike pneumatic actuators, they cannot work in a hazardous environment.