Linear actuator market projected to reach $66.96 billion by 2032, driven by automation and innovation

From GlobeNewswire: 2025-02-20 09:35:00

The Linear Actuator Market was valued at USD 35.57 Billion in 2023 and is projected to reach USD 66.96 Billion by 2032, with a CAGR of 7.3% from 2024-2032. Factors driving growth include automation in factories, demand for precision motion control, and robotics, with semiconductor manufacturing trends influencing demand.

Mechanical actuators led the market in 2023, holding 34% revenue share due to advancements in manufacturing and automation. The hydraulic segment is expected to have the highest CAGR of 9.61% due to the need for high force and speed in industrial activities, leading to innovations in construction, agriculture, and manufacturing applications.

In 2023, the automotive segment accounted for 44% of the revenue share, driven by the need for automation and advanced functions in vehicles. The healthcare segment is expected to be the fastest-growing, driven by the demand for electric actuators in medical devices such as hospital beds, patient lifts, and robotic surgical systems.

North America dominated the linear actuator market in 2023, accounting for 33% of the revenue share, with high adoption of automation in aerospace, automotive, and healthcare sectors. The region’s aging population is increasing demand for mobility aids and medical devices with linear actuators. The Census Bureau predicts a rise in demand for healthcare solutions. Asia Pacific is expected to see the fastest growth in linear actuators market due to increased adoption of electric vehicles and renewable energy sources like solar tracking systems. The market report includes insights on wafer production, chip design trends, and competitive landscape analysis. SNS Insider offers customized research services for market insights and trends.



Read more at GlobeNewswire: Linear Actuator Market to Surpass USD 66.96 Billion by 2032