November 13, 2023 03:32 ET | Source: Transparency Market Research Transparency Market Research
Wilmington, Delaware, United States, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global actuator market was estimated at a value of US$ 40.30 billion in 2020. It is anticipated to register a 7.2% CAGR from 2021 to 2031 and by 2031, the market is likely to attain US$ 86.59 billion by 2031. Electric Actuated Globe Valve
Over the course of the projection period, it is anticipated that growing consumer demand for comfort and safety in cars would drive up demand for sophisticated automotive systems.
A growing demand among automakers for safety features in their vehicles is probably going to lead to a rise in the integration of sophisticated safety and comfort features, which is probably going to lead to a rise in the integration of actuators in vehicles.
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Key Findings of Market Report
Global Market for Actuator: Regional Outlook
Various reasons are propelling the growth of the actuator market in different regions. These are:
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Global Actuator Market: Key Players
Leading companies in the global actuator market are concentrating on growing their market share through joint ventures, partnerships, and mergers and acquisitions. To create more precise, cutting-edge actuators, all of the big manufacturers are aiming to work together with OEMs and Tier 1 manufacturers. Furthermore, in order to strengthen their position in that specific area or nation, manufacturers are concentrating a great deal of attention on new markets for the actuator.
The following companies are well-known participants in the global actuator market:
Few of key developments by the players in this market are:
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