Linear Actuators Market to Reach $118B by 2032 Driven by Industrial Automation and Aerospace Growth
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Global hydraulic and electric linear actuators market was valued at $54B in 2022 and is projected to reach $118B by 2032 at a CAGR of 8.1%.
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Rise in industrial automation and surge in applications in healthcare are key drivers of market growth.
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Electric linear actuators account for nearly 75% market share due to cleaner operation and compatibility with automation systems.
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Manufacturing and industrial automation is the largest end-user industry, while aerospace segment to see highest 14.8% CAGR through 2032.
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Asia-Pacific held over one-third of global market share in 2022 and is likely to continue dominating during the forecast period with a 8.9% CAGR.