Electric Actuator Market is driven by Growing Automation across Industries

The electric actuator market has been growing rapidly due to the rising demand for automation across various industries. Electric actuators are electro-mechanical devices that converts electrical energy into mechanical movement and is used to move or control systems and machinery. They are used extensively in industrial valves, motors, dampers, and other automated components. The rising automation and focus on improving operational efficiency has propelled the demand for electric actuators in several industries including oil & gas, energy & power, packaging, metals & mining, and food & beverages. Electric actuators provide benefits like remote operation, noiseless operation, precision control, simple design, and easy maintenance.

The electric actuator market is estimated to be valued at USD 13.96 Bn in 2024 and is expected to reach USD 21.15 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.11% from 2024 to 2031.

Electric Actuator Market -https://www.coherentmi.com/ind....ustry-reports/electr