The global actuators market is anticipated to grow at 5.23% CAGR during the forecast period. In 2016, the market was led by Americas, with a 33.84% share, followed by Asia Pacific and Europe with shares of 28.45% and 23.37%, respectively. The actuators market has been segmented based on type, application and region. On the basis of type, the market has been segmented as Pneumatic, Electric, Hydraulic, Mechanical, and others. Electric segment accounted for the largest market share of 32.20% in 2016, with a market value of USD 4,355.2 million and is projected to grow at the highest CAGR of 5.61% during the forecast period. Electric actuators are more cost-effective than the others. Electric actuators benefit from cleaner, simpler, and more energy-efficient power transmission. Based on application, automotive segment accounted for the largest market share of 18.13% in 2016, with a market value of USD 2,452.1 million and is projected to grow at the highest CAGR of 6.11% during the forecast period. The increasing demand from the upper middle class for automotive vehicles is driving the actuators market in the Asia-Pacific region. The growing automotive vehicles market has increased the demand for actuators as the latter is an essential component used in vehicles.
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Global Analysis
The global actuators market is segmented into the prominent regions of Americas, Europe, Asia Pacific and Middle East & Africa. Asia Pacific region have the huge potential for the actuators market. The region is also expected to drive global IoT growth over the next 5 years. IoT has been an area of focus in emerging economies, such as India and China. This includes the establishment of smart cities, IoT-specific centers of excellence, which simultaneously are expected to propel the demand for actuators. The Asia Pacific actuators market is also projected to grow at the highest CAGR OF 5.93% during the forecast period. Americas is one of the major regions for the actuators. America’s actuators market holds an enormous potential of growth in the near future. Increasing investments across life sciences, automotive, food processing and packaging segments to revive growth. Hence, America’s actuators market is expected to grow at a CAGR of 5.21%. Europe is one of the major region for electric two-wheeler and has achieved an ample scope due to the presence of profitable countries such as Germany, U.K, and Norway. Additionally, the region is the hub of major are automobile manufacturers such as Audi, BMW, and Volvo among others. This also has the positive influence on the growth of the market. According to ITA Pharmaceuticals Top Markets Report, 2016, countries such as Belgium, Switzerland, United Kingdom, Germany, and Austria are expected to rank as one the leading pharmaceutical exporter in 2016-2017.
An actuator is an equipment, which converts energy into motion. It is basically used to apply a force on an entity to perform various mechanical operations. It is characteristically a mechanical device that takes energy, created by compressed air, electricity or liquid and converts it into various kind of motion, such as linear and rotary. Actuators usually are used in industrial or manufacturing applications and are used in devices such as switches, motor, valves and pumps.
The Key Players of Global Actuators Market Are:
Cameron, a Schlumberger company (U.S.), Eaton Corporation plc (Ireland), The Emerson Electric Company (U.S.), Festo AG & Co. KG (Germany), Flowserve Corporation (U.S.), Honeywell International Inc. (U.S.), KITZ Corporation (Japan), Rotork plc. (Japan), SAMSON AG (Germany), and SMC Corporation (Japan).
Scope of the Report
This study provides an overview of the global actuators market, tracking two market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for Americas, Europe, Asia Pacific and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global actuators market by type, by end-users, and by regions.
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List of Tables
TABLE 1 MARKET SYNOPSIS
TABLE 2 LIST OF ASSUMPTIONS
TABLE 3 GLOBAL ACTUATORS MARKET, BY TYPE, 2017-2023
TABLE 4 GLOBAL ACTUATORS MARKET, BY END-USER, 2017-2023
TABLE 5 GLOBAL ACTUATORS MARKET VALUE ANALYSIS, BY REGION, 2017-2023
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List of Figures
FIGURE 1 GLOBAL ACTUATORS MARKET: MARKET STRUCTURE
FIGURE 2 RESEARCH PROCESS OF MRFR
FIGURE 3 TOP DOWN & BOTTOM UP APPROACH
FIGURE 4 DROC ANALYSIS: GLOBAL ACTUATORS MARKET
FIGURE 5 PORTER’S 5 FORCES ANALYSIS OF GLOBAL ACTUATORS MARKET
Continued…….
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