Global Actuator Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Risk and Opportunity Assessment, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
The global market for actuators can potentially obtain a decent growth rate of 5.23% during the forecast period (2017-2023), asserts Market Research Future (MRFR).
Top players in the worldwide market for actuators identified in the MRFR report are –
SMC Corporation (Japan), Festo AG & Co. KG (Germany), Honeywell International Inc. (U.S.), Cameron, a Schlumberger company (U.S.), Eaton Corporation plc (Ireland), KITZ Corporation (Japan), Flowserve Corporation (U.S.), The Emerson Electric Company (U.S.), SAMSON AG (Germany), Rotork plc. (Japan), to mention a few.
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Primary Drivers and Key Barriers
Swift surge in metropolitan cities along with the ballooning of smart cities across the globe are some of the prime factors that have laid a strong foundation for the colossal growth of the global actuator market. Continuous revamping of infrastructural facets like smart mobility, smart buildings, smart transportation, smart security and smart healthcare can offer a number of opportunities to the budding vendors in the actuator market.
Technological advancement and automation of manufacturing plants have also ramped up the demand for the actuators market in recent years. In an attempt to offer greater efficacy, greater precision and safety, more and more industries are now striving to automate all their processes. This is viewed as a significant factor that can thrust the demand for actuators in the following years.
Numerous industries like oil & gas, automotive, marine, mining and aerospace & defense are generating massive demand for actuators. However, among these, the oil and gas industry involves a vast number of applications that use actuators, given the strong demand from gas & liquid pipelines as well as gas storage.
The worldwide market for actuators has been thoroughly analyzed with respect to primary segments like type and application.
The type-dependent segments in the market are Electric, Pneumatic, Mechanical, Hydraulic, and others. Electric was the leading segment in the market with the largest share of 32.20% and was valued at USD 4,355.2 million. The segment shows signs of attaining the highest growth rate of 5.61% in the conjectured timeframe. Electric actuators are more affordable than other types of actuators and generally benefit from simpler, cleaner, and more energy-efficient power transmission.
Given the application segment, automotive, oil & gas, chemicals, aerospace & defense, pharmaceutical, power, food & beverages, water & wastewater, and mining & metals are the primary market segments. Automotive held the biggest share in the market of close to 18.13% in the year 2016 and was estimated at over USD 2,450 million. The segment also has the potential to attain the highest growth rate of 6.11% in the near future., thanks to the surging demand for automotive vehicles among the upper-middle class in the Asia Pacific region. Expanding automotive vehicles market has led to the strong demand for actuators since the latter is a crucial component in vehicles.
The global market for actuators market has been geographically distributed into Europe, the Americas, Asia Pacific (APAC), and the Middle East & Africa (MEA).
APAC has the highest potential to take the leading position in the actuators market, given the massive surge in IoT technology. IoT has been a major focus in developing countries like India and China, including the establishment of smart cities and other IoT-backed centers. The APAC market for actuators can attain the highest growth rate of 5.93% in the following years.
The Americas is one of the most significant markets for actuators and possesses a vast growth potential during the review period. Sizeable investments in sectors like automotive, life sciences, packaging and food processing segments have resulted in elevating the region’s potential to achieve a growth rate of 5.21% during the conjectured timeframe.
Europe is one of the highest gaining markets for actuators, given the surge in the electric two-wheeler sales in recent years. The region exhibits plenty of scope for growth, on account of the presence of strong economies like the United Kingdom (U.K), Norway and Germany. The region also houses a large number of automobile manufacturers like BMW, Volvo, and Audi among others, which leaves a positive impact on the market.
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Table of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Actuators Market, by Type, 2017-2023 (Usd Million)
Table 4 Global Actuators Market, by End-user, 2017-2023 (Usd Million)
Table 5 Global Actuators Market Value Analysis, by Region, 2017-2023 (Usd Million)
Table 6 Americas: Actuators Market Value Analysis, by Region, 2017-2023 (Usd Million)
Table 7 Americas: Actuators Market Value Analysis, by Type, 2017-2023 (Usd Million)
Table 8 Americas: Actuators Market Value Analysis, by End-user, 2017-2023 (Usd Million)
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
Figure 6 Supply Chain Analysis: Actuators Market
Figure 7 Global Actuators Mareket, by Type, 2016 (in %)
Figure 8 Global Actuators Market, by End-user, 2016 (in %)
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