As per Market Research Future (MRFR)’s analysis, the global actuators market is poised to expand at a CAGR of 5.23% during the forecast period. The growth of the automotive sector is likely to influence the expansion of the market positively through the assessment period. In addition, the shift witnessed towards the electric cars is also expected to expedite the growth of the actuators market over the next couple of Years.
The boosted sales of passenger cars and commercial vehicles is anticipated to augment the market size and valuation in the years to come. The rising investments in technological innovations is prognosticated to unleash new growth opportunities into the actuators market over the next few years.
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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.
By Type: Pneumatic Actuators, Hydraulic Actuators, Electric Actuators, Mechanical Actuators
By End-User: Automotive, Oil & Gas, Aerospace & Defence, Pharmaceutical, Power, Food & Beverages, Chemicals, Water & Wastewater, Mining & Metals
By Region: Americas, Europe, Asia Pacific, Middle East & Africa
Global Actuators Market is segmented, by type as Pneumatic actuators, Hydraulic actuator, Electric actuator and Mechanical actuators. Electric actuator type segment accounted for the largest market share of about 32.2% in 2016, with a market value of more than USD 4,300 million in 2016 and is projected to grow at the highest CAGR during the forecast period. Electric actuators benefit from cleaner, simpler, and more energy-efficient power transmission. Its integration is easier with programmable controls, and maintenance is minimized with no parts replacement or lubrication needed except in extreme conditions. Based on end-user, the market is segmented as Automotive, Oil & Gas, Chemicals, Aerospace & Defense, Pharmaceutical, Power, Food & Beverages, Water & Wastewater, and Mining & Metals. Automotive accounted for the largest market share of about 18.13%, in 2016, with a market value of more than USD 2,450 million; projected to grow at the highest CAGR of 6.11% during the forecast period. The increase in 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.
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.
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Table of Content
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Actuators Market, By Type
7 Global Actuators Market, By End-User
8 Global Actuators Market, By Region
9 Competitive Landscape
10 Company Profiles
11 List of Tables
12 List of Figures
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