Technavio's market research analyst predicts the global actuator market to post a CAGR of approximately 4% from 2016 to 2020. Increased investments in automation projects will further fuel the demand for actuators during this period. Oil and gas industries, as well as the water and wastewater industries, will majorly influence the demand for actuators until 2020.
This market research report emphasizes on the growing popularity of electric actuators. The major reason behind the rapid growth of this segment lies in its operational efficiency as well as overall cost benefits it offers. Analysts anticipate the oil and gas industry in the Middle East and Africa to emerge as one of the most important end-users of actuators, thereby surging a huge demand in the near future.
Product segmentation and analysis of the actuator market
Pneumatic actuator Hydraulic actuator Electric actuator Compared to the other types, the electric actuator market is likely to see a high growth rate between 2015 and 2020. According to the global research report, the ever-growing need to improve productivity, increase efficiency, and minimize downtime for the control of valves in industrial facilities has largely contributed to the growth of this segment. The forecast also predicts the introduction of many innovative offerings with lifetime service support by the leading vendors in this market. This market is predicted to grow rapidly and gain more market share by the end of 2020.
Geographical segmentation and analysis of the actuator market
North America APAC Europe ROW North America accounted for the largest share of this market in 2015. The extensive presence of a large number of automated plants and facilities in this region drives the market. This regional market is being spurred by the necessity to improve existing facilities and oil and gas exploration.
Competitive landscape and key vendors
The global actuator market is marked by the presence of big international players that offer a wide portfolio of products. Apart from the leading players, the market is fragmented within several regional vendors, especially from the developing nations. However, as actuators need to guarantee precision and reliability in operation that necessitate require heavy investments, the market is mostly dominated by the big international vendors.
Major vendors operating in the market are: -
Cameron Emerson Electric Flowserve Pentair The other prominent vendors of the market include ATI, Crane, Curtiss-Wright, Eaton, Honeywell, Moog, Rockwell Collins, Saab, SMC, and Woodward.
Key questions answered in the report
What will the market size and the growth rate be in 2020? What are the key factors driving the global actuator market? What are the key market trends impacting the growth of the actuator market? What are the challenges to market growth? Who are the key vendors in this market space? What are the market opportunities and threats faced by the vendors in the global actuator market? Trending factors influencing the market shares of APAC, Europe, North America, and ROW. What are the key outcomes of the five forces analysis of the actuator market? Technavio also offers customization on reports based on specific client requirement.
Global Hydraulic Valve Actuators market 2015-2019 Global Pneumatic Valve Actuators market 2015-2019 Global Industrial Valves and Actuators Market 2015-2019
Technavio Announces the Publication of its Research Report – Global Actuator Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Actuator Market: Cameron, Emerson Electric, Flowserve and Pentair
Other Prominent Vendors in the market are: ATI, Crane, Curtiss-Wright, Eaton, Honeywell, Moog, Rockwell Collins, Saab, SMC, and Woodward.
Commenting on the report, an analyst from Technavio’s team said: “Air pollution levels in China have increased due to the use of coal as an energy resource. The country is working to reduce its dependence on coal and switch to cleaner alternatives such as natural gas. Natural gas has low emission characteristics and is cheaper to produce. Reliance on natural gas will propel investment in gas pipeline construction-related projects.”
According to the report, strong demand for control valves from the petroleum, gas, and petrochemical industries will likely drive considerable growth in the global actuator market. The growth of the global oil and gas industry has led to a rise in demand for industrial valves, which has subsequently created demand for control valves and actuators.
Further, the report states that it is a challenge for vendors to consistently deal with price fluctuations to remain competitive, which has a restrictive effect on the growth of the global actuator market.