Actuators Market by Type (Pneumatic, Hydraulic, Electric, Mechanical), by Industry Application (Oil & Gas, Power, Chemical, Water & Waste Water, Iron & Steel, Pulp & Paper, Mining, Food & Beverage, Others), by End-Use (Aerospace, Automotive, Defense, Marine) Region (North America, Asia-Pacific, Europe, Middle East, Row) - Global Forecast to 2021
The actuators market is projected to grow from USD 36.63 billion in 2016 to USD 47.72 billion by 2021, at a CAGR of 5.43%. Factors influencing the growth of this market include rise in demand for advanced automation systems worldwide. This factor is also compelling actuator manufacturers to invest in technologically-advanced actuators for advanced automation systems.
Electric actuators in the end user segment to grow at a faster rate in the actuators market globally
Electric actuators in the end user segment market is projected to hold the highest share in terms of value, by 2021. This is due to increase in demand for high power efficiency with low weight actuators worldwide, which will drive the demand for electric actuators globally.
The automotive actuators market in Asia-Pacific is projected to grow at a rapid pace by 2021
The automotive actuators market in the Asia-Pacific region is growing at a faster rate. The increasing demand from the upper middle class for automotive vehicles is driving the actuators market in the region. The growing automotive vehicles market has increased the demand for actuators as the latter is an essential component used in vehicles.
Following is the break-up of primary interviews conducted for research study:
By Company Type - Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
By Designation – C level – 35%, Director level – 25%, and Others – 40%
By Region – North America - 45%, Europe – 30%, APAC – 20%, RoW – 5%
Key players operating in the actuators market include Rotork Plc (U.K.), Pentair Plc (U.K.), Honeywell International Inc. (U.S.), Emerson Electric (U.S.), and Cameron International Corporation (U.S.).
Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis —industry analysis (industry trends, market share analysis of top players, and company profiles), which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the actuators market, high-growth regions and countries, and their respective government regulatory policies, with market drivers, restraints, and opportunities.
The report provides insights into the following pointers:
Market Penetration: Comprehensive information on actuators offered by top 10 players in the actuators market
Product Development/Innovation: Detailed insights on research & development activities, and new product launches in the actuators market
Market Development: Comprehensive information about emerging markets - the report analyzes the markets for actuators market across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the actuators market
Competitive Assessment: In-depth assessment of market shares, strategies and products of leading players in the actuators market
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