According to a new report of "Global Actuators Market by Application (Industry, Health care, Automobile, Aerospace & Defense, Marine and Mining) & Geography (Asia-Pacific, Europe, Latin America, North America, the Middle East, and Rest of the world) - Forecast Analysis (2014 -2019)", Global Actuators Market is expected to grow at a CAGR 8.00% to reach $59.32 Billion by 2019 and Actuators Market in Europe is estimated to grow at a CAGR of 6.00% to reach $8.67 Billion in 2019..
Browse more than 72 market data tables with 14 figures spread through 147 pages and in-depth TOC on "Global Actuators Market - Forecast Analysis (2014-2019)"
The Global Actuators Market (2014-2019) report offers detailed analysis of the global actuators market over the next five years. The report also provides the potential market opportunities to enter the industry, using detailed market size forecasts.
The actuators market is segmented based on product, application, and geography. The market of electrical actuator is expected to grow at a CAGR of 13.32% during the forecasted period. Higher efficiency and controlled output are fueling the growth of electrical actuators over hydraulic and pneumatic actuators globally.
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The current trend of the market is the technology advancement in actuators, which will increase the efficiency and effectiveness of the product.
Latest technology advancements in the actuators market are as follows: Electric actuators are expected to replace hydraulic and pneumatic actuators used in health care industry due to its reliability, operational effectiveness, and provide superior motion control in critical, life-saving applications.
Latest technology in piezoelectric actuators offers number of advantages regarding precise control of medical device application. These actuators are more compact, require lower voltage, deliver higher torque and generate less heat.
Application wise actuators market is segmented into industrial, automobile, health care, aerospace and defense, marine, and mining. Industrial sector is the largest revenue generating sector in this market and it is expected to grow at a CAGR of 8.00%. Growing demands for vehicles, metals, and minerals, are likely to amplify the overall market base of the actuators market in automobile, marine, and mining sector globally.
Industrial sector is estimated as the largest revenue generating sector for actuators market. The exploration of new oil and gas fields, with corresponding increase in investment in chemical, pulp and paper, refineries, and pipelines in key growth regions are likely to have positive impact on the actuators market.
Major players in the actuators market are from U.S. and Europe. Asia-Pacific and North American actuators markets are expected to grow at a faster rate than that of Europe. The economic crisis in Europe has strongly affected the industrial sector; hence there is a drop in the industrial output.
India, China, Russia, and Africa are estimated to be the new growth region for the actuators market. In Europe, due to economical crises the manufacturing sector is highly affected; hence, there is drop in the industrial output. However, it is estimated that the actuators market is growing at a CAGR of 6.00% by 2019, due to drastic increase in automation process of food, paper, sugar, and water industries.
The global actuators market is estimated to grow at a CAGR of 8.00% and major a driving factor for this growth would be technology advancement in actuators market.
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