The global actuators market is estimated to grow at a CAGR of 8.00% during forecasted period (2014-2019). This report covers all sub-sectors which are interconnected with the actuators market. This study provides a detailed insight of the recent developments and emerging applications along with the market forecast region wise from 2014 to 2019.
The report estimates the current Global Actuators Market at $37.38 billion. Rapidly growing industrialization and increase in the demand for metals, automobiles, and energy will be the driving factors for the Global Actuators Market.
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.
Browse more than 72 market data tables with 14 figures spread through 147 pages and in-depth TOC on "Global Actuators Market"
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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.
Technology Advancement Actuators Market in Industry
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.
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.
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