Actuators Market size is expected to grow at a CAGR of 5.2% during the next five years, according to a newly added report by Stratview Research. Increased investment towards process automation across end-use industries is the major factor driving the demand for actuators.
The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in five ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2020-2025.
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As per the report, among different types, The linear actuators segment is expected to dominate the market during the forecast period. The escalating demand for fuel-efficient vehicles, implementation of stringent environmental regulation, increasing automation in emerging economies, and the rising need to improve combustion control, increase reliability, and reduce production cost in manufacturing sectors are some of the major factors that drive the growth of linear actuators in the global market.
Based on the system type, the market is segmented as hydraulic, electrical, pneumatic, mechanical, and other actuators. The electrical actuators dominated the market and is expected to retain the dominance during the forecast period as well. This growth is attributed to the extensive application of electrical actuators in the aviation industry. Electrical actuators play a vital role in controlling systems as they convert electrical signals to mechanical movement.
Based on the application type, the actuators market is segmented as end-use and industrial application. The end-use application segment is projected to register a higher growth in the coming five years. End-use application includes wide array of verticals such as automotive, marine, aerospace, and defense. Growth in this industry verticals is expected to drive the growth of the end-use application.
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Asia-Pacific dominated the actuators market. The region is estimated to drive the Internet of Things in the coming years. India and China are the growth engines of the region owing to increased focus towards IOT.
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The report further mentions about the key manufacturing players The Emerson Electric Company, Honeywell International Inc., Moog Inc., Rotork Plc, Parker Hannifin Corporation, ABB Group, Cameron International Corporation, and Eaton Corporation Plc. who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the Actuators Market that can be helpful for the interested clients in analysing the market and taking right decisions accordingly.
Salient Features of the Report
The report on Actuators Market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
· Market structure,
· Market environment analysis,
· Market trend and forecast analysis,
· Market segment trend and forecast,
· Competitive landscape and dynamics,
· Attractive market segments and associated growth opportunities,
· Emerging trends,
· Strategic growth opportunities for the existing and new players,
· Key success factors
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