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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.
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.
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.
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: -
The other prominent vendors of the market include ATI, Crane, Curtiss-Wright, Eaton, Honeywell, Moog, Rockwell Collins, Saab, SMC, and Woodward.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
Tags: Actuators Market,
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