The actuators market is projected to grow at a CAGR of 4.90% from 2017 to 2022
The actuators market is projected to grow from an estimated USD 38.80 billion in 2017 to USD 49.28 billion by 2022, at a CAGR of 4.90% from 2017 to 2022. Technological advancements in actuators, increased investments in process automation across end-use verticals, and increase in the number of aircraft deliveries are the key factors driving the growth of the actuators market. However, volatility in the oil & gas market is one of the restraints for the actuators market during the forecast period.
Based on type, the linear actuator segment is estimated to account for the largest share of the actuators market in 2017
Based on type, the linear actuator segment is estimated to account for the largest share of the actuators market in 2017. The growth of this segment of the market can be attributed to the significant growth in the automotive industry. Linear actuators are used primarily in automation applications in a wide range of industries where machine components and tools, among others require linear positioning.
The Asia Pacific region is estimated to account for the largest share of the actuators market in 2017
The Asia Pacific region is estimated to account for the largest share of the actuators market in 2017. The region is also expected to drive global IoT growth over the next 5 years. IoT has been an area of focus in emerging economies, such as India and China. This includes the establishment of smart cities, IoT-specific centers of excellence, which simultaneously are expected to propel the demand for actuators, driving the growth of the Asia Pacific actuators market. The Asia Pacific actuators market is also projected to grow at the highest CAGR during the forecast period.
The breakup of the profiles of the primary participants in this report on the actuators market has been given below:
- 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 - 30%, Europe - 20%, Asia Pacific - 30%, Middle East- 10%, and RoW - 10%
The key players profiled in this report on the actuators market are Emerson (US), Honeywell (US), Moog (US), Rotork (UK), and Pentair (US), among others, and the manufacturers of different types of actuators, such as Parker Hannifin (US), ABB (Switzerland), Cameron (US), SMC (Japan), and Eaton (Ireland), among others.
The market study segments the actuators market based on type (linear, rotary), system (electrical, pneumatic, hydraulic, mechanical, and others), application (end use and industrial), and maps these segments and subsegments across five major regions, namely, North America, Europe, Asia Pacific, Middle East, and Rest of the World (RoW). The report provides in-depth market intelligence regarding market dynamics and major factors, such as drivers, restraints, opportunities, and industry-specific challenges that influence the growth of the actuators market, along with an analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution to the actuators market.
Reasons to Buy the Report:
From an insight perspective, this research report focuses on various levels of analyses, which include industry analysis (industry trends), market share analysis of the top players, supply chain analysis, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high growth segments of the actuators market, high growth regions, and drivers, restraints, opportunities, and challenges for the actuators market.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on different types of actuators offered by the top players operating in the actuators market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the actuators market.
- Market Development: Comprehensive information about emerging markets as the report analyzes the markets for actuators across varied 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, products, and manufacturing capabilities of the leading players operating in the actuators market.