This report covers the growth prospects of the global actuator market with segmentations based on product types such as pneumatic actuators, hydraulic actuators, and electric actuators. Market shares for key geographies include North America, APAC, Europe, and the ROW. It also includes an insightful analysis of the leading vendors in this market such as Cameron, Emerson Electric, Flowserve, and Pentair.
Technavio’s market research analysts estimate the global actuator market to grow at a CAGR of 4% between 2016 and 2020. Increased investments in automation projects and increase in demand from oil and gas, water and wastewater industries, will majorly influence the growth of actuators market until 2020. North America is the largest market for actuators across the globe. 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 new market research report from Technavio provides a breakdown and analysis of the actuators segments by technology.
“One of the interesting trends emerging in this market is 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. The oil and gas industry in the Middle East and Africa is expected to emerge as one of the most important end-users of actuators, thereby surging a huge demand in the near future,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research
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 electric actuators. This global research report 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.
The key vendors in the global actuator market include Cameron, Emerson Electric, Flowserve, and Pentair. The 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.
A more detailed analysis is available in the Technavio report, Global Actuator Market 2016-2020
We can customize reports by other regions and specific segments upon request.
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