The Actuators Market is expected to reach US$ 93.61 Billion in 2028, growing at a CAGR of 8.21% during 2022- 2028, reports Stratview Research.
Raipur, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Actuators Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Actuators market is driven by a host of factors, some of which are noted below:
Increased investment towards process automation across end-use industries.
The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Actuators Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Type (Linear Actuators and Rotary Actuators),
By System Type (Hydraulic Actuators, Electrical Actuators, Pneumatic Actuators, Mechanical Actuators, and Others),
By Application Type (End-Use Application, Industrial Application),
By Region (North America, Europe, Asia-Pacific, and the Rest of the World).
Actuators Market Insights
Market Trends by Type
The market is segmented as linear actuators, and rotary actuators. 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.
Market Trends by 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.
Market Trends by 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.
Which region offers the best opportunity and growth?
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.
COVID-19 Impact on the Actuators Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -
The Emerson Electric Company
Honeywell International Inc.
Parker Hannifin Corporation
Cameron International Corporation
Eaton Corporation Plc.
What deliverables will you get in this report?
In-depth analysis of the actuators market.
Detailed market segmentation.
Competitive landscape analysis.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
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About us –
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