(PRWEB) May 18, 2014
According to a new market research report of "Global Actuators Market by Application (Industry, Health care, Automobile, Aerospace & Defense, Marine and Mining), & by Geography (Asia-Pacific, Europe, Latin America, North America, the Middle East, and Rest of the world) - Forecast Analysis (2014 -2019)", Global Actuators Market is expected to grow at a CAGR 8.00% to reach $59.32 Billion by 2019 and Actuators Market in Europe is estimated to grow at a CAGR of 6.00% to reach $8.67 Billion in 2019.
Browse more than 72 market data tables with 14 figures spread through 147 pages and in-depth TOC on "Global Actuators Market."
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The global actuators market is mainly driven by the growing industrialization in the developing countries. The rising demand of vehicles, metals, minerals processed goods and technology advancement are identified as the other driving factors. North America is by far the largest market for actuators mainly, because there is sustaining growth in aerospace and defense actuators market, and major players such as Honeywell, Moog, SAAB, Parker Hannifin, etc. are based out in this area. Booming industrialization in countries such as Mexico creates substantial demand for actuators with respect to machinery therefore growth of actuators market, will remain stable in next five years for this region.
The actuators market is segmented based on product, application, and geography. The market of electrical actuator is expected to grow at a CAGR of 13.32% during the forecasted period. Higher efficiency and controlled output are fueling the growth of electrical actuators over hydraulic and pneumatic actuators globally.
The current trend of the market is the technology advancement in actuators, which will increase the efficiency and effectiveness of the product.
Latest technology advancements in the actuators market are as follows: Electric actuators are expected to replace hydraulic and pneumatic actuators used in health care industry due to its reliability, operational effectiveness, and provide superior motion control in critical, life-saving applications.
Latest technology in piezoelectric actuators offers number of advantages regarding precise control of medical device application. These actuators are more compact, require lower voltage, deliver higher torque and generate less heat.
Application wise actuators market is segmented into industrial, automobile, health care, aerospace and defense, marine, and mining. Industrial sector is the largest revenue generating sector in this market and it is expected to grow at a CAGR of 8.00%. Growing demands for vehicles, metals, and minerals, are likely to amplify the overall market base of the actuators market in automobile, marine, and mining sector globally.
Economical crises have strongly affected the manufacturing sector of European market, hence there is decline in industrial output. However, the actuators market in Europe is estimated to grow at a CAGR of 6.00% to reach $8.67 billion in 2019. Asia-Pacific is one of the fastest growing regions in actuators market. Major industrialization is in progress in this area.
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The global actuators market report provides in depth analysis of drivers, challenges, restraints, and opportunities impacting the industry. It also discusses about the industry, market, and technology trends that are currently prevailing in the global actuators market. It tracks, analyzes, and lays out the market size of the major sub sectors in each region. It provides information about the leading competitors in the global actuators market. Apart from a general overview of the companies, it also provides details on their financial positions, key products, their unique selling points, and key developments. This research report also segments the market on the basis of sub sectors such as industry, automobile, aerospace and defense, health care, marine and mining.
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