Dallas, TX -- (SBWIRE) -- 03/05/2014 -- The global actuators market is estimated to be $37.38 billion in 2014, and it is expected to grow at a CAGR of 8.00% to reach $54.93 billion by 2019.
The actuators market overall has numerous competitors in each sector such as industry automobile, health care, aerospace & defense, marine, and mining. The primary market players are from the U.S. and Europe; the players from these regions have the technical know-how and have the capability to bring refreshed applications in the market. The current trend of the market is the technology advancement in actuators, which will increase the efficiency and effectiveness of the product.
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Latest technology advancements in the actuators market are as follows:
Electric actuators are expected to replace hydraulic and pneumatic actuators used in medical industry due to its reliability and operational effectiveness. Latest technology in piezoelectric actuators offers number of advantages regarding precise control of medical device application. These actuators are more compact, required lower voltage, deliver higher torque and generate less heat.
H-bridge TECHLINE introduced actuators with iFLEX technology. It provides features like smooth movement to reduce mechanical stress and ensure long life of actuators.
Recently, AUMA has introduced AC actuators with advanced controls in latest automation technology. The new module provides superior safety integrity level (SIL) capability for industrial sectors.
This report provides a complete analysis of the actuators market for the next five year. It also gives insight in the regional trends for spending and analyzing the market share.
Report includes the in depth analysis of actuation system on the basis of the type of product i.e. hydraulic actuator, pneumatic actuator, electrical actuator, and mechanical actuator. Report also talks about general overview of the companies, their financial analysis, products, services, and the key developments of the leading competitor in the actuator market.
- Global actuators system market is estimated to be $37.38 billion in 2014, and it is expected to grow at a CAGR of 8.00% to reach $54.93 billion by 2019
- Rapidly growing industrialization in blooming economies, increasing demand for efficient transport systems and massive demand for energy, metals, minerals and processed goods act as the major divers for actuators market
- Industrial sector is estimated to grow at a CAGR of 8.00% and recorded as the highest growth area comparing its other competitive sub sectors
- North America and APAC are holding the highest market share with an estimated market size of $7.85 billion and $7.48 billion, respectively
- The key players for this market are concentrated in U.S. and Europe and they are responsible for major innovations and setting up market trends
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