With industry 4.0 and IoT hitting the technology corridors diligently, the growth of smart devices has overcome from being just the spectators. Rapid transformation and the need to apt with several capabilities to collar modern users demand, actuators are evolving more than just a mega-trend.
Latest report projects that the actuators market is estimated USD 38.80 Billion in 2017 to USD 49.28 Billion by 2022, at a CAGR of 4.90% from 2017 to 2022.
The major factor expected to act as a major driver is the increased investment in process automation across end-use verticals. This, in turn, is expected to drive the growth of the actuators market during the forecast period from 2017 to 2022. The actuators market has been segmented based on type, system, application, and region.
Based on type, the actuators market has been segmented into linear and rotary. The linear segment is expected to lead the actuators market in 2017. The rising need by manufacturing industries to improve combustion control, increase reliability, and reduce production costs, along with increased demand for fuel-efficient vehicles, implementation of stringent environmental regulations, and increasing automation in emerging economies are some of the factors expected to drive the growth of the linear actuators market during the forecast period.
Products offered by various companies operating in the actuators market have been listed in the report. The recent developments section of the report provides information on the strategies adopted by various companies between June 2013 and August 2017 to strengthen their positions in the actuators market. Major players in the actuators market include Emerson (US), Rotork (UK), Pentair (US), and Honeywell (US), among others. These companies have a significant geographic reach and distribution channels.
For more : Click here