Smart City Projects & Sprouting Infrastructure to Diversify Demand for Actuators
The process of urbanization is in its prime! Swift pace of metropolitanization & ballooning of new smart cities are some of the chief factors paving grounds for colossal growth of actuator market. Revamp of infrastructural facets such as smart buildings, smart mobility, smart healthcare, smart transportation, and smart security are anticipated to provide a myriad of opportunities for the budding players of actuator market to leverage. Technological proliferation & automation of manufacturing plants are also considered as some of the predominant factors to uplift growth of actuators market. In a bid to provide safety, greater efficacy, and greater precision, industries are shifting their focus to automate their processes. This, in turn, is foreseen to provide a significant thrust to the demand for actuators.
The concept of remote monitoring is on its route of gaining striking popularity, standing out as a predominant factor to spur revenues of actuator market. Several industries such as automotive, oil & gas, aerospace & defense, marine, and mining have been projecting extensive demand for actuator. Among all the forenamed industries, oil and gas industry registers for a wide-ranging set of applications involving actuators in the wake of robust demand from gas storage and gas & liquid pipelines. This, in turn, continues to introduce numerous remunerative opportunities apropos of actuators. On the flip side, several discrepancies such as competitive pricing specifications and suppliers’ capability to furnish consumer requirements may evolve as impediments hampering the market growth. Smart water management technology, which has evolved as a favored technology over the past few years, is also apprehended to introduce lucrative avenues in the actuators industry.
Actuators in Conjunction with Amazing Features to Evolve as a Futuristic Imperative
In this age, the conventional technologies driven by electromagnetic force are still playing a pivotal role in motion control of machines like robots. However, in case of advanced machines with high performance specifications, the conventional actuator don’t seem to fit the bill in terms of satisfying the sophisticated demands coming up with regard to actuator. So, integration of highly innovative actuators with advanced features has been recognized as one of the most-anticipated requirements coming from the next generation. Since the recent past, a lot many of developments in conjunction with different varieties of actuators have been observed, which is a favorable sign creating enormous reach for actuators market.
Electromechanical servo-actuator for automation & mechatronics represents a significant breakthrough for customary users of pneumatic cylinders poised to manufacture fast, precise, & compact machines. These actuators are integrated to facilitate reduction of energy consumption coupled with seamless control over all axes in a centralized manner. Market players are making deliberate efforts to introduce actuators which can operate efficiently under conditions of low inertia of components, extreme positioning precision, high work dynamics, high linear speeds, repeatability, and reliability.
Demand for Electrical Actuation Solutions to Reach New Heights
The electrical actuator segment is forecasted to record exponential growth in the actuators market. Electrical actuation systems find applications which are deployed in aircraft are safe to use, require low maintenance, and are easy to reconfigure, when compared with hydraulic and pneumatic actuation systems. This has led to high demand for electrical actuator solutions and is expected to be a predominant driver boosting growth of actuator market. Leading companies such as ITT, which is a diversified manufacturer of highly engineered critical component base & customized technology solutions, has expanded its product offerings by including electric actuator varieties. With burgeoning industry demand for smart as well as programmable actuator products, key companies are realizing the need to expand their current product offerings by including electric actuators in the existing offering framework.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
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