The "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)" published by MarketsandMarkets, Global actuators systems market is estimated to be $37.38 Billion in 2014, and it is expected to grow at a CAGR of 8.00% to reach $59.32 Billion by 2019.
It is mainly driven by the growing industrialization in the developing countries. The rising demand of vehicles, metals, minerals processed goods, and technology advancements are identified as the supplementary driving factors.
North America is by far the largest market for actuators mainly, because there is sustaining growth in aerospace & defense actuators market, and major players such as Honeywell, Moog, SAAB, and Parker Hannifin are from this region.
The Global Actuators Market is segmented by products, which covers hydraulic, pneumatic, mechanical and electrical actuators. It provides an in-depth analysis of different types of actuators used in different domain such as automobile actuators, healthcare actuators, industry actuators, aerospace & defense actuators, marine and mining actuators.
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.
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 by 2019. Asia-Pacific is one of the fastest growing regions in this market due to industrialization.
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