- The actuators market is likely to witness expansion at around 8.1 % by the end of 2019. This is due to rapid worldwide urbanization. An actuator is a type of motor responsible for controlling a system or mechanism. It is operated by sources of hydraulic fluids pressure, electric current and pneumatic pressure and converts energy into motion.
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The pivotal factors driving the actuators market are technological developments, rising population and manufacturing plant automation. In addition, extraction of natural resources from challenging sites is likely to propel the market over the coming years. However, competitive pricing and complex supply chain network are likely to hamper the actuators market.
The actuators market can be fragmented into types, applications and geographies. The market, on the basis types, can be fragmented into pneumatic, hydraulic, electric and mechanical. Pneumatic actuators convert generated energy through vacuum or compressed air (at high pressure) into liner motion. Hydraulic actuators consist of fluid motors and cylinders which are used to convert hydraulic power into mechanical procedures.
Electric actuator transforms electric energy to mechanical torque and is powered by motor. Mechanical actuator converts rotary motion into linear motion to facilitate movement. It includes rails, pulleys, gears and chains. The actuators market, for applications, includes automotives, healthcare, aerospace, mining and defense.
North America dominated the market. This was due to rapid growth in aerospace and defense sectors. This region was followed by Asia Pacific and Europe. Asia Pacific is the fastest growing actuators market and is likely to witness further growth. This is as a result of increasing consumer industries, like healthcare, automotive and defense in the region.
Information Source: Grand View Research
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