July 06, 2020
According to the research report titled ‘Global Industrial Actuators Market: Analysis By System, By Motion Type, End User, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) - By Region, By Country, available with Market Study Report LLC, global industrial actuators market is expected to grow substantially by the year 2024.
Growing demand for automation solutions in tandem with swift industrialization in developing economies are driving the industrial actuators market growth. Rapid expansion of industrial base and technological advancements are further aiding the market expansion.
Surging investments in manufacturing processes, which includes expansions, modifications, and modernization of existing production lines or facilities in emerging economies has also enhanced the demand for industrial actuators.
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The findings of the study claim that rapid urbanization and growing electricity demand will amplify the demand for industrial actuators across the globe in the approaching years. Moreover, increasing industrial activities and rising adoption of IIoT (Industrial Internet of Things) technology in manufacturing facilities is favoring the market scenario.
As per system type, global industrial actuators industry is split into pneumatic, hydraulic, mechanical, and electrical. In terms of motion type, the market is divided into rotary and linear. Citing the end-user landscape, the industry is bifurcated into water treatment, power, chemical, and oil & gas segments.
Regionally, worldwide industrial actuators market is classified into Middle East & Africa, Asia-Pacific, Europe, and Americas.
Rotork plc, Valvitalia Group, Pentair plc, Weir Group plc, KITZ Corp., KSB SE & Co. KGaA, Flowserve Corp, Eaton Corporation plc, Honey Well International Inc. and Emerson Electric Corp. among others.