July 28, 2020
According the 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 (Americas, Europe, APAC, MEA), By Country, available with Market Study Report LLC, global industrial actuators market is expected to register a healthy growth rate over 2019-2024.
Rising trend of automation across various industry verticals and rapid industrialization in developing nations are the primary growth drivers of global industrial actuators market. Expansion of industrial sites and technological advancements are further expected to augment the industry growth. Additionally, inflowing investment in the manufacturing sector for upgradation of existing facilities and automation of production lines will positively impact the business outlook.
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Besides, transition towards smart factory through integration of Industrial Internet of Thing (IIoT) technology in manufacturing plants and emergence of Industry 4.0 will present new growth opportunities for worldwide industrial actuators market in the forthcoming years.
Notably, industrial actuators have linear and rotary motion, and function on electrical, mechanical, hydraulic, and pneumatic systems. These actuators are prominently used in oil & gas, chemical, water treatment, and power generation industries.
Considering the regional outlook, global industrial actuators market is partitioned into Americas (United States, Canada, Mexico, Brazil), Europe (Germany, Italy, France, and Rest of Europe), Asia Pacific (India, China, Japan, and Rest of APAC), and Middle East & Africa.
Leading players operating in global industrial actuators market are Rotork plc, Valvitalia Group, KSB Group, Pentair plc, Weir Group, KITZ Corp., Flowserve Corp., Eaton Corporation plc, Honeywell International Inc., and Emerson Electric Corp.