Actuators Market to 2020 – Market Outlook, Competitive Analysis, Industry Trends By Grand View Research, Inc

The actuators market is expected to witness considerable growth over the forecast period on account of rapid industrialization and urbanization. Increased investments in new infrastructure coupled with an overhaul in the existing plants are expected to play a pivotal role in market growth. Escalating population, manufacturing plant automation, need for extracting natural resources from challenging locations, and technological development are key factors that are expected to propel market growth over the next six years.

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Several industries have stressed on enhancing safety, increasing production precision, and achieving greater efficiency by automating their operations. Increased demand for remote monitoring is expected to spur the actuators market growth. Actuators are used across several verticals including aerospace & defense, automotive, marine & mining, and oil & gas. The oil & gas industry constitutes a major market for actuators owing to their extensive use in numerous applications which include gas & liquid pipelines, gas storage, and Liquefied Natural Gas (LNG). Suppliers face a considerable strain whilst meeting consumer requirements, which may hinder industry growth over the forecast period. Competitive pricing standards may have a bearing on the actuators market growth. The advent of smart water management technology is expected to open up new avenues for the industry in developing markets.

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