DUBLIN, June 14, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Actuators Market by Type, by Industry Application, by End-Use Region - Global Forecast to 2021" report to their offering.
The actuators market is projected to grow from USD 36.63 Billion in 2016 to USD 47.72 Billion by 2021, growing at a CAGR of 5.43% between 2016 and 2021.
Factors influencing the growth of this market include rise in installation of automated systems in automotive vehicles, along with the increasing need to reduce power consumption in aircraft. The number of aircraft has increased due to rise in air traffic. The actuators market is highly dependent on the number of automotive vehicle launches, and the number of aircraft manufacturing and defense programs being carried out by different countries. This has further resulted in procurement of power-efficient and low weight actuators.
The Asia-Pacific is the most dominant region in the actuators market, as of 2016, followed by North America. The actuators market in Asia-Pacific is also projected to grow at the highest CAGR during the forecast period.
Factors driving the growth of this market include exponential growth in use of automotive vehicles in the region, thereby increasing the demand for effective and technologically-advanced automotive vehicles with power-efficient actuators. On the other hand, recent changes in defense budgets of developing nations for better marine, land and air defense equipment is expected to positively impact the actuators market in the region.
- Cameron International Corporation
- Emerson Electric
- Festo Ag & Co. Kg
- Honeywell International Inc.
- Moog, Inc.
- Pentair PLC
- Rotork PLC
- SAAB AB
- SMC Corporation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Actuators Market, By Type
8 Actuators Market, By Industrial Application
9 Actuators Market, By End Use
10 Regional Analysis
11 Competitive Landscape
12 Company Profiles
For more information visit http://www.researchandmarkets.com/research/3p8h9m/actuators_market
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/actuators-market-worth-usd-4772-billion-by-2021---driven-by-rise-in-air-traffic---research-and-markets-300284245.html
SOURCE Research and Markets