PUNE, India, March 11, 2016 /PRNewswire/ --
Analysts forecast global pneumatic actuators market to grow at a CAGR of 3.66% during the period 2016 - 2020 and for market size calculation, the report considers the revenue generated from sales (of both new and retrofit) and aftermarket services of pneumatic actuators.
Complete report on pneumatic actuators market spread across 42 pages, providing segmentation analysis by product, by end user and geography as well as supported with 25 data exhibits is now available at http://www.sandlerresearch.org/global-pneumatic-actuators-market-2016-2020.html
Pneumatic actuators are equipped with sensors and integrated with other equipment through the IoT. Such integration should enable enterprises to collect useful data on cylinder speed, travel, temperature, and pressure, and the information can be used to optimize production or flag maintenance issues before a component fails completely.
According to the report, advances in process automation across various end-user industries, especially in North America and Europe, are likely to boost the demand for control valves. Pneumatic actuators are used to operate the control valves in various industries. Increased investment in fluid handling systems in refineries and rigs will raise the demand for control valves.
The quarter-turn actuator segment accounted for more than 50% of the market share during 2015 and is expected to retain its market leadership until the end of 2020. Quarter-turn pneumatic actuators operate butterfly, plug, or ball valves, and offer a compact design for double acting and spring return. In pneumatic quarter-turn actuators, a positive failure mode can be easily accomplished by using a spring return. The market for this segment is predicted to grow rapidly as expensive globe control valves are being replaced by cost-effective V-notch ball and butterfly control valves that are operated by quarter-turn actuators.
The following companies are the key players in the Global Pneumatic Actuators Market: Emerson Electric, Flowserve, Pentair and SMC. Other Prominent Vendors in the market are: ATI, Bosch Rexroth, Crane, Eaton, Festo, Parker Hannifin and Rotork. Order a copy of Global Pneumatic Actuators Market 2016 - 2020 research report at http://www.sandlerresearch.org/purchase?rname=51901
End-user segmentation and analysis of the pneumatic actuators market: Chemical and petrochemical, Oil and gas, Power generation, Mining and Others (automotive, foods and beverages, semiconductor, and healthcare)
During 2015, the chemical and petrochemical segment dominated the market, accounting for more than 35% of the market share. The chemical and petrochemical industry is the largest end-user industry in the global pneumatic actuators market. The chemical and petrochemical production capacity have increased owing to the expansion and availability of low-cost and abundant energy from the natural gas and shale extracts, which are also used as feedstock in petrochemical manufacturing. For instance, GAIL India, in collaboration with HPCL, is expected to set up a petrochemical plant with an investment of $5 billion in Andhra Pradesh, India. This project will help the company store imported ethane for making root chemical for adhesives, plastics, resins, and synthetic products. Such developments in APAC are likely to boost the growth of the pneumatic actuators market in the petrochemical and chemical sectors.
Further, the report states that growing demand for electromechanical actuators can pose a threat to market growth. Electromechanical actuators provide precise positioning and control, high-energy efficiency, and have low operating costs. However, pneumatic actuators are inexpensive and generate more force compared to their electromechanical counterparts within the same footprint.
On a related note, the Global Actuator Market 2016-2020 research report says increased investments in automation projects, oil and gas industries, as well as the water and wastewater industries, will majorly influence the demand for actuators until 2020. Compared to the other types, the electric actuator market is likely to see a high growth rate between 2015 and 2020. According to the global research report, the ever-growing need to improve productivity, increase efficiency, and minimize downtime for the control of valves in industrial facilities has largely contributed to the growth of this segment. The forecast also predicts the introduction of many innovative offerings with lifetime service support by the leading vendors in this market. This market is predicted to grow rapidly and gain more market share by the end of 2020. Comprehensive table of contents and more on this research is available at http://www.sandlerresearch.org/toc/global-actuator-market-2016-2020.html
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