Global Actuators Market to Reach $59.32 Billion by 2019

March 4, 2014
MarketsandMarkets Predicts Actuators Market to Grow at a CAGR of 8%

Industrialization in developing countries, as well as rising demand for vehicles, metals, minerals processed goods and technology advancement are growing the global actuators market.

The market is expected to grow at a CAGR of 8% to reach $59.32 billion by 2019, according to the "Global Actuators Market by Application & Geography - Forecast Analysis (2014 -2019)," by MarketsandMarkets.

North America is the largest market for actuators due to sustained growth in its aerospace and defense actuator markets. Key players include Honeywell, Moog, SAAB and Parker Hannifin. Mexico is next in line with respect to machinery and is predicted to see sustainable growth over the next five years.

Economical challenges have taken a toll on the European manufacturing sector, causing a decline in output. However, growth remains optimistic over the next few years, with an estimated CAGR of 6% to reach $8.67 billion in 2019. Asia-Pacific is one of the fastest growing regions in the actuators market, with major industrialization efforts anticipated to progress growth in years to come.

Sponsored Recommendations

Automation technology continues to advance the capabilities of packaging equipment.This new State of Technology Report from the editors of Control Design covers the ways packaging...
Protecting processes from explosive risks is a matter of life and property. Ensure electrical safety in hazardous locations by installing solutions certified to IEC and NEC standards...
Transform your machine's safety system. Discover how to upgrade with configurable products, scalable designs, and simplified wiring for improved diagnostics and long-term reliability...
Unlock the benefits of ASi with our Engineer’s Guide: Learn how to reduce wiring, cut costs, and improve flexibility in your automation systems.