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The Pneumatic actuator segment to grow at a higher CAGR in the
actuators market, among all actuation segments during the forecast
period.
Based on actuation, the Pneumatic actuators segment is projected to grow
at the highest CAGR in the actuators market during the forecast period. The
increasing demand for highly efficient actuators which consume less energy
has fueled the growth of the actuators market. Technological advancements
in pneumatic actuators are enabling availability at lower prices as compared
to other actuator types, which are also more efficient, thus leading to the
increasing demand for pneumatic actuators.
Linear actuators expected to lead the actuators market.
Based on type, the linear actuator segment is expected to lead the actuators
market during the forecast period. The use of linear actuators in a wide
range of industries, such as manufacturing, packaging machines, medical
equipment, production machinery, transportation, aerospace, and defense,
among others is expected to drive the market for actuators. Increasing
demand for industrial automation is contributing to higher demand
for actuators.
Asia Pacific has the highest potential for implementation of
actuators.
Asia Pacific is estimated to account for the actuators market in 2019. Asia
Pacific has witnessed rapid economic development over the past few years,
increasing maritime trade. Electronics and electrical industries, especially in
countries, such as China and Japan, have led to an increase in the demand
for robotics and automation, which, in turn, is leading to rising demand for
actuators. Majority of the industrial robot manufacturing facilities of leading
players are based in the Asia Pacific region and increasing demand for these
industrial robots is leading to a higher demand for actuators in this region.
The major players in the actuators market include Rockwell Automation
(US), Moog (US), Curtiss Wright (US), ABB (Switzerland), Altra Industrial
Motion (US), and SMC (Japan), among others.
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