Zion Market Research Actuators Market, 2016–2024 | Page 3

Actuators Market
defense. Various industrial applications where the actuators are used are power, water, and
wastewater, pulp and paper, food and beverages, oil and gas, chemical, iron and steel,
mining and others. The actuators market is diversified into regions such as Asia-Pacific,
Europe, North America, the Middle East and Rest of the World.
Global Actuators Market: Growth Factors
The key factors that are driving the actuators market are industrialization and urbanization.
There is the huge investment made in the infrastructure and renewal of the plants, which is
positively contributing in the growth of the actuators market. The factors such as
technological developments, increasing population, automation of the manufacturing plants,
and extraction of natural resources from difficult locations will act as drivers for the market
growth in the coming years. Many industries are compelling on automating the operations
for greater efficiency, improved safety and increased accuracy in the production. In recent
times, there was a rise in demand for remote monitoring, which also acted as added factor
to the actuators market growth. Various sectors where the actuators are used include oil
and gas, aerospace and defense, automotive, mining and marine. There is a great demand
for the oil and gas industry owing to the growing demand of applications from the sectors
such as gas and liquid pipelines, gas storage and liquefied natural gas. The factor that
hampers the market growth is the competitive standards of pricing and the ability of the
suppliers to meet the requirements of the consumer.
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Global Actuators Market: Regional Analysis