Dublin, Nov. 23, 2018 (GLOBE NEWSWIRE) -- The "Global Actuator Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The actuator market will register a CAGR of almost 6% by 2023.

Technological advancements have led to the development of smart actuators. The implementation of automation in industries have resulted in the increasing use of data analytics which help in identifying different process variables that influence a production process. This have prompted vendors to focus on the development of smart actuators which can be used as field devices. These smart actuators are integrated with sensors and electronic components which enhance their data monitoring and capturing capabilities.

Smart actuators can also be linked with robots. For instance, MOOG is offering a lightweight hydraulic smart actuator integrated with control electronics, servo valves, and onboard sensors. Thus, the emerging market of smart actuators is identified as a key trend that will boost the growth of actuator market during the forecast period.

Market Overview

Increased plant safety and regulations in industries

Industrial premises are prone to accidents due to the presence of complex machinery. Industries also cause considerable damage to the environment as they generate and discharge hazardous waste. This have led to the formulation of stringent safety rules and regulations for industries to reduce their emissions and improve safety. End-user industries are demanding high-quality and technologically advanced industrial actuators which help in improving efficiency and reducing emissions. This will boost the growth of the actuator market during the forecast period.

Prevailing fluctuations of raw material prices

Direct material cost comprises of more than half of total cost of manufacturing cost of actuators and valves. Any fluctuations in the prices of raw materials such as copper, stainless steel, aluminum, brass, bronze, and cast iron, affects the profit margins of actuator manufacturers. Since these raw materials are also used by other industries, any change in demand from these industries will impact the raw material price for actuator vendors. This will hamper the growth of the actuator market during the forecast period.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including Emerson Electric, and Flowserve the competitive environment is quite intense. Factors such as the increased plant safety and regulations in industries, will provide considerable growth opportunities to actuator companies. Emerson Electric, Flowserve, ITT, Rotork, SAMSON, and SMC Corporation are some of the major companies covered in this report.

Report Summary:

There has been an increasing demand for smart actuators which have improved data capturing and monitoring capabilities. This will drive the growth of the actuator market during the forecast period.

According to the report, one of the major drivers for this market is the increased plant safety and regulations in industries. This have created a demand for high-quality actuators from process industries and boosted the growth of the actuators market.

Further, the report states that one of the major factors hindering the growth of this market is the prevailing fluctuations of raw material prices. This instability in the prices of raw material affects the profit margins of actuator companies and thereby hampers market growth.

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2018
• Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

• Market segmentation by product
• Comparison by product
• Electric - Market size and forecast 2018-2023
• Pneumatic - Market size and forecast 2018-2023
• Hydraulic - Market size and forecast 2018-2023
• Mechanical - Market size and forecast 2018-2023
• Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: MARKET SEGMENTATION BY END-USER

• Market segmentation by end-user
• Comparison by end-user
• Oil and gas - Market size and forecast 2018-2023
• Chemical - Market size and forecast 2018-2023
• Power - Market size and forecast 2018-2023
• W&WW - Market size and forecast 2018-2023
• Metals - Market size and forecast 2018-2023
• Others - Market size and forecast 2018-2023
• Market opportunity by end-user

PART 09: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• EMEA - Market size and forecast 2018-2023
• APAC - Market size and forecast 2018-2023
• Americas - Market size and forecast 2018-2023
• Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 12: MARKET TRENDS

• Emerging smart actuators
• Development of valve positioner technology
• Rising remote control solutions for actuators

PART 13: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 14: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Emerson Electric
• Flowserve
• ITT
• Rotork
• SAMSON
• SMC Corporation

PART 15: APPENDIX

For more information about this report visit https://www.researchandmarkets.com/research/x3m5kk/global_actuator?w=12

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Related Topics: Machine Parts