Actuators Market 2021 Analytical Assessment, Key Drivers, Growth and Opportunities to 2030 | Says Kenneth Research

In a recent published report, Kenneth Research has updated the market report for Actuators Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Actuators Market products.

According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion. Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

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Market Analysis
For converting the energy into motion, the actuator equipment is used. It is mainly used for the application of force on a particular entity for performing numerous mechanical operations. The actuator is typically a mechanical device which consumes energy that is created by the compressed air, liquid or electricity by converting it different kinds of motion, like rotary and linear. The actuators are used in various manufacturing or industrial applications. It is also used in various devices such as motor, switches, pumps, and valves. The global actuators market is projected to grow at a rate of 5.23% CAGR during the forecast period (2017-2023).

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The actuators market is significantly determined by the elements, for example, growth in the number of aircraft carriers, persistent development in the automotive industry, and innovative progressions in actuators is moving the market development. Additionally, the growing mechanical base in the Asia Pacific region is highly affecting the development of the market. The actuators market may observer deterrents in development because of the expensive nature of the actuators. However, noise, power consumption, and leaks are the main challenges that are faced by the global actuators market.

Market Segmentation 
The global actuators market has been classified on the basis of its end-user, type, and regional demand. On the basis of its type, the global actuators market has been segmented as Electric, Pneumatic, Mechanical, Hydraulic, and others. Based on its end-users, the market is bifurcated into automotive, Aerospace & Defence, Oil & Gas, Pharmaceutical, Food & Beverages, Water & Wastewater Power, Chemicals, and Mining & Metals. 

Regional Analysis
Geographically, the global actuators market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa. 

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Major Players
The major industry players in the global actuators market include prominent names like Cameron, a Schlumberger company (U.S.), The Emerson Electric Company (U.S.), Eaton Corporation plc (Ireland), Festo AG & Co. KG (Germany), Honeywell International Inc. (U.S.), Flowserve Corporation (U.S.), KITZ Corporation (Japan), SAMSON AG (Germany), SMC Corporation (Japan), Rotork plc. (Japan), among others. 

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Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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