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Global Actuator Market to Rise to $59.32 Billion
It’s no surprise that robotics have been booming in the past few years. Advancements in the field thanks to big name companies, like Google, have solidified the growth for the future. Thankfully, those who work in the field of linear actuators are also slated for some extensive growth over the next while. A report by Research and Markets announced their findings earlier this year and it looks like they’re right on track.
In 2014, the market for actuators on the global stage was said to be worth approximately $37.38 billion. This number is expected to rise by 2019 to $59.32 billion. The market hasn’t seen this much growth in decades, and there’s good reason for it. These advancements are mostly due to a rising demand in the global market and new technology that is coming out in all types of actuators.
Technology advancements are the main motivating factor for this growth spurt. The industry is seeing a great many new products come on the market, especially in composite actuators. The new tech means that the jobs they perform make the processes more efficient, less costly and more versatile.
Electric actuators are one of the biggest items to change the field. The shift from pneumatic actuation, especially in automobiles, has improved performance and quality for many operations. It’s no secret that electric actuator technology has been booming since they first came on the market. Before this, the only way to get this kind of power was to use pneumatics or hydraulics. Electric actuators are challenging every aspect of this, and will continue to do so in the future. Electric actuators can be up to 80% more efficient than their counterparts, making them the ideal choice in some cases for manufacturers.
Some of the biggest challenges that manufacturers are going to face in the future are pricing structure, accommodating rising demand and staying at the head of the pack in terms of R & D. The industry is constantly developing and creating new technologies, making it important to invest the proper amount of time and energy into research.
This type of growth is hardly surprising, consider the number of places we can find actuators on a global scale. Airplanes, cars, manufacturing plants, robotics, furniture, homes and a ton of other places. Once you see how much your life revolves around actuators, it’s easy to understand how and why these components are booming in the industry.
In 2014, the market for actuators on the global stage was said to be worth approximately $37.38 billion. This number is expected to rise by 2019 to $59.32 billion. The market hasn’t seen this much growth in decades, and there’s good reason for it. These advancements are mostly due to a rising demand in the global market and new technology that is coming out in all types of actuators.
Technology advancements are the main motivating factor for this growth spurt. The industry is seeing a great many new products come on the market, especially in composite actuators. The new tech means that the jobs they perform make the processes more efficient, less costly and more versatile.
Electric actuators are one of the biggest items to change the field. The shift from pneumatic actuation, especially in automobiles, has improved performance and quality for many operations. It’s no secret that electric actuator technology has been booming since they first came on the market. Before this, the only way to get this kind of power was to use pneumatics or hydraulics. Electric actuators are challenging every aspect of this, and will continue to do so in the future. Electric actuators can be up to 80% more efficient than their counterparts, making them the ideal choice in some cases for manufacturers.
Some of the biggest challenges that manufacturers are going to face in the future are pricing structure, accommodating rising demand and staying at the head of the pack in terms of R & D. The industry is constantly developing and creating new technologies, making it important to invest the proper amount of time and energy into research.
This type of growth is hardly surprising, consider the number of places we can find actuators on a global scale. Airplanes, cars, manufacturing plants, robotics, furniture, homes and a ton of other places. Once you see how much your life revolves around actuators, it’s easy to understand how and why these components are booming in the industry.
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