The North America Linear Actuators Market is chiefly driven by the rising adoption of automation across a number of industries, an increased focus on wastewater management, and the flourishing aerospace and defense industry. An exponential rise in shale gas exploration activities in the region is also expected to levy a significant positive impact on the market’s overall development in the next few years.
Transparency Market Research estimates that the market will exhibit a promising 6.9% CAGR over the period between 2016 and 2024. At this rate, the market, which valued at US$2,893.5 mn in 2015, will reach a valuation of US$5,236.6 mn by 2024.
Electric Actuators to Remain Most Promising Product Variety
Of the key varieties of linear actuators available in the North America market, the report examines hydraulic, pneumatic, electric, and mechanical linear actuators. Of these, the segment of electric linear actuators emerged as the most attractive segment, accounting for a 24% of the market in 2015. The rising adoption across industrial automation practices, better flexibility options, and the lower cost of ownership are some of the key factors that helped boost the consumption of electric linear actuators in the North America market. In the near future, the demand for actuators with high power efficiency and low weight will drive the demand for electric actuators.
The demand for electric actuators has also considerably increased in the region owing to the several limitations of mechanical actuators. The rate of replacement of mechanical actuators has considerably increased in the past few years, stimulating the uptake of electric actuators in the region. The segment is also expected to remain the most promising product variety in the North America market in the near future, exhibiting a 7.2% CAGR from 2016 through 2024. Electric actuators are expected to account for a nearly 25% of the overall market by 2024.
This 155 page report gives readers a comprehensive overview of the Linear Actuators Market. Browse through 17 data tables and 13 figures to unlock the hidden opportunities in this market :
This report provides strategic analysis of the North America linear actuators market, and the growth forecast for the period 2016 to 2024. The scope of the report includes competitive analysis of various market segments based on type, end use, and in-depth cross-sectional scrutiny of the North America linear actuators market across countries. Linear actuators refer to actuators which creates linear motion of a machine part or the machine itself. Linear actuators have varied applications, such as in linearly actuated valves, pumps, industrial machinery, vehicular brakes and computer peripherals among others. They can have a very simple mechanism of action, or can be very complex.
Growth in industrial automation, across verticals such as automotive, food & beverage manufacturing, pharmaceutical manufacturing, healthcare and defense among others, has been the primary driver of the linear actuators market in North America. The increasing importance for water and wastewater management has also been boosting the growth of linear actuators market. Increasing population in North America has led to increasing demand for efficient water and wastewater management. With stringent environmental regulations and depleting water resources, the government of North American countries has been stressing on improving water and wastewater management systems.
Growing demand for various types of linearly actuated valves, for increasing energy efficiency, monitoring of quality of wastewater treatment, and also to meet the changing environmental regulations have been further promoting growth of linear actuator valves in North America. Considering the positive impacts of the factors mentioned above, the linear actuators market in North America can be anticipated to grow at a good pace during the forecast period.
North America Linear Actuators Market: Segmentation
On the basis of type, the North America linear actuators market has been segmented into pneumatic, hydraulic, mechanical electric and others. Electric linear actuators have been further divided into ball screw, linear guide, linear table, rod less linear actuator, rod style linear actuator and others. The rod style linear actuator sub-segment has again been divided into helical belt, worm, DC motor and servo motor. The market revenue for linear actuators has been provided in terms of USD million, along with the CAGR for the forecast period from 2016 to 2024.
End use industries covered under this report includes automotive, medical/healthcare, furniture, mining, steel, water & wastewater management, construction, it/semiconductor, military, agriculture, chemical, petrochemical among others. Each of these segments provide market size and forecast for the period 2016 – 2024, highlighting the key trends influencing and challenging factors for each segment. The country wise market analysis gives in-depth analysis of the current trends in different countries including the U.S., Canada and Mexico.