North America Linear Actuators Market Analysis, Size, Share, Demand and Growth Opportunities

Posted on 2018-05-14 by Mark Hub in Technology // 0 Comments

Albany, USA, 2018-May-14 — /EPR Network/ —Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Linear Actuators Market – North America Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the Global Linear Actuators market have been elaborated upon in the research report.

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The North America market for linear actuators 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.

Linear Actuators Market in Mexico to Exhibit Strong Growth

From a geographical perspective, the North America linear actuators market is examined for the U.S., Canada, and Mexico. Of these, the U.S. accounted for over two-thirds of the market’s overall revenue in 2015 and is expected to retain its top spot through 2024 as well. The high rate of adoption of industrial automation, the rising demand for wastewater management, and the boom in the shale gas and food and beverages industries have been boosting the application of linear actuators in the U.S. market. These factors will continue to drive the increased demand for linear actuators in the U.S., keeping the country at the top spot in the North America market.

However, the market in Mexico will exhibit the most promising growth over the forecast period, registering a more than 8% CAGR. The rapid growth across the construction and manufacturing sectors witnessed over the past few years is expected to remain one of the key factors responsible for the robust development of the linear actuators market in the country in the near future. Furthermore, rising government investment aimed at improving power supply infrastructure, airports, and pipelines is also expected to boost the demand for linear actuators in Mexico over the forecast period.

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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. The manual and hybrid varieties of linear actuators are also expected to witness promising growth over the said period.

North America Linear Actuators Market: Competitive Dynamics

The competitive landscape of the North America linear actuators market is highly fragmented, with none of the top five players accounting for a share of over 5% in the overall market in 2015.

Some of the leading players in the market are Kollmorgen, Tsubakimoto Chain, Co., DESTACO, Enerpac, Duff-Norton, Joyce Dayton Corporation, MOOG, Inc., PHD, Inc., General Electric, Co., NOOK Industries, Inc., Altra Industrial Motion, Corporation, Parker Hannifin Corporation, Festo Group, Tolomatic, Inc., Rockwell Automation, IAI America, Inc., Fortive Corporation, RACO International, L.P., and Curtiss-Wright Corporation.

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