Marine Actuators - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Marine Actuators Market is accounted for $3.00 billion in 2018 and is expected to reach $5.38 billion by 2027 growing at a CAGR of 6.7% during the forecast period. Technological developments, and increasing population are the major factors propelling the market growth. However, factors such as competitive standards of pricing, and the ability of the suppliers to meet the requirements of the consumer are hampering the market growth.
Marine Actuators involve complex molecules and hence manufacturing these molecules is a challenge for developers, particularly in with regard to specialized manufacturing facilities and highly skilled technical personnel. This has created lucrative avenues for contract service providers operating in the space.
Based on the product, the pneumatic segment is going to have a lucrative growth during the forecast period owing to the increasing demand for the automation projects in power, chemical, and oil and gas industries will be one of the major factors that will have a positive impact on the growth of the market.
By geography, Europe is going to have a lucrative growth during the forecast period due to the presence of OEMs that deliver high-performance vehicles. Eastern Europe is having a sluggish growth while Western Europe which comprises of countries such as Germany, Italy, France and the U.K. is growing in terms of both market and technology.
Some of the key players profiled in the Marine Actuators Market include AVK Group, Brkert Fluid Control Systems, Curtiss-Wright Corporation, Diakont, Emerson, Flowserve Corporation, Honeywell International Inc., Hunt Valve, IMI PLC., KITZ Corporation, Rockwell Automation, Rotork, Schlumberger, Ultra Motion, and Woodward.
• Fishing Vessels
• Passenger Ships And Ferries
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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