Linear Actuators Market in North America is Projected to Reach US$5,236.6 mn by 2024; Rising Focus on Wastewater Management to Play Key Role in Future Growth, Says TMR

ALBANY, New York, October 27, 2016 /PRNewswire/ --

The North America linear actuators market holds an immense promise of growth in the near future. Transparency Market Research estimates that the market will exhibit a promising 6.9% CAGR over the period between 2016 and 2024. If the prediction holds true, the market, with a valuation of US$2,893.5 mn in 2015, will rise to US$5,236.6 mn by 2024. Of the key product varieties, the segment of electric actuators, which currently accounts for over 25% of the market's overall revenue, is expected to remain the most promising over the forecast period. Geographically, the U.S. will continue to hold a prominent share in revenue, but the rate of growth of the Mexico market will surpass that of both the U.S. and Canada.

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Rise in Industrial Automation to Reinforce Demand for Linear Actuators in North America 

The North America linear actuators market is chiefly driven by the favorable rise in industrial automation across all industries such as automotive, oil and gas, fluid, and defense in the region. Industrial automation is largely supported by various types of linear actuators, owing to which, the potential future rise in industrial automation is expected to positively impact the growth of the linear actuators market in North America.

Additionally, the significant rise in demand for efficient water and wastewater management is also predicted to drive the application of a variety of linearly actuated valves at an exponential rate in the region. With the rising stringency of environment sustenance norms, the focus on water conservation and wastewater management is expected to further strengthen in the region in the next few years. This is expected to emerge as a high-impact factor for the future growth prospects of the North America linear actuators market.

Furthermore, the growth region's aerospace and defense industry, where linear actuators have varied applications, is also expected to aid the demand for a variety of linear actuators in North America in the near future. The impact of this factor on market's development is presently medium but is expected to be high during the forecast period.

Browse Regional PR: http://www.europlat.org/north-america-linear-actuators-market.htm

Decline in Manufacturing and Mining Sectors to Keep Demand in Check