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Global Explosion-proof Electric Motors and Actuators Market 2019-2023 | Development of Smart Actuators to Boost Demand | Technavio

January 10, 2019

LONDON--(BUSINESS WIRE)--Jan 10, 2019-- analysts forecast the global explosion-proof electric motors and actuators market to grow at a CAGR of nearly 5% during the forecast period, according to their latest market research report.

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Technavio has released a new market research report on the global explosion-proof electric motors and actuators market for the period 2019-2023. (Graphic: Business Wire)

Development of smart actuators is one of the major trends being witnessed in the . Actuators are crucial parts of valves, because actuators regulate the valves to control the mass and energy flow. For the past three decades, the basic design of an actuator has remained the same. However, explosion-proof actuators have been upgraded with the help of technological modifications, to endure the hostile working applications in industries

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global explosion-proof electric motors and actuators market is the increasing demand for servo and brushless explosion-proof motors:

Global explosion-proof electric motors and actuators market: Increasing demand for servo and brushless explosion-proof motors

Servo and brushless type of explosion-proof motors are used in a wide range of applications in process and discrete industries such as robotics conveyers compressors and material handling equipment. However, the high demand for explosion-proof servo and brushless motors can be attributed to the increasing application areas of precision motors across harsh environmental conditions in oil and gas, power, chemical and petrochemical, and pharmaceutical industries. The normal servo and brushless motors are under severe threat of explosion while being operated under harsh industrial environments.

According to a senior analyst at Technavio for research on engineering tools, “The need for integrated servo and brushless explosion-proof motors has increased owing to the growing robotic and automation technologies in industries. Majority of these robotics and automation activities are carried out in potentially explosive atmospheres. In such environments, flammable substances such as vapor dust fluids cleaning agents and gases can affect the working of motors.”

Global explosion-proof electric motors and actuators market: Segmentation analysis

The global explosion-proof electric motors and actuators market research report provides market segmentation by product (electric motors and actuators), by end-user (oil and gas, C&P, M&M, and power), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The electric motors segment held the largest market share in 2018, accounting for over 69% of the market. This product segment is expected to dominate the global market throughout the forecast period.

EMEA led the market in 2018, and the region is expected to dominate the market through 2023, however there will be a decrease in its market share.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20190110005353/en/

CONTACT: Technavio Research

Jesse Maida

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UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 01/10/2019 08:00 AM/DISC: 01/10/2019 08:01 AM

http://www.businesswire.com/news/home/20190110005353/en

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