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Hydraulic Actuator Market Segmented By product type that is linear actuator and rotary actuator used in oil and gas, construction, metals and mining, aviation, agricultural equipment.
Hydraulic actuators are widely used in various industrial application in order to perform variety of industrial tasks. These are used where high speed and large forces are required for the fluid control applications. Hydraulic actuators are used in industrial fluid process control, employ hydraulic pressure to drive an output, construction, agriculture and mining equipment for excavators, loaders, trucks, tractors and others.
Increasing demand of hydraulic systems in mining, construction, and agricultural equipment are positively affecting the growth of global hydraulic market. In addition, increasing fluid automation in various industry verticals is one of the major driving factors for the use of hydraulic actuators
Hydraulic actuator is a device that helps in automatically closing or opening a valve, hydraulic actuator consists of a cylinder or fluid motor that uses hydraulic power to facilitate mechanical operation. The working media in hydraulic actuator is hydraulic oil.
The major growth drivers of the Hydraulic actuator market include rise in demand from manufacturing industry, utility sector, power generation and mining. Increasing construction and manufacturing and mining activities in various region is expected to drive the growth of global hydraulic actuator market. In addition, rising demand from the developing countries is projected to fuel the growth of hydraulic actuator over the forecast period.
Major challenges of hydraulic actuator market is excessive cost of installation and maintenance. In parallel, worldwide financial uncertainty and macroeconomic situations such as currency exchange rates and economic difficulties are some of the major factors which may hinder the growth of Hydraulic actuator market.
In July 2014, Flowserve Corporation, a U.S. based leading provider of flow control products and services for various industry vertical, announced to launch “Limitorque Hydraulic Scotch yoke (LHS) actuator”.
Some of the major players in global hydraulic actuator market are Flowserve Corporation, Emerson Electric Co., Cameron International Corporation, Siemens AG, Rotork plc. Parker-Hannifin Corporation, Eaton Corporation, Pentair Plc., Bosch Rexroth Group, Wipro Infrastructure Engineering, and SMC Corporation. Other players in global Hydraulic actuator market are 2G Engineering, ATI, Curtiss-Wright, ITT, and Ace Micromatic.
Presently, North America and Asia Pacific (APEC) is holding the largest market share for Hydraulic actuator market due increasing demand from various industries. Moreover, Europe is fastest growing market for Hydraulic actuator market due to increase use in remote control operations and solutions.
Usage of low cost of hydraulic actuators is projected to push the global hydraulic actuator market. The Demand for Hydraulic actuator has risen dramatically over the past 12 months globally.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.