Global Hydraulic Actuators Market Size, Trends, and Analysis - Forecasts To 2026 By Product (Linear Actuator, Rotary Actuator and Semi-rotary Actuator), By Application (Agricultural Equipment, Aviation, Construction, Metals & Mining, Oil & Gas), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Hydraulic Actuators Market: Insights
Actuators in general are used as a movement controlling mechanism, hydraulic actuators convert hydraulic energy into linear, oscillatory, or rotary motion. These actuators are present in trucks, excavators, mining equipment, and various large-scale agricultural equipment like tractors and compactors as well. Hydraulic actuators are widely used in the construction and mining industries. The hydraulic actuator market is driven by the increased demand for hydraulic machinery in the construction, mining, and agricultural industries. With advancements in fluid automation technology, the demand for hydraulic actuators is expected to rise during the forecast period. Moreover, the cost-effectiveness of hydraulic actuators over conventional electrical actuators will also have a positive influence on the global demand. Although the construction industry has taken a hit following COVID-19 restrictions, the market is expected to rise and with it, the demand for hydraulic actuators is also expected to rise. Hydraulic actuators use oil as the medium for their operations and any leakage can prove fatal to the machinery and are also a source of contamination. Leakages increase the cost of maintenance and hamper the growth of the hydraulic actuator market.
Hydraulic Actuators Market: By Product
Based on the product, the market is explained into semi-rotary actuators, linear, and rotary. The hydraulic actuator converts hydraulic energy present in its medium, mainly oil to convert it into either of the three linear, rotary, or semi-rotary motion. The linear actuator segment occupies the major chunk of the market between 2021-2026. Linear valves are the most commonly used in industrial applications to control the motion of gates, pinch, and diaphragm valves. Linear hydraulic actuators are one of the most basic actuators applicable to all industries and this drives the market demand for them over the other two types of hydraulic actuators.
Hydraulic Actuators Market: By Application
Based on the application of hydraulic actuators, the market can be segmented into oil and gas, aviation, construction, metals and mining, and agricultural equipment. The oil and gas industry holds the largest share and generates huge revenues between the forecast period. As the oil and gas industry requires a lot of valve control mechanisms and heavy lifting equipment, hydraulic actuators are used extensively in this segment. The construction industry will register a high growth rate, due to the growing demand for construction equipment along with retrofitting of older constructions.
Hydraulic Actuators Market: By Region
Both North America and Asia Pacific regions hold the dominant position in the global market. The large number of construction activities being carried out in these regions are largely responsible for driving the market in these regions. The APAC region is also the fastest-growing region owing to the increasing demand for hydraulic actuators over conventional costlier electric actuators. As industries across APAC aim to increase automation, the need for hydraulic actuators will also rise. The agricultural farms are adopting modern heavy-duty machinery, which in turn will drive up the demand for agricultural actuators in the region. Along with these two industries, heavy investments in infrastructure building and retrofitting of older constructions by governments will also have a positive impact on the hydraulic actuators market in this region.
Hydraulic Actuators Market: Share & Competitor Analysis
Bosch Rexroth S.A, 2G Engineering, Wipro Infrastructure Engineering, ATI, Cameron International Corporation, Curtiss-Wright, Flowserve Corporation, Eaton Corporation INC., ITT, Emerson Electric Co, Ace Micromatic, Parker-Hannifin Corporation, Moog, SMC Corporation, Paladon Systems, REXA, Pentair PLC, Rotork PLC. and The Kerry Company are the some of the key developers operating in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
In 2021, Rotork launched an analytics program to manage its intelligent flow control assets. This will remove the need to manually review the data and save time.
In 2020, Pentair had total sales of USD 3.02 billion and acquire an innovative and sustainable water solutions company called Rocean.
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The Global Hydraulic Actuators Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Hydraulic Actuators Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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