Low cost hydraulic actuators which are used will fuel the growth of the Hydraulic Actuators Market to a great extent.
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According to MarketIntelReports' “Global Hydraulic Actuators Market 2016-2020”:
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The Hydraulic Actuators Market has applications in industry and mobile for performing different tasks. A hydraulic actuator is used in construction, agriculture, and mining equipment like loaders, excavators, trucks, and loaders.
It can be even used in manufacturing and nuclear power plants. Growing usage of the hydraulic components are seen in mining, construction, and agricultural equipment.
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The combination of hydraulics with electronics has boosted the growth of the hydraulic cylinder catalogue in renewable energy. All these significant features definitely propel the growth of the market during the forecast period.
Scope & Regional Forecast of the Hydraulic Actuators Market
The reduction in costs is definitely an advantage for the Hydraulic Actuators Market. This factor benefits many end user industries.
The growth in fluid automation also drives the demand for hydraulic components. EMEA region dominated the market in 2016.
This is attributed to the development of new machinery and adoption of new valves. Production of oil and gas fields in Africa stimulates the installation of pipelines, which in turn spurs the demand for the actuation system.
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The growth of the replacement industry is mainly responsible for the growth of hydraulic valve actuator operation. In 2015, the oil and gas segment had a major share of the market.
Valves and actuators are used in drill rigs, exploration, and offshore plants.
The linear hydraulic actuation system operation is used in many industries where linear positioning is needed. Increasing demand for mobile hydraulics will lead to the growth of sales of the hydraulic actuators.
Increase in fuel efficient vehicles and advanced automation systems will lead to the growth of the industry in the coming years.
The increasing growth of electric vehicles has lead to the use of actuators in many large scale applications. Technological advancements like development of electro hydraulic technology has propelled the demand for pneumatic cylinders.
Segmentations & Key Players Involved in the Hydraulic Actuators Market
The Hydraulic Actuators Market can be broken down into various segments as follows:
- Region- Americas, APAC, and EMEA.
Some of the key players involved in the Hydraulic Actuators Market are as follows:
- Bosch Rexroth
- Parker Hannifin
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