Press release
Hydraulic Actuator Market Extensive Growth Opportunities to be Witnessed by 2025
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.
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Hydraulic actuator market: Drivers and Challenges
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.
Hydraulic actuator market: Segmentation
Segmentation on the basis of Product Type:
Global hydraulic actuator market is segmented on the basis of product type. On the basis of product type global Hydraulic actuator market segmented as linear actuator and rotary actuator. The global rotary actuator market is expected register a high market share during the forecast period due to their higher efficiency, reliability and increasing usage in mobile equipment.
Segmentation on the basis of End-user:
Further Hydraulic actuator market is segmented on the basis of end-user. In now days hydraulic actuators are used in various industrial applications. On the basis of end-user hydraulic actuator market segmented as oil and gas, construction, metals and mining, aviation, agricultural equipment, others (automotive, earthmoving, and material handling).
Competition Landscape
Key Contract
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”.
Key Players
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.
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Regional Overview
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.
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