Global hydraulic
actuator market is anticipated to witness an exponential growth in the
forecast period. Hydraulic actuator, also called as “Pneumatic Cylinder” and
“Hydraulic Cylinder”, is an integral component of a hydraulic system. The
factors that propel the growth of the market include increasing demand, rapid
industrialization, technological innovations, and growing applications.
Moreover, growing demand from utility, manufacturing, mining, and power
generation sectors, and increasing construction, manufacturing and mining
activities are likely to contribute greatly to the market growth.
On the other hand, there are factors that may
hamper the growth of the market including high cost of maintenance and
installation, loss of fluid, and requirement of several accessories such as
heat exchangers, motors, release valve, and noise reduction equipment. The
market is anticipated to grow at a significant CAGR of 4.6% in the upcoming
period as the scope, product types, and its applications are increasing across
the globe.
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The market may be explored by
function, specification, application, bore size, industry, and geography.
Market may be explored by function as Double Acting and Single Acting. The
“Double-acting hydraulic cylinders” segment led the hydraulic actuator market
in 2017 and will continue to lead in the forecast period.
Based on specification, the market
could span Mill Type, Welded, Tie Rod, and Telescopic. The “Welded hydraulic”
segment led the hydraulic actuator market in 2017 and will continue to lead in
the forecast period. The key applications that could be explored in the
hydraulic actuator market include Mobile Equipment and Industrial Equipment.
The “Mobile Equipment” segment led the hydraulic actuator market in 2017 and
will continue to lead in the forecast period. The key factor that could be attributed
to the growth of market includes increasing need for the use of hydraulic power
at hard-to-reach and remote places.
The market could be explored based on
Bore size as 50–150 mm, >150 mm and <50 mm. The “50 and 150 mm” segment
led the hydraulic actuator market in 2017 and will continue to lead in the
forecast period. The key factors that could be attributed to the growth of
market include rapidly developing storage and material handling infrastructure,
increasing construction activities, and modernization of agriculture equipment.
The market could be explored by industry as Aerospace & Defense,
Construction, Agriculture, Material Handling, Automotive, Mining, Oil &
Gas, Marine, and Others. The “Construction” segment led the market in 2016 and will
continue to lead in the forecast period.
APAC accounted for the major share of
the market in 2017 and will continue to lead in the forecast period. The
factors that could be attributed to the growth include increased usage in
remote control solutions and operations, increase in the acceptance of
hydraulic actuators, usage of low-cost hydraulic actuators, and increasing
demand from various end user industries.
Some of the key players that fuel the
growth of the hydraulic actuator market comprise Emerson Electric Co.,
Flowserve Corporation, Cameron International Corporation, Rotork plc.
Parker-Hannifin Corporation, Siemens AG, Eaton Corporation, Bosch Rexroth
Group, Pentair Plc., SMC Corporation, Wipro Infrastructure Engineering, ATI, 2G
Engineering, ITT, Curtiss-Wright, and Ace Micromatic. The leading companies are
taking up partnerships, mergers and acquisitions, and joint ventures in order
to boost the inorganic growth of the industry.
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