Hydraulic Actuator Industry to Grow Amidst Growing Agriculture Equipment Sales and Increased Construction Spending, Forecasted at 3.72% CAGR through 2028


Dublin, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The "Hydraulic Actuator Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.

The report presents an in-depth analysis of the market, which was valued at US$2.795 billion in 2021. With a projected Compound Annual Growth Rate (CAGR) of 3.72%, the market shows promising growth prospects.

Hydraulic actuators, essential in agriculture, construction, and mining for precise control of heavy lifting and moving tasks, are experiencing a surge in demand. These actuators use pressurized fluid to generate motion or force and come in various types, including linear, rotary, and semi-rotary, made from carbon steel or aluminum.

Market Drivers:

  • Growing Agriculture Equipment Sales: The precision and efficiency offered by hydraulic systems in agricultural tasks like seeding and harvesting are driving the market.
  • Increased Construction Spending: Hydraulic actuators are integral to construction machinery, providing power and precision for heavy equipment operations.
  • Growing Mining Activities: The actuators' power enables efficient operation of heavy machinery in mining, further propelling market growth.

Market Challenges:

  • Emission Regulations: Environmental regulations, especially in the mining sector, could restrict market growth due to concerns over emissions from hydraulic systems.

Market Developments:

  • New Product Launches: Companies like PDC LLC and Emerson have introduced advanced hydraulic actuators, including eco-friendly options, to cater to evolving market needs.

Company Products:

  • CytroForce by Bosch Rexroth: A preconfigured solution offering high power density and energy efficiency.
  • Dantorque R-Series by Emerson Electric Co: A compact actuator designed for large-scale installations.
  • Electro-Hydraulic Actuator by Rotex Automation: Suitable for linear and rotary applications.

Segmentation:

  • By Type: Linear, Rotary, Semi-Rotary Actuators
  • By Material: Aluminum, Carbon Steel
  • By End-User: Agriculture, Construction, Mining

Company Profiles:

  • Bosch Rexroth
  • Bray International
  • Eaton Corporation
  • Emerson Electric Co
  • Flotech Inc.
  • Moog Inc
  • PARKER HANNIFIN CORP
  • Rotex Automation
  • Rotork
  • The Kerry Company Inc.

The "Hydraulic Actuator Market - Forecasts from 2023 to 2028" report is a comprehensive resource for stakeholders in the industry, offering insights into market dynamics, drivers, and future opportunities in the hydraulic actuator sector.

For more information about this report visit https://www.researchandmarkets.com/r/kontd1

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

 

Coordonnées