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Hydraulics, Pneumatics and Actuators Industry Outlook - Forecast (2021-2026)

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  • 145 Pages
  • March 2021
  • Region: Global
  • IndustryARC
  • ID: 5566634

Hydraulics, Pneumatics and Actuators Market Overview

Hydraulics, Pneumatics and Actuators market is analyzed to grow at a CAGR of 4.9% during the forecast period 2021-2026 to reach $22,269.68 million. Hydraulic systems transmit power by using pressure of an incompressible fluid within a sealed system, compared to pneumatic ones which use incompressible gases, thus making it comparatively cheaper. However, deploying pneumatic actuated systems can help in eliminating leakage concerns of oil or hydraulic fluids, coupled with low maintenance requirements and long operating lives, gaining it wide popularity among various end-use applications. Factors such as advancements across agriculture sector supporting smart farming as well as rise of major industry verticals like aerospace or defense industry have attributed towards a significant growth and is further set to create more growth avenues in the Europe hydraulics, pneumatics and actuators market. In addition, rise of construction activities, high investment on R & D activities from major vendors alongside modernization or up-gradation of transportation sector across European countries will be aiding the need towards various hydraulic or pneumatic components in near future.

Report Coverage

The report: “Hydraulics, Pneumatics and Actuators Industry Outlook - Forecast (2021-2026)” covers an in-depth analysis of the following segments of the Hydraulics, Pneumatics and Actuators industry.

By Industry Wise Specification Analysis: Hydrogen, Aerospace, Semiconductor Technology, Agricultural Technology & Machinery, Construction Machinery, Railway Technology, Chemicals, Biotechnology & Cosmetics, Heating & Sanitary Technology, Air conditioning & Refrigeration Technology, Air Purification & Drying Technology, Cleaning Technology & Machines, Locking Technology & Systems.

By Application: Hydrogen, Aerospace, Semiconductor Technology, Agricultural Technology & Machinery, Construction Machinery, Railway Technology, Chemicals, Biotechnology & Cosmetics, Heating & Sanitary Technology, Air conditioning & Refrigeration Technology, Air Purification & Drying Technology, Cleaning Technology & Machines, Locking Technology & Systems, Others.

By Products: Hydraulics (Hydraulic Systems, Valves, Pressure Gauges, Piston Accumulator, Motor Pump, Modular Valve Blocks, Solenoids, Others), Pneumatics (Valves, Micro pump, Solenoids, Others), Actuators (Active Vibration Dampers, Solenoids, Linear Actuators).

By Geography: Europe (Germany, France, UK, Italy, Scandinavia, Others).

Key Takeaways

  • Growing shift towards smart farming to boost agricultural sector as well as rapid growth across aerospace and defense industry is analyzed to significantly drive the hydraulics, pneumatics and actuators market during the forecast period 2021-2026.
  • Pneumatics segment had accounted for the largest market share in 2020, attributed to the rising number of product launches by the European market vendors.
  • Presence of key market players such as Bosch Rexroth AG, Burkert Fluid Control Systems and many others opting for R & D activities to expand their product portfolios have helped in boosting the market growth in Germany.

Hydraulics, Pneumatics and Actuators Market Segment Analysis -By Products

Based on product segmentation, pneumatics type had dominated the hydraulics, pneumatics and actuators market with $9,582.09 million in 2020 and is analyzed to grow with the highest CAGR of 5.5% during the forecast period 2021-2026. As systems based on pneumatic actuation, rely on constant supply of compressed air in order to develop as well as control energy, they have been widely getting used for a broad range of industries to drive machinery. In comparison to hydraulic ones, these systems are more efficient, reliable and can be operated safely, which contributes towards its high adoption across major industries including food & beverage, railways, semiconductor manufacturing, biotechnology & cosmetics with many others. Valves, Micro pump, Solenoids and others have been considered under the scope of pneumatics type. These pneumatic components serve as a major building block of various industry verticals namely, railways, aerospace, construction and so on, which have been reportedly facing substantial growth within the European countries. In 2021, a Germany based leading process control equipment manufacturer, Burkert had revealed about extending the functionality and ATEX certification for its TYPE 8652 pneumatic valve island as a move towards improving safety, communication as well as diagnostic features. Through this upgradation, the company tends to incorporate a safety shut-down feature through a safety relay in compliance with EN 1SO 13849 directive, which will be enabling access to new applications within potentially explosive environments, including distilleries, pharmaceuticals and food processors to handle fine dusts or flours. These measures are analyzed to boost the growth of pneumatic systems within the European region prior to such product advancements in the near future.

Hydraulics, Pneumatics and Actuators Market Segment Analysis - By Application

By application, the hydraulics, pneumatics and actuators market is segmented under hydrogen, aerospace, semiconductor technology, agricultural technology & machinery, construction machinery, railway technology, chemicals, biotechnology & cosmetics, heating & sanitary technology, air conditioning & refrigeration technology, air purification & drying technology, cleaning technology & machines, locking technology & systems and others. Aerospace segment had dominated with a market share of 2,616.04 Million in 2020, analyzed to grow at a CAGR of 5.1% in the hydraulics, pneumatics and actuators market during the forecast period 2021-2026. Braking system, door control and control of wing flaps are some of the major applications which leverages hydraulic actuation principles. Government initiatives as well as investing on constructing aviation part manufacturing facilities overtime have been attributing towards the market growth across European countries. In 2020, as a part of financial support program for its flagship aviation industry amidst the global COVID-19 pandemic, the French government had revealed its plans of investing about €15 billion ($17 billion) to place new aircraft orders. This plan was meant to help companies investing on development of low-emission aircrafts alongside supporting small or mid-size companies developing light surveillance planes and drones over the next three years. Such measures are anticipated to propel the demand for various hydraulic or pneumatic actuated parts be it valves, motors, pumps and others used in aerospace applications including doors, flight wings, and so on in the long run.

Hydraulics, Pneumatics and Actuators Market Segment Analysis - By Geography

Germany had accounted for the second largest share of $3,792.41 Million in 2020, analysed to grow with a CAGR of 4.4% for the hydraulics, pneumatics and actuators market during the forecast period 2021-2026. This market growth was attributed owing to various factors including governmental support towards industrial sectors like aerospace & defense, rise of construction activities, development strategies adopted from some of the key players, namely Burkert Fluid Control Systems, Bosch Rexroth AG and many others. According to Federal Statistical Office, construction output in Germany increased from 10.4% in December 2020 to 3.8% in November 2020, making the need for various construction machinery highly essential. In 2019, Liebherr, a Germany based manufacturing company, had launched a medium-class truck-mounted concrete pump, 42 M5 XXT. With compactness and versatility, this pump was incorporated with a quieter, simpler as well as robust hydraulic drive unit, in order to ensure machine flexibility and operating efficiency even at constricted sites. Such developments were meant to minimize number of hydraulic hoses and related parts, making it an ideal option for conducting construction activities with maximum output range.

Hydraulics, Pneumatics and Actuators Market Drivers

Increasing growth of aerospace and defense industry within European region:

Increasing growth of aerospace and defense industry can be considered as one of the major driving factors responsible for boosting the growth of Europe Hydraulics, Pneumatics and Actuators market. Aerospace industry includes commercial as well as military aircraft applications involving use of pumps, motors, pressure switches and many others, which serve as a crucial part towards powering of primary components and systems. As these systems work on hydraulic actuation principles for supporting control of wing flaps, control of doors and aircraft braking systems, they have been creating a positive impact for the significant growth of various hydraulic components. In addition, governmental initiatives towards enhancing military and defense sector of the EU region, have been also aiding the demand towards hydraulic or pneumatic actuated systems. Under the Permanent Structured Cooperation on Defense and Security Council (PESCO), the European Council had formally adopted about 13 collaborative projects in 2019, including development of airborne electronic attack systems for manned as well as unmanned aircrafts, space based early warning systems, endo-atmospheric interceptors to detect, track or counter aerial threats including missiles, among others. About EUR 4.1 billion for research and EUR 8.9 billion for developing military capabilities will be allocated for these projects, which are set to raise the demand towards various hydraulic or pneumatic components as well as actuators in the long run.

Shift towards smart farming to enhance agriculture sector within the region:

Shift towards smart farming trends in order to increase agricultural sector growth is analyzed to create a significant impact on the growth of hydraulics, pneumatics and actuators market during the forecast period 2021-2026. Owing to reduced use of agricultural input components like plant protection, soil improvers and so on over the years, the need for shifting towards minimizing usage of agricultural products while maintaining crop productivity had become essential, thereby aiding the need for equipment with advanced control mechanisms. Additionally, growing prices of agricultural products combined with initiatives towards environmental protection can also be considered as the major factors pressurizing the EU-policy makers to adopt innovative and smart technology, for increasing agri-sector competitiveness in the long run. With these measures, adoption of smart farming is emerging in order to improve resource use efficiency, reduce crop wastage alongside minimizing manual power needs and so on, while raising profitability and sustainability of agricultural production. Shift towards smart farming are bound to impact the market growth of varied farm equipment incorporating hydraulics or pneumatics used for crop protection, land tilling, ploughing and others. In 2020, an Italy based agricultural machinery vendor, New Holland Agriculture had combined crossover harvesting concept with outstanding Twin Rotor separation technology, with the launch of CH7.70 combine capable of setting a capacity benchmark for mid-range combines. As this machine’s drum speed is controlled from a cab through a heavy-duty hydraulic drum variator, which eventually enables the operator to ensure speed gets perfectly matched with crop and field conditions. Such advancements towards hydraulic actuated farming equipment are further analyzed to create new opportunities for the smart farming across European region.

Hydraulics, Pneumatics and Actuators Market Challenges

Growing advancement towards electric actuators:

Growing advancements towards electric actuators owing to quieter operation, higher flexibility and so on is considered to be one of the major factors impeding the growth of hydraulic and pneumatic actuators. With price of electric components decreasing steadily over the years, electric actuators being more flexible coupled with high precision capability and showing complete motion control have been gaining it wide popularity across various end use industries. Additionally, government initiatives towards enhancing industrial automation through the use of artificial intelligence, robotics or others have been eventually reducing the deployment of hydraulic or pneumatic actuators. In 2019, a U.K company, IMI Norgren had launched a new line of electric actuators, named ELION which is capable of delivering greater flexibility and enhanced control for industrial automation within low costs. Development of these actuators was meant to reduce energy consumption and total cost of ownership, offering a cleaner and quieter solution, suited for applications like packaging or labelling, material handling, machine tools as well as food and beverage sectors. Such advancements towards electric actuators coupled with advantages like energy-efficiency, low costs, flexible and quieter operation unlike traditional ones, have been eventually hampering the growth of hydraulic or pneumatic actuators.

Hydraulics, Pneumatics and Actuators Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the hydraulics, pneumatics and actuators market. The key players in the hydraulics, pneumatics and actuators market include Bosch Rexroth AG, Enerpac Tool Group (Actuant Corporation), Danfoss, Eaton Corporation plc, Moog Inc., SMC Corporation, KURODA Pneumatics Ltd., ABB, Emerson Electric Co. and Burkert Fluid Control Systems among others.

Acquisitions/Technology Launches/Partnerships
  • In January 2021, Danfoss Group had completed the acquisition of a Scotland based hydraulics specialist, Artemis Intelligent Power in order to support development of hydraulic pumps, motors or systems coupled with high efficiency, controllability as well as design flexibility.
  • In September 2020, Emerson had launched the ASCO Series 273 pinch valve, as a part of addition to its extensive pneumatic valve offering. This valve is capable of serving varied single use batch applications within bioreactor or fermentation tanks, tangential flow filters, chromatography skids along with many other drug discovery lab applications.