The hydraulic actuator market was valued at US$2.795 billion in 2021 and is expected to grow at a CAGR of 3.72% during the forecast period
A hydraulic actuator is a mechanical device that utilizes the power of pressurized fluid to generate motion or force. The different types of hydraulic actuators include linear actuators, rotary actuators, and semi-rotary actuators which are made using carbon steel or aluminum and can be used for agriculture, construction, and mining activities to provide precise control for heavy lifting and moving tasks. Factors such as an increase in agricultural equipment sales and a rise in mining activities are driving the hydraulic actuator market size expansion.Market Drivers
Growing agriculture equipment sales
Hydraulic systems offer excellent control over speed, and direction to fluid motors perform precise maneuvers. This level of control is essential for tasks like seed planting, spraying pesticides, and harvesting, where accuracy and efficiency are critical. The increased sales of harvesters coupled with the new launches of agricultural equipment are expected to boost the hydraulic actuator industry's growth. According to the Association of Equipment Manufacturers (AEM), Canada's combined harvester sales increased up to 10.7 % in 2022 compared to 2022,Increased construction spending
Hydraulic actuators play a crucial role in various construction equipment and machinery, such as excavators, cranes, loaders, and bulldozers. These actuators provide the necessary power and force required for efficient movement and operation of heavy machinery in construction sites. Hydraulic actuators offer precise control and strong lifting capabilities, allowing construction equipment to handle heavy loads and perform intricate tasks with ease. The rising infrastructure spending drives the hydraulic actuator industry growth. Under the Union Budget 2021-22 of India, funding of INR 1.97 lakh crore (over US$ 26 billion) was announced to enhance India’s manufacturing capabilities and exports.Growing mining activities
Mining operations involve tasks like drilling, crushing, and material handling. Hydraulic actuators offer the necessary power to perform these tasks efficiently, enabling the operation of heavy machinery and equipment such as excavators, loaders, bulldozers, and crushers. The increased mineral production and introduction of new mining equipment will positively impact the hydraulic actuator market growth. Accordingly, Indian iron ore production increased to 253.97 million tonnes in 2021-22 from 199.8 million tonnes in 2017-18. In April 2023, Hitachi Construction Machinery Co., Ltd. launched an "EX5600-7 ultra-large hydraulic backhoe excavator" with improved welding strength and thickness of the boom and arm.The Asia-Pacific region is expected to witness high CAGR
Asia Pacific holds a significant share of the hydraulic actuator market due to the favorable initiatives and investment to boost mining and agriculture activities in economies such as India and China. In June 2022, the Minerals Security Partnership (MSP) initiative was launched in China which aimed to ensure that critical minerals are produced to support the economic development and potential of mineral resources in China. Moreover, in the annual budget of 2021-22 India, Rs. 1050 crore was allocated under the ‘Sub Mission on Agricultural Mechanization (SMAM)’ scheme to boost farm mechanization in the country. Such positive developments will expand the hydraulic actuator market size in the Asia Pacific.Regulations implemented to reduce emissions will restrain the hydraulic actuator market growth
The combustion engines used to power the hydraulic systems can also generate emissions. Regulations aimed at reducing emissions from the major sector such as mining can negatively impact the expansion of the hydraulic actuators market. In November 2022, for instance, the International Methane Emission Observatory (IMEO) announced the Methane Alert and Response System (MARS), which is a satellite-based system to detect methane emissions. It would start with major emission sources from the mining sector but would also expand to cover other methane-emitting sectors, such as waste and livestock.Market Developments
- June 2022: PDC LLC launched high-quality electro-hydraulic actuators marketed under the Magnus Force® brand offering consumers a cost-effective solution with aggressive lead times.
- Emerson introduced the hydraulic actuator that used ECAT Valve Actuation Technology which had a small electric motor to pressurize hydraulic fluid to drive the actuator and was designed to offer zero-emission. The company launched such a product to expand its presence in the hydraulic actuator industry.
Company Products
- CytroForce: This product by Bosch Rexroth sets new benchmarks in terms of power density, energy efficiency, and quiet operations. The solution is delivered preconfigured, allowing even machine manufacturers with very little hydraulics experience to benefit from previously unknown application possibilities and minimal total costs from engineering to maintenance.
- Dantorque R-Series Helical Spline Hydraulic Valve Actuator: Such product by Emerson Electric Co is a compact and fully concentric actuator and this product is only intended for use in large-scale fixed installations excluded from the scope of Directive 2011/65/EU on the restriction of the use of certain hazardous substances in electrical and electronic equipment (RoHS 2).
- Electro-Hydraulic Actuator: This product by Rotex Automation is a self-contained electrohydraulic actuator suitable for linear and rotary applications.
Segmentation
By Type
- Linear Actuator
- Rotary Actuator
- Semi-Rotary Actuator
By Material
- Aluminum
- Carbon Steel
By End-User
- Agriculture
- Construction
- Mining
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- UK
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Other
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. HYDRAULIC ACTUATOR MARKET BY TYPE
6. HYDRAULIC ACTUATOR MARKET BY MATERIAL
7. HYDRAULIC ACTUATOR MARKET BY END-USER
8. HYDRAULIC ACTUATOR MARKET BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
10. COMPANY PROFILES
Companies Mentioned
- Bosch Rexroth
- Bray International
- Eaton Corporation
- Emerson Electric Co
- Flotech Inc.
- Moog Inc
- PARKER HANNIFIN CORP
- Rotex Automation
- Rotork
- The Kerry Company Inc.
Methodology
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