Global Electrohydraulic Actuator Market Is Expected To Be Driven By Increasing Market Growth In The Developing Countries
Pune, Maharashtra, May 11, 2019 (Wired Release) Prudour Pvt. Ltd. – The global electrohydraulic actuator market is projected to be US$ 287.1 Mn in 2018 to reach US$ 405.6 Mn by 2028 at a CAGR of 3.5%. Electrohydraulic valve actuators and hydraulic valve actuators convert fluid pressure into motion in response to a signal. They use an outside power source and receive signals that are measured in amperes, volts, or pressure. Hydraulic actuators can be used when a large amount of force is required to operate a valve.
The market for electrohydraulic actuators is expected to grow in the foreseeable future owing to the advancements in the electrohydraulic actuator technology. Incorporation of electrohydraulic actuators in the valves increases accuracy, functionality and ease-of-use of the system, and these factors are anticipated to aid the market growth rate. Also, the growth of construction industry and rapid increase in the manufacturing industries are the factors which are expected to bolster the growth of the market in the forecast period.
The increase in the purchase of integrated systems and the need for automation solutions among the hydraulic systems in the oil and gas, metals and mining, and marine industries have driven the market for hydraulic actuators. On the basis of type, market is segmented into Control Type Actuator and Switch Type Actuator. Control Type Electrohydraulic Actuator accounts for the majority share in the global electrohydraulic actuator market.
On the basis of region, the market is segmented into United States, China, Europe, Japan, Southeast Asia, India and Rest of the World. The United States accounts for the majority share in the global electrohydraulic actuator market, followed by Europe. Emerging economies such as China is expected to register the highest growth rate over the forecast period. Countries and regions such as India and Japan, Southeast Asia and rest of the world are expected to register stable growth over the forecast period.
The research report on the global electrohydraulic actuator market includes profiles of some of major companies such as Emerson Electric Co., Rotork plc, HOERBIGER Holding AG, Nihon KOSO Co.Ltd., Moog Inc., Samson Controls (China) Co., Ltd., Woodward, Inc., AVTECH, Rotex Automation Limited, Siemens Aktiengesellschaft, Parker-Hannifin Corporation etc.