Oct 12, 2017   SOURCE: BusinessWire

Hydraulic Actuators Market - Drivers and Forecasts by Technavio

Technavio analysts forecast the global hydraulic actuators market to grow at a CAGR of over 3% during the forecast period, according to their latest report.

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Technavio has published a new report on the global hydraulic actuators market from 2017-2021. (Graph ...

Technavio has published a new report on the global hydraulic actuators market from 2017-2021. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of the global hydraulic actuators market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market for hydraulic actuators has a direct impact on developments based on the production and deployment of valves in the machinery and other flow equipment. The need for extreme operations, where the fluid flow is high, is providing the demand for hydraulic actuators in the end-user industries. The hydraulic actuators market is expected to have a growing market size, and it is likely to happen from growing markets in Asia, the Middle East, and Latin America, which offer an incredible potential for the growth of mobile and industrial machinery, pipelines, and other piping systems.

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Technavio analysts highlight the following three factors that are contributing to the growth of the global hydraulic actuators market:

  • Low cost of hydraulic actuators when compared with electrical actuators
  • Increase in replacement activities
  • Integration with common communication protocols

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Low cost of hydraulic actuators when compared with electrical actuators

The market for hydraulic actuators is highly driven by linear hydraulic actuators, and it is due to the market growth in the developing countries where the cost of products has been lowered. The cost reduction has led to a higher adoption of hydraulic actuators among the end-user industries. The growth in fluid automation is one of the major driving factors for the use of hydraulic actuators. The cost of linear hydraulic actuators has been reduced along with the development of multifunctional features.

Raghav Bharadwaj Shivaswamy, a lead automation research analyst at Technavio, says, “The increase in the deployment of hydraulic actuators in hydraulic and integrated hydraulic systems plays a key role in the market and is widely used in the end-user industries. The cost of hydraulic actuators in APAC is lesser when compared with that in the developed countries in Europe and North America.”

Increase in replacement activities

Hydraulic actuators are implemented in industrial machines for process control applications. They are used where high speed, heavy force, and high load is required. The hydraulic pressure is transmitted safely by regulating the process. The hydraulic actuators help to reduce the vibration and shocks of industrial valves and engines and enhance the service life of the machine. It is designed to safely and efficiently direct or control the flow of fluid in various industrial applications.

“Most of the end-user industries do not follow proper maintenance procedures, thereby leading to the corrosive formation. Industrial applications require hydraulic actuators that are robust with heavy-duty design, long service life, high-torque and high-speed operation, and of the latest technology, which can be deployed in new machines, pipelines, and piping systems. The old hydraulic actuators are replaced by updated technology products that ensure smooth fluid flow and enhance the overall productivity,” adds Raghav.

Integration with common communication protocols

The fluid-power systems are growing to be more interconnected in the ever-expanding IoT and IIoT, which makes it technically advanced over the traditional operations. The growth in the communication protocols and sensors have made fluid-power systems grow in the end-user industries. The integration of hydraulic systems and actuators by control systems with efficient communication protocols like Ethernet, CANbus, HART, and others increases the trend to deploy the latest hydraulic actuators.

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. The network compatibility that is enhancing the operational efficiency and integrating hydraulics into Industry 4.0 has developed the fluid process by connecting hydraulic actuators to digital control electronics.

Top vendors:

  • Emerson
  • Flowserve
  • PARKER HANNIFIN
  • Schamberger
  • Siemens

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