Hydraulic Actuators Market Size, Share & Trends 2032

Hydraulic Actuators Market

The global hydraulic actuator market was estimated to be worth USD 2,547.20 million in 2023 and is expected to grow to USD 3,532.40 million by the end of 2032, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to rise at a CAGR of 3.70%. The growth factors, barriers to entry, and effects on demand for the worldwide hydraulic actuators market are examined in this study for the period of forecasting. Additionally, it will aid in navigating and investigating the opportunities that present themselves in the hydraulic actuators market.

Global Hydraulic Actuators Market: Overview

Many industrial and mobile applications use the hydraulic system to carry out a variety of functions. Devices known as activators are used to convert energy into motion. Moving or manipulating mechanisms is a part of most of the duties. Tractors, trucks, motors, excavators, and other mining and construction machinery all make extensive use of hydraulic actuators. Nuclear power plants have also employed hydraulic actuators. These actuators are employed in situations when cloud control applications call for high speeds and significant forces.

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External energy sources that are transformed into motion, such as electric current, hydraulic fluid pressure, and pneumatic pressure, are useful in operating actuators. Two basic motions that are included in actuators are rotational and linear motion. Different sizes, types, and power combinations of these machines are available based on the uses for which they are intended.

Global Hydraulic Actuators Market: Growth Factors

One of the main factors driving the growth of the global hydraulic actuators market is the increasing development of smart cities worldwide. Furthermore, there is an enormous need for these actuators due to people’s rising propensity toward smart farming, which is meant to promote the expansion of the agriculture industry. Hydraulic actuator adoption is likely to be aided by the strong need to minimize the use of agricultural goods in order to sustain crop yield. This will reduce the need of inputs such as plant protection and soil improvement.

Furthermore, legislators are under pressure to promote smart farming due to the rising costs of agricultural products and the expansion of environmental protection programs. Additionally, there is no need to switch from conventional to smart farming methods in order to increase the profitability and sustainability of the agriculture industry, decrease crop waste, and improve resource efficiency. Furthermore, the use of hydraulic actuators has expanded dramatically on a global scale due to continuous technological developments such as the development of electro-hydraulic technology through the combination of electronics and hydraulics. Numerous uses for these hydraulic actuators include aero surface control, thrust vectoring of rocket nozzles, and operation control in the spacecraft and rocket industry.

The aerospace industry encompasses both commercial and military aircraft applications, which have become essential for powering various systems and components. Additionally, the demand for these hydraulic actuator systems is being greatly fueled by the expanding government initiatives in numerous countries of the world aimed at enhancing the military and defense sector. In the upcoming years, the worldwide hydraulic actuators market is expected to increase rapidly due to the introduction of low-cost hydraulic systems. Companies that produce hydraulic actuators are allocating more funds to support research and development in order to introduce novel goods into the international market.

Global Hydraulic Actuators Market: Segmentation

There are three segments in the worldwide hydraulic actuators market: product type, geography, and application. The market can be divided into the aviation sector, mobile equipment, and other segments based on the application. The mobile equipment market can be further divided into segments for construction, mining and metals, oil and gas, agriculture, and others. Due to the increasing use of hydraulic actuators and their expanding uses, which include control of wings, flaps doors, control braking systems, and several other applications, the aerospace segment holds the greatest proportion of the worldwide hydraulic actuators market. The government’s increasing investments to support the expansion of the aerospace industry will also contribute to the segment’s growth.The market can be divided into rotary and linear actuators based on product.

Global Hydraulic Actuators Market: Regional analysis

North America holds the greatest market share for hydraulic actuators worldwide because of the government’s increasing investment in the region to support the aerospace and defense industries. There are several applications in these domains that call for hydraulic actuators. Additionally, the continued development of hydraulic actuator technology will help the local market expand. Due to the region’s growing trend of smart farming, Europe holds the second-largest share of the worldwide hydraulic actuators market.

Additionally, because of the rapidly expanding industrial sector in the area, Asia Pacific is anticipated to grow at the highest rate in the worldwide hydraulic actuators market. Over the course of the projection period, government efforts and continuing technology improvements are probably going to be the main drivers of the regional market’s growth.

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Global Hydraulic Actuators Market: Competitive Players

Some of the significant players in the global hydraulic actuators market are:

SMC Corporation
Wipro Infrastructure Engineering
Bosch Rexroth S.A
Pentair Plc.
Eaton Corporation
Parker Hannifin Corporation
Rotork Plc
Cameron International Corporation
Emerson Electric Co
Flowserve Corporation.

Product launches, research & development activities, and acquisition & collaboration are different strategies adopted by manufacturers in the market to grow and strengthen their position globally.

The Global Hydraulic Actuators Market is segmented as follows:

By Application