Hydraulic Actuator Market Product Driving Factors, Capacity and Growth Rate Analysis to 2023
04th February 2019 – Global Hydraulic Actuator Market is anticipated to witness an exponential growth in the forecast period. Hydraulic actuator, also called as “Pneumatic Cylinder” and “Hydraulic Cylinder”, is an integral component of a hydraulic system. The factors that propel the growth of the market include increasing demand, rapid industrialization, technological innovations, and growing applications. Moreover, growing demand from utility, manufacturing, mining, and power generation sectors, and increasing construction, manufacturing and mining activities are likely to contribute greatly to the market growth.
On the other hand, there are factors that may hamper the growth of the market including high cost of maintenance and installation, loss of fluid, and requirement of several accessories such as heat exchangers, motors, release valve, and noise reduction equipment. The market is anticipated to grow at a significant CAGR of 4.6% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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The market may be explored by function, specification, application, bore size, industry, and geography. Market may be explored by function as Double Acting and Single Acting. The “Double-acting hydraulic cylinders” segment led the hydraulic actuator market in 2017 and will continue to lead in the forecast period.
Based on specification, the market could span Mill Type, Welded, Tie Rod, and Telescopic. The “Welded hydraulic” segment led the hydraulic actuator market in 2017 and will continue to lead in the forecast period. The key applications that could be explored in the hydraulic actuator market include Mobile Equipment and Industrial Equipment. The “Mobile Equipment” segment led the hydraulic actuator market in 2017 and will continue to lead in the forecast period. The key factor that could be attributed to the growth of market includes increasing need for the use of hydraulic power at hard-to-reach and remote places.
The market could be explored based on Bore size as 50–150 mm, >150 mm and <50 mm. The “50 and 150 mm” segment led the hydraulic actuator market in 2017 and will continue to lead in the forecast period. The key factors that could be attributed to the growth of market include rapidly developing storage and material handling infrastructure, increasing construction activities, and modernization of agriculture equipment. The market could be explored by industry as Aerospace & Defense, Construction, Agriculture, Material Handling, Automotive, Mining, Oil & Gas, Marine, and Others. The “Construction” segment led the market in 2016 and will continue to lead in the forecast period.
Key Applications
• Automotive
• Pharmaceuticals
• Food & Beverage
• Electronics
• Industrial
Key Questions Answered in this Report
• What will the market size be in 2023?
• What are the key factors driving the global Hydraulic Actuator market?
• What are the challenges to market growth?
• Who are the key players in the Hydraulic Actuator market?
• What are the market opportunities and threats faced by the key players?
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Key regions
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America