Dublin, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The "Hydraulic Actuator Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The report presents an in-depth analysis of the market, which was valued at US$2.795 billion in 2021. With a projected Compound Annual Growth Rate (CAGR) of 3.72%, the market shows promising growth prospects.
Hydraulic actuators, essential in agriculture, construction, and mining for precise control of heavy lifting and moving tasks, are experiencing a surge in demand. These actuators use pressurized fluid to generate motion or force and come in various types, including linear, rotary, and semi-rotary, made from carbon steel or aluminum.
Market Drivers:
- Growing Agriculture Equipment Sales: The precision and efficiency offered by hydraulic systems in agricultural tasks like seeding and harvesting are driving the market.
- Increased Construction Spending: Hydraulic actuators are integral to construction machinery, providing power and precision for heavy equipment operations.
- Growing Mining Activities: The actuators' power enables efficient operation of heavy machinery in mining, further propelling market growth.
Market Challenges:
- Emission Regulations: Environmental regulations, especially in the mining sector, could restrict market growth due to concerns over emissions from hydraulic systems.
Market Developments:
- New Product Launches: Companies like PDC LLC and Emerson have introduced advanced hydraulic actuators, including eco-friendly options, to cater to evolving market needs.
Company Products:
- CytroForce by Bosch Rexroth: A preconfigured solution offering high power density and energy efficiency.
- Dantorque R-Series by Emerson Electric Co: A compact actuator designed for large-scale installations.
- Electro-Hydraulic Actuator by Rotex Automation: Suitable for linear and rotary applications.
Segmentation:
- By Type: Linear, Rotary, Semi-Rotary Actuators
- By Material: Aluminum, Carbon Steel
- By End-User: Agriculture, Construction, Mining
Company Profiles:
- Bosch Rexroth
- Bray International
- Eaton Corporation
- Emerson Electric Co
- Flotech Inc.
- Moog Inc
- PARKER HANNIFIN CORP
- Rotex Automation
- Rotork
- The Kerry Company Inc.
The "Hydraulic Actuator Market - Forecasts from 2023 to 2028" report is a comprehensive resource for stakeholders in the industry, offering insights into market dynamics, drivers, and future opportunities in the hydraulic actuator sector.
For more information about this report visit https://www.researchandmarkets.com/r/kontd1
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