Hydraulic Actuator Market Key Players, Trends, Growth
Opportunities and Industry Forecast till 2023
“The factors that propel the growth of the market include
increasing demand, rapid industrialization, technological
innovations, and growing applications.”
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