Projected rise in industrialization to boost the growth of Electro Hydraulic Servo Valve Market

Global Electro Hydraulic Servo Valve Market
Global Electro Hydraulic Servo Valve Market



The global Electro Hydraulic Servo Valve Market is estimated to be valued at US$ 2092.39 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Electro hydraulic servo valves are used to control hydraulic systems in industrial equipment and machinery. These valves are electronically controlled servo valves that regulates the flow of hydraulic fluid in a system to provide precise control in linear or rotary motion. Electro hydraulic servo valves find applications in various industrial sectors such as manufacturing, oil & gas, mining, energy, and aerospace where precise control over hydraulic systems is required. Small size, high performance, repeatability, and high precision are some of the key advantages of electro hydraulic servo valves that makes it ideal for industrial automation applications.

Market key trends:
One of the key trends in the electro hydraulic servo valve market is the growing adoption of digitally controlled electro hydraulic valves. Manufacturers are focusing on developing digitally controlled electro hydraulic servo valves integrated with smart technologies to provide greater flexibility, accuracy and connectivity. For instance, Moog Inc offers electro hydraulic servo valve controllers with digital interface card that enables communication via fieldbus protocols like CANbus, Ethernet/IP etc. Rising adoption of digital hydraulics is expected to drive the demand for digitally controlled electro hydraulic servo valves in industrial automation equipment. Another major trend is the growing popularity of compact and modular electro hydraulic servo valves for portable and mobile applications. Leading manufacturers are designing compact and modular valves that offers customizable configurations, reduced size and weight.
Porter's Analysis

Threat of new entrants: Low cost of production and well established brand presence of existing players makes market difficult for new entrants.

Bargaining power of buyers: Buyers have medium bargaining power due to availability of substitute products however specialization of valves provides some advantage to existing players.

Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitute components and focus of players on backward integration.

Threat of new substitutes: Substitute products pose medium threat as they provide certain performance advantages over traditional valves.

Competitive rivalry: Intense due to presence of global players and technology leadership being the key to remain competitive.

Key Takeaways

The Global Electro Hydraulic Servo Valve Market is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing demand for automation equipment across industries.

Regional analysis: Asia Pacific dominates the global market owing to large manufacturing base in China, India, Japan and South Korea. Asia Pacific Electro Hydraulic Servo Valve Market is projected to reach US$ 1,200 Mn by 2030, growing at fastest CAGR of 4.6% during forecast period.

Key players: Key players operating in the Electro Hydraulic Servo Valve Market include Moog Inc, Woodward Inc, Honeywell International Inc, Eaton Corporation, Parker Hannifin Corporation, Danfoss, Bürkert Fluid Control Systems, Atos S.p.A., EMG Automation GmbH, and AVIC Airmen Controls Co., Ltd.

 

Read More: https://www.ukwebwire.com/electro-hydraulic-servo-valve-market-estimated-to-witness-high-growth/

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