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| 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/