PUBLISHER: The Business Research Company | PRODUCT CODE: 1531944
PUBLISHER: The Business Research Company | PRODUCT CODE: 1531944
An electro-hydraulic servo valve is a critical component within hydraulic systems responsible for regulating the flow and pressure of hydraulic fluid based on an electrical input signal. These valves utilize electrical signals to precisely control the flow and pressure of hydraulic fluid, allowing for highly accurate manipulation of hydraulic actuators across diverse applications.
The principal types of electro-hydraulic servo valves include nozzle flapper valves, jet action valves, dynamic valves, deflector jet valves, and others. A nozzle flapper valve, for instance, is a pneumatic valve that converts mechanical displacement into a pressure signal. These valves are categorized into different stages such as single-stage servo valves, two-stage servo valves, and multi-stage servo valves. They find widespread use in industries ranging from aerospace, defense, and industrial manufacturing to construction, oil and gas exploration, and beyond.
The electro hydraulic servo valve market research report is one of a series of new reports from The Business Research Company that provides electro hydraulic servo valve market statistics, including electro hydraulic servo valve industry global market size, regional shares, competitors with an electro hydraulic servo valve market share, detailed electro hydraulic servo valve market segments, market trends, and opportunities, and any further data you may need to thrive in the electro hydraulic servo valve industry. This electro hydraulic servo valve market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electro hydraulic servo valve market size has grown strongly in recent years. It will grow from $2.10 billion in 2023 to $2.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historical period can be attributed to heightened emphasis on precision in industrial processes, increased utilization of multi-stage servo valves, greater focus on sustainability and energy efficiency, rising demand for high-performance hydraulic systems, and enhanced immunity to load variations.
The electro hydraulic servo valve market size is expected to see strong growth in the next few years. It will grow to $2.71 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. Projected growth in the forecast period is driven by the expanding adoption of industrial robots worldwide, widespread adoption of smart control technologies, increasing demand for energy-efficient solutions, expansion in the aerospace and defense sectors, and growing requirements for precision. Key trends anticipated include technological advancements, the development of electro-hydraulic servo valves for challenging operational environments, innovations in materials and control algorithms, enhancements in feedback mechanisms and sensors, and progress in actuator technology.
The increasing popularity of industrial robots is expected to drive growth in the electro hydraulic servo valve market in the coming years. Industrial robots are automated machines capable of performing various tasks in manufacturing and production settings. Their adoption is driven by factors such as improving productivity, addressing labor shortages, accommodating an aging workforce, and meeting demands for automation and precision. Electro-hydraulic servo valves play a crucial role in enhancing the functionality and performance of these robots by offering precise control, high-force capabilities, fast response times, and smooth operation. For example, as reported by the International Federation of Robotics (IFR) in October 2022, global installations of robots in factories reached 517,385 units in 2021, marking a 31% increase from 2020 and pushing the global operational stock to approximately 3.5 million units. This surge in industrial robot adoption underscores the significant impact driving the electro hydraulic servo valve market growth.
Leading companies in the electro hydraulic servo valve market are focused on developing innovative products, such as two-way servo cartridge valves, to enhance the precision and responsiveness of hydraulic systems. Two-way servo cartridge valves are designed to regulate fluid flow in hydraulic systems with high precision and responsiveness. For instance, Moog, a US-based manufacturer of electro-hydraulic servo valves, launched the Moog X700 Series 2-Way Servo Cartridge Valves in September 2022. These valves feature integrated electronics and closed-loop position control for precise and reliable operation in electro-hydraulic control systems. The Moog X700 Series is engineered to deliver superior flow performance, making them suitable for demanding applications in industries such as energy, industrial machinery, simulation, and testing.
In September 2022, Parker Hannifin Corporation, a US-based technology company, acquired Meggitt for $7.4 billion, aiming to strengthen its aerospace and defense capabilities. This acquisition integrates Meggitt's electro-hydraulic servo valve expertise and product portfolio with Parker's offerings, enhancing their market position and ability to serve diverse sectors effectively. Meggitt, based in the US, specializes in manufacturing electro-hydraulic servo valves, aligning with Parker's strategic expansion in critical industries.
Major companies operating in the electro hydraulic servo valve market are Schneider Electric AG, Honeywell International Inc., Eaton Corporation, Parker Hannifin Corp., Atos SE, Danfoss Inc., Bosch Rexroth AG, Voith GmbH, Moog Inc., Woodward Inc., KYB Corp., Bucher Hydraulics Inc., MTS Systems Corp., HAWE Hydraulik SE, HydraForce Ltd., Poclain Hydraulics Inc., Sun Hydraulics Corp., Oilgear Co., Continental Hydraulics Inc., Team Cooperation, Jansen Aircraft Systems Control, EMG Automation, Star Hydraulics Limited, DUPLOMATIC MS Spa,
North America was the largest region in the electro hydraulic servo valve market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electro hydraulic servo valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electro hydraulic servo valve market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electro hydraulic servo valve market consists of sales of rotatory valves and flexible servo valves. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electro Hydraulic Servo Valve Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electro hydraulic servo valve market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electro hydraulic servo valve ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electro hydraulic servo valve market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.