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 Valve is a type of servo valve used in hydraulic servo systems to control actuator positioning in industrial equipment and machineries with high accuracy. They are compact in size, consume less power and provide high controllability in hydraulic machinery.
Market key trends:
One of the key trends in the Electro Hydraulic Servo Valve Market is the rising demand for advanced servo valves from aerospace & defense sector. Electro Hydraulic Servo Valves are extensively used in flight control systems, landing gears, weapons deployment and aircraft fuel systems. Their use reduces response time, increases controllability and provides smooth operations. Growing aircraft production and modernization of fighter jets is driving the demand for advanced Electro Hydraulic Servo Valves in the sector.
Segment Analysis
The global electro hydraulic servo valve market is segmented into industrial, aerospace, and automotive sub segments. Among these, the industrial sub segment dominates the market and holds the largest market share. Industrial sub segment includes applications in industrial manufacturing machines, material handling equipment, mobile industrial equipment etc. The industrial sub segment experiences high demand due to increasing industrial automation across various industries globally.
Key Takeaways
The Global Electro Hydraulic Servo Valve Market Demand is expected to witness high growth, exhibiting a CAGR of 3.3% over the forecast period, due to increasing adoption of industrial automation globally.
Regional analysis
Regionally, Asia Pacific is expected to witness fastest growth in the electro hydraulic servo valve market over the forecast period. Increasing industrialization and automotive production in countries like China and India is driving the electro hydraulic servo valve market growth in Asia Pacific. North America is currently dominating the market owing to strong presence of key players in the region.
Key players
Key players operating in the electro hydraulic servo valve market are Matrox Imaging Ltd., Omron Adept Technology, Inc., Toshiba Teli Corporation, Ltd., Cognex Corporation, ISRA VISION AG, Panasonic Corporation, Omron Microscan Systems Inc., Perceptron, Inc., Sharp Corporation, Edmund Optics, AMETEK, Inc., Teledyne Technologies, Keyence Corporation, Datalogic S.p.A., Sony Corporation, Basler AG, Vitronic GmbH, SICK AG, IMS Messsysteme GmbH, Industrial Vision Systems Ltd., Allied Vision Technologies, Baumer Group, and Dark Field Technologies.
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