July 13, 2024

Expanding Adoption Of Automation Positively Impact The Electro Hydraulic Servo Valve Market

Market Overview:

Electro hydraulic servo valves are used in automation equipment to control hydraulic actuators. It receives electric signals from a controller and controls hydraulic oil flow to hydraulic cylinders or motors. Industries such as construction, mining, automotive, and others widely use hydraulic systems in vehicles, machinery and infrastructure to carry out various operations. Electro hydraulic servo valves play a critical role in such hydraulic systems by controlling fluid flow and enabling precise, smooth and efficient motions.

Market Dynamics:

Increasing automation in end use industries such as manufacturing, mining, construction etc. is a key driver for the electro hydraulic servo valves market. Growing adoption of automated machineries and technological advancements are prompting industries to upgrade existing systems with intelligent hydraulic solutions enabled by electro hydraulic servo valves. Furthermore, the need for precision and accuracy in industrial tasks is also driving adoption of electro hydraulic servo valves which provide accurate and delicat controllability. Additionally, development of compact electro hydraulic servo valves suitable for integration in smaller equipment is also bolstering their adoption.

Segment Analysis

The global Electro Hydraulic Servo Valve Market can be segregated into rotary servo valves and linear servo valves based on valve design. Rotary servo valves dominated the market in 2022 with over 60% share owing to their extensive usage across industrial machinery and other equipment requiring rotational motion control.

PEST Analysis

Political: Government initiatives promoting automation across industries is driving the adoption of EHSV for motion control applications.

Economic: Growing manufacturing sector and investments in industrial automation provides lucrative growth opportunities for EHSV market.

Social: Increasing demand for improving productivity and efficiency is propelling the use of advanced control valves for industrial processes.

Technological: Advancements in material science and electronics resulted in miniaturization and precise control capabilities of EHSV, augmenting their usage.

Key Takeaways

The Global Electro Hydraulic Servo Valve Market Demand is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing investments in industrial automation worldwide. The market size for 2023 is estimated to be US$ 2092.39 Mn.

Regional analysis:

 

The North America region dominated the global Electro Hydraulic Servo Valve market in 2022, accounting for over 35% of the total share, owing to strong presence of automation equipment manufacturers and process industry in countries like US and Canada. Europe and Asia Pacific regions are also expected to exhibit high growth owing to industrialization and focus towards Industry 4.0 in major economies like Germany, China and India driving increased adoption of motion control components including EHSV valves.

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.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it