Global electro hydraulic servo valve market is estimated to witness steady growth, owing to increasing aerospace applications & emerging opportunities in wind energy sector
Global electro hydraulic servo valve market is estimated to be valued at US$ 2.41 Bn in 2024, exhibiting a CAGR of 5.7% over the forecast period (2024-2031). The market growth is driven by increasing applications of electro hydraulic servo valves in aerospace industry for flight control systems. Furthermore, emerging wind energy sector can open new opportunities for electro hydraulic valves in wind turbine applications.
Market Dynamics:
Global electro hydraulic servo valve market growth is driven by factors like increasing aerospace industry and emerging opportunities in wind energy sector. Aerospace industry has seen witnessed growth over the past few years due to rising passenger and freight traffic. This has boosted demand for new aircrafts, contributing to the incorporation of advanced flight control electro hydraulic valves. Renewable energy market has been growing at a robust pace. The wind energy sector has been adopting large wind turbines with customizable speed and torque control requirements. This has created new prospects for customized electro hydraulic solutions.
Increasing demand from aerospace industry can drive the global electro hydraulic servo valve market
The aerospace industry is one of the major end users of electro hydraulic servo valves. Electro hydraulic servo valves are essential components used in flight control systems, landing gear, thrust vectoring systems and nose wheel steering applications. With commercial air travel growing consistently every year, aerospace manufacturers are increasing aircraft production to meet the rising demand. This massive increase in aircraft production can boost demand for advanced flight control components like electro hydraulic servo valves. The market for commercial aircraft will witness growth, and this can boost demand for electro hydraulic servo valves from the aerospace sector.
Growing adoption of robotics can drive the market growth
Growing adoption of industrial robots across various industries like automotive, electronics and manufacturing can drive the electro hydraulic servo valve market growth. Electro hydraulic servo valves play a vital role in robotics by enabling precise motion control capabilities. These enable robots to perform complex tasks with high accuracy by controlling end-of-arm tools, grippers, welding guns and other attachments. The robotics industry is growing at a rapid pace with collaborative robots gaining widespread acceptance in small and medium enterprises. Increased investments in automation to enhance productivity and reduce costs can boost need for advanced motion control components like electro hydraulic servo valves in robotics applications.
High procurement and manufacturing costs
Global electro hydraulic servo valve market growth can be hampered due to their high procurement costs. Designing and manufacturing electro hydraulic servo valves requires precise components and complex assembly processes, which make them expensive products. High precision solenoid driven spools and feedback sensors increases manufacturing overhead. Rigorous testing and certification procedures according to aerospace standards further add to the costs. These high costs can limit their adoption in cost-sensitive applications. Furthermore, frequent breakdowns and repairs also contribute to the total ownership costs of electro hydraulic servo valves. The high costs associated with procuring and maintaining electro hydraulic servo valves can hamper the wider commercialization potential especially in price-sensitive markets.
Stringent aviation regulations challenges market growth
Growing aircraft safety regulations around the world present a challenge for electro hydraulic servo valve manufacturers and integrators. Regulatory agencies like FAA and EASA have implemented stringent certification standards and procedures for flight control components. Certification testing involves rigorous compliance demonstrations, documentation and periodic audits throughout the product lifecycle. Obtaining supplemental type certificates (STCs) for new products or design modifications is a costly and time-consuming process. Aviation regulators are continuously enhancing airworthiness directives to ensure continued operational safety. Complying with the changing regulatory landscape demands significant investments and lengthens time-to-market for new product introductions. The compliance burden of rigid aviation safety norms negatively impacts the development and commercialization of newer and upgraded electro hydraulic servo valve models.
Growing adoption of green technologies to boost opportunities
With increasing awareness about environmental protection, there has been huge adoption of green technologies across various industries. Electro hydraulic components manufacturers are responding to this trend by developing advanced servo valves with better energy efficiency and lower emissions. Technologies like electric flight and hybrid-electric propulsion systems can open up new opportunities. There will be huge demand for lightweight and more efficient electro hydraulic servo valves optimized for green applications. Leveraging new materials and power electronics can help component makers expand into sunrise sectors prioritizing energy efficiency and sustainability. The shift towards green technologies will present lucrative prospects for manufacturers developing next-gen electro hydraulic servo valves.
Rising investments in renewable energy sector
The world is witnessing substantial investments in renewable energy like solar and wind power to reduce carbon emissions. Advanced motion control systems play a vital role in maximizing the efficiency of wind turbines and solar tracking systems. Electro hydraulic servo valves are used for blade pitch control and yaw drive applications in wind turbines. In solar tracking systems, these help optimize the positioning of photovoltaic panels. With more countries adopting renewable energy targets to transition to clean power, there will be huge demand for high-precision control components like electro hydraulic servo valves from this burgeoning sector. Manufacturers should tap into opportunities emerging from the growing investments in solar and wind energy markets.
Link: https://www.coherentmarketinsights.com/market-insight/electro-hydraulic-servo-valve-market-4427
Key Developments:
- In August 2023, Honeywell, a global leader in technology and manufacturing known for its innovative solutions across various industries, launched a new electro-hydraulic servo valve specifically designed for industrial automation. This advanced valve is engineered to provide precise control of fluid flow, enhancing the efficiency and reliability of automation systems in demanding environments. With its robust design and high-performance capabilities, the new servo valve is expected to support a wide range of applications, including robotics and heavy machinery, where accurate hydraulic control is essential. Honeywell's commitment to advancing automation technologies is further demonstrated by this launch, which aims to meet the growing demand for sophisticated control solutions in the industrial sector.
- In March 2023, Eaton Corporation, a global leader in power management solutions, expanded its manufacturing facility in Europe to increase production of servo valves. This expansion is part of Eaton's strategy to enhance its capabilities in the hydraulics market, particularly in response to the growing demand for advanced hydraulic solutions across various industries. By investing in its European operations, Eaton aims to improve its production efficiency and meet the needs of customers seeking high-performance servo valves for applications in aerospace, automotive, and industrial automation. This move reflects Eaton's commitment to innovation and operational excellence, positioning the company for sustained growth in the competitive hydraulics sector.
- In September 2022, Moog Inc., a global leader in precision motion control solutions, launched its X700 Series servo cartridge valves. These valves are designed for use in electrohydraulic control systems, particularly those requiring high dynamic response and flow performance. The X700 Series features a robust design capable of withstanding a maximum main stage operating pressure of 420 bar (6,000 psi), making them suitable for demanding applications in industries such as die casting, metal forming, and heavy machinery. By leveraging its expertise in motion control technology, Moog aims to provide customers with advanced hydraulic solutions that enhance productivity, efficiency, and safety in their operations.
- In August 2022, Voith GmbH & Co. KGaA, a global leader in engineering and technology, finalized the acquisition of ARGO-HYTOS Group, a prominent supplier of hydraulic system solutions with over 75 years of experience in fluid and motion control. This acquisition marks a significant expansion in Voith's hydraulics business, enabling the company to enhance its capabilities in developing and producing hydraulic components and system solutions, particularly for the off-highway sector. By integrating ARGO-HYTOS's innovative technologies and expertise, Voith aims to accelerate its growth trajectory in the competitive hydraulics market, positioning itself to better meet the evolving demands of various industries.
- In September 2021, Parker Hannifin Corporation, a global leader in motion and control technologies, acquired a technology firm to enhance its capabilities in electro-hydraulic systems. This strategic acquisition is aimed at strengthening Parker's position in the hydraulics market, particularly in sectors requiring advanced control solutions. By integrating the new technology, Parker aims to improve the performance and efficiency of its electro-hydraulic systems, which are critical for various applications in aerospace, industrial automation, and mobile equipment. This move reflects Parker Hannifin's ongoing commitment to innovation and its focus on delivering high-quality solutions that meet the evolving needs of its customers across multiple industries.
Key Player:
Moog Inc., Parker Hannifin Corporation, Bosch Rexroth AG, Eaton Corporation, Honeywell International Inc., SMC Corporation, Emerson Electric Co., Bellofram Corporation, Aro Inc. (Ingersoll Rand), Ametek, Inc., Danfoss A/S, Controls and Measurements, Inc., MTS Systems Corporation, Festo AG & Co. KG, and Aven Robotics
