Electro Hydraulic Servo Valve Market Size, Share, Growth, and Industry Analysis, By Type (Nozzle Flapper Valve, Jet Action Valve and Direct Drive Valve), By Application (Aerospace, Steel, Power, Petrochemical and Others) Regional Forecast To 2028

 REPORT OVERVIEW

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The global electro hydraulic servo valve market size is expected to be USD 1.649 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with electro hydraulic servo valve market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research and analysis, the market is projected to touch USD 1.946 billion by 2028, exhibiting a CAGR of 2.8% during the forecasting period. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

An electronically controlled valve that regulates the flow of fluid to the actuator is known as an electro hydraulic servo valve. The device employs a closed loop system, which gives the output exact control. Applications in the aerospace, steel, power, chemical, and other industries that need for precise fluid flow control are projected to see an increase in demand for electro hydraulic servo valves. However, throughout the anticipated period, issues like the high cost of the equipment are anticipated to restrain market expansion.

COVID-19 Impact: Numerous Production Interruptions Faced Due to the Pandemic

Nearly every industry, including aerospace, chemical, automotive, manufacturing, wind energy, and others, had been seriously disrupted by COVID-19. The majority of the countries had instituted a lockdown to battle the COVID-19 epidemic, and they are currently lifting it phase-by-phase and industry-by-industry. This had a big impact on the industrial industry because factories all around the world had to temporarily close. The global issue known as COVID-19 had a substantial impact on both the supply and demand sides of the market for electro hydraulic servo valves. Impacts on the labour, market demand, and supply chain all needed to be assessed by businesses.

Due to a labour shortage, businesses that provide hydraulic servo valves were seeing low demand and production interruptions. The coronavirus epidemic had significantly decreased commercial air travel. The aerospace supply chain's entire tier structure had been affected by the COVID-19 situation. Flight cancellations, travel prohibitions, and a significant halt in supply chain operations were all brought on by the COVID-19 epidemic. Because there was less need for maintenance, there was a decrease in demand for aeroplane spare parts. As the aircraft industry is a significant end-use industry for electro hydraulic servo valves, it is predicted that this will have a negative impact on the growth of the global market.

LATEST TRENDS

"Use of the Equipment Across a Variety of Industries to Stimulate Market Expansion"

In industrial automation, where system requirements necessitate increased electronic control precision, closed-loop electro hydraulic servo systems are growing in popularity. This is one reason why such a wide variety of applications and industries use this equipment. Numerous industries, including the steel industry, the power industry, the chemical industry, the construction sector, and others this equipment. In high-precision systems using high-power hydraulics managed by low power (200 mW) electronics, valves are used. Mining, power generating, and process plants all use hydraulic servo valves.

The strength and accuracy of the valves are used in the plastics manufacturing industry to raise the standard of blow-molded and injection-molded components. The steel industry relies heavily on the strength of hydraulics as well as the accuracy of electronic control. Additionally, a range of application fields, including material handling, oil and gas, and mobile equipment, are embracing hydraulic servo valves.

SEGMENTATION

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• By Type

Based on type; the market is divided into nozzle flapper valve, jet action valve and direct drive valve.

In terms of product, nozzle flapper valve is the largest segment.

• By Application

Based on application; the market is divided into aerospace, steel, power, petrochemical and others.

In terms of application, aerospace is the largest segment.

DRIVING FACTORS

"Use of the Equipment in Industrial Sector to Promote Market Growth"

Due to the growing use of electro hydraulic servo valves in the industrial sector, the global market for these valves is anticipated to expand significantly during the forecast period. Aerospace and industrial applications frequently use this equipment because it is essential part of closed-loop electro hydraulic motion control systems. It is utilized in a variety of industries, including astronavigation, aviation, navigation, and military, due to its benefits such as a high level of control precision, rapid response time, light weight, and small size. This is anticipated to drive the market growth.

"Wide Range of Applications in Aerospace Industry ""to Boost Market Growth"

During the anticipated period, the aerospace industry is anticipated to fuel electro hydraulic servo valve market growth. Due to the numerous uses of it in the aviation industry, including the precise control of position, velocity, pressure, and force in an aircraft, the analysis indicates that the electro hydraulic servo valve market has the most promising sales prospects in the aerospace industry. The two types of valves that are most commonly utilized in the aviation and air force sectors are jet pipe servo valves and nozzle flapper servo valves. Aerospace applications include turbine engine controls, military flight controls, hydraulic utilities, and braking applications primarily utilize nozzle flapper valves. Jet pipe, for instance, is provided by Parker Hannifin Corp.

The two types that are most commonly utilized in the aviation and air force sectors are jet pipe servo valves and nozzle flapper servo valves. Aerospace applications include turbine engine controls, military flight controls, hydraulic utilities, and braking applications primarily utilize nozzle flapper valves. As an illustration, Parker Hannifin Corp. provides Jet pipe valves for fighter jets and commercial passenger planes' flight control systems.

RESTRAINING FACTORS

"Exorbitant Prices of the Valves to Hinder Market Performance."

The high cost of electro hydraulic servo valve is the main issue impeding the growth of the global market for these valves. Despite their high cost, the equipment offers exceptional accuracy and increased precision in electronic control. Additionally, the manufacturer must include a pilot-filter for it, which might pollute over time and require expensive upkeep. This is one of the main things holding back the market.

REGIONAL INSIGHTS

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"North America to Dominate the Market Due to Adoption of Advanced Technology"

Due to the implementation of cutting-edge technology and the increasing use of hydraulic servo valves across a range of industries, including aerospace, the power industry, the steel industry, etc., North America is anticipated to have the biggest electro hydraulic servo valve market share throughout the projection period. For applications in various industries like defense, entertainment, automation, factory automation, lumber & wood, miscellaneous industrial, miscellaneous manufacturing, miscellaneous processing, and power generation, PARKER HANNIFIN CORP, a company based in the United States that specializes in motion and control technologies, offers SE05, SE10, and SE15 series two stage, 4-way, nozzle flapper style servo valves.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

The research provides a full overview of the analysis of the major electro hydraulic servo valve industry aspects, including sales value, sales volume, market revenue, and size of the demand as well as sales growth, pricing analysis, and shifting regional market growth factors. The market participants and their relative positions within the market are discussed in the report. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials contains information on producers, locations, types, applications, sales channels, and distributors.

List of Market Players Profiled

• Moog (U.S.)
• Bosch Rexroth (Germany)
• Parker Hannifin (U.S.)
• Danfoss (Eaton Hydraulics) (Denmark)
• AVIC Nanjing Servo Control System (China)
• Honeywell (U.S.)
• Qingfeng Hydraulic (China)
• Voith (germany)

REPORT COVERAGE

The study looks at the market channels and gives details on the factors that could potentially affect future global development. The research also examines geographical trends, end-use categories, market segments, and market size and share. It emphasises how crucial it is to outline a thorough regional study. In order to understand the major market drivers and entry obstacles, the Global Electro Hydraulic Servo Valve Market Study also performed a sector analysis. The study also makes recommendations for how companies should fortify their market positions in light of material changes in the market dynamics.