The world hydraulic actuators market is ready to witness a major growth in its share, because of upcoming infrastructure projects and increased application in aerospace engineering.
A diverse range of productions in agricultural, construction, and mining equipment industries have amplified the need for hydraulic actuators in these industries. The hydraulic actuators, more commonly known hydraulic cylinders, have an established market, with their usage vital to many mobile and industrial applications. The increasing demand from emerging economies, dynamic market and trading practices, and innovative technologies have augmented the need for hydraulic cylinders.
Allied Market Research has recently published a report on the hydraulic actuators market. Analysts emphasize on the current market state and present forecasts on future market trends. The study has estimated that the world hydraulic actuator market is set to witness a CAGR of 3.6% from 2016 to 2022. The projected value of the global market size is $2.4 billion by 2022.