Electro hydraulic servo valve is an electrically operated valve that controls the flow of the fluid to the actuator. The device uses closed loop system, which provides precise control over the output. The demand for electro hydraulic servo valves is expected to increase in various industry applications such as aerospace, steel industry, power industry, chemical industry, and others, which requires precise control of the fluid flow. However, factors such as high cost of electro hydraulic servo valve is expected to hamper the market growth during the forecast period.
The global electro hydraulic servo valve market is segmented into valve type, stage type, application, and region. On the basis of valve type, the market is segmented into nozzle flapper valve, jet pipe servo valve, and direct drive servo valve. Among which, nozzle flapper valve segment generated the largest revenue in 2019. Furthermore, on the basis of stage type, the global electro hydraulic servo valve market is segmented into single-stage servo valve, two-stage servo valve, and multi-stage servo valve. On the basis of application, the market is segmented into aerospace, steel industry, power industry, chemical industry, and others. On the basis of region, the global electro hydraulic servo valve market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America region accounted for the largest share in the global electro hydraulic servo valve market in 2019. Asia Pacific is expected to exhibit high CAGR over the forecast period.
The global electro hydraulic servo valve market is expected to witness significant growth during the forecast period (2021–2028) due to increasing adoption of electro hydraulic servo valves in industrial sector. Electro hydraulic servo valves are widely used valves in industrial applications and aerospace, as these are key components for closed loop electro hydraulic motion control systems. Due to its advantages such as high level of control precision, quick response time, light weight, and compact size, electro hydraulic servo valves (EHSV) are used in various fields such as astronavigation, aviation, navigation, and defense.
Moreover, electro hydraulic servo valve finds applications in wide range of industries such as steel industry, power industry, chemical industry, construction sector, and others. Electro hydraulic servo valves are used in high-precision systems employing high-power hydraulics controlled by low power (<200 mW) electronics. Closed-loop electro hydraulic servo systems are becoming more popular in machine automation, where the system requirements demand greater precision in electronic control. Electro hydraulic servo valves find applications in a process plant, power generation, and mining. The plastic manufacturing sector uses the power and precision of electro hydraulic servo valves for improving the quality of blow-molded and injection-molded parts. In the steel industry, the power of hydraulics is essential along with the precision of electronic control. Furthermore, electro hydraulic servo valves are also gaining wide acceptance in a variety of application areas such as material handling, oil and gas, and mobile equipment.
|Base Year:||2020||Market Size in 2020:||US$ 1,898.2 Mn|
|Historical Data for:||2017 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2021 to 2028 CAGR:||3.3%||2027 Value Projection:||US$ 2,462.8 Mn|
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
|Restraints & Challenges:||
The major factor restraining growth of the global electro hydraulic servo valve market is high cost of electro hydraulic servo valves. Electro hydraulic servo valves provide excellent accuracy and greater precision in electronic control, however these valves are of high cost. In addition, electro hydraulic servo valves require pilot-filter which is supplied by the manufacturer, which can become contaminated and require costly maintenance. This is one of the primary factors which is hampering growth of the electro hydraulic servo valves market.
Additionally, proportional valves provide a cost-effective alternative to conventional nozzle-flapper electro hydraulic servo valves. Proportional valves benefit from a simpler mechanical design that costs less to manufacture, while utilizing on-board integrated electronics and feedback to achieve servo-quality spool control performance. Therefore, the availability of cost-effective alternative to electro hydraulic servo valves is expected to hamper the market growth during the forecast period.
Global Electro Hydraulic Servo Valve Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has significantly disrupted almost all the industries including, aerospace, chemical, automotive, manufacturing, wind energy, and others. To combat COVID-19 pandemic, most of the countries had implemented lockdown and are now easing it phase-wise and industry wise. This has significantly impacted manufacturing sector as the facilities across the globe were temporarily shut down.
COVID-19 has turned into a global crisis and it has a significant impact on the supply-side as well as the demand side of the electro hydraulic servo valve market. Companies need to evaluate impacts on three fronts: supply chain, market demand, and workforce.
Companies offering electro hydraulic servo valve are experiencing disruption in production and low demand due to lack of availability of workers. The coronavirus pandemic has reduced commercial air travel significantly. The COVID-19 crisis has disrupted entire tier structure of the aerospace supply chain. The outbreak of COVID-19 has led to flight cancellations, travel bans, and massive slowdown in the supply chain activity. Demand for spare parts of aircraft is also down since less maintenance is required currently. Therefore, it is estimated to have negative impact on the growth of the global electro hydraulic servo valve market as the aerospace industry is a key end-use industry of electro hydraulic servo valves.
North America held dominant position in the global electro hydraulic servo valve market in 2020
North America held dominant position in the global electro hydraulic servo valve market in 2020, accounting for 33.8% share in terms of value, followed by Europe and Asia-Pacific.
Figure 1: Global Electro Hydraulic Servo Valve Market Share (%), By Region, 2020
North America is expected to account for the largest market share during the forecast period, owing to adoption of advanced technology along with rising usage of electro hydraulic servo valves in various industries such as aerospace, power industry, steel industry, etc. For instance, PARKER HANNIFIN CORP, a U.S.-based company specializing in motion and control technologies, offers SE05, SE10, and SE15 series two stage, 4-way, nozzle flapper style servo valves for applications in various industries such as defense, entertainment, automation, factory automation, lumber & wood, miscellaneous industrial, miscellaneous manufacturing, miscellaneous processing, and power generation
Aerospace segment is expected to drive the market growth during the forecast period
Among application, the aerospace segment is expected to hold dominant position in the global electro hydraulic servo valve market during the forecast period. According to the CMI analysis, electro hydraulic servo valve market has the most promising sales prospects in the aerospace industry owing to the various applications of electro hydraulic servo valves in aviation industry such as precise control of position, velocity, pressure, and force in an aircraft.
Jet pipe electro hydraulic servo valve and nozzle flapper electro hydraulic servo valve are two kinds of servo valves which are the most used in the air-force and aviation industry. Nozzle flapper electro hydraulic servo valves are mainly used in aerospace applications such as turbine engine controls, military flight controls, hydraulic utilities, and braking applications. For instance, Parker Hannifin Corp offers Jet pipe electro hydraulic servo valve for flight control systems for commercial passenger planes and military fighter aircrafts.
Figure 2: Global Electro Hydraulic Servo Valve Market Value (US$ Mn) Analysis and Forecast, 2017 - 2028
The global electro hydraulic servo valve market was valued at US$ 1,898.2 Mn in 2020 and is expected to reach US$ 2,462.8 Mn by 2028 at a CAGR of 3.3% between 2021 and 2028.
Major players operating in the global electro hydraulic servo valve market include Moog, Inc., EMG Automation GmbH, Honeywell, Bosch Rexroth, Voith, Parker Hannifin, Aviation industry Nanjing Servocontrol Limited company, Woodward, Inc., Eaton Corporation, Schneider Kreuznach, Star Hydraulics Limited, Oilgear, YUKEN KOGYO CO., LTD, and Duplomatic Motion Solutions
The electro hydraulic servo valve systems is an important part of servo control systems, which helps to control the flow of valve. The device uses closed loop system, which provides precise control over the output. The servo valve system is ued in various application including aerospace, steel industry, power industry, chemical industry, and others.
The global electro hydraulic servo valve market is expected to grow significantly during the forecast period. With the rapid advancements in technologies and capabilities of automated control systems, electro hydraulic servo valve manufacturers are currently prioritizing R&D activities for product differentiation. For instance, Moog Inc.’ engineers employ new materials, designs, and manufacturing process to maximize servo valve life expectancy. Moog Inc. offers hydraulic servo valves that includes design advantages such as a disc filter, square body, single piece flapper/wire and a carbide ball that replaced the traditional steel material.
Growth in mining and oil & gas industry will boost various opportunities that will lead to the growth of electro hydraulic servo valve market during the forecast period. For instance, according to CMI’ analysis in 2018, China (including the Chinese government and private companies) invested around US$ 80 billion in the Middle East oil and gas projects to support its The Belt and Road Initiative. Additionally, long-term supply agreements with oil field and mining companies will provide growth opportunities for the market players.
Furthermore, key players in the market are tapping into opportunities in ongoing projects of natural gas exploration and transportation pipelines, coupled with upcoming mining projects in fast-developing markets of China, India, Brazil, and South Africa. For instance, in 2013, Emerson Valve Technologies was awarded contract by Chevron Australia Pty Ltd, which was valued at US$ 67 million to provide hydraulic control valves and valve actuators to help ensure the efficient and safe flow of natural gas at Australia-based Gorgon Project, one of the world’s largest natural gas projects.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.