The hydraulic actuator sector is poised for expansion

The hydraulic actuator sector is poised for expansion, driven by the rising sales of agricultural equipment and heightened expenditure in the construction industry, with a projected Compound Annual Growth Rate (CAGR) of 3.72% expected through 2028.

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 -  Updated: Mar 21, 2024 - 10:39
The hydraulic actuator sector is poised for expansion

The analysis provided in the report delves deeply into the market, indicating a valuation of US$2.795 billion in 2021. The market demonstrates favorable growth potential with a projected Compound Annual Growth Rate (CAGR) of 3.72%.

          Hydraulic actuators, crucial for precise control of heavy lifting and movement tasks in agriculture, construction, and mining, are witnessing increased demand. These actuators, employing pressurized fluid for generating motion or force, come in diverse types such as linear, rotary, and semi-rotary, crafted from materials like carbon steel or aluminum.

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