Off-Highway Actuators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Off-Highway Actuators Market Analysis

The Off-highway Actuators Market is poised to register a CAGR of over 6.00% over the forecast period (2020-2025).

• Off-highway vehicle actuator growth is dependent on the growth rate of agricultural and construction machinery industries. Rising agriculture mechanization trends in developing countries and spike in residential and commercial construction projects globally are driving the off-highway actuators markets.
• At the global level, the off-highway machinery is anticipated to grow significantly over the next decade owing to the growing demand for construction machinery from developed regions such as Europe. The recovery of Europe’s construction industry improved business in the mining and quarrying sectors, and a favorable economic environment with low-interest rates further stimulated investments into off-highway machinery which further boosts the actuators market.
• As the demand for electrification of off-highway vehicles is growing, manufacturers have started offering off-highway vehicles with more advanced actuators such as electric actuators and electrohydraulic actuators to improve the vehicle efficiency.

Off-Highway Actuators Industry Segments

The Off-highway Actuators market covers the latest off-highway technological trends, manufacturer's development, etc. The study also covers the market share of major off-highway actuators manufacturers across the globe.

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Off-Highway Actuators Market Trends

This section covers the major market trends shaping the Off-Highway Actuators Market according to our research experts:

Electric Actuators Are Likely to Lead the Off-Highway Actuator Market

An electric actuator is a device, which converts applied electrical energy into mechanical torque. Electric actuators are increasingly being used to position loads on new off-highway vehicles and machinery including sprayer booms, snow blowers, and turf, garden, and agricultural equipment.

Electric actuator systems consist of a motor, gearbox, lead or ball screw, and clutch. An off-road vehicle's battery is usually enough to power the actuator, and along with a switch, fuse, and a few wires, the basic system is ready to run. Compare this to a hydraulic system that has many more components needed to position similar loads. Actuators are replacing hydraulic cylinders in equipment that needs more compact, rugged, and cleaner positioning components, such as in lawn-care equipment for expensive golf greens where hydraulic leaks cannot be tolerated.

The level of electrification of off-highway machinery is growing such as mild hybridization or full electrification. Among the many prototypes developed, some hybrid off-highway vehicles have been introduced into the market and they have shown significant gains in performance and considerable reductions in operating costs. As the electrification of off-highway vehicles is growing the demand for off-highway electric actuators is anticipated to grow significantly over the forecast period.

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