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

The Off-highway Actuators Market is segmented by type (Electric, Hydraulic, Pneumatic), by application (Throttle Control, Attachment & Lifting, Braking, Exhaust & After-Treatment, HVAC, Others), By Industry (Construction & Mining, Agriculture) and by Geography

Off-Highway Actuators Industry Overview

Off-highway Actuators Market Size
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 6 %

Major Players

Off-highway Actuators Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

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.

By Type
Electric
Hydraulic
Pneumatic
By Application
Throttle Control
Attachment & Lifting
Braking
Exhaust & After-Treatment
HVAC
Others
By Industry
Construction & Mining
Agriculture
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia Pacific
India
China
Japan
Rest of Asia-Pacific
Rest of the World
South America
Middle East & Africa

Report scope can be customized per your requirements. Click here.

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.

Off-highway Actuators Market Share

Asia-Pacific is Expected to Lead the Off-Highway Actuators Market

The off-highway actuators market is anticipated to lead by Asia-Pacific followed by Europe and North America respectively. The demand for off-highway machinery is majorly from china as china is the second-largest country in the world in terms of economy, has been consistently investing since 2011 in improving its infrastructure, with growing types of machinery and development in technologies.

The government of China has been rapidly approving big infrastructure projects, as the investment in infrastructure will directly boost the country’s economy. For instance:

  • The National Development and Reform Commission (NDRC) has approved 16 projects, worth a minimum of CNY 1.1 trillion (USD 163.2 billion) in total.
  • In between December 2017 and January 2018, the NDRC approved just seven projects, worth a total of CNY 105.79 billion (USD 15.69 billion).

Moreover, the housing authorities of Hong Kong have launched a number of measures to push-start the construction of low-cost housing.

  • The authorities projected a capital expenditure of HKD 23,923 million in the construction sector for affordable apartments in its 2018-19 budget. The budget was 7% higher than the budget allotted for the financial year 2017.

Thus, owing to the above-mentioned developments, the demand for off-highway actuators is expected to increase in the region.

Off-highway Actuators Market Growth

Off-Highway Actuators Market Competitor Analysis

The off-highway actuator market is captured by key players such as Thomson Linear Motion Systems, SKF Motion Technologies, BorgWarner Inc., Power Jack Motion, Ognibene Power and among others.

Off-Highway Actuators Market Top Players

  1. Thomson Linear Motion Systems

  2. SKF Motion Technologies

  3. BorgWarner Inc.

  4. Power Jack Motion

  5. Ognibene Power

*Disclaimer: Major Players sorted in no particular order

Thomson Linear Motion Systems, SKF Motion Technologies, BorgWarner Inc., Power Jack Motion

Off-Highway Actuators Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Electric

      2. 5.1.2 Hydraulic

      3. 5.1.3 Pneumatic

    2. 5.2 By Application

      1. 5.2.1 Throttle Control

      2. 5.2.2 Attachment & Lifting

      3. 5.2.3 Braking

      4. 5.2.4 Exhaust & After-Treatment

      5. 5.2.5 HVAC

      6. 5.2.6 Others

    3. 5.3 By Industry

      1. 5.3.1 Construction & Mining

      2. 5.3.2 Agriculture

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 India

        2. 5.4.3.2 China

        3. 5.4.3.3 Japan

        4. 5.4.3.4 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 South America

        2. 5.4.4.2 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share**

    2. 6.2 Company Profiles*

      1. 6.2.1 Thomson Linear Motion Systems

      2. 6.2.2 SKF Motion Technologies

      3. 6.2.3 BorgWarner Inc.

      4. 6.2.4 Power Jack Motion

      5. 6.2.5 Ognibene Power

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
You can also purchase parts of this report. Do you want to check out a section wise price list?

Off-Highway Actuators Market Research FAQs

The Off-Highway Actuators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028) is studied from 2018 - 2028.

The Off-Highway Actuators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028) is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

Thomson Linear Motion Systems, SKF Motion Technologies, BorgWarner Inc., Power Jack Motion, Ognibene Power are the major companies operating in Off-Highway Actuators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028).

Off-Highway Actuators Industry Reports

In-depth industry statistics and market share insights of the Off-Highway Actuators sector for 2020, 2021, and 2022. The Off-Highway Actuators research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Off-Highway Actuators report PDF.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!