What Has Been the Progress and Growth of the Fluid Power Equipment Market in Recent Years?
The fluid power equipment market has seen considerable growth due to a variety of factors.
• Growth has been robust in recent years in the fluid power equipment market, with its size expected to increase from $32.49 billion in 2024 to $34.92 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 7.5%.
Factors that contributed to growth in the historical period include the expansion of construction and infrastructure projects, use in the automotive industry, demand for mining and material handling equipment, increased use in the energy sector, and applications in the aerospace and defense sectors.
How Will The Fluid Power Equipment Market Size Evolve In The Foreseeable Future?
The fluid power equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market for fluid power equipment is predicted to witness considerable expansion in the coming years, reaching an estimated value of $47.6 billion by 2029, corresponding to a compound annual growth rate (CAGR) of 8.1%.
This surge during the forecast period could be a response to the escalating renewable energy projects, the emphasis on energy efficiency, the growth of e-commerce and logistics, the rising adoption of electricity-run and hybrid vehicles, as well as infrastructure evolution in growing markets. Dominant trends anticipated for the forecast period encompass the integration of 4.0 industrial technologies, further developments in hydraulic technology, focus on energy-saving solutions, advancements in hydraulic fluid, and an increasing emphasis on condition observation and predictive upkeep.
What Are The Key Drivers Fueling Growth In The Fluid Power Equipment Market?
The rise in demand from the food and beverage sector is playing a significant role in propelling the fluid power equipment market's growth. The said sector includes firms engaged in processing, packaging, and distributing both food products and beverages, both alcoholic and non-alcoholic. The use of fluid power equipment in this industry ranges from processing to transferring ingredients and ultimately packaging. As per a report by Common Thread Collective, a US-based e-commerce growth agency, in April 2022, the worth of worldwide food and beverage sales accelerated, going from $435.3 billion in 2021 to $506 billion in 2022. These sales are even expected to hit the $857 billion mark by 2025. Consequently, the increased demand from these industries fuels the fluid power equipment market's growth.
What Are The Core Segments Of The Globa Fluid Power Equipment Market?
The fluid power equipment market covered in this report is segmented –
1) By Type: Hydraulic, Pneumatic
2) By Product Types: Pumps, Motors, Valves, Cylinders, Accumulators And Filters, Other Product Types
3) By Application: Construction, Automotive, Oil And Gas, Food Processing, Packaging, Semiconductor, Other Applications
Subsegments:
1) By Hydraulic: Hydraulic Pumps, Hydraulic Cylinders, Hydraulic Valves, Hydraulic Motors, Hydraulic Accumulators
2) By Pneumatic: Pneumatic Cylinders, Pneumatic Valves, Pneumatic Compressors, Pneumatic Actuators, Pneumatic Accessories
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Which Emerging Trends Are Reshaping The Fluid Power Equipment Market Size?
The fluid power equipment market is witnessing a growing trend of strategic alliances and cooperations. Major corporations in this segment are increasingly focusing on establishing partnerships to expand their product lines and dominate the market. For example, in June 2022, Bosch Rexroth, a German engineering company that supplies hydraulic products, teamed up with AGILOX to tap into the autonomous mobile robots market. The mission behind this collaboration was to amalgamate robust products and expand their global footprint. AGILOX hails from Austria and specializes in automation. In a similar development, in February 2022, Parker Hannifin Corporation, a US-based firm pioneering in motion technologies and manufacturing hydraulic pumps and power systems, allied with Cummins Inc. The collaboration aimed at incorporating connected engine solutions into Parker's Mobile IoT platform. This alliance offers customers the benefit of receiving instant alerts as well as the facility to access diagnostic messages for Parker components and Cummins engines through a unified dashboard. Cummins, an American firm, produces filtration systems, engines, and power generation equipment.
Who Are the Key Players in the Fluid Power Equipment Market?
Major companies operating in the fluid power equipment market include:
• Hengli America Inc.
• Eaton Corporation plc
• Parker Hannifin Corporation
• Kawasaki Heavy Industries Ltd.
• Atos S.p.A.
• Dover Corporation
• Bosch Rexroth AG
• Alfa Laval
• Festo SE & Co. KG
• Flowserve Corporation
• Crane Holdings
• Hydac GmbH
• Graco Inc.
• Colfax Ltd.
• Helios Technologies Inc.
• Christian Bürkert GmbH and Co
• Circor International
• Moog Inc.
• Sparrows Offshore Group Limited
• Bucher Hydraulics GmbH
• Oilgear Company
• Casappa S.p.A
• Duplomatic Motion Solutions S.p.A.
• Hawe Hydraulik SE
• Fluid Systems Inc.
• Daikin Industries Ltd.
• Daman Products Co. Inc.
• Fluid-Power Equipment Inc.
• Applied Fluid Power
• Hydraulics International Inc.
• BVA Hydraulics
What are the Regional Insights into the Fluid Power Equipment Market?
Asia-Pacific was the largest region in the field power equipment market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the fluid power equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
