How Has the Hydraulic Equipment Market Size Evolved in Recent Years?
The hydraulic equipment market has seen considerable growth due to a variety of factors.
• The market size of hydraulic equipment has expanded significantly lately. The value is set to rise from $45.21 billion in 2024 to a projected $47.57 billion in 2025, marking a compound annual growth rate (CAGR) of 5.2%.
This upward trend during the historical period is predominantly owing to factors such as urbanization and industrialization, the rising need for cutting-edge agricultural machinery, growing demand for equipment to handle materials, the expansion of process industries, and the escalating incorporation of hydraulic systems into automated manufacturing processes.
What Are The Predictions for The Hydraulic Equipment Market in the Coming Years?
The hydraulic equipment market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the hydraulic equipment market is set to experience consistent growth, poised to reach a size of $55.58 billion in 2029, with a compound annual growth rate (CAGR) of 4.0%.
The predicted growth for the forecast period can be ascribed to the growth of the construction industry, a rising preference for environmentally friendly hydraulic solutions, increased demand in the aerospace and defense sectors, the adoption of electric vehicles, and a rise in demand from the mining industry. The forecast period will also see key trends like IoT integration, the launching of new manufacturing plants, the adoption of automated agricultural machinery, product advancements, and increased investments.
Which Drivers Are Accelerating Growth In The Hydraulic Equipment Market?
The hydraulic equipment market is projected to witness significant growth, largely driven by the rapidly growing construction sector. The latter comprises all tasks associated with planning, designing, building, and taking care of various physical structures, buildings, and infrastructures. Factors such as governmental expenditures on construction undertakings, increased investments in infrastructural projects, and stabilization of the real-estate market contribute to the sector's growth. Given that hydraulic systems can generate substantial force utilizing relatively small parts, they are particularly suited for high-intensive work like lifting, pushing, and pulling in the construction sector. This includes operating various machinery such as cranes, bulldozers, and excavators. A report by the Office for National Statistics, a UK-based official statistics manufacturer, indicated in August 2023 that the estimated construction output for June 2023 grew by 1.6%. This was spurred by a rise in both new construction activities (2.0%) and repair and maintenance tasks (1.1%). From Quarter 1 (January-March) to Quarter 2 (April-June) 2023, construction output experienced a 0.3% increase. As such, the burgeoning construction sector is fueling the hydraulic equipment market's expansion.
What Are The Core Segments Of The Global Hydraulic Equipment Market?
The hydraulic equipment market covered in this report is segmented –
1) By Component: Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions, Other Components
2) By Applications: Mobile, Industries
3) By End User: Mining And Construction, Agriculture And Mining, Packaging, Material Handling, Other Applications
Subsegments:
1) By Motors: Hydraulic Motors, Gear Motors, Piston Motors
2) By Pumps: Gear Pumps, Vane Pumps, Piston Pumps, Screw Pumps
3) By Cylinders: Double-Acting Cylinders, Single-Acting Cylinders, Telescopic Cylinders
4) By Valves: Directional Control Valves, Pressure Control Valves, Flow Control Valves, Check Valves
5) By Filters: Hydraulic Filters, Inline Filters, Return Line Filters
6) By Accumulators: Bladder Accumulators, Piston Accumulators, Spring Accumulators
7) By Transmissions: Hydraulic Transmissions, Hydrostatic Transmissions
8) By Other Components: Hoses And Fittings, Seals And O-Rings, Coolers And Heat Exchangers
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What Trends Are Reshaping The Future Of The Hydraulic Equipment Market?
Leading players within the hydraulic equipment market are stepping up their game by introducing cutting-edge products like energy-efficient hydraulic pumps. These innovative devises are built to convert mechanical energy into hydraulic energy while keeping the energy loss to the bare minimum. To illustrate, a pump manufacturing firm from Denmark known as Grundfos, unveiled the SP 6-inch hydraulic pump catered for groundwater pumping in January 2024. What sets the SP 6-inch hydraulic pump apart are its prominent features like its enhanced energy efficiency due to improved hydraulics, leading to substantial energy savings. It is built with a highly efficient permanent magnet motor which reinforces reliable performance while optimising overall efficiency. The rotor design, made with resilient stainless steel and a stainless steel-clad canned rotor, guarantees optimised operations and a longer lifespan. On top of this, the pump also has a broad temperature range of up to 140°F, paving the way for an array of applications.
Who Are the Key Players In The Hydraulic Equipment Market?
Major companies operating in the hydraulic equipment market are:
• Robert Bosch GmbH
• Siemens AG
• Komatsu Ltd.
• Motion Industries Inc.
• Parker Hannifin Corporation
• Emerson Electric Co.
• Kawasaki Heavy Industries Ltd.
• Danfoss AS
• SMC Corporation
• Festo SE
• Moog Inc.
• Concentric AB
• HAWE Hydraulik SE
• Linde Hydraulics Corp
• Wipro Infrastructure Engineering
• Casappa Corp
• Norgren Limited
• Hydac International GmbH
• Dantal Hydraulics Pvt. Ltd.
• Daikin Industries Ltd.
• Bucher Hydraulics Inc.
• Hannon Hydraulics Inc.
• Fluitronics GmbH
• American Design & Manufacturing Inc.
• Nachi-Fujikoshi Corp.
What Are The Regional Insights Into The Hydraulic Equipment Market?
North America was the largest region in the hydraulic equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
