How Has the Hydraulics Market Evolved Historically and What is its Current Size?
The hydraulics market has seen considerable growth due to a variety of factors.
• The hydraulics market has shown strong growth in recent years. It is projected to grow from $42.59 billion in 2024 to $44.75 billion in 2025, with a compound annual growth rate (CAGR) of 5.1%.
This growth is attributed to the rising use of hydraulic fluids, the adoption of hydraulic systems in aerospace and marine industries, increasing demand for these systems in the oil and gas and manufacturing sectors, and growing use in transportation.
What Does Future Hold for The Hydraulics Market By 2029?
The hydraulics market is expected to maintain its strong growth trajectory in upcoming years.
• The hydraulics market is projected to grow to $53.73 billion by 2029, at a CAGR of 4.7%.
The growth is driven by government infrastructure initiatives, demand for high-efficiency hydraulic systems, urbanization, significant R&D investments, and improving the reliability of hydraulic components. Trends include integration of hydraulic and electric systems, advanced simulation tools, high-pressure systems, noise reduction, and digital replicas of hydraulic systems.
What Are The Primary Growth Drivers In The Hydraulics Market?
Infrastructure development projects are expected to boost the hydraulics market. These projects are driven by urbanization, economic growth, government support, technological progress, and increasing concerns about the environment and natural disasters. Hydraulic technology is crucial in the construction and maintenance of infrastructure. For example, in July 2024, the UK Office for National Statistics reported a 9.6% increase in total government investment in infrastructure in 2022 compared to 2021, totaling around $32.4 billion. This rise in infrastructure investment is contributing to the growth of the hydraulics market.
What Is The Segmentation Of The Global Hydraulics Market?
The hydraulics market covered in this report is segmented –
1) By Product Type: Hydraulic Pumps, Hydraulic Motors, Hydraulic Cylinders, Hydraulic Valves, Hydraulic Filters, Other Product Types
2) By Application: Construction, Agriculture, Automotive, Aerospace, Oil And Gas, Mining, Marine, Other Applications
3) By End-User: Original Equipment Manufacturers (OEMS), Aftermarket
Subsegments:
1) By Hydraulic Pumps: Gear Pumps, Piston Pumps, Vane Pumps, Screw Pumps
2) By Hydraulic Motors: Gear Motors, Vane Motors, Piston Motors, Radial Piston Motors
3) By Hydraulic Cylinders: Single-Acting Cylinders, Double-Acting Cylinders, Telescopic Cylinders, Rodless Cylinders
4) By Hydraulic Valves: Directional Control Valves, Pressure Relief Valves, Flow Control Valves, Check Valves
5) By Hydraulic Filters: Return Line Filters, Pressure Line Filters, Suction Filters, Inline Filters
6) By Other Product Types: Hydraulic Accumulators, Hydraulic Tanks, Hydraulic Hose And Fittings, Hydraulic Seal Kits
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How Are New Trends Impacting The Size Of The Hydraulics Market?
Leading firms in the hydraulics market are progressing in the creation of advanced hydraulic components to enhance efficiency, reliability, and operational performance. Hydraulic components like pumps, valves, and cylinders are critical for power transmission through fluid pressure. For example, in November 2023, Denmark's manufacturing firm Danfoss introduced the Danfoss H1F fixed displacement bent axis hydraulic motor. This motor, equipped with an overall efficiency of up to 95% and compact design, is apt for both open and closed-circuit uses. Specifically constructed for agricultural, construction, and forestry machinery, it guarantees high performance along with dependability.
Who Are the Key Players In The Hydraulics Market?
Major companies operating in the hydraulics market are:
• Caterpillar Inc
• Komatsu Ltd
• Eaton Corporation
• Parker Hannifin Corporation
• Kawasaki Heavy Industries Ltd.
• Webtec Products Limited
• Moog Inc.
• KYB Corporation
• HYDAC International GmbH
• Nachi-Fujikoshi Corporation
• Bucher Hydraulics
• Hengli Hydraulic
• HAWE Hydraulik SE
• HydraForce Inc.
• Concentric Hydraulics
• Prince Manufacturing Corporation
• Linde Hydraulics GmbH & Co. KG
• Oilgear Company
• Yuken Kogyo Co. Ltd.
• Cross Manufacturing Company Inc.
• Walvoil S.p.A
• Permco Inc.
• Salami SpA
What Are The Regional Insights Into The Hydraulics Market?
Asia-Pacific was the largest region in the hydraulics market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
