The global hydraulic equipment market size is projected to be worth around US$ 53 billion by 2030, from US$ 41 billion in 2020, growing at a CAGR of 4.1% over forecast period 2021 to 2030.
Machines that use liquid fluid power for their operations are referred to as hydraulic machines. Hydraulic liquid is pumped to cylinders and motors through the machine and is pressurized considering the resistance. The valves control the flow of liquid, and the liquid is further distributed through pipes, hoses, or tubes. The system can be operated on just one ON/OFF button. In addition, as there are no gears or levers involved in the operation, the weight of the system is reduced. The hydraulic equipment holds on to constant force irrespective of change in speed of the operation.
Hydraulic equipment are mobile and industrial. Mobile hydraulic equipment are used in moving objects such as cranes, loaders, dumpers, bulldozers, and similar other machines, whereas industrial hydraulic equipment are used in industries, including packaging, paper, plastic, and printing. Mobile equipment are commonly used in various industries such as construction & mining industry hydraulic hammers, excavators, and loaders to carry out a wide range of activities. . Similarly, in the agriculture & forestry, industry tractors, harvester, harrow and chippers & shredders are used. Furthermore, pumps, valves, cylinders, and motors are used as parts of various machines to carry out different kind of operations according to the application in the industries such as paper, packaging, printing, and plastic. For instance, valves are used in filling machines used to fill various types of containers, cans, bottles, or tetra packs.
Development of construction & mining industries, automation in agriculture, and expansion of new manufacturing facilities have boosted the demand for hydraulic equipment. To meet the increasing demand, manufacturers of hydraulic equipment have adopted several strategies to expand their product portfolio and offer better service to their customers. For instance, J C Bamford Excavators Ltd. (JCB), a mobile machinery manufacturer, launched New Telehandler, Backhoe, and Electric Mini-Excavator in March 2020 at American Rental Association show in Anaheim. Similarly, in December 2020, Eaton, a residential and industrial components manufacturer, launched Delta series motor with integrated parking brake, which is a reliable and compact solution to enhance design flexibility operation. Such strategies boost the demand for technically advanced hydraulic equipment, thereby promoting the growth of the market.
Moreover, due to the COVID-19 production of hydraulic equipment was halted as many countries were under lockdown. Additionally, due to the lockdown’s across the countries the demand for the hydraulic equipment also subdued significantly. Although many countries have lifted the lockdown and are trying to revive the economy, however the increase in demand for hydraulic equipment will be slow through 2020. The major demand for hydraulic equipment usually originated from some of the major manufacturing countries such as the U.S., Germany, Italy, and the UK which are badly affected by the pandemic due to which the market has been affected negatively.
By application, in 2020, the industrial segment dominated the hydraulic equipment market, in terms of revenue; however, the mobile segment is expected to grow at a higher CAGR during the forecast period.
On the basis of end user, the other segment led the hydraulic equipment market in 2020, in terms of revenue, whereas the packaging segment is anticipated to register a higher CAGR during the forecast period.
Depending on product, in 2020, the cylinders segment exhibited high growth rate, in terms of revenue, however, the motors segment is projected to grow at a notable CAGR in the near future.
Region wise, the hydraulic equipment market in Asia-Pacific contributed the highest share in 2020, and is anticipated to secure the leading position during the forecast period.
The major players profiled in the hydraulic equipment industry include Daikin Industries Ltd., Danfoss A/S, Eaton, Emerson Electric Co., Kawasaki Heavy Industries Ltd., Komatsu Ltd., Parker-Hannifin Corp., Robert Bosch GmbH, Siemens AG, and Wipro Limited. The key strategies adopted by the players to strengthen their foothold in the competitive market include product launch, acquisition, and business expansion.
Key Market Segments
By End User
The report provides revenue of the global hydraulic equipment market for the period 2017–2030, considering 2021 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global market during the forecast period. The global hydraulic equipment market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2021 to 2030.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted hydraulic equipment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global hydraulic equipment market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global hydraulic equipment market.
The report delves into the competitive landscape of the global hydraulic equipment market. Key players operating in the global hydraulic equipment market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global hydraulic equipment market that have been profiled in this report.
The hydraulic equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hydraulic equipment market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of hydraulic equipment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new hydraulic equipment market. These factors have benefited the growth of the global market for hydraulic equipment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for hydraulic equipment.
In this study, the years considered to estimate the market size of hydraulic equipment are as follows:
• History Year: 2016-2020
• Base Year: 2020
• Estimated Year: 2021
• Forecast Year 2021 to 2030
Major highlights of report:
• Figures related to sales volume, market remuneration, and segmental shares
• Featuring market dynamics
• Growth prospects and expansion graph
• PROCON study of direct & indirect sales channels
• Profiles of prominent traders, dealer, and distributors in the industry
Geographical landscape: North America, Europe, Asia-Pacific, South America, Middle East and Africa
• Industry forecasts based on region and at country level
• Data about sales volume recorded, industry share held, and profit margins amassed
• Overall remuneration and estimated growth rate for each regional market
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the market.
Market Segments: This part of the report discusses about product, application and other segments of the research department explosive market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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