The demand for hydraulic equipment is driven by its wide range of applications in various industries, including construction, manufacturing, agriculture, and transportation. The increasing demand for energy-efficient and environmentally friendly equipment is also driving the growth of the hydraulic equipment market.
In the construction industry, hydraulic equipment is used for heavy lifting, digging, and moving heavy objects. The increasing demand for construction projects worldwide is driving the demand for hydraulic equipment.
In the manufacturing industry, hydraulic equipment is used for metalworking, plastic molding, and other industrial applications. The growth of the manufacturing sector in emerging economies is fueling the demand for hydraulic equipment.
Moreover, the increasing adoption of electric and hybrid hydraulic equipment is also driving market growth. These types of equipment offer improved energy efficiency and reduced emissions, making them ideal for environmentally conscious industries.
Request Sample Report @ https://www.marketresearchfuture.com/sample_request/8066
Asia Pacific is emerging as a lucrative market for hydraulic equipment manufacturers due to the growing industrialization and urbanization in the region. The region's growing construction and manufacturing sectors are driving the demand for hydraulic equipment.
The rising demand for high-pressure hydraulic equipment is also driving market growth. High-pressure hydraulic equipment is used in various applications, including oil and gas drilling, mining, and aerospace.
Overall, the hydraulic equipment market is expected to continue growing in the coming years, driven by the increasing demand for energy-efficient and environmentally friendly equipment in various industries.
Industry News
In March 2020, Bosch Rexroth AG introduced two mid-pressure load sensing valve platforms, the RM10-MPP (left) and the RM15-MPP (right). These multi-application load sensing, directional control valves include a flexible assembly that eliminates the requirement for a transition plate between the two unique sizes.
In January 2020, Danfoss SA announced its $3.3 billion acquisition of Eaton Corporation plc's hydraulics business. Danfoss SA has expanded its hydraulic solutions offering and improved support for its core business and customers as a result of this acquisition.
Hydraulic Equipment Market Analysis
Hydraulic Equipment Market is projected to be worth USD 61.23 billion, with a CAGR of 9.11% during the forecast period 2023- 2030.
Market Segmentation
The global hydraulic equipment market has been segmented based on components and application.
- On the basis of components, the global hydraulic equipment market has been segmented into pumps, motors, valves, cylinders, and accessories. Valves sub-segment will lead the hydraulic equipment market during the forecast period.
- On the basis of application, the global hydraulic equipment market has been segmented into industrial and mobile. Within the application segment, the mobile sub-segment is projected to account for the maximum share during the forecast period.
Key Players
The key players in the global hydraulic equipment market are Bosch Rexroth (Germany), Eaton Corporation Plc (Ireland), Parker Hannifin (US), Kawasaki (Japan), HAWE (Germany), Hydac (Germany), Moog, Inc. (US), Bucker Hydraulics (Germany), Daikin (Japan), Concentric (Sweden), Casappa (Italy), Nachi-Fujikoshi (Japan), Dantal Hydraulics (India), Fluitronics GmbH (Germany), and Linde Hydraulics (Germany).
