Hydraulic Equipment Market Analysis & Forecast 2024-2030

Global Hydraulic Equipment Market is expected to reach USD 62450.58 million by 2030 with CAGR of 4% between 2024 and 2030

Overview

Hydraulic equipment is a machine that uses working fluids to control motion and operations. The demand for hydraulic equipment in construction, automobiles, mining, and the aerospace industry has increased significantly in the past few decades. Hydraulic equipment is used for several applications such as mining, material handling, metal processing, plastic processing to name a few. Many companies are adopting hydraulic equipment because they have many benefits over equipment based on mechanical and electrical systems.  

Hydraulic equipment is simple, safer, cost-effective, and offers low maintenance as compared to mechanical and electrical systems. These are safe to use in chemical plants and mines because they do not cause sparks. The rising construction industry, agriculture industry, and manufacturing sector is driving the growth of the global hydraulic equipment market. However high-cost equipment is restricting the growth of the global hydraulic equipment market. Rising technological advancements in design, operation, and safety will provide several growth opportunities for the market in the forecast period.  

Product Types & Competitive analysis

Based on product type, the market is segmented as pump, motor, and cylinder. The pump segment dominated the Global Hydraulic Equipment Market in 2023. The hydraulic pumps are power sources for all the hydraulic equipment. The hydraulic pumps are extensively used in mobile as well as industrial hydraulic equipment. Growing demand for hydraulic equipment in construction, mining agriculture, and industrial sectors, rising investments in the construction industry are expected to drive the growth of the segment in the forecast period.  

The hydraulic cylinder was the fastest-growing segment in 2023. The growth was attributed to the rise in adoption of hydraulic equipment and technological advancements in terms of design and assembly of cylinders, the combination of cylinders and electronics to increase accuracy and functionality which are enabling different motions in equipment which were not possible by traditional cylinder designs types.  

Competitive analysis included in research study helps users to understand key players market positioning and marketing strategies. Manufacturers in the hydraulic equipment industry are offering several innovative products to customers. The industry players are combining hydraulic equipment with modern electronic systems to enhance performance, achieve better accuracy, efficiency, convenient control, and real time monitoring. Consumers are getting hooked on the new-fangled features and are embracing such solutions to reduce overall costs.  

Manufacturers in North American and European markets are facing tough competition from low-cost imports from Asian countries. China has been a major exporter of equipment to these markets. Companies are focusing on strengthening their consumer base by constantly expanding their presence across developing countries. With rising infrastructure activities and the manufacturing sector in developing countries manufacturers are expected to witness lucrative growth opportunities in the forecast period.  

The key manufacturers in the market are adopting potential mergers and acquisitions as a growth strategy. For instance, Manuli Rubber Industries has acquired a major share in RYCO Hydraulics Pty Ltd. As per the conditions and terms of acquisition, Manuli Rubber Industries will merge Manuli Hydraulics and Fluiconnecto divisions with RYCO to construct a hydraulics company with a wide-ranging product portfolio and improved global service network for customers of both companies.  

 

Application & Regional analysis

Based on the application market research study is categorized into automotive, metal, gas & oil, and mining. The gas & oil and mining segment accounted for the largest revenue share in 2023. The segment is expected to sustain its dominance over the forecast period owing to the increased use of hydraulic machinery in mining. Hydraulic machinery is widely used in the mining sector in drilling, digging, excavating, and moving large objects. Hydraulic technology has evolved to a large extent in the last decade and numerous applications are seen in the automotive industry, metal, and construction industry.  

Regional outlook of research study is based on analysis of market in North America, Europe, Asia Pacific, Middle East, South America, and Africa & Rest of the World. The Asia Pacific dominated the Global Hydraulic Equipment Market accounting for the largest revenue share in 2023. The growth in the region was driven by rapidly growing economies such as China and India. China and India are projected to lead the Asia Pacific manufacturing and construction sector in the coming years. In 2021 around 26 infrastructure projects were announced by China with a total investment of USD 142 billion.  

Also the country is expanding Xianyang International Airport and building several rail projects in cities like Chengdu, Chongqing, Zhengzhou, Xian and Kunming. India is projected to witness a significant growth rate. The Indian government is expected to spend about USD 1.4 trillion on infrastructure during 2023-27, which includes spending on highways, renewable energy, housing, transport, and communications technology.  

Asia Pacific region is witnessing promising growth in the agricultural, construction, and mining sectors with booming investments from private and government sectors. Asian countries are advancing their economic policies and opening up to the outside world by continuously modernizing their foreign investment policies and regulations. North America and Europe are mature markets with vigorous adoption of heavy machinery into commercial and residential applications. Developing countries in South America and the Middle East and Africa will show significant growth in the forecast period owing to expanding mining, manufacturing, and construction sectors.  

 

Hydraulic Equipment Market : Product Types

• Pump
• Motor
• Cylinder

Hydraulic Equipment Market : Application Analysis

• Automotive
• Metal
• Gas & Oil
• Mining
• Others

Hydraulic Equipment Market : Competitive Analysis

Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Hydraulic Equipment Market :

• Siemens AG
• Eaton
• Robert Bosch GmbH
• Emerson
• Daikin Industries Ltd.
• Parker-Hannifin Corp.
• Komatsu Ltd.

Geographical analysis of Hydraulic Equipment Market :

• North America
  • U.S.A.
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Hydraulic Equipment Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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