Press release
Hydraulic Equipment Market Development, Market Trends, Key Driven Factors, Segmentation And Forecast To 2020-2027
The global hydraulic equipment market size accounted for $40,518.6 million in 2019, and is expected to reach $51,653.1 million by 2027, registering a CAGR of 3.8% from 2020 to 2027. Surge in adoption of mechanized equipment across the agricultural sector drives the growth of the global hydraulic equipment market. However, demand for electro-mechanical systems hinders the market growth. Furthermore, increase in need for energy efficient hydraulic equipment is expected to create new growth opportunities for market players during the forecast period.Hydraulic equipment are operated by using liquid fluid as working medium. Hydraulic liquid is pumped into the machine, and is pressurized considering the resistance by cylinders and motors. The valves control the flow of liquids, and the liquid is further distributed through pipes, hoses, or tubes.
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Leading Players:
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.
Covid-19 scenario:
• Several major hydraulic equipment manufacturers have halted their production activities during Covid-19 pandemic due to disrupted supply chain amid lockdown.
• The demand for hydraulic equipment is likely to increase post-lockdown across the agriculture based economies such as India as the supply and distribution begins. This is due surge in seasonal agricultural activities and increase in crop production to meet the growing demand for food across the developing countries.
• The demand during the Covid-19 pandemic has been declined due to halt in building & construction and mining activities across the globe.
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The report offers a detailed segmentation of the global hydraulic equipment market based on application, product, end-user, and region.
Key Market Segments
By Application
• Mobile
• Industries
By End User
• Mining & Construction
• Agriculture & Mining
• Packaging
• Material Handling
• Other (petrochemical, machine tools, automotive, paper, plastic, rubber and printing)
By Product
• Pumps
• Motors
• Valves
• Cylinders
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