Hydraulic Tools Market Growth, Size, Trends, Share, Opportunities and Forecast 2030

The hydraulic tools market size was valued at $1.6 billion in 2020, and is estimated to reach $2.7 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030. In 2020, North America dominated the hydraulic tools market, in terms of revenue, accounting for around 38.5% share of the global market, followed by Europe. The economy of Europe has grown over the past couple of years, which, in turn, boosts the growth of the construction industry. This, in turn, is expected to fuel the hydraulic tools market forecast.

Hydraulic fluids are exclusive and contextual as per their requirement. As they are the energy bearers and distributors in the hydraulic tools, they possess characteristics like non-corrosive, viscous, thermally stable etc. It can be oil based or water based. There are a few types of common hydraulic tools for example cutters as in water based cutters used in stone cutting, brakers, splitters, drills and saws, cylinders, wrenches, crimpers, pumps, presses, valves etc.

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It can also be witnessed in heavy equipment like bulldozers, forklifts, loaders etc. as the working function of the arms is based on the hydraulics principle. Basically, there is a reservoir in which the fluid is stored and then there is a pump through which the fluid is brought into movement. So, hydraulic tools vary from small to heavy equipment used in major functions of our daily requirements.
In terms of end user, the industrial manufacturing segment secured the highest share in the hydraulic tools market in 2020, and is expected to grow at a CAGR of 6.5% during the forecast period, owing to increase in the manufacturing sector around the globe.

These factors are expected to provide lucrative growth opportunities for hydraulic tools market players in developing economies. The hydraulic tools market is projected to witness significant growth in the coming years, owing to increase in adoption of material handling equipment in countries such as China, Brazil, India, and other South Asian countries. Nations such as the U.S., Germany, and Japan, have started using hydraulic tools, owing to surge in industrialization.

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Regionally, the market analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America region generated the highest revenue
in 2020.

Top Players Are:

Prominent players, such as Actuant Corporation, Atlas Copco AB, SPX Flow, Kudos Mechanical Co., Ltd., IDEX Corporation, Hi-Force, and Cembre S.P.A., Emerson Electric Co., Robert Bosch GmbH, and Stanley Black & Decker, Inc., have adopted new product launch & acquisition as their key strategy to expand their market foothold.

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