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Fluid Power Equipment Global Market Analysis, Trends, Growth, Research And Forecast 2033
Fluid Power Equipment Global Market
The Business Research Company presents an extensive market research report on the Fluid Power Equipment Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The fluid power equipment market size has grown strongly in recent years. It will grow from $30.39 billion in 2023 to $32.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to expansion of construction and infrastructure projects, automotive industry applications, mining and material handling equipment demand, energy sector utilization, aerospace and defense applications.
The fluid power equipment market size is expected to see strong growth in the next few years. It will grow to $44.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rise in renewable energy projects, focus on energy efficiency, expansion of e-commerce and logistics, increased adoption of electric and hybrid vehicles, infrastructure development in emerging markets. Major trends in the forecast period include integration of industry 4.0 technologies, advancements in hydraulic technology, focus on energy-efficient solutions, advancements in hydraulic fluid, emphasis on condition monitoring and predictive maintenance.
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Key Market Players:
Major companies operating in the fluid power equipment market report are Hengli America Inc., Eaton Corporation plc, Parker Hannifin Corporation, Kawasaki Heavy Industries Ltd., Atos S.p.A., Dover Corporation, Bosch Rexroth AG, Alfa Laval, Festo SE & Co. KG, Flowserve Corporation, Crane Holdings, Hydac GmbH, Graco Inc., Colfax Ltd., Helios Technologies Inc., Christian Bürkert GmbH and Co, Circor International, Moog Inc., Sparrows Offshore Group Limited, Bucher Hydraulics GmbH, Oilgear Company, Casappa S.p.A, Duplomatic Motion Solutions S.p.A., Hawe Hydraulik SE, Fluid Systems Inc., Daikin Industries Ltd., Daman Products Co. Inc., Fluid-Power Equipment Inc., Applied Fluid Power, Hydraulics International Inc., BVA Hydraulics
Market Drivers:
An increase in demand from the food and beverage industry is significantly contributing to the growth of the fluid power equipment market going forward. The food and beverage industry includes companies that are involved in the processing, packaging, and distribution of food materials and alcoholic and non-alcoholic beverages. Fluid power equipment is used in the food and beverage industry for processing, moving ingredients, and final packaging. For instance, in November 2023, according to the USDA Economic Research Service, a US-based federal agency, in 2022, food expenditures constituted 12.8 percent of spending for U.S. households, marking a rise from the 12.4 percent recorded in 2021. Therefore, an increase in demand from the food and beverage industries is driving the growth of the fluid power equipment market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/fluid-power-equipment-global-market-report
The fluid power equipment market covered in this report is segmented -
1) By Type: Hydraulic, Pneumatic
2) By Product Types: Pumps, Motors, Valves, Cylinders, Accumulators And Filters, Other Product Types
3) By Application: Construction, Automotive, Oil And Gas, Food Processing, Packaging, Semiconductor, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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