Hydraulic Equipment Global Market Report 2024 - By Share, Trends, Size, Report, Outlook By 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Hydraulic Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $53.54 billion In 2028 At A CAGR Of 4.3% :
The hydraulic equipment market size has grown strongly in recent years. It will grow from $42.92 billion in 2023 to $45.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to urbanization and industrialization, growing need for advanced agricultural machinery, increasing demand for material handling equipment, expansion of process industries, increasing integration of hydraulic systems into automated manufacturing processes.

The hydraulic equipment market size is expected to see steady growth in the next few years. It will grow to $53.54 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to expansion of construction industry, increasing demand for eco-friendly hydraulic solutions, growing demand for hydraulic equipment in the aerospace and defense industries, increasing adoption of electric vehicles, increasing demand for hydraulic equipment in the mining industry. Major trends in the forecast period include IoT integration, expansion of new manufacturing facilities, adoption of mechanized agricultural equipment, product innovation, higher investments.

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Hydraulic Equipment Market Major Segments
The hydraulic equipment market covered in this report is segmented -
1) By Component: Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions, Other Components
2) By Applications: Mobile, Industries
3) By End User: Mining And Construction, Agriculture And Mining, Packaging, Material Handling, Other Applications

Key Driver - Construction Industry Driving Growth In Hydraulic Equipment Market
The expanding construction industry is expected to propel the growth of the hydraulic equipment market going forward. The construction industry encompasses all activities related to the planning, design, construction, and maintenance of buildings, infrastructure, and other physical structures. Growth in the construction industry can be attributed to government spending on building projects, rising infrastructure investments, and stabilization in the real estate market. Hydraulic systems can produce immense force with relatively small components, making them ideal for heavy lifting, pushing, and pulling tasks required in construction, such as operating cranes, excavators, and bulldozers. For instance, in August 2023, according to a report published by the Office for National Statistics, a UK-based producer of official statistics, the estimated monthly construction output saw a 1.6% increase in volume in June 2023, attributed to rises in both new construction work (2.0%) and repair and maintenance activities (1.1%). The output of construction increased by 0.3% from Quarter 1 (January to March) 2023 to Quarter 2 (April to June) 2023. Therefore, the expanding construction industry is driving the growth of the hydraulic equipment market.

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Prominent Trend - Increasing Focus On Efficiency With SP 6-Inch Energy-Efficient Hydraulic Pump
Major companies operating in the hydraulic equipment market are developing innovative products, such as energy-efficient hydraulic pumps, to better serve customers with advanced features and gain a competitive edge in the market. An energy-efficient hydraulic pump is a device designed to transfer mechanical energy into hydraulic energy while minimizing energy losses. For instance, in January 2024, Grundfos, a Denmark-based pump manufacturer, launched the SP 6-inch hydraulic pump for groundwater pumping. The SP 6-inch hydraulic pump stands out with its key features, including superior energy efficiency achieved through upgraded hydraulics, resulting in significant energy savings. It incorporates a high-efficiency permanent magnet motor, ensuring reliable performance while maximizing overall efficiency. Its robust stainless-steel rotor design, featuring a durable stainless-steel-clad canned rotor, ensures optimized operations and longevity. Additionally, the pump offers an expanded temperature range of up to 140°F, making it versatile and suitable for a wide range of applications.

Hydraulic Equipment Market Players
Major companies operating in the hydraulic equipment market are Robert Bosch GmbH, Siemens AG, Komatsu Ltd., Motion Industries Inc., Parker Hannifin Corporation, Emerson Electric Co., Kawasaki Heavy Industries Ltd. , Danfoss AS, SMC Corporation , Festo SE , Moog Inc., Concentric AB, HAWE Hydraulik SE, Linde Hydraulics Corp, Wipro Infrastructure Engineering, Casappa Corp, Norgren Limited, Hydac International GmbH, Dantal Hydraulics Pvt. Ltd., Daikin Industries Ltd., Bucher Hydraulics Inc., Hannon Hydraulics Inc., Fluitronics GmbH, American Design & Manufacturing Inc., Nachi-Fujikoshi Corp.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the hydraulic equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hydraulic Equipment Market Report Structure
3. Hydraulic Equipment Market Trends And Strategies
4. Hydraulic Equipment Market - Macro Economic Scenario
5. Hydraulic Equipment Market Size And Growth
…..
27. Hydraulic Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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