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Global Hydraulics Market 2024 : SWOT Analysis Of Key Driving Factors For Growing CAGR Value | Caterpillar Inc, Komatsu Ltd, Eaton Corporation, Parker Hannifin Corporation, Kawasaki Heavy Industries Ltd., Webtec Products Limited
Hydraulics Global Market Report 2024
As per the report, the hydraulic market size has grown steadily in recent years. It will grow from $40.74 billion in 2023 to $42.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The hydraulic market size is expected to see steady growth in the next few years. It will grow to $51.38 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.
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Impact Of Growing Infrastructure Development On The Hydraulics Market
The growing infrastructure development projects are expected to propel the growth of the hydraulics market going forward. Growing infrastructure development projects are attributed to rapid urbanization, economic growth, government initiatives, technological advancements, modernization, environmental concerns, globalization, population growth, private sector participation, improved financing options, and resilience planning against natural disasters. Hydraulic technology is indispensable in infrastructure development because it enables the construction, maintenance, and management of various structural projects. For instance, in May 2023, according to the Office for National Statistics, a UK-based government administration, in 2021, total general government investment in infrastructure increased by 15.2% compared to 2020, reaching £23.8 ($30.27) billion in current prices. Therefore, the growing infrastructure development projects are driving the growth of the hydraulics market.
Innovative Hydraulic Components Drive Efficiency And Performance In The Hydraulics Market
Major companies operating in the hydraulics market are developing innovative hydraulic components to boost efficiency, reliability, and performance. Hydraulic components refer to pumps, valves, and cylinders essential for transmitting power through fluid pressure. For instance, in November 2023, Danfoss, a Denmark-based manufacturing company, launched the Danfoss H1F fixed displacement bent axis hydraulic motor. The Danfoss H1F fixed displacement bent axis hydraulic motor boasts up to 95% overall efficiency and a compact design, suitable for both open- and closed-circuit applications. It is designed for agriculture, construction, and forestry machinery, delivering high performance and reliability.
The hydraulics market covered in this report is segmented -
1) By Product Type: Hydraulic Pumps, Hydraulic Motors, Hydraulic Cylinders, Hydraulic Valves, Hydraulic Filters, Other Product Types
2) By Application: Construction, Agriculture, Automotive, Aerospace, Oil And Gas, Mining, Marine, Other Applications
3) By End-User: Original Equipment Manufacturers (OEMS), Aftermarket
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Major companies operating in the hydraulics market are Caterpillar Inc, Komatsu Ltd, Eaton Corporation, Parker Hannifin Corporation, Kawasaki Heavy Industries Ltd., Webtec Products Limited, Moog Inc., KYB Corporation, HYDAC International GmbH, Nachi-Fujikoshi Corporation, Bucher Hydraulics, Hengli Hydraulic, HAWE Hydraulik SE, HydraForce Inc., Concentric Hydraulics, Prince Manufacturing Corporation, Linde Hydraulics GmbH & Co. KG, Oilgear Company, Yuken Kogyo Co. Ltd., Cross Manufacturing Company Inc., Walvoil S.p.A, Permco Inc., Salami SpA
Contents of the report:
1. Executive Summary
2. Hydraulics Market Report Structure
3. Hydraulics Market Trends And Strategies
4. Hydraulics Market - Macro Economic Scenario
5. Hydraulics Market Size And Growth
…..
27. Hydraulics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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