Press release
Hydraulic Equipment Market Key Drivers, Business Insights, Trends And Forecast To 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.Download Sample with Updated Industry Insights [ 335 Pages Report] @
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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. These equipment are simple to operate, safe, and reliable irrespective of variable speed. Rise in adoption of mechanized agricultural activities and increase in industrialization are the major driving factors of the global hydraulic equipment market.
The growth of the global hydraulic equipment market is driven by atomization of activities in agriculture, construction, mining, packaging, and other manufacturing industries, which fuel the demand for hydraulic equipment. Machines such as cranes, loaders, bulldozer, tractors, and harvester use motors, pumps, cylinders, and valves for their operations.
However, electro-mechanical equipment are being preferred by some customers, as they are maintenance-free due to fluid and oil free operation. In addition, COVID-19 pandemic has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact for market growth all over the year. The industrial equipment and machinery industries are struggling with immediate impact owing to the disruption in both manufacturing and supply chain operations. On the contrary, manufacturers are offering new and advanced hydraulic equipment to customers with more stability and safety.
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Top Players:
The key players analyzed in the global hydraulic equipment market are 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.
Key Findings Of The Study
• By application, the industrial segment was the highest revenue contributor in 2019.
• On the basis of end user, the mining & construction segment generated the highest revenue in 2019.
• Depending on product, the cylinder segment was led the market in 2019.
• Region wise, Asia-Pacific garnered the largest market share in 2019, followed by North America and Europe.
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➡️𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬
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