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Industrial Hydraulic Equipment Market Expected to Reach USD 40.6 Billion by 2031 | Persistence Market Research
Industrial Hydraulic Equipment Market
The global industrial hydraulic equipment market is on a trajectory of robust growth, projected to expand from US$ 28.5 billion in 2024 to US$ 40.6 billion by 2031, reflecting a healthy CAGR of 5.2% during the forecast period. This growth is fueled by rising adoption of hydraulic systems in sectors such as construction, manufacturing, and material handling, where high-power and precision-driven components like hydraulic pumps, cylinders, and valves are crucial.
According to research by Persistence Market Research, the hydraulic pump segment is expected to maintain its dominance due to increasing demand in construction and agricultural applications. North America, led by the United States, remains the largest regional market, thanks to its mature industrial infrastructure and active investments in automation and machinery modernization. The Asia Pacific region, with countries like India showing a CAGR of 5.7%, is quickly emerging as a key growth driver due to rapid urbanization and industrialization.
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Key Highlights from the Report
• Government-backed infrastructure projects worldwide are boosting hydraulic equipment demand.
• Automation trends across industries are accelerating the need for custom hydraulic systems.
• Technological innovations such as smart hydraulics and IoT integration are reshaping the market.
• Rapid industrial growth in Asia Pacific and Africa offers substantial market expansion opportunities.
• Hydraulic pumps, especially for construction and agriculture, are projected to grow at a CAGR of 4.8%.
• The material handling application segment will grow at a CAGR of 5.4% through 2031, driven by warehouse automation.
Market Segmentation
The industrial hydraulic equipment market is segmented based on product type, which includes hydraulic pumps, cylinders, valves, motors, and filters. Among these, hydraulic pumps lead the market due to their wide usage in construction and agricultural equipment. Their efficiency and reliability in demanding environments make them indispensable. Hydraulic cylinders also contribute significantly, particularly in sectors requiring high force application and linear motion, such as heavy machinery and industrial automation.
By end-use industry, the market is divided into construction, manufacturing, agriculture, material handling, and mining. The material handling segment is experiencing rapid growth, largely attributed to the rise in e-commerce and the consequent demand for automated warehousing systems. Construction remains a critical segment due to ongoing infrastructure development in both developed and developing economies.
Regional Insights
In North America, the U.S. dominates the market with a CAGR of 4.7% through 2031, owing to its robust industrial ecosystem and focus on machinery modernization. Strategic expansions by leading players such as Parker Hannifin Corporation further reinforce the U.S. market's dominance.
Meanwhile, Asia Pacific is emerging as the fastest-growing region. Countries like India and China are investing heavily in infrastructure, boosting demand for industrial hydraulic systems. Government initiatives and foreign investments in manufacturing hubs further augment regional market potential.
Market Drivers
One of the primary drivers of the industrial hydraulic equipment market is the escalating investment in infrastructure and urban development projects, especially in developing countries. From highways and smart cities to energy plants and large-scale housing projects, construction equipment embedded with hydraulic systems plays a pivotal role.
In addition, the rising adoption of automation technologies across industries has driven demand for intelligent and efficient hydraulic solutions. These systems enhance productivity, reduce manual errors, and enable real-time diagnostics, making them indispensable in Industry 4.0 environments.
Market Restraints
Despite positive trends, the market faces some restraints. Chief among them is the high initial cost of hydraulic systems and maintenance, which can be a deterrent for small and medium-sized enterprises (SMEs). Additionally, hydraulic systems are prone to oil leakage and environmental concerns, which can impact their usage in sensitive industries or regions with strict environmental regulations.
Market Opportunities
The growing shift towards smart hydraulic systems integrated with IoT and AI presents significant opportunities for manufacturers. These systems offer predictive maintenance, energy efficiency, and improved user control, which are becoming essential in smart manufacturing and automated facilities. Additionally, expanding applications in renewable energy and defense sectors open new avenues for market players.
Frequently Asked Questions (FAQs)
1. How big is the industrial hydraulic equipment market in 2024?
2. Who are the key players in the global industrial hydraulic equipment market?
3. What is the projected growth rate of the industrial hydraulic equipment market through 2031?
4. What is the market forecast for industrial hydraulic equipment for 2032?
5. Which region is estimated to dominate the industrial hydraulic equipment industry through the forecast period?
Company Insights
1. Parker Hannifin Corporation
2. Bosch Rexroth AG
3. Eaton Corporation
4. Hydac International GmbH
5. Kawasaki Heavy Industries Ltd.
6. Danfoss Group
7. Yuken Kogyo Co., Ltd.
8. Daikin Industries, Ltd.
9. Bucher Hydraulics GmbH
10. HAWE Hydraulik SE
Recent Developments
• Parker Hannifin Corporation announced the expansion of its manufacturing facilities to meet rising demand for hydraulic components driven by automation and Industry 4.0 trends.
• Bosch Rexroth launched a new line of energy-efficient smart hydraulic valves equipped with IoT connectivity, aimed at enhancing precision in manufacturing applications.
About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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