Hydraulic Equipment: A Leading Driver Behind Construction Industry Driving Growth In Hydraulic Equipment Market Market Expansion in 2025

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What Will the Hydraulic Equipment Industry Market Size Be by 2025?
The dimension of the hydraulic equipment market has witnessed robust expansion in the latest years. It is predicted to escalate from a market value of $45.21 billion in 2024 to $47.57 billion in 2025 with a compound annual growth rate (CAGR) of 5.2%. Factors such as escalating urbanization and industrialization, evolving requirement for advanced agricultural technology, growing demand for material management equipment, the expansion of the industrial process sector, and increased implementation of hydraulic systems in automated manufacturing procedures have contributed to the growth during the historic period.

What's the Long-Term Growth Forecast for the Hydraulic Equipment Market Size Through 2029?
The hydraulic equipment market is poised to exhibit stable expansion in the forthcoming years, aiming to reach $55.58 billion by 2029 at a compound annual growth rate (CAGR) of 4.0%. The anticipated growth for this period can be credited to the broadening of the construction sector, escalating need for environmentally friendly hydraulic tools, augmenting demand from the aerospace and defense sectors, a surge in adoption of electric vehicles, as well as an upswing in demand for hydraulic gear within the mining industry. The prediction period is likely to see significant trends like the incorporation of IoT, the proliferation of new manufacturing amenities, the use of mechanized agricultural machinery, groundbreaking product developments, and an increase in financial investments.

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What Are the Key Growth Drivers Fueling the Hydraulic Equipment Market Expansion?
The hydraulic equipment market is anticipated to grow due to the booming construction industry. This sector involves everything from planning and designing to constructing and maintaining buildings, infrastructures, and other physical structures. Factors such as government expenditure on building projects, increased investment in infrastructure, and stability in the real estate market contribute to the industry's expansion. Hydraulic systems, capable of creating significant force with smaller components, are perfectly suited to the heavy lifting, pushing, and pulling tasks involved in construction, like operating cranes, bulldozers, and excavators. For example, a report by the Office for National Statistics, a UK-based official statistics producer, stated in August 2023 that the estimated monthly construction output increased by 1.6% in volume in June 2023. This was credited to both new construction work (2.0%) and repair and maintenance tasks (1.1%). Between Quarter 1 (January to March) 2023 and Quarter 2 (April to June) 2023, construction output rose by 0.3%. This growth in the construction industry is, therefore, fuelling the expansion of the hydraulic equipment market.

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What Are the Key Trends Driving Hydraulic Equipment Market Growth?
Key players in the hydraulic equipment industry are focusing on inventing novel products like energy-efficient hydraulic pumps to cater to their customers' needs with enhanced features and get ahead in the competition. Energy-efficient hydraulic pumps operate by transforming mechanical energy to hydraulic energy with minimum energy wastage. For example, in January 2024, Grundfos, a pump-making company based in Denmark, released the SP 6-inch hydraulic pump intended for groundwater pumping. The SP 6-inch hydraulic pump distinguishes itself with factors like exceptional energy efficiency accomplished via advanced hydraulics, which leads to remarkable energy savings. It utilizes a highly efficient permanent magnet motor that guarantees dependable performance while optimizing overall efficiency. Its sturdy stainless-steel rotor structure includes a long-lasting stainless-steel-clad canned rotor, ensuring optimized functioning and an extended lifespan. Furthermore, the pump comes with an expanded temperature range up to 140°F, rendering it versatile and adaptable for numerous applications.

How Is the Hydraulic Equipment Market Segmented?
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

Subsegments:
1) By Motors: Hydraulic Motors, Gear Motors, Piston Motors
2) By Pumps: Gear Pumps, Vane Pumps, Piston Pumps, Screw Pumps
3) By Cylinders: Double-Acting Cylinders, Single-Acting Cylinders, Telescopic Cylinders
4) By Valves: Directional Control Valves, Pressure Control Valves, Flow Control Valves, Check Valves
5) By Filters: Hydraulic Filters, Inline Filters, Return Line Filters
6) By Accumulators: Bladder Accumulators, Piston Accumulators, Spring Accumulators
7) By Transmissions: Hydraulic Transmissions, Hydrostatic Transmissions
8) By Other Components: Hoses And Fittings, Seals And O-Rings, Coolers And Heat Exchangers

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Which Companies Are Leading the Charge in Hydraulic Equipment Market Innovation?
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.

Which Regions Are Leading the Global Hydraulic Equipment Market in Revenue?
North America was the largest region in the hydraulic equipment market in 2024. 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.

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