Press release
Industrial Hydraulic Equipment Market to Surpass USD 40.6 Billion by 2031, Driven by Technological Advancements and Expanding Industrial Applications
Industrial Hydraulic Equipment Market
The industrial hydraulic equipment market is poised for steady expansion, with a projected CAGR of 5.2% from 2024 to 2031. Valued at US$ 28.5 billion in 2024, it is expected to reach a significant US$ 40.6 billion by 2031. This growth is driven by the rising adoption of hydraulic pumps, cylinders, and valves across applications such as material handling, construction, and industrial manufacturing.
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Hydraulic pumps and cylinders are particularly in demand due to their durability, efficiency, and high power output-essential qualities in heavy-duty industrial environments. Meanwhile, hydraulic valves enhance system precision and efficiency, boosting productivity across sectors dependent on robust machinery.
The hydraulic pump segment leads the product type category, growing at a CAGR of 4.8%, thanks to its versatility across industries like construction and agriculture. Geographically, the United States remains the leading region, holding a dominant share due to its strong manufacturing base, significant infrastructure projects, and high adoption of automation technologies.
✦ Key Highlights from the Report
✦ Global market projected to reach US$ 40.6 billion by 2031 with a CAGR of 5.2%.
✦ Hydraulic pump segment expected to grow at a CAGR of 4.8% through 2031.
✦ Material handling application segment forecasted to achieve a CAGR of 5.4%.
✦ U.S. market growth fueled by advanced manufacturing and automation adoption.
✦ India's hydraulic equipment demand boosted by infrastructure expansion and industrialization.
✦ Rising trend toward smart hydraulics and IoT-enabled systems for efficiency gains.
Market Segmentation
The industrial hydraulic equipment market is segmented based on product type, application, and end-use industry.
By Product Type, the market includes hydraulic pumps, cylinders, valves, motors, and others. Hydraulic pumps dominate due to their versatility and ability to efficiently convert mechanical energy into hydraulic power for various machinery.
By Application, the market covers material handling, construction, manufacturing, agriculture, and others. Material handling stands out, with a CAGR of 5.4%, driven by e-commerce growth and automation in warehouses and logistics.
By End-Use Industry, hydraulic equipment finds applications in automotive, aerospace, manufacturing, agriculture, oil & gas, and construction, with manufacturing and construction being the largest consumers due to their dependency on heavy-duty machinery.
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Regional Insights
The United States leads the market, registering a 4.7% CAGR through 2031, driven by strong manufacturing capabilities, advanced industrial infrastructure, and the adoption of automation technologies. The country's industrial base supports high demand for hydraulic systems in sectors like construction, automotive, and material handling.
In India, the market is set to expand at a 5.7% CAGR, fueled by large-scale infrastructure development projects, industrialization, and government initiatives supporting urban growth. The demand is particularly high in construction machinery, agriculture, and material handling equipment.
Germany stands out in Europe for its push toward sustainable hydraulic solutions, integrating eco-friendly fluids and energy-efficient designs in line with EU regulations. Asia Pacific overall remains the fastest-growing region, thanks to rapid industrial expansion in China, India, and Southeast Asia.
Market Drivers
One of the strongest growth drivers for the industrial hydraulic equipment market is the rapid adoption of automation in manufacturing, construction, and logistics. Hydraulic systems provide the power, precision, and durability needed for automated machinery, enabling consistent high-performance operations.
Another driver is the global rise in construction activities, particularly in emerging economies, where urbanization and infrastructure development create consistent demand for hydraulic-powered machinery such as excavators, cranes, and loaders.
Market Restraints
A key challenge is the complexity of integrating modern hydraulic systems with IoT and digital automation frameworks. While technology adoption is a growth driver, the complexity of upgrading legacy systems can delay adoption.
Additionally, the shortage of skilled labor in hydraulic equipment design, maintenance, and operation poses a risk, as highly trained technicians are essential for ensuring system efficiency and longevity.
Market Opportunities
Opportunities abound in Germany's sustainable hydraulic solutions market, where environmental regulations encourage the development of low-emission, energy-efficient hydraulic systems.
The U.S. market presents growth potential through IoT-enabled hydraulic systems that offer predictive maintenance, remote monitoring, and operational optimization. Manufacturers investing in these smart technologies are likely to capture significant market share in the coming years.
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# Frequently Asked Questions (FAQs)
How big is the industrial hydraulic equipment market in 2024?
Who are the key players in the global industrial hydraulic equipment market?
What is the projected growth rate of the industrial hydraulic equipment market through 2031?
What is the market forecast value for 2031?
Which region is estimated to dominate the industry during the forecast period?
Company Insights
• Bosch Rexroth AG
• Parker Hannifin Corporation
• Eaton Corporation
• Caterpillar Inc.
• Danfoss A/S
• Hydac International GmbH
• Kawasaki Heavy Industries Ltd.
• Liebherr Group
• KYB Corporation
• SMC Corporation
• Bucher Hydraulics
• HAWE Hydraulik SE
Recent Developments
April 2023: Parker Hannifin launched a new line of electric actuators designed to improve energy efficiency and operational performance.
June 2023: Bosch Rexroth expanded its U.S. production facilities to meet rising demand for hydraulic components in North America.
Conclusion
The industrial hydraulic equipment market is on a trajectory of sustained growth, supported by global automation trends, rapid urbanization, and infrastructure investments. The push toward smart and sustainable hydraulics will define the competitive landscape, with IoT integration and eco-friendly solutions becoming central to product development. Regions like the U.S., India, and Germany are set to drive significant demand, while technological advancements will ensure the industry continues to evolve to meet the needs of modern industrial operations.
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