Emerging Trends to Drive Hydraulic Equipment Market Growth at 3.5% CAGR Through 2029

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Hydraulic Equipment Market Size Growth Forecast: What to Expect by 2025?
The size of the hydraulic equipment market has consistently increased in the past few years. Projections show that it will rise from $45.21 billion in 2024 to $46.86 billion in 2025, recording a compound annual growth rate (CAGR) of 3.6%. This growth during the preceding years can be linked to factors such as urbanization and industrialization, the increasing requirement for sophisticated agricultural machinery, a rising demand for material handling equipment, the expansion of process industries, and the growing incorporation of hydraulic systems in automated manufacturing processes.

How Will the Hydraulic Equipment Market Size Evolve and Grow by 2029?
The market size for hydraulic equipment is projected to undergo consistent expansion in the coming few years, ballooning to $53.79 billion by 2029 at a compounded annual growth rate of 3.5%. The projected growth during this period is expected to stem from various factors including the enlargement of the construction industry, rising demand for environmentally friendly hydraulic solutions, burgeoning requirement for hydraulic equipment in the aerospace and defense sectors, increasing transition to electric vehicles, and escalating demand from the mining industry. Key emerging trends during the forecast period are projected to be the integration of Internet of Things (IoT), creating additional manufacturing facilities, the adoption of mechanized farming gear, product innovation, and increased investments.

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What Drivers Are Propelling the Growth of Hydraulic Equipment Market Forward?
The hydraulic equipment market's growth is anticipated to be driven by the flourishing construction sector. The construction sector comprises all endeavours associated with the strategy, design, construction, and upkeep of structures, infrastructure, and other physical structures. Factors like governmental expenditure on construction ventures, escalating investments in infrastructure, and a stable real estate market contribute to the sector's growth. Hydraulic systems, with their capability to generate enormous force with comparatively minor components, are perfectly suited for the heavy lifting, pushing, and pulling duties involved in construction, like operating cranes, excavators, and bulldozers. For example, a report by the Office for National Statistics, a UK-based official statistics producer, in August 2023 showed that the forecasted monthly construction output lodged a 1.6% increase in volume in June 2023. This rise was credited to both new construction work (2.0%) and repair and maintenance activities (1.1%). The construction output saw a slight increase of 0.3% from Quarter 1 (January to March) 2023 to Quarter 2 (April to June) 2023. As a result, the growth of the hydraulic equipment market is being propelled by the burgeoning construction industry.

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What Are the Key Trends Driving Hydraulic Equipment Market Growth?
Leading businesses in the hydraulic equipment market are creating novel products such as energy-saving hydraulic pumps to offer customers advanced features and grab a top market position. Energy efficient hydraulic pumps are effective machinery that translates mechanical energy to hydraulic energy with scarcely any energy loss. For example, in January 2024, Grundfos, a pump production company based in Denmark, released the SP 6-inch hydraulic pump for pumping groundwater. Superior energy efficiency, brought about by improved hydraulics which result in substantial energy savings, is one of the standout features of the SP 6-inch hydraulic pump. Furthermore, the pump incorporates a high-efficiency permanent magnet motor which guarantees consistent performance while maximizing overall efficiency. Its durable stainless-steel rotor design, featuring a heavy-duty stainless-steel-clad canned rotor, ensures optimal operation and durability. In addition, the pump is adaptable and suitable for various applications owing to its expanded temperature range up to 140°F.

What Are the Key Segments in the Hydraulic Equipment Market?
The hydraulic equipmentmarket 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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Who Are the Key Players Shaping the Hydraulic Equipment Market's Competitive Landscape?
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.

What Geographic Markets Are Powering Growth in the Hydraulic Equipment Market?
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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