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Breakthroughs in technology have a big impact on the factors that affect the fluid power tools market. Because of progress in hydraulic and pneumatic technology, fluid power systems are now more accurate, powerful, and efficient. Smart technologies, sensors, and robotics make these systems work even better by allowing planning maintenance ahead of time, get better control, and use less energy. People who work in fluid power need to know about the newest ideas if they want to stay competitive and meet the needs of customers who are always looking for better ways to do things.
Building up infrastructure is a big market factor that affects the fluid power tools business. Hydraulic and gas systems are very important in both business and household building because they power a wide range of tools, including earth-moving equipment, lifting mechanisms, and cranes. There is also a greater need for fluid power tools because of building projects like extending roads, utilities, and bridges. The fluid power industry can grow a lot if the government spends money on infrastructure and gives money to other industries.
The car business has a big impact on the need for fluid-powered machines. For jobs like pressing, shaping, and putting cars together, hydraulic and gas devices are very important. As the number of personal and business cars on the road rises, so does the need for fluid power options. Fluid power systems used in cars are changing to keep up with the fast pace of technology change in the industry. For example, electric cars are becoming more popular and production methods are getting better.
More people are buying fluid power tools because they care more about health and the environment. As the energy economy and lowering carbon emissions become more important in many areas, the need for fluid power options that are in line with environmental goals has grown. It's becoming more and more popular to make changes to hydraulic and gas systems that are better for the environment, work better, and use less energy.
Rules and regulations have a big effect on the fluid power tools business. When fluid power systems are planned, built, and used, they have to follow safety rules, environmental limits, and rules that are specific to the business. Regulatory changes that affect things like worker safety and pollution standards may affect the tactics of companies in the same industry. These changes could affect how well fluid power systems work and how far they can be taken.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 25.12 Billion |
| Growth Rate | 6.01% (2022-2030) |
Fluid Power Equipment Market Highlights:
Global Fluid Power Equipment Market Overview
Fluid Power Equipment Market Size was valued at USD 23.45 Billion in 2021. The Fluid Power Equipment industry is projected to grow from USD 25.12 Billion in 2022 to USD 38.45 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.01% during the forecast period (2022 - 2030). Fluid power equipment is used for power transmission in different places. It is divided into two types hydraulic and pneumatic. A hydraulic system uses liquid for power transmission, while a pneumatic system uses gas. Fluid power equipment has electrical and mechanical advantages, accelerating the Market demand. The growth factors are driving the market at the level. The demand from the industrial verticals such as the food and beverage industry and the need for wastewater infrastructure are driving the market. The fluid power equipment has useful safety features for hazardous environments in industries.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Fluid Power Equipment Market Trends
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Rising need for water and wastewater infrastructure to boost the market growth
The need for water and wastewater infrastructure is rising globally, as populations continue to grow and urbanize. This is putting strain on existing infrastructure and creating a need for new investment in water and wastewater treatment facilities. The market is expected to benefit from this trend, as demand for products such as pumps, valves, and actuators increases.
Fluid Power Equipment Market Segment Insights
Fluid Power Equipment Type Insights
The market segmentation, based on Type, includes Hydraulic and Pneumatic. The Hydraulic segment holds the majority share in 2021 of the market. Due to its efficiency and cost-effectiveness.
Fluid Power Equipment Component Insights
Based on Components, the market segmentation includes Pumps, Motors, Valves, Cylinders, Steel tubes and Compression Fitting, Accumulators and Accessories. The Motors segment is estimated to account for the largest share of the market. These motors play an important role in a wide range of industries such as automotive, and industrial. With their ability to provide high torque and power output, they are increasingly being adopted in a variety of applications. Moreover, advancements in technology have further enhanced their performance and efficiency making them more cost-effective for companies looking for reliable solutions.
Fluid Power Equipment Application Insights
Based on Application, the market segmentation includes Construction, Automotive, Oil & Gas, Food Processing, Packaging, Semiconductors, and Others. The Construction segment dominated the market in 2021. By utilizing fluid power technology, construction companies can increase efficiency and accuracy, reduce costs, and improve safety on the job site. This equipment is used in a wide range of applications including material handling, excavation, demolition, and more.
Figure 2 : Fluid Power Equipment Market, by Application, 2021 & 2030 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Fluid Power Equipment Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific held the largest share of the market due to the growing investment in construction activities in emerging nations, such as India and China. China is expected to account for the largest share of the regional market and India is expected to be the fastest-growing country in the region. The primary application area of the fluid power equipment in these sectors is fluid transfer. Such factors are likely to drive the market in the Asia-Pacific.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Fluid Power Equipment Market Share By Region 2021 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Fluid Power Equipment Key Market Players & Competitive Insights
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Fluid Power Equipment industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Fluid Power Equipment industry to benefit customers and expand the market sector. The market has recently given medicine some of the most important advantages. Major market players, including Bosch Rexroth, Eaton Corporation, Parker Hannifin, Kawasaki, Daikin, and others, are attempting to increase market demand by funding R&D initiatives.
A supplier of drive and control technology is Bosch Rexroth. The business focuses on factory automation, machinery engineering and applications, and mobile machines. Its product categories include mobile hydraulics and electronics, industrial hydraulics, gear technology, tightening technology, electric motors and controls, molding and casting technology, and resistance welding.
Parker Hannifin is a manufacturer of motion and control technology and systems. It is divided into two business segments Diversified Industrial and Aerospace Systems. Diversified Industrial provides engineered materials, filtration, fluid connections, instrumentation, and motion systems. Fluid conveyance, fuel, fuel tank inerting, and hydraulic systems and components, as well as fluid metering, delivery, and atomization devices, wheels, brakes, pilot controls, and so on, are all provided by the Aerospace Systems section. Off-road machinery, transportation, oil and gas, industrial production equipment, power generation, healthcare and life sciences, and chemical processing are all markets served by the firm.
Key Companies in the Fluid Power Equipment market include
- Bosch Rexroth
- Eaton Corporation
- Parker Hannifin
- Kawasaki
- Fluid-Power Equipment Inc
- Sparrows Group
- Fluid Systems Inc
- AGILOX
- Kent Fluid Power Ltd
- Moog Inc
- Daikin
Fluid Power Equipment Industry Development
In June 2022, Bosch Rexroth, a Germany-based engineering firm that provides hydraulic products partnered with AGILOX to open up the market for autonomous mobile robots. This partnership aimed to combine strong products and scale the presence.
In February 2022, AGILOX announced a partnership with Parker Hannifin Corporation. This partnership enables customers to receive real-time alerts and access diagnostic messages for Parker components and Cummins engines in a single dashboard. Cummins Inc. is a US-based company that manufactures filtration, engines, and power generation products.
Fluid Power Equipment Market Segmentation
Fluid Power Equipment Type Outlook
- Hydraulic
- Pneumatic
Fluid Power Equipment Component Outlook
- Pumps
- Motors
- Valves
- Cylinder
- Steel Tube and Compression Fitting
- Accumulators and Accessories
Fluid Power Equipment Application Outlook
- Construction
- Automotive
- Oil & Gas
- Food Processing
- Packaging
- Semiconductor
- Others
Fluid Power Equipment Regional Outlook
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North America- US
- Canada
-
Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
-
Rest of the World- Middle East
- Africa
- Latin America
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