Hydraulic Equipment Market Research Report - Global Forecast till 2030

Hydraulic Equipment Market Research Report Information by Component (Pumps, Motors, Valves, Cylinder and Accessories), Application (Industrial and Mobile) and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America) - Forecast till 2030

ID: MRFR/E&P/6594-HCR | 188 Pages | Published By Priya Nagrale on April 2023         

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Global Hydraulic Equipment Market Research (MRFR Insights)

The hydraulic equipment market is projected to register a CAGR of 9.11% from 2022 to 2030. The growth of the construction industry would significantly contribute to the development of the hydraulics sector. The world is investing more on infrastructure development, especially in advanced economies like the United States. Governments are making large investments in the development of sports infrastructure and facilities. With the growth of the  construction market, there will be a greater demand for hydraulic construction machinery such excavators, hydraulic cranes, and loaders which will expedite  hydraulic equipment market.

COVID-19 Impact Analysis

The manufacturing of hydraulic power equipment had substantial supply chain interruptions as a result of the COVID-19 epidemic. Due to a widespread lockdown, producers were forced to close their facilities, which resulted in a gap in the supply and demand cycle. The National Fluid Power Association has also described how the epidemic has affected businesses, highlighting how some have been particularly hard hit while others have been able to show resilience. Along with the economy's downturn and lockdown issues, the market under study has witnessed the emergence of customization as a major trend in hydraulic equipment used to handle huge loads of material during the COVID-19 epidemic.

Hydraulic Equipment Market Dynamics

The market's expansion is primarily being driven by rising demand for material handling equipment, expanding building activity, rising need for sophisticated agricultural equipment, and increased adoption of hydraulic equipment by a variety of sectors. The use of fluids under pressure to generate, control, and transmit power has led to an increase in the demand for material handling equipment. A fluid motor uses fluid under pressure to produce torque, which results in rotary motion, whereas a fluid cylinder uses fluid under pressure to produce force, which results in linear motion.

Increased worries about oil leaks and high production and maintenance costs are the two key issues limiting market expansion. The costs incurred for maintaining and repairing the machinery and components used throughout your operation are included in the maintenance costs. Oil leakage in hydraulic cylinders is caused by a number of factors, including improper fittings and connections and environmental variables such as vibrations, shocks, and temperature fluctuations.

 Market Drivers

  •  Adoption of Agricultural Mechanized Equipment

Numerous businesses, including Komatsu, Bosch, John Deere, New Holland, and AGCO, are providing cutting-edge equipment with hydraulic motors, valves, and pumps, including tractors, dryers, sprayers, rotary cutters, mini excavators, wheel loaders, and planters & seeders, in response to the increase in the adoption of equipment in agriculture. For instance, in April 2018, Mahindra & Mahindra's Farm Equipment Sector unveiled new Novo 65 HP and 75 HP tractors. These tractors are outfitted with cutting-edge synchromesh transmissions in addition to a precise hydraulics system. As a result, the market for hydraulic equipment is expanding as more farming practices adopt automation and gear.

Market Restraints

  • Electro-mechanical systems replace hydraulic apparatus

Hydraulic machinery is quickly being replaced by electromechanical technologies. This is explained by the fact that electro-mechanically operated machinery has many benefits over hydraulic machinery. When auxiliary hydraulic equipment is required, for example, an electro-mechanical system is less expensive than a hydraulic system. Due to the decreased likelihood of leakage, these systems also require less upkeep and repair. Electro-mechanical systems also only utilize power when the load is being moved. Hydraulic systems, in contrast, must maintain operational fluid pressure levels to retain the position while holding the load, which might result in a delay in reacting to the operator's directions. This restrains the growth of the market for hydraulic equipment.

Market Opportunities

  • Increased Demand for Energy-Efficient Hydraulic Equipment

The main issue is that hydraulic machinery consumes a lot of energy, which drives up the entire cost of buying and running industrial facilities and equipment. High pressure in hydraulic equipment requires a significant amount of energy to operate, which raises energy expenditures. Hydraulic equipment that is energy-efficient is used to reduce additional costs. Hydraulic technology has also become more effective thanks to a number of recent developments. In plastics processing equipment, variable speed pump drives, for instance, reduce pressure holding losses during pauses and partial load operation. Similar to this, loss reduction is achieved using variable pump and valve systems that permit electronic flow matching.

Segment Overview

By Component insights

The  hydraulic equipment market segmentation, based on component, is divided into pumps, motors, valves, cylinder, and accessories. The  hydraulic equipment market growth was prominently high under the cylinder category in 2021. Modern cylinders increase the stability of hydraulic machinery for handling enormous loads. For instance, in September 2019, Komatsu unveiled the PC2000-11 hydraulic excavator, which features better hydraulic cylinders and larger carrier rollers. It makes it possible for the machine to resist the roughest applications. Such product launches that make use of hydraulic cylinders boost the growth of the  market.

By Application Insights

The  hydraulic equipment market segmentation, based on application is industrial and mobile.  In 2021, non- industrial segment accounted for the largest market share of the  market. Packaging, food and beverage, rubber, paper, printing, plastic, and press are just a few of the industries that use industrial hydraulic equipment. For instance, hydraulic press machines are used in sheet metal press workshops to shape the necessary shapes out of the sheets utilizing dyes. Additionally, hydraulic press machines are used to shape vehicle bodies made of sheet metal. 

Global Hydraulic Equipment Market Share, by Region, 2021 (%)
Hydraulic Equipment Market Share, by Region, 2021

Hydraulic Equipment Market Overview, by Region

By region, the  hydraulic equipment market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific accounted for the most extensive market share. North America will exhibit the highest CAGR during the forecast period.

Asia Pacific

Asia-Pacific contributed the most to overall sales and is predicted to expand at a CAGR of 4.5%. Due to a large population base in nations like China and India, the hydraulic equipment industry is growing at the fastest rate in the Asia-Pacific region. Since a few years ago, this region has consumed significantly more FMCG goods, which propels market expansion. Additionally, the need for hydraulic equipment is boosted by the industries of manufacturing, building, mining, agriculture, and transportation that are developing quickly. Due to this rising need, firms have established manufacturing facilities to satisfy the expanding demand in the area. To strengthen their position in the industry, key firms have employed a variety of developmental tactics.

North America

The Tier 1 firms who provide reliable hydraulic equipment, established alliances, and wide-ranging distribution channels are the market leaders in North America for hydraulic equipment. Small, niche competitors might, nevertheless, increase their market share with services that are tailored for particular business sectors. The demand for hydraulic equipment is increasing as a result of the region's booming oil and gas sector. The output of dry natural gas would rise from 95.1 billion cubic feet per day in October 2021 to 97.5 billion cubic feet per day in December 2022, according to the US Energy Information Administration.

Hydraulic Equipment Market Competitive Landscape

Due to the existence of both foreign and domestic producers, the worldwide market is extremely competitive.  hydraulic cylinder producers employ a range of strategies, including as acquisitions, partnerships, new product development, and geographic expansion, to deepen their market penetration and meet shifting technical demands. For instance, In April 2022, The Italian hydraulic equipment maker Duplomatic MS S.p.A. and Daikin Industries, Ltd. announced a purchase deal Diakin Industries, Ltd. hopes that this acquisition will help it break into the European industrial equipment market. In August 2022, The tiny hydraulic power pack type HICON was introduced by HAWE and is intended for use in recreational boats while also providing a distinct advantage in a variety of other applications. It is waterproof, making it resistant to water splashes or brief submersion while in use.

Prominent players in the  hydraulic equipment market research include Moog Inc. (US), Bucker Hydraulics (Germany), Daikin (Japan), Concentric (Sweden), Casappa (Italy), Nachi-Fujikoshi (Japan), Dantal Hydraulics (India), Fluitronics GmbH (Germany), and Linde Hydraulics (Germany) among others.

Scope of the  Hydraulic Equipment Market Segmantation

By Component Outlook

  • Pumps

  • Motors

  • Valves

  • Cylinder

  • Accessories

By Application Outlook

  • Industrial

  • Mobile

By Region Outlook

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia and New Zealand

    • Rest of Asia-Pacific

  • Rest of the World

    • South America

    • Middle East

    • Africa

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Hydraulic Equipment Market Forecast & Size:

To identify and estimate the market size for the  hydraulic equipment market report segmented by component and application by value (in US dollars). Also, to understand the consumption/ demand created by consumers in  hydraulic equipment market forecast between 2022 and 2030

  • Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges in the  hydraulic equipment market growth

  • Market Influencing Factors:

To find out the factors which are affecting the  hydraulic equipment market size among consumers

  • Impact of COVID-19:

To identify and understand the various factors involved in the market affected by the pandemic

  • Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • Hydraulic equipment producers

  • Raw material suppliers

  • Retailers, wholesalers, and distributors

  • Governments, associations, and industrial bodies

  • Manufacturing companies

Report Scope:

Report Attribute/Metric Details
  Market Size 2028: USD 61.23 billion 2030 : Significant value
  CAGR   9.11% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Bosch Rexroth (Germany), Eaton Corporation Plc (Ireland), Parker Hannifin (US), Kawasaki (Japan), HAWE (Germany), Hydac (Germany), Moog, Inc. (US), Bucker Hydraulics (Germany), Daikin (Japan), Concentric (Sweden), Casappa (Italy), Nachi-Fujikoshi (Japan), Dantal Hydraulics (India), Fluitronics GmbH (Germany), and Linde Hydraulics (Germany)
  Key Market Opportunities   Rising demand for construction equipment
  Key Market Drivers Rising need for water and wastewater infrastructure in Asia-Pacific Growing demand from the food & beverage industry

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Frequently Asked Questions (FAQ) :

The  hydraulic equipment market forecast period is 2022 - 2030

The market is expected to register a CAGR of 9.11 % over the next 10 years, according to the  hydraulic equipment market research.

Asia Pacific is expected to register the highest CAGR during 2022 - 2030

North America held the largest share in 2021

The market size is expected to be USD Significant value by 2030.

Eaton Corporation Plc (Ireland), Parker Hannifin (US), Kawasaki (Japan), HAWE (Germany), Hydac (Germany), and Moog Inc. (US) are the major companies operating in the market.