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Hydraulic Equipment Market Research Report Information By Component (Pumps, Motors, Valves, Cylinder and Accessories), By Application (Industrial and Mobile), By End User (Mining & Construction, Agriculture & Forestry, Packaging, Material Handling, Aerospace & defense, Machine Tool, Oil & Gas, Automotive, Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/E&P/6594-HCR | 188 Pages | Author: Priya Nagrale| April 2024

Global Hydraulic Equipment Market Overview:

Hydraulic Equipment Market Size was valued at USD 44.3 Billion in 2022. The hydraulic equipment market industry is projected to grow from USD 48.33 Billion in 2023 to USD 97.09 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.11% during the forecast period (2024 - 2032). The main market driver of this is the increased demand for material handling equipment and the widespread adoption of hydraulic equipment. Furthermore, the hydraulic equipment market is driven by the rise in underwater exploration operations.

Global Hydraulic Equipment Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hydraulic Equipment Market Trends

  • Introduction of integrated Industry 4.0 with IoT is driving the market growth

The primary market trend propelling the hydraulic equipment market CAGR growth is the introduction of integrated Industry 4.0 with IoT. The so-called "Industry 4.0 revolution" is taking place in the global economy as end-user industries implement industrial automation. Integration of all the systems in warehouses and distribution centers requires automation. For instance, network-integrated hydraulic equipment can enhance operations and lower operating expenses. Sensor data is stored in the cloud and is instantly accessible for additional analysis. As a result, fluids, air pressure, and temperature are increasingly being adjusted by automated material handling operations, which are essential to any facility. During the projection period, this is anticipated to raise demand for sophisticated, automated hydraulic equipment, particularly as several businesses are anticipated to implement Industry 4.0.

Around the world, agriculture has long been a vital industry. Many tasks, including seeding, plowing, harvesting, spraying fertilizer and pesticides, and other procedures, were done by hand earlier. As a result of growing industrialization and the development of new technology, farmers today prefer employing machines for agricultural-related chores. Modern equipment is used in agriculture, such as atomized tractors or harvesters, to increase productivity and lower high labour costs. In response to the rise in the use of equipment in agriculture, many companies, including Komatsu, Bosch, John Deere, New Holland, and AGCO, are offering cutting-edge machinery with hydraulic motors, valves, and pumps, including tractors, dryers, mini excavators, wheel loaders, sprayers, rotary cutters, and planters & seeders. As a result of the usage of automation and mechanisation in farming, the market for hydraulic equipment is growing.

The expansion of the construction industry primarily drives the development of the hydraulic equipment market. The hydraulic equipment market is being driven by the expansion of the real estate industry, particularly the rise in residential and commercial buildings globally. Developed nations like the US intend to make large investments in infrastructure growth. The potential for 100% FDI in township and settlement projects in emerging economies like India is predicted to boost demand for hydraulic construction machinery such as hydraulic cranes, excavators, and loaders throughout the forecast period. Due to increased global investments in infrastructure projects, there is a growth in the demand for construction equipment. Governments worldwide are making considerable investments in sports facilities and infrastructure construction. As a result, during the projection period, there will be an increase in demand for hydraulic equipment in construction machines. Thus, driving the hydraulic equipment market revenue.

Hydraulic Equipment Market Segment Insights:

Hydraulic Equipment Component Insights

The hydraulic equipment market segmentation, based on component includes Pumps, Motors, Valves, Cylinder and Accessories. The cylinder segment dominated the market. 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 use hydraulic cylinders boost the growth of the global market.

Hydraulic Equipment Application Insights

The hydraulic equipment market segmentation, based on application, includes Industrial and Mobile. The industrial category generated the most income. Hydraulic equipment is used in many different sectors, including packaging, food and beverage, rubber, paper, printing, plastic, and press. For instance, hydraulic press machines mould the sheets into the necessary forms utilizing dyes in sheet metal press factories. Hydraulic press machines also form the sheet metal used for automotive bodywork.

Figure 1: Hydraulic Equipment Market, by Application, 2024 & 2032 (USD Billion)

Global Hydraulic Equipment Market, by Application, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hydraulic Equipment Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American hydraulic equipment market area will dominate this market. Over the past few years, North America's food and beverage, pharmaceutical, and FMCG businesses have all experienced rapid growth. The demand for hydraulic-operated filling and packing equipment has increased as a result of the rise in FMCG product demand, new manufacturing facilities, and the expansion of existing factories. When filling containers like bags and sacks, the food and beverage industry uses conveyors powered by hydraulic motors.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Hydraulic Equipment Market Share By Region 2022 (USD Billion)

Global Hydraulic Equipment Market Share By Region 2022

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe hydraulic equipment market accounts for the second-largest market share. The demand for packaged food and beverages, pharmaceuticals, and FMCG products has rapidly increased in Europe. Additionally, the need for hydraulic equipment in Europe has been fueled by the increase in projects undertaken in the manufacturing sectors of transportation, forestry, mining, agriculture, and construction. Additionally, major market participants have embraced a variety of developing techniques to strengthen their position. As an example, LEFORT introduced a new product line for large hydraulic shears & balers in June 2019. Further, the German hydraulic equipment market held the largest market share, and the UK hydraulic equipment market was the fastest growing market in the European region

The Asia-Pacific Hydraulic equipment Market is expected to grow at the fastest CAGR from 2023 to 2032. The hydraulic equipment sector is expanding at the quickest rate in the Asia-Pacific region as a result of the massive population bases in countries like China and India. This region has dramatically increased its use of FMCG products since a few years ago, which fuels market expansion. The rapidly expanding manufacturing, construction, mining, agricultural, and transportation sectors also contribute to the demand for hydraulic equipment. Companies have set up manufacturing facilities to meet the region's developing demand as a result of this growing requirement. Moreover, China’s hydraulic equipment market held the largest market share, and the Indian hydraulic equipment market was the fastest growing market in the Asia-Pacific region.

Hydraulic Equipment Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the hydraulic equipment market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, hydraulic equipment industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global hydraulic equipment industry to benefit clients and increase the market sector. In recent years, the hydraulic equipment industry has offered some of the most significant advantages to market. Major players in the Industrial hydraulic equipment market attempting to increase market demand by investing in research and development operations include 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).

Hydraulics, electrical engineering, and electronics make up the modular driving systems that Linde Hydraulics develops and distributes around the world. The systems created by Linde Hydraulics, a pioneer in the field of high pressure hydraulics, are the gold standard for drastically lowering fuel and CO2 usage. The product line consists of electric motors, rotary drives, valves, electronic controllers, hydraulic pumps, and motors. Linde Hydraulics is a development partner and supplier for a variety of recognized producers of mobile work equipment, including producers of industrial gear and equipment for the construction, mining, agriculture, forestry, and municipal utility sectors.

Manufacturer of air conditioners and refrigerants is Daikin Industries Ltd. (Daikin). It offers a broad range of goods and technology for air conditioning, refrigeration systems, oil hydraulics, defense systems, chemicals, and other electronics. The company's air conditioners are frequently utilised in home, commercial, and industrial settings. Additionally, it supplies fluoroplastics, machinery for chemical engineering, fluorocarbons, and fine chemical goods. The business offers industrial hydraulic machinery, mobile hydraulic equipment, guided missile componentry, and oxygen therapy equipment.

Key Companies in the hydraulic equipment market include

  • 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)

  • Linde Hydraulics (Germany)

Hydraulic Equipment Industry Developments

August 2022: The mini hydraulic power pack type HICON, developed by HAWE for use in recreational boats but with a distinct advantage in many other applications, was released. Because it is waterproof, it can operate when being splashed with water or briefly submerged in water.

July 2022: Bosch made an investment in BRUSA HyPower to round out its line of eLION products for off-road vehicle electrification. In the upcoming years, prominent corporations are likely to prioritize strategic acquisition and investments in up-and-coming businesses.

April 2022: Energy conservation and reducing carbon emissions are more important than ever, but oftentimes, outcomes come at the sacrifice of usability or efficiency. A speedy return on investment is provided by the Danfoss Heat Recovery Unit, which also offers significant environmental benefits and savings on heating bills.

January 2022: Future mobile hydraulics OEMs must create smarter, safer, and higher-performing machines than ever before if they are to meet the digitally driven expectations of the market. Since our factory in Minden, Germany now has additional manufacturing capacity, Danfoss Sensing Solutions will more than treble its thin-film pressure sensor production there in 2022.

Hydraulic Equipment Market Segmentation:

Hydraulic Equipment Component Outlook (USD Billion, 2018-2032)

  • Pumps

  • Motors

  • Valves

  • Cylinder

  • Accessories

Hydraulic Equipment Application Outlook (USD Billion, 2018-2032)

  • Industrial  

  • Mobile

Hydraulic Equipment End User Outlook (USD Billion, 2018-2032)

  • Mining & Construction

  • Agriculture & Forestry

  • Packaging

  • Material Handling

  • Aerospace & defense

  • Machine Tool

  • Oil & Gas

  • Automotive, Others

Hydraulic Equipment Regional Outlook (USD Billion, 2018-2032)

  • 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

Report Attribute/Metric Details
Market Size 2022 USD 44.3 Billion
Market Size 2023 USD 48.33 Billion
Market Size 2032 USD 97.09 Billion
Compound Annual Growth Rate (CAGR) 9.11% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Component, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled 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 Dynamics Rising need for water and wastewater infrastructure in Asia-PacificGrowing demand from the food & beverage industry

Frequently Asked Questions (FAQ) :

The global hydraulic equipment market size was valued at USD 44.3 Billion in 2022.

The global market is projected to grow at a CAGR of 9.11% during the forecast period, 2024-2032.

North America had the largest share in the global market.

The key players in the market are 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).

The cylinder category dominated the market in 2022.

The industrial category had the largest share in the global market.

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