ID: MRFR/E&P/7296-HCR | 111 Pages | Published By Chitranshi Jaiswal on March 2023
Hydraulic Power Unit Market share is projected to reach USD 8.01 Billion by 2025, with 5.3% CAGR between 2019 and 2025.
$8.01 Billion
5.3%
Asia Pacific
2019-2025
Hydraulic Power Unit Market size is projected to reach USD 8.01 Billion by 2025, with 5.3% CAGR between 2019 and 2025.
Due to rising investments in industrialization and rising demand for agricultural products, of which hydraulic power units are apart, the worldwide hydraulic power unit market is likely to rise at a rapid pace throughout the forecast period. A hydraulic power unit is a self-contained system that includes hydraulic pumps, motors, and reservoirs. Hydraulic power units can generate a lot of power, which can be used to drive any form of hydraulic ram. Hydraulic power units, unlike normal pumps, use a multi-stage pressurization network to transfer fluid while also adding temperature control devices. Hydraulic power units are also favored for many mobile and industrial applications due to their physical qualities, such as size, power supply, and pumping strength.
Rapid industrialization and the growing usage of hydraulic power units in agriculture are two major factors driving the global hydraulic power unit market. Furthermore, the use of hydraulic power units is likely to increase, particularly in industrial applications, as infrastructure construction accelerates. In emerging countries, rising population and improved living standards have resulted in increased energy and infrastructure needs. Factors such as rising building activity throughout the world, fast industrialization, and a developing oil and gas industry are expected to boost demand for hydraulic pump units over the forecast period, driving market demand.
The key factors driving the growth of the global hydraulic power unit market include rapid industrialization and increasing use of hydraulic power units in the agriculture sector. Moreover, rising infrastructure development is also expected to drive the use of hydraulic power units, especially in industrial applications. For instance, according to the India Brand Equity Foundation (IBEF), India would require investments worth USD 777.53 billion in infrastructure by 2022 to ensure sustainable development. This, in turn, would increase the demand for hydraulic power units.
Key Players
The key players operating in the Global Hydraulic Power Unit Market are Bosch Rexroth AG (Germany), Brevini Fluid Power S.p.A (Italy), Nachi-Fujikoshi Corporation (Japan), Parker Hannifin Corporation (US), Weber Hydraulik GmbH (Germany), Hydac International GmbH (Germany), Hydro-Tek Co Ltd. (South Korea), Bailey International LLC (US), Eaton Corporation (Ireland), Energy Manufacturing Company, Inc. (US), Hydromega (Canada), Branch Hydraulic Systems Ltd (UK), Related Fluid Power Ltd. (UK), and HCS Control Systems Ltd. (UK).
Industry News
Market Segmentation
The global hydraulic power unit market is expected to witness a high growth rate during the forecast period owing to the increasing investments in industrialization and increasing demand for agricultural products, of which hydraulic power unit is a part.
Based on the region, the global hydraulic power unit market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific holds the largest market share due to the rapid industrialization in developing countries such as China, India, Malaysia, and other Southeast Asian countries. It is expected that Asia-Pacific would be the fastest-growing region in the market during the forecast period, mainly due to the growing energy requirements and urbanization. All these factors are likely to boost the demand for hydraulic power units in the region.
A hydraulic power unit is a self-sufficient system that comprises motors, hydraulic pumps, and reservoirs. Hydraulic power units are capable of generating a tremendous amount of power to drive any type of hydraulic ram. As compared to standard pumps, hydraulic power units use a multi-stage pressurization network to move fluid while incorporating temperature control devices. Moreover, the physical characteristics of hydraulic power units, including size, power supply, and pumping strength, makes these systems preferred for many mobile and industrial applications.
Many major players such as Bosch Rexroth AG, Brevini Fluid Power S.p.A, Related Fluid Power Ltd., Parker Hannifin Corporation, Weber Hydraulik GmbH, and Hydac International GmbH are actively focusing on new product development for enhancing their product portfolio. For instance, in August 2012, Related Fluid Power Ltd. Launched its 3kW DC electric fan-cooled motor that has increased the capabilities within its range of Mini130 and Mini150 hydraulic power units. This product development has helped the company enhance its product line of hydraulic power units. Similar products launched by major market players are likely to boost the global hydraulic power unit market during the forecast period.
Intended Audience
Report Attribute/Metric | Details |
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Market Size |
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CAGR | 5.3% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019Â &Â 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Operating Pressure Rating and Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Bosch Rexroth AG (Germany), Brevini Fluid Power S.p.A (Italy), Nachi-Fujikoshi Corporation (Japan), Parker Hannifin Corporation (US), Weber Hydraulik GmbH (Germany), Hydac International GmbH (Germany), Hydro-Tek Co Ltd. (South Korea), Bailey International LLC (US), Eaton Corporation (Ireland), Energy Manufacturing Company, Inc. (US), Hydromega (Canada), Branch Hydraulic Systems Ltd (UK), Related Fluid Power Ltd. (UK), and HCS Control Systems Ltd. (UK) |
Key Market Opportunities |
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Key Market Drivers |
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The global hydraulic power unit market can rise at 5.3% CAGR by 2025.
The market can value can exceed USD 8.01 Billion by 2025.
Mobile and industrial are some hydraulic power unit applications.
Weber Hydraulik GmbH (Germany), Parker Hannifin Corporation (US), and Hydac International GmbH (Germany) are some reputed names in hydraulic power unit market.
The existence of top notch Manufacturers and suppliers can drive the market.