ID: MRFR/E&P/7296-HCR | February 2021 | Region: Global | 111 pages
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.
The Global Hydraulic Power Unit Market size is projected to reach USD 8.01 Billion by 2025, with 5.3% CAGR between 2019 and 2025.
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.
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.
The global hydraulic power unit market has been segmented based on operating pressure rating and application. Based on operating pressure rating, the global market is segmented into up to 750 PSI, 750–2000 PSI, 2000–3000 PSI, and above 3000 PSI. The 750–2000 PSI segment is expected to grow with the highest CAGR during the forecast period as hydraulic power units operating between 750 and 2000 PSI can run various hydraulic tools. By application, the global hydraulic power unit market has been segmented into mobile, industrial, and others. The mobile segment is expected to hold the largest share within the global hydraulic power unit market owing to a significant increase in the US construction and industrial production activities.
The Global Hydraulic Power Unit Market is expected to grow at 5.3% CAGR during the forecast period.
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.
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).
Frequently Asked Questions (FAQ) :
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.