As per the reports published by Market Research Future (MRFR), the global hydraulic equipment market is estimated to generate a revenue of USD 54.6 billion by the conclusion of 2024. The market is likely to develop at 4.02% CAGR over the period, 2019 to 2024. Hydraulic equipment implies the usage of pressurized fluids in order to perform machining functions. The hydraulic system makes use of liquid (usually oil) to transfer electricity and has few benefits over mechanical and electrical systems. The hydraulic systems are known to create linear motion using hydraulic cylinders whereas the mechanical and electrical techniques need mechanical device in order to turn rotational motion into linear motion. The hydraulic equipment functions with the application of a diverse range of valves, pumps, motors, actuators, and filters. Materials that are used in hydraulic equipment comprise a large variety of metals and synthetics. Steel, stainless-steel alloys, titanium, brass, woven wire, rubber is some of the materials that are used in severely high-pressure systems.

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Hydraulic power is one of the most common methods of generation, control, and transmission of power by using pressurized liquids in various mobile and industrial applications. Hydraulic machines use liquid fluid power and heavy equipment is one of the prominent examples. In such types of machines, hydraulic fluid is transmitted throughout the machine to various hydraulic cylinders and hydraulic motors and become pressurized as per the resistance present. This fluid is controlled by control valves and distributed through tubes and hoses.

The popularity of hydraulic machinery is due to the very large amount of power that can be transferred through small tubes and flexible hoses, and the high-power density and wide array of actuators that can make use of this power.

Segmental Analysis

The global hydraulic equipment market has been segmented on the basis of component, application, and region.

The hydraulic equipment market has been segmented based on component into pumps, motors, valves, cylinder, and accessories. The valves sub-segment is expected to dominate the market since these valves can prevent the backflow of liquid and provides flow resistance. Pumps are expected to be the fastest growing sub-segment due to high efficiency of the axial piston pumps. The hydraulic equipment market has been segmented based on application into industrial and mobile. The mobile sub-segment led the market in due to the large-scale use of fluid power equipment in agriculture, mining, and construction activities. The mobile sub-segment is expected to be the fastest growing segment during the forecast period.

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Leading Players

The key players of the global hydraulic equipment market are Bosch Rexroth (Germany), Parker Hannifin (US), Nachi-Fujikoshi (Japan), Hydac (Germany), Bucker Hydraulics (Germany), Concentric (Sweden), Linde Hydraulics (Germany), Eaton Corporation Plc (Ireland), Fluitronics GmbH (Germany), Kawasaki (Japan), HAWE (Germany), Moog, Inc. (US), Daikin (Japan), Casappa (Italy), and Dantal Hydraulics (India).

Regional Analysis

On the basis of region, the global hydraulic equipment market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.

The growth of hydraulic equipment in Asia-Pacific is driven by the growing use of these equipment in manufacturing and automotive industries with benefits including, high efficiency, and their compatibility with varied fluid types.

Moreover, a large number of market players are investing in the development of hydraulic equipment because of their huge demand in mobile hydraulic applications. Such factors are likely to raise the demand of hydraulic equipment, globally.

For instance, in February 2019, Kawasaki Heavy Industries Ltd. (Japan) completed a new plant in India for manufacturing hydraulic equipment for construction machinery in order to meet the rising demand of local infrastructure in India.

Also Read: https://www.marketwatch.com/press-release/hydraulic-equipment-market-research-report-2019-global-analysis-by-trends-opportunities-challenges-key-players-review-component-application-and-forecast-to-2024-2019-12-13

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