Global Hydraulic Equipment Market Size study & Forecast, by Component (Pumps, Valves, Cylinders, Motors, Filters and Accumulators, Transmission, Others) By End-user (Construction, Agriculture, Material Handling, Aerospace and Defense, Automotive, Others)

Global Hydraulic Equipment Market Size study & Forecast, by Component (Pumps, Valves, Cylinders, Motors, Filters and Accumulators, Transmission, Others) By End-user (Construction, Agriculture, Material Handling, Aerospace and Defense, Automotive, Others) and Regional Analysis, 2022-2029

Global Hydraulic Equipment Market is valued approximately at USD 42.04 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3.87% over the forecast period 2022-2029. Hydraulic systems work by using a fluid, which is incompressible, to transmit power from one point to another. Hydraulic equipment is widely used in various industries, including automotive, construction, aerospace, manufacturing, agriculture, and many others. The Hydraulic Equipment market is expanding because of factors such as growing adopting of automated solutions and increasing demand for material handling equipment.

Hydraulic equipment plays a crucial role in many industries and applications, providing reliable and efficient power transmission and control capabilities for a wide range of tasks. Its use has progressively increased during the last few decades. According to Statista, in 2020, the global industrial automation market will be worth approximately USD 175 billion, and the market is projected to expand at an annual growth rate of 9% and estimated to reach about USD 265 billion by 2025. Furthermore, 2021, the worldwide intelligent process automation market was accounted for USD 20 billion, growing at a compound annual growth rate of 16% to reach USD 30 billion by the end of 2024. Another important component driving space is increasing demand for material handling equipment. As per Statista, Material handling equipment sales are expected to reach 1.75 million units by 2020 and the sales are expected to rise significantly in the coming years, to be accounted for over 3.1 million units by 2029. In addition, in 2021, at global level over 2.3 million material handling equipment orders have been placed which is an increase by 42% from previous years. Furthermore, Asia-Pacific had the highest increase in orders of more than 66%. Also, growing adoption of hydraulics equipment across agriculture and construction industry and rising industrialization would create a lucrative growth prospects for the market over the forecast period. However, the high cost of Hydraulic Equipment stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Hydraulic Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominates the market in terms of revenue, owing to the presence of key market players in the region. According to Statista, the North American construction and heavy equipment market is expected to reach about USD 51 billion by 2026. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as rising industrialization, geographic expansion of key players, and active participation of government organizations in the market space.

Major market player included in this report are:

Bosch Rexroth (India) Limited
Danfoss A/S
Parker-Hannifin Corporation
Enerpac Tool Group
HYDAC International GmbH.
Kawasaki Heavy Industries
KYB Corporation
SMC Corporation
Wipro Enterprises
Caterpillar Inc

Recent Developments in the Market:
 In September 2022, Parker-Hannifin Corp. completed its acquisition of aerospace and defence components manufacturer Meggitt PLC for approximately USD 7.84 billion. Both the companies will enable greater support of electrification and net-zero emissions goals.

Global Hydraulic Equipment Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, End-user, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component
Pumps
Valves
Cylinders
Motors
Filters and Accumulators
Transmission
Others

By End-user
Construction
Agriculture
Material Handling
Aerospace and Defense
Automotive
Others



By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
Bosch Rexroth (India) Limited
Danfoss A/S
Parker-Hannifin Corporation
Enerpac Tool Group
HYDAC International GmbH.
Kawasaki Heavy Industries
KYB Corporation
SMC Corporation
Wipro Enterprises
Caterpillar Inc

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