Hydraulic Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Hydraulic Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global hydraulic tools market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.

Hydraulic tools are high-powered tools widely used to operate hydraulic machinery with pressurized fluid. They are also utilized in tunneling and mining, constructing roads and highways, creating barriers and fences, securing street signs to metal posts, and powering construction cranes to facilitate the movement of large and heavy items. They are strong, portable, flexible and can be hooked onto a hydraulic power unit or a hydraulic system for various industrial purposes. They rely on hydraulic tubes to move the fluid into the actuator and transfer the pressure stored to moving parts of the machine.

Hydraulic Tools Market Trends:
The expanding construction sector, along with rapid industrialization across the globe, represents one of the key factors driving the market. Moreover, the escalating demand for material handling equipment in oil and gas, marine, automotive, and railway industries is stimulating the growth of the market. In addition, there is a rise in the integration of electronics with hydraulic cylinders to increase accuracy, functionality, and improvements in controlled performance. This, coupled with technological developments in tools and machineries that are used in core construction of the infrastructure industry, is catalyzing the demand for hydraulic tools around the world. Besides this, governments of several countries are extensively investing in the infrastructure of sports and facilities, which is positively influencing the market. Additionally, major manufacturers in the hydraulic ecosystem are continuously investing in research and development (R&D) activities to upgrade hydraulic equipment and offer better solutions to users. These initiatives, in confluence with the rising employment of hydraulic tools in the agriculture industry for producing crops and livestock management, are projected to bolster the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hydraulic tools market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, distribution channel and end user.

Breakup by Type:

Hydraulic Cylinder and Jack
Hydraulic Rescue Tools
Tension and Torque Tools
Others

Breakup by Distribution Channel:

Online
Offline

Breakup by End User:

Industrial Manufacturing
Oil and Gas and Petrochemical
Utility
Railway
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Atlas Copco North America LLC, BVA Hydraulics, Cembre S.p.A. (Lysne S.P.A.), Emerson Electric Co., Enerpac Tool Group Corp., Hangzhou WREN Hydraulic Equipment Manufacture Co. Ltd., Hi-Force Limited, HTL Group Ltd., Kudos Mechanical Co. Ltd., LUKAS Hydraulik GmbH (IDEX Corporation), SPX Flow Inc., Super Unique Enterprise Co. Ltd. and Tai Cheng Hydraulic Industry Co. Ltd.

Key Questions Answered in This Report

1. What was the size of the global hydraulic tools market in 2022?
2. What is the expected growth rate of the global hydraulic tools market during 2023-2028?
3. What are the key factors driving the global hydraulic tools market?
4. What has been the impact of COVID-19 on the global hydraulic tools market?
5. What is the breakup of the global hydraulic tools market based on the end user?
6. What are the key regions in the global hydraulic tools market?
7. Who are the key players/companies in the global hydraulic tools market?