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The hydraulic equipment market share is expected to increase by USD 16.28 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.79%.
This hydraulic equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hydraulic equipment market segmentation by application (mobile and industrial), component (pump and motor, valve, cylinder, accumulator and filter, and others), and geography (APAC, North America, Europe, Middle East, and Africa, and South America). The hydraulic equipment market report also offers information on several market vendors, including 2G Engineering, Caterpillar Inc., Daikin Industries Ltd., Dana Inc., Dyna Flex Inc, Eaton Corp. Plc, Emerson Electric Co., Enerpac Tool Group Corp., Flowserve Corp., Gates Industrial Corp. Plc, Hangzhou WREN hydraulic equipment manufacture Co. Ltd., HANNON HYDRUALICS LLC, HYDAC Verwaltung GmbH, Kawasaki Heavy Industries Ltd., Komatsu Mining Corp., Kurt Manufacturing Co, Ligon Industries LLC, Moog Inc., Nitta Corp., NRP Jones, OLMEC Srl, Pacoma GmbH, Parker Hannifin Corp., Rexa Inc., Robert Bosch GmbH, RYCO Hydraulics Pty Ltd., Siemens AG, SMC Corp., Texas Hydraulics Inc., The Kerry Co. Inc., Transfer Oil Spa, WEBER HYDRAULIK GmbH, and Wipro Ltd among others.
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Based on our research output, there has been a neutral impact on the market growth during and after post COVID-19 era. The growth of the construction sector is notably driving the hydraulic equipment market growth, although factors such as may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the hydraulic equipment industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Hydraulic Equipment Market Driver
The growth of the construction sector is notably driving the hydraulic equipment market growth. The growth of the real estate industry, especially the increase in residential and commercial construction worldwide, is driving the global hydraulic equipment market. Developed economies, such as the US, are planning to make significant investments in infrastructural development. In emerging economies, such as India, the possibility of 100% foreign direct investments (FDI) in townships and settlement projects is estimated to increase the demand for hydraulic construction equipment such as hydraulic cranes, excavators, and loaders during the forecast period. The demand for construction machinery is growing due to an increase in investments in infrastructure projects worldwide. Governments worldwide are investing significantly in the development of sports infrastructure and facilities. This will increase the demand for hydraulic equipment in construction machinery during the forecast period.
Key Hydraulic Equipment Market Trend
The advent of integrated Industry 4.0 with IoT is the key market trend driving the hydraulic equipment market growth. The global economy is currently witnessing the adoption of industrial automation across end-user industries, which is called the Industry 4.0 revolution. Automation is required to integrate all the systems in warehouses and distribution centers. For instance, integrated hydraulic equipment that is integrated with a network provides an opportunity to improve operations and reduces energy costs. The data collected from sensors are stored in the cloud and can be accessed instantly for further analysis. Therefore, material handling processes, which are a key part of any facility, are increasingly being automated to adjust fluids, air pressure, and temperature. This is expected to increase the demand for advanced, automated hydraulic equipment during the forecast period, particularly as several companies are expected to adopt Industry 4.0.
Key Hydraulic Equipment Market Challenge
The major challenge impeding the hydraulic equipment market growth is the volatility in manufacturing costs. Fluctuations in prices of raw materials such as stainless steel, iron ore, aluminum, bronze, and other metal alloys have caused volatility in the production cost of hydraulic equipment. This, in turn, has led to a demand-supply gap. Moreover, the components used to manufacture hydraulic equipment components such as motors, valves, and hydraulic cylinders are expensive. Hence, a high initial investment is required, which affects the cost of ownership of equipment, thereby reducing the profit margins of manufacturers. In addition, fluctuation in oil prices may increase the operating cost incurred by end-users as it will drive the price of the equipment.
This hydraulic equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hydraulic equipment market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hydraulic equipment market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the hydraulic equipment market encompasses successful business strategies deployed by the key vendors. The hydraulic equipment market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hydraulic equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hydraulic equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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47% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for hydraulic equipment in APAC. Market growth in this region will be faster than the growth of the market in regions.
The increase in industrialization and the significant production of automobiles and industrial machinery are driving the demand for hydraulic equipment, thereby the growth of the market. Rapidly growing end-user industries, competitive manufacturing costs, and high economic growth are the main factors that will facilitate the hydraulic equipment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The hydraulic equipment market share growth in the pump and motor segment will be significant during the forecast period. Hydraulic pumps and motors are used to convert mechanical energy into hydraulic or hydrostatic energy. These pumps and motors are integral components of construction, agriculture, oil and gas, and material handling machinery. The increasing demand for such equipment has a direct impact on the demand for hydraulic pumps and motors.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hydraulic equipment market size and actionable market insights on post COVID-19 impact on each segment.
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Hydraulic Equipment Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.79% |
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Market growth 2022-2026 |
$ 16.28 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.07 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 47% |
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Key consumer countries |
US, Canada, China, India, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
2G Engineering, Caterpillar Inc., Daikin Industries Ltd., Dana Inc., Dyna Flex Inc, Eaton Corp. Plc, Emerson Electric Co., Enerpac Tool Group Corp., Flowserve Corp., Gates Industrial Corp. Plc, Hangzhou WREN hydraulic equipment manufacture Co. Ltd., HANNON HYDRUALICS LLC, HYDAC Verwaltung GmbH, Kawasaki Heavy Industries Ltd., Komatsu Mining Corp., Kurt Manufacturing Co, Ligon Industries LLC, Moog Inc., Nitta Corp., NRP Jones, OLMEC Srl, Pacoma GmbH, Parker Hannifin Corp., Rexa Inc., Robert Bosch GmbH, RYCO Hydraulics Pty Ltd., Siemens AG, SMC Corp., Texas Hydraulics Inc., The Kerry Co. Inc., Transfer Oil Spa, WEBER HYDRAULIK GmbH, and Wipro Ltd |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Component
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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