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Global Hydraulics Market by Components (Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions), Type (Mobile Hydraulics, Industrial Hydraulics), End User (Construction, Agriculture, Material Handling), Sensors & Region - Forecast to 2028

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  • 213 Pages
  • December 2023
  • Region: Global
  • Markets and Markets
  • ID: 5230107

The global hydraulics market is expected to grow from USD 42.5 billion in 2023 to USD 50.5 billion by 2028, at a CAGR of 3.5% during the forecast period. The surge in construction projects, the growing need for advanced agricultural machinery, and the rising demand for material-handling equipment are some of the factors driving the hydraulics market. In addition, the increased utilization of lifting machinery in shipping and the growing embrace of electric vehicles are expected to open up opportunities in the evolving hydraulics market.

Cylinders segment is expected to grow at the highest CAGR during the forecast period

The cylinders segment is expected to grow at the highest CAGR during the forecast period. Multiple companies operating within the hydraulic cylinder market consistently allocate resources to research and development, aiming to enhance and innovate their hydraulic cylinders to offer superior solutions to their clients. Due to the intense competition in the hydraulic cylinder market, companies find it imperative to regularly upgrade their products. The evolution of smart hydraulic cylinders stands out as a crucial innovation propelling the hydraulics market forward. Known for their durability and simplicity, hydraulic cylinders are user-friendly components utilized in both industrial and mobile equipment. These cylinders find application in various sectors such as construction, aerospace, material handling, automotive, agriculture, mining, oil and gas, as well as marine applications.

Mobile hydraulics is expected to grow at the highest CAGR during the forecast period

The mobile hydraulics segment is expected to grow at the highest CAGR during the forecast period. Mobile hydraulic equipment, used in non-stationary machinery, meets the rising demand for hydraulic power in remote areas, leading to the incorporation of hydraulic cylinders. Technological advancements allow for easy lifting of heavy objects, enhancing stability and making mobile hydraulics a preferred choice. The increasing use of automated heavy construction and mining vehicles drives the growth of the mobile hydraulics market, ensuring worker safety and operational efficiency across various industries.

Agriculture industry is expected to grow at the highest CAGR during the forecast period

The agriculture industry is expected to grow at the highest CAGR during the forecast period. The agricultural industry is expanding due to the increased reliance on machinery for executing intricate tasks, ranging from planting vegetables to plowing fields. Manufacturers consistently aim to sustain high production levels while navigating diverse terrains and adapting to varying environmental conditions. Tasks involving moving heavy loads, fieldwork, crop handling, and more are performed on mobile equipment under significant stress. From pecan tree shakers to sugar cane harvesters and automated bale trailers to sprayer booms, hydraulics are integrated into nearly all agricultural equipment for controlling lifting and movement.

Asia Pacific region to register highest CAGR between 2023 and 2028

The hydraulics market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Rapid industrialization stands as a prominent driver, as countries within this region undergo significant industrial expansion. This surge in industrial activity generates a substantial demand for machinery and equipment reliant on hydraulic systems across various sectors such as manufacturing, construction, mining, and more. Moreover, the ongoing development of infrastructure plays a pivotal role in propelling the hydraulics market. Countries like China, India, and several Southeast Asian nations are actively engaged in extensive infrastructure projects, necessitating heavy machinery equipped with hydraulic components for construction purposes. This heightened demand for hydraulic systems and equipment in infrastructure development contributes significantly to market growth.

Breakdown of primaries

In determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the hydraulics market space. The break-up of primary participants for the report has been shown below:

  • By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
  • By Designation: C-level Executives - 48%, Directors - 33%, and Others - 19%
  • By Region: North America - 35%, Europe - 18%, Asia Pacific - 40%, and RoW - 7%

Major players operating in the hydraulics market include Enerpac Tool Group (US), Bosch Rexorth AG (Germany), Danfoss (Denmark), Hydac International GmbH (Germany), Kawasaki Heavy Industries, Ltd. (Japan), KYB Corporation (Japan), SMC Corporation (Japan) Parker-Hannifin Corporation (US), Wipro Enterprises (India), Caterpillar (US), among others.

Research Coverage

The report segments the hydraulics market and forecasts its size by components, type, end-user, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions - North America, Europe, Asia Pacific, and RoW. Value chain analysis has been included in the report, along with the key players and their competitive analysis in the hydraulics ecosystem.

Reasons to buy the report:

The report will help the market leaders/new entrants with information on the closest approximate revenues for the hydraulics market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Analysis of key drivers (the surge in construction projects, growing need for advanced agricultural machinery, and rising demand for material handling equipment), restraints (high manufacturing and maintenance costs, intensifying concerns regarding oil leaks), opportunities (advancement in intelligent hydraulic machinery, ongoing research and technological progress in hydraulic cylinders, surging adoption of lifting equipment in the shipping industry, increasing uptake of electric vehicles), and challenges (availability of substitute products).
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the hydraulics market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the hydraulics market across varied regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the hydraulics market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Danfoss (Denmark), Bosch Rexroth AG (Germany), Parker Hannifin Corporation (US), and other players.

Table of Contents

1 Introduction
1.1. Study Objectives
1.2. Market Definition and Scope
1.2.1. Inclusions and Exclusions
1.3. Study Scope
1.3.1. Markets Covered
1.3.2. Geographic Segmentation
1.3.3. Years Considered for the Study.
1.4. Currency
1.5. Limitations
1.6. Stakeholders
1.7. Summary of Changes
1.7.1. Recession Impact on Hydraulics Market
2 Research Methodology
2.1. Research Data
2.1.1. Secondary Data Major Secondary Sources Key Data from Secondary Sources
2.1.2. Primary Data Primary Interviews with Experts Key Data from Primary Sources Key Industry Insights Breakdown of Primaries
2.2. Market Size Estimation
2.2.1. Bottom-Up Approach Approach for Capturing Market Share by Bottom-Up Analysis (Demand Side)
2.2.2. Top-Down Approach Approach for Capturing Market Share by Top-Down Analysis (Supply Side)
2.3. Market Breakdown and Data Triangulation
2.4. Research Assumptions
2.5. Risk Assessment
2.6. Assumptions of Recession
2.7. Limitations of Research
3 Executive Summary4 Premium Insights
5 Market Overview
5.1. Introduction
5.2. Market Dynamics
5.3. Trends/Disruptions Impacting Customer's Business
5.4. Pricing Analysis
5.4.1. Average Selling Price Trend of Key Players, by Type
5.4.2. Average Selling Price Trend, by Region
5.5. Value Chain Analysis
5.6. Ecosystem Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Key Conferences and Events (2023-2024)
5.11. Case Study Analysis
5.12. Tariff and Regulatory Landscape
5.12.1. Regulatory Bodies, Government Agencies, and Other Organizations
5.13. Porters Five Force Analysis
5.13.1. Threat from New Entrants
5.13.2. Threat of Substitutes
5.13.3. Bargaining Power of Suppliers
5.13.4. Bargaining Power of Buyers
5.13.5. Intensity of Competitive Rivalry
5.14. Key Stakeholders and Buying Criteria
5.14.1. Key Stakeholders in Buying Process
5.14.2. Buying Criteria
6 Hydraulics Market, by Communication Technology
6.1. Introduction
6.2. Radio Frequency
6.3. Bluetooth
6.4. Wi-Fi
6.5. 4G/5G Cellular
7 Hydraulics Market, by Type
7.1. Introduction
7.2. Mobile
7.3. Industrial
8 Hydraulics Market, by Sensors
8.1. Introduction
8.2. Tilt Sensors
8.3. Position Sensors
8.4. Pressure Sensors
8.5. Temperature Sensors
8.6. Level Sensors
8.7. Flow Sensors
9 Hydraulics Market, by Components
9.1. Introduction
9.2. Motors
9.3. Pumps
9.4. Cylinders
9.5. Valves
9.6. Transmissions
9.7. Accumulators
9.8. Filters
9.9. Others
10 Hydraulics Market, by End-user
10.1. Introduction
10.2. Construction
10.3. Aerospace
10.4. Material Handling
10.5. Agriculture
10.6. Mining
10.7. Automotive
10.8. Marine
10.9. Metal & Machinery Manufacturing
10.10. Oil & Gas
10.11. Others
11 Hydraulics Market, by Region
11.1. Introduction
11.2. North America
11.2.1. Recession Impact
11.2.2. US
11.2.3. Canada
11.2.4. Mexico
11.3. Europe
11.3.1. Recession Impact
11.3.2. UK
11.3.3. Germany
11.3.4. France
11.3.5. Rest of Europe
11.4. Asia-Pacific
11.4.1. Recession Impact
11.4.2. China
11.4.3. Japan
11.4.4. South Korea
11.4.5. India
11.4.6. Rest of Asia-Pacific
11.5. Row
11.5.1. Recession Impact
11.5.2. Gcc
11.5.3. Africa & Rest of Middle East
11.5.4. South America
12 Competitive Landscape
12.1. Key Player Strategies/Right to Win
12.2. Revenue Analysis
12.3. Market Share Analysis
12.4. Company Evaluation Matrix
12.4.1. Stars
12.4.2. Emerging Leaders
12.4.3. Pervasive Players
12.4.4. Participants
12.4.5. Company Footprint
12.5. Startup/Sme Evaluation Matrix
12.5.1. Progressive Companies
12.5.2. Responsive Companies
12.5.3. Dynamic Companies
12.5.4. Starting Blocks
12.5.5. Competitive Benchmarking
12.6. Competitive Situation and Trends
13 Company Profile
13.1. Key Players
13.1.1. Enerpac Tool Group
13.1.2. Bosch Rexroth Ag
13.1.3. Danfoss
13.1.4. Hydac
13.1.5. Kawasaki Heavy Industries
13.1.6. Kyb Corporation
13.1.7. Smc Corporation
13.1.8. Parker-Hannifin Corporation
13.1.9. Wipro Enterprises
13.1.10. Caterpillar
13.2. Other Key Players
13.2.1. Advanced Hydraulics, LLC
13.2.2. Aggressive Hydraulics, Inc.
13.2.3. Bailey International, LLC
13.2.4. Holmatro
13.2.5. Prince Manufacturing
13.2.6. Kappa Engineering
13.2.7. Lehigh Fluid Power, Inc.
13.2.8. Ligon Hydraulic Cylinder Group
13.2.9. Marrel
13.2.10. Pacoma GmbH
13.2.11. Standex International
13.2.12. Texas Hydraulics
13.2.13. Valarm
13.2.14. Weber-Hydraulik
13.2.15. Yuasa Co., Ltd.
14 Adjacent Market
15 Appendix
15.1. Discussion Guide
15.2. Knowledge Store: The Subscription Portal
15.3. Available Customizations

Companies Mentioned

  • Advanced Hydraulics, LLC
  • Aggressive Hydraulics, Inc.
  • Bailey International, LLC
  • Bosch Rexroth Ag
  • Caterpillar
  • Danfoss
  • Enerpac Tool Group
  • Holmatro
  • Hydac
  • Kappa Engineering
  • Kawasaki Heavy Industries
  • Kyb Corporation
  • Lehigh Fluid Power, Inc.
  • Ligon Hydraulic Cylinder Group
  • Marrel
  • Pacoma GmbH
  • Parker-Hannifin Corporation
  • Prince Manufacturing
  • SMC Corporation
  • Standex International
  • Texas Hydraulics
  • Valarm
  • Weber-Hydraulik
  • Wipro Enterprises
  • Yuasa Co., Ltd.

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