The global hydraulic power market size was valued at $13.7 billion in 2021, and projected to reach $24.1 billion by 2031, with a CAGR of 5.8% from 2022 to 2031.
The hydraulic power is a package consisting of various components such as hydraulic motor & pump, reservoir/accumulators and other accessories such as filter, valves, tubes, regulators, and instruments used to monitor the performance of a hydraulic system. It is used to transmit, control, and distribute energy from a pressurized fluid to perform various mechanical tasks and is a main component of hydraulic systems producing enormous amount of power, driving various hydraulic rams and equipment.
The rise in investments in industrialization and increase in demand for agricultural products, boost the growth of the global hydraulic power market is likely to rise at a rapid pace throughout the forecast period. A hydraulic power is a self-contained system that includes hydraulic pumps, motors, and reservoirs. Hydraulic power can generate a lot of power, which can be used to drive any form of hydraulic ram. Hydraulic power, unlike normal pumps, use a multi-stage pressurization network to transfer fluid while also adding temperature control devices. Hydraulic power is also favored for many mobile and industrial applications due to their physical qualities, such as size, power supply, and pumping strength.
Rapid industrialization and surge in usage of hydraulic power in agriculture are two major factors driving the growth of the global hydraulic power market. Furthermore, the use of hydraulic power is likely to increase, particularly in industrial applications, as infrastructure construction accelerates. In emerging countries, rise in population and improved living standards have resulted in increased energy and infrastructure needs. Factors such as rise in building activity throughout the world, fast industrialization, and a developing oil & gas industry are expected to boost the demand for hydraulic pump during the forecast period.
The hydraulic power market is segmented on the basis of operating pressure, component, application, end use and region.
On the basis of operating pressure of hydraulic power, the market is segmented into 0-750 PSI, 750-2000 PSI, 2000-3000 PSI, and more than 3000 PSI. On the basis of component, it is classified into power component, control component, and auxiliary component. On the basis of application, the market is divided into cutting, grinding, milling, multi-tooling, forming, rubber & plastic, handling, simulation & testing, and others. On the basis of end-use, it is segmented into mobile, industrial, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia-Pacific and Europe.
The major companies profiled in this report include Bosch Rexroth AG, Brevini Fluid Power S.p.A, Nachi-Fujikoshi Corporation, Parker Hannifin Corporation, Weber Hydraulik GmbH, Hydac International GmbH, Hydro-Tek Co Ltd., Bailey International LLC, Eaton Corporation, Energy Manufacturing Company Inc., Hydromega, Branch Hydraulic Systems Ltd., Related Fluid Power Ltd., HCS Control Systems Ltd., Danfoss, Siemens AG, and Daikin Industries. Rapid development of industrialization, modernization and investment in the development of tourism industry has led to surge in the construction and other sectors; which in-turn has fuelled the demand for hydraulic power. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the application of hydraulic equipment in various sectors will provide a suitable platform for the development of hydraulic power market.
After the global vaccination the government of various countries has taken initiatives to increase the investment in the energy and transportation infrastructure. Furthermore, India policies to make the country a world class manufacturing hub have led to investment in the construction of air ports, sea ports, and large scale manufacturing facilities. The presence of above mentioned activities and change in policies due to outbreak of pandemic have positive impact on the development of the market during the forecast period.
The hydraulic power is a package consisting of various components such as hydraulic motor & pump, reservoir/accumulators and other accessories such as filter, valves, tubes, regulators, and instruments used to monitor the performance of a hydraulic system. It is used to transmit, control, and distribute energy from a pressurized fluid to perform various mechanical tasks and is a main component of hydraulic systems producing enormous amount of power, driving various hydraulic rams and equipment.
The rise in investments in industrialization and increase in demand for agricultural products, boost the growth of the global hydraulic power market is likely to rise at a rapid pace throughout the forecast period. A hydraulic power is a self-contained system that includes hydraulic pumps, motors, and reservoirs. Hydraulic power can generate a lot of power, which can be used to drive any form of hydraulic ram. Hydraulic power, unlike normal pumps, use a multi-stage pressurization network to transfer fluid while also adding temperature control devices. Hydraulic power is also favored for many mobile and industrial applications due to their physical qualities, such as size, power supply, and pumping strength.
Rapid industrialization and surge in usage of hydraulic power in agriculture are two major factors driving the growth of the global hydraulic power market. Furthermore, the use of hydraulic power is likely to increase, particularly in industrial applications, as infrastructure construction accelerates. In emerging countries, rise in population and improved living standards have resulted in increased energy and infrastructure needs. Factors such as rise in building activity throughout the world, fast industrialization, and a developing oil & gas industry are expected to boost the demand for hydraulic pump during the forecast period.
The hydraulic power market is segmented on the basis of operating pressure, component, application, end use and region.
On the basis of operating pressure of hydraulic power, the market is segmented into 0-750 PSI, 750-2000 PSI, 2000-3000 PSI, and more than 3000 PSI. On the basis of component, it is classified into power component, control component, and auxiliary component. On the basis of application, the market is divided into cutting, grinding, milling, multi-tooling, forming, rubber & plastic, handling, simulation & testing, and others. On the basis of end-use, it is segmented into mobile, industrial, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia-Pacific and Europe.
The major companies profiled in this report include Bosch Rexroth AG, Brevini Fluid Power S.p.A, Nachi-Fujikoshi Corporation, Parker Hannifin Corporation, Weber Hydraulik GmbH, Hydac International GmbH, Hydro-Tek Co Ltd., Bailey International LLC, Eaton Corporation, Energy Manufacturing Company Inc., Hydromega, Branch Hydraulic Systems Ltd., Related Fluid Power Ltd., HCS Control Systems Ltd., Danfoss, Siemens AG, and Daikin Industries. Rapid development of industrialization, modernization and investment in the development of tourism industry has led to surge in the construction and other sectors; which in-turn has fuelled the demand for hydraulic power. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the application of hydraulic equipment in various sectors will provide a suitable platform for the development of hydraulic power market.
Covid-19 Analysis
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for solar related equipment in most of the countries across the world led to decline in the demand of the hydraulic power market. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market.After the global vaccination the government of various countries has taken initiatives to increase the investment in the energy and transportation infrastructure. Furthermore, India policies to make the country a world class manufacturing hub have led to investment in the construction of air ports, sea ports, and large scale manufacturing facilities. The presence of above mentioned activities and change in policies due to outbreak of pandemic have positive impact on the development of the market during the forecast period.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hydraulic power market analysis from 2021 to 2031 to identify the prevailing hydraulic power market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hydraulic power market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hydraulic power market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Operating Pressure
- 0-750 PSI
- 750-2000 PSI
- 2000-3000 PSI
- More than 3000 PSI
By Component
- Power component
- Type
- Motor
- Pumps
- Others
- Control component
- Type
- Pressure valves
- Directional valves
- Flow control valves
- Others
- Auxiliary component
- Type
- Couplings
- Manifold block
- Suction pipe
- Return pipe
- Tank
- Air breather
- Others
By Application
- Cutting
- Grinding
- Milling
- Multi-tooling
- Forming
- Rubber and Plastic
- Handling
- Simulation and Testing
- Others
By End Use
- Mobile
- Industrial
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Bosch Rexroth AG
- Brevini Fluid Power S.p.A
- Nachi-Fujikoshi Corporation
- Parker Hannifin Corporation
- Weber Hydraulik GmbH
- Hydac International GmbH
- Hydro-Tek Co Ltd.
- Bailey International LLC
- Eaton Corporation
- Energy Manufacturing Company Inc.
- Hydromega
- Branch Hydraulic Systems Ltd
- Related Fluid Power Ltd.
- HCS Control Systems Ltd.
- Sauer-Danfoss Inc.
- Siemens AG
- Daikin Industries Ltd.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HYDRAULIC POWER MARKET, BY OPERATING PRESSURE
CHAPTER 5: HYDRAULIC POWER MARKET, BY COMPONENT
CHAPTER 6: HYDRAULIC POWER MARKET, BY APPLICATION
CHAPTER 7: HYDRAULIC POWER MARKET, BY END USE
CHAPTER 8: HYDRAULIC POWER MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Hydraulic Power Market," the hydraulic power market size was valued at $13.7 billion in 2021, and hydraulic power market is estimated to reach $24.1 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.Hydraulic power is a vital part of a hydraulic system as it can generate a significant quantum of power to initiate mostly any type of hydraulic ram. They draw power using Pascal’s law, i.e., through ratios of area and pressure. The hydraulic power industry includes applications such as machine tools, aerospace test equipment, automation systems, meat processing machinery, mobile equipment, rolling mill machinery, and material handling equipment. Also, they are applied in agricultural equipment, paper mill machinery, oil exploration, oil spill clean-up equipment, industrial process, marine equipment, construction equipment, and theatrical & production equipment.
Rise in construction and increase in production capacities of oil fields coupled with surge in stress on the agricultural sector is projected to drive the demand for hydraulic equipment. It had witnessed considerable growth in the past decades since its implementation in hydraulic machinery. Rise in demand for these machineries and rapid industrialization across the globe are the factors expected to foster the growth of the hydraulic power market. However, increase in demand for alternative power systems such as electromechanical and electric drives with efficient clean and shorter lead times are some of the factors hampering the hydraulic power market growth.
The hydraulic power consists of various components, such as a hydraulic motor and pump, reservoir/accumulators, and other accessories, such as filters, valves, tubes, regulators, and instruments used to monitor the performance of a hydraulic system. In 2021, there was a rapid increase in construction across the United States and Canada. The residential sector was a key driver of the increasing demand for more housing units needing hydraulic power. For instance, construction spending in the United States registered significant growth in 2021 compared to 2020. As of 2021, the average construction spending in the private sector was around USD 1230 billion and over USD 346 billion in the public sector, thus creating significant market demand for hydraulic powers. Also, construction projects in Europe like Crossrail1, Crossrail2, Heathrow airport expansion, Hinkley Point C nuclear plant (UK), and Fehmarn Fixed Belt link (Denmark) are likely to increase the need for hydraulic power during the forecast period. In January 2020, there were nearly 343 pre-construction coal-powered thermal power plants worldwide. The pre-construction plants are estimated to have a capacity of around 299 GW, which may drive the hydraulic power market considerably.
The hydraulic power market forecast is segmented on the basis of operating pressure, component, application, end use and region. On the basis of operating pressure of hydraulic power, the market is segmented into 0-750 PSI, 750-2000 PSI, 2000-3000 PSI, and more than 3000 PSI. On the basis of component, it is classified into power component, control component, and auxiliary component. On the basis of application, the market is divided into cutting, grinding, milling, multi-tooling, forming, rubber & plastic, handling, simulation & testing, and others. On the basis of end-use, it is segmented into mobile, industrial, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia-Pacific and Europe.
The major companies profiled in this report include Bosch Rexroth AG, Brevini Fluid Power S.p.A, Nachi-Fujikoshi Corporation, Parker Hannifin Corporation, Weber Hydraulik GmbH, Hydac International GmbH, Hydro-Tek Co Ltd., Bailey International LLC, Eaton Corporation, Energy Manufacturing Company Inc., Hydromega, Branch Hydraulic Systems Ltd., Related Fluid Power Ltd., HCS Control Systems Ltd., Danfoss, Siemens AG, and Daikin Industries. Rapid development of industrialization, modernization and investment in the development of tourism industry has led to surge in the construction and other sectors; which in-turn has fueled the demand for hydraulic power. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the application of hydraulic equipment in various sectors will provide a suitable platform for the development of hydraulic power market trends.
Key Findings of the Study
- Japan contributes around 3.9% of total hydraulic power market share and would exhibit CAGR of 5.7% during 2022-2031.
- South Korea contributes around 2.51% of total market share and would exhibit CAGR of 7.0% during 2022-2031
- As per global hydraulic power market analysis, by operating pressure, the 2000-3000 PSI segment accounted for the largest share of 46.2% in 2021.
- By component, auxiliary component was the leading segment in 2021 comprising 47.6% of market share in 2021.
- By application, cutting segment occupied market share of 27.5% and is the leading segment in 2021.
- By end use, mobile segment was the highest revenue contributor in 2021 contributing a market share of 45.2% in 2021.
- By region, North America was the leading segment in 2021expected to possess a CAGR of 5.2% during 2022-2031
COVID-19 Analysis
- COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for solar related equipment in most of the countries across the world led to decline in the demand of the hydraulic power market. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market.
- After the global vaccination the government of various countries has taken initiatives to increase the investment in the energy and transportation infrastructure. Furthermore, India policies to make the country a world class manufacturing hub have led to investment in the construction of air ports, sea ports, and large scale manufacturing facilities. The presence of above mentioned activities and change in policies due to outbreak of pandemic have positive impact on the development of the market during the forecast period.
Companies Mentioned
- Bosch Rexroth AG
- Brevini Fluid Power S.P.A
- Nachi-Fujikoshi Corporation
- Parker Hannifin Corporation
- Weber Hydraulik GmbH
- Hydac International GmbH
- Hydro-Tek Co Ltd.
- Bailey International LLC
- Eaton Corporation
- Energy Manufacturing Company Inc.
- Hydromega
- Branch Hydraulic Systems Ltd
- Related Fluid Power Ltd.
- Hcs Control Systems Ltd.
- Sauer-Danfoss Inc.
- Siemens AG
- Daikin Industries Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 572 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 13.7 billion |
| Forecasted Market Value ( USD | $ 24.1 billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
