Hydraulic power is
one of the most common methods of generation, control, and transmission of
power by using pressurized liquids in various mobile and industrial applications.
Hydraulic machines use liquid fluid power and heavy equipment is one of the prominent
examples. In such types of machines, hydraulic fluid is transmitted throughout
the machine to various hydraulic cylinders and hydraulic motors and become
pressurized as per the resistance present. This fluid is controlled by control
valves and distributed through tubes and hoses.
The popularity of
hydraulic machinery is due to the very large amount of power that can be
transferred through small tubes and flexible hoses, and the high-power density
and wide array of actuators that can make use of this power.
Segmental
Analysis
The global hydraulic equipment
market has been segmented on the basis of component, application, and region.
The hydraulic equipment market has
been segmented based on component into pumps, motors, valves, cylinder, and
accessories. The valves sub-segment is expected to dominate the market since
these valves can prevent the backflow of liquid and provides flow resistance.
Pumps are expected to be the fastest growing sub-segment due to high efficiency
of the axial piston pumps. The hydraulic equipment market has been segmented
based on application into industrial and mobile. The mobile sub-segment led the
market in due to the large-scale use of fluid power equipment in agriculture,
mining, and construction activities. The mobile sub-segment is expected to be
the fastest growing segment during the forecast period.
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Regional
Analysis
On the basis of region, the global
hydraulic equipment market has been segmented into Asia-Pacific, North America,
Europe, the Middle East & Africa, and South America.
The growth of hydraulic equipment
in Asia-Pacific is driven by the growing use of these equipment in
manufacturing and automotive industries with benefits including, high
efficiency, and their compatibility with varied fluid types.
Moreover, a large number of market
players are investing in the development of hydraulic equipment because of
their huge demand in mobile hydraulic applications. Such factors are likely to
raise the demand of hydraulic equipment, globally. The rising use of hydraulic
equipment such as pumps, motors, and valves in high pressure applications in
industries, such as construction, oil & gas, and mining, are expected to
drive the hydraulic equipment market.
For instance, in February 2019,
Kawasaki Heavy Industries Ltd. (Japan) completed a new plant in India for
manufacturing hydraulic equipment for construction machinery in order to meet
the rising demand of local infrastructure in India.
Leading
Players
The key players of
the global hydraulic equipment market
are Bosch Rexroth (Germany), Parker Hannifin (US), Nachi-Fujikoshi (Japan), Hydac
(Germany), Bucker Hydraulics (Germany), Concentric (Sweden), Linde Hydraulics
(Germany), Eaton Corporation Plc (Ireland), Fluitronics GmbH (Germany), Kawasaki (Japan),
HAWE (Germany), Moog, Inc. (US), Daikin (Japan), Casappa (Italy), and Dantal
Hydraulics (India).
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