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 global hydraulic equipment
market is set to witness significant growth due to increasing manufacturing
activities and the growth of the material handling industry. The hydraulic
equipment is used in steel and paper industries, and power plants owing to
their high reliability and low noise. Hydraulic equipment is used in
manufacturing sector because a large amount of power can be transferred via
small tubes and flexible hoses, resulting in high demand of hydraulic
equipment. On the other hand, the high cost and operational complexity of the
hydraulic equipment are the major restraints of the global hydraulic equipment
market.
Segmentation
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.
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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