Fluid
Power Equipment Market Scenario
The global fluid power equipment market is expected to
register a growth rate of 6.05% CAGR during the forecast period. Fluid
power equipment are important components of any machining equipment and are
responsible for the precision and efficiency of a machine. Any small defect can
hamper the performance of an entire system. Hence, a wide range of materials
are used in hydraulic and pneumatic equipment to minimize wear and provide
optimum performance.
Fluid power is one of the most common methods of power
transmission in various mobile hydraulics, industrial hydraulics, and pneumatic
applications. Fluid power systems provide effective and simple control of
speed, torque, direction, and force using control valves. Thus, these systems
do not require electrical power, thereby eliminating the risk of sparks,
explosions, electrical shock, and fire.
The global fluid power equipment market is set to
witness significant growth due to the increasing manufacturing activities,
globally, and the growth of the material handling industry. Fluid power
equipment is used in steel and paper industries and power plants owing to their
high reliability and low noise. According to the statistical data from the
World Bank, the global manufacturing value added grew from USD 12.338 trillion
in 2016 to USD 13.49 trillion in 2017.
This resulted in an increased demand of fluid power equipment. On the
other hand, the high cost of the fluid power equipment is one of the major
restraints of the global fluid power equipment market.
Leading
Players
The key players operating in the global fluid power
equipment market are Bosch Rexroth (Germany), Parker Hannifin (US), Fluid-Power
Equipment, Inc. (US), Fluid Systems, Inc. (US), Hydac (Germany), Bucker
Hydraulics (Germany), Concentric (Sweden), Related Fluid Power Ltd (UK), Eaton Corporation Plc (Ireland), Kawasaki (Japan), Sparrows Group (UK), HAWE
(Germany), Moog, Inc. (US), Daikin (Japan), Casappa (Italy), and Kent Fluid
Power Ltd (US).
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Industry
Segmentation
The global fluid power equipment market has been
segmented based on type, component, application, and region.
On the basis of type, the global fluid power equipment
market has been divided into hydraulics and pneumatics.
On the basis of component, the global fluid power
equipment market is segmented into pumps, motors, valves, cylinder, steel tube
and compression fitting, accumulators, and accessories.
On the basis of application, the global fluid power
equipment market has been segmented into construction, automotive, oil &
gas, food processing, packaging, semiconductor, and others.
Regional
Outlook
On the basis of region, the global fluid power
equipment market has been segmented into Asia-Pacific, North America, Europe,
the Middle East & Africa, and South America.
The growth in the demand for fluid power equipment in
Asia-Pacific is driven by the increasing use of these equipment in the
manufacturing and automotive industries with various benefits including, high
efficiency and their compatibility with varied fluid types. Moreover, a large
number of market players are investing in the development of fluid power equipment
because of their significant demand in mobile hydraulic applications. Such
factors are likely to raise the demand of axial piston pumps, globally. The
rising use of fluid power equipment such as pumps, motors, and valves in high
pressure applications in industries, such as construction, oil & gas, and
mining, is expected to drive the fluid power equipment market in the region.
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