As per the reports published by Market
Research Future (MRFR), the global hydraulic equipment
market is estimated to generate a revenue of USD 54.6 billion by the conclusion
of 2024. The market is likely to develop at 4.02% CAGR over the period, 2019 to
2024. Hydraulic equipment implies the usage of pressurized fluids in order
to perform machining functions. The hydraulic system makes use of liquid
(usually oil) to transfer electricity and has few benefits over mechanical and
electrical systems. The hydraulic systems are known to create linear motion
using hydraulic cylinders whereas the mechanical and electrical techniques need
mechanical device in order to turn rotational motion into linear motion. The
hydraulic equipment functions with the application of a diverse range of
valves, pumps, motors, actuators, and filters. Materials that are used in
hydraulic equipment comprise a large variety of metals and synthetics. Steel,
stainless-steel alloys, titanium, brass, woven wire, rubber is some of the
materials that are used in severely high-pressure systems.
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.
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).
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.
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.
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