Hydraulic Equipment Market is Expected to Register a High CAGR During the Forecast Period
Technological developments and construction
activities are expected to propel the growth of the market during the forecast
period.
According to TechSci Research report, “Hydraulic
Equipment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028F”, the global hydraulic equipment market is expected to register
a high CAGR during the forecast period. Machines that use liquid fluid to
function are known as hydraulic machines. Pumped to cylinders and motors
throughout the machine, the hydraulic fluid is pressurized while taking into
account resistance. Once the liquid has been controlled by the valves, it is
then distributed further through pipes, hoses, or tubes. The system only
requires one ON/OFF button to function. Since no gears or levers are utilized
during the process, the system is also lighter. Hydraulic equipment provides a
steady force despite changes in operation speed.
The development of new industrial facilities, the
expansion of the mining and construction industries, agricultural automation,
and other factors have raised the demand for hydraulic machinery. To
fulfil the growing demand, manufacturers of hydraulic equipment have put a
number of initiatives into place to enhance their product lines and give better
customer service. By raising the demand for hydraulic equipment with
cutting-edge technology, such strategies promote market expansion.
For centuries, agriculture has been an essential
and vital industry across the world. In the past, various tasks such as
ploughing, sowing, spraying fertilizer and pesticides, harvesting, and other
procedures were done by hand. Farmers now prefer using machines for
agriculture-related tasks due to increased industrialization and the
development of many unique pieces of equipment. To improve efficiency and
reduce high labor costs, farm operations use cutting-edge machinery such as
atomized tractors or harvesters.
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XX Pages and an in-depth TOC on the "Global Hydraulic Equipment Market"
The global hydraulic equipment market is segmented
based on type, end-user industry, and region. Based on type, the market can be
segmented into pumps, valves, cylinders, motors, filters & accumulators,
and transmission. Based on end-user industry, the market is segmented into
construction, agriculture, material handling, aerospace & defense, machine
tools, oil & gas, hydraulic press, plastics, and automotive. Based on
region, the market is segmented into North America, Asia-Pacific, Europe, South
America, and the Middle East & Africa.
Additionally, many companies, including Komatsu,
Bosch, John Deere, New Holland, and AGCO, are providing cutting-edge equipment
with hydraulic motors, valves, and pumps, including tractors, dryers, sprayers,
rotary cutters, mini excavators, wheel loaders, and planters & seeders, in
response to the increase in the adoption of equipment in agriculture. For
instance, the Farm Equipment Sector of Mahindra & Mahindra introduced new
Novo 65 HP and 75 HP tractors in April 2018 that are outfitted with a
cutting-edge synchromesh transmission and a precise hydraulics system. As a
result, the market for hydraulic equipment is expanding due to the use of
automation and machinery in farming.
The need for hydraulic equipment has increased due to
the industrialization of developing nations. Equipment that can perform heavy
operations is needed in industries such as mining and construction equipment,
agricultural equipment, packaging, and material handling. Hydraulic motors,
pumps, valves, cylinders, and actuators are swifter and more effective when
performing heavy-duty tasks. As a result, hydraulic machinery or parts are a
great and dependable choice for many industrial tasks. According to the
application in the relevant industry, companies such as Bosch Rexroth, Daikin,
Eaton, and Parker Hannifin provide hydraulically powered equipment that include
motors, pumps, cylinders, valves, steering, seals, press machines, lifts, and
cylinders. The use of atomization by businesses for efficient operation has led
to a constant increase in the demand for modern hydraulic equipment.
Key market players in the global hydraulic
equipment market include:
- Bosch Rexroth AG (ROBERT BOSCH GMBH)
- Parker-Hannifin Corporation
- Hydac International Gmbh
- Danfoss AS
- SMC Corporation
- Festo SE (Festo Beteiligungen GmbH & Co. KG)
- Norgren Limited (IMI PLC)
- Bucher Hydraulics (Bucher Industries AG)
- HAWE
- Linde Hydraulics GmbH & Co.
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“The introduction of hydraulics equipment in the
construction sector has greatly increased productivity and enabled the
completion of more work in less time. The equipment could move in a variety of
directions and be precisely controlled due to the hydraulics field of study. In
the future, the use of hydraulic equipment will become even more crucial
because hydraulic power is an essential component of the current building
sector. Thus, the global hydraulic equipment market is expected to grow during
the forecast period,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
Hydraulic Equipment Market–Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2028, By Type (Pumps, Valves, Cylinders, Motors, Filters
& Accumulators, Transmission), By End-User Industry (Construction,
Agriculture, Material Handling, Aerospace & Defense, Machine Tools, Oil
& Gas, Hydraulic Press, Plastics, Automotive), By Region has evaluated
the future growth potential of the global hydraulic equipment market and
provides statistics and information on market structure, size, share, and
future growth. The report intends to provide cutting-edge market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global hydraulic equipment market.
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