USD 41.49 billion
Report ID: SQSG20E2002 | Region: Global | Published Date: November, 2022 | Pages: 165
Global fluid power equipment market was valued to be USD 41.49 billion in 2021, and it is anticipated to reach USD 65.28 billion by 2028 at a CAGR of 5.93% over the forecast period (2022-2028).
Fluid power equipment is described as industrial equipment or components that employ fluids (liquid or gas) to carry power from one location to another. The two main ways used to operate these kinds of tools are hydraulic and pneumatic. Pneumatic systems employ gas, typically compressed air, to deliver power while hydraulic systems use fluids like oil. Equipment using liquid power has few advantages over mechanical and electrical equipment. As opposed to fluid power systems, which may easily generate this motion using hydraulic or pneumatic cylinders, mechanical devices that transform rotational motion into linear motion are propelled by electrical and mechanical means.
The development of various user-friendly fluid products, rising adoption of worldwide motor efficiency standards, and increasing factory automation are all driving the market's expansion. In addition, the industrial outlook is being boosted by rising vehicle production volumes, increased urbanization, and an increase in the number of multinational firms, supply chains, and stores. Furthermore, expanding outlets and local supply chains, as well as booming applications from end-use industries including automotive, oil & gas, medical, and agricultural, are all advancing the industry.
Global Market Size
USD 41.49 billion
To get more reports on the above market click here to Buy The Report
The Global Fluid Power Equipment Market is segmented based on type, application, equipment and region. Based on the type, it is categorized into Hydraulics, and Pneumatics. Based on the application, it is categorized into Construction, Automotive, Oil & Gas, Chemicals, Aerospace & Defense, Metals & Mining, and Medical Equipment. Based on Equipment, it is categorized into Pumps, Motors, Valves, Cylinders, Filters, and Actuators. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Analysis by Application
On the basis of application, the construction segment and the metals & mining segment currently dominate the global fluid power equipment market, due to the increased utility and consumption of fuel power equipment in these categories. Many different kinds of earthmoving equipment, material-handling equipment, and specialist fastening and finishing tools are used in the sector. Backhoes for excavation, cranes for moving, lifting, and positioning objects, vibrators for consolidating concrete after it has been laid, and nail-driving tools are a few examples of common applications for fluid power equipment. Population expansion is still a major force behind development in the construction industry. The maintenance and replacement of outdated infrastructure presents a chance for adaptable machinery, especially excavator attachments. Rapid urbanization is driving up demand for smaller, more portable machinery, which is expanding the market. Additionally, fluid power equipment is used by mining industries both above and below ground. The enormous shovels used in coal strip mining operations are spectacular examples of applications in the mining sector. Additionally, due to increased hydrocarbon exploration and production operations worldwide, the oil and gas segment is expected to have significant expansion.
To get detailed analysis on other segments, Request For Sample Report
Based on the region, the Asia Pacific region currently dominates the global fluid power equipment market with respect to market share and it is predicted to have the highest share over the forecast period. This is as a result of the region's rapidly expanding population and rising energy consumption.
North America is also predicted to have a significant market share because of the increased need for modernization of existing infrastructure in nations such as the United States and Canada.
Additionally, Europe is anticipated to expand significantly due to the increased need for efficient equipment across numerous industry sectors, such as automotive and aerospace & defense, in several regional nations, including Germany and the United Kingdom.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Companies are constantly investing in strategic partnerships and product development in order to increase their market share. In order to enhance their presence on the worldwide market, various companies are also concentrating on implementing methods like collaborations. Additionally, they have been concentrating on tactics such as inorganic and organic growth advancements, including contracts and investments.
Top Players Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global fluid power equipment market is currently led by countries in the Asia Pacific region, as a result of the region's rapidly expanding population and rising energy consumption. Along with this, the construction segment and the metals & mining segment is expected to dominate the global fluid power equipment market, due to the increased utility and consumption of fuel power equipment in these categories.
|Market size value in 2021||USD 41.49 billion|
|Market size value in 2028||USD 65.28 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Fluid Power Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fluid Power Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Fluid Power Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Fluid Power Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQSG20E2002