Hydraulic Equipment Market Size, Share, Growth Analysis, By Component Type(Motors, Pumps, Cylinders, Valves), By Product Type(Mobile Hydraulics and Industrial Hydraulics), By End user(Aerospace, Agriculture, Automotive, Construction), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20I2193 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 100 |Figures: 76

Hydraulic Equipment Market Insights

Hydraulic Equipment Market size was valued at USD 35.61 billion in 2021 and is poised to grow from USD 36.16 billion in 2022 to USD 40.92 billion by 2030, growing at a CAGR of 1.4% during the forecast period (2023-2030).

The global market is experiencing significant growth due to various factors such as the increasing demand for material handling equipment, a surge in building activity, a rising need for advanced agricultural machinery, and the widespread adoption of hydraulic equipment across diverse industries. The market is experiencing significant growth due to increasing demands for material handling equipment, a rise in building activity, growing need for advanced agricultural machinery, and widespread adoption of hydraulic equipment across various sectors. The utilization of pressurized fluids to generate, regulate, and transfer power is driving the demand for material handling equipment. Hydraulic systems employ fluid motors to produce torque for rotational motion and fluid cylinders to generate force for linear motion. The expansion of the construction industry is also contributing to the market's growth, as hydraulic cylinders are extensively used in construction equipment and mobile machinery. Skid steer loaders, excavators, backhoes, hitches, motor graders, wheel loaders, dumper trucks, road rollers, dozers, and trenchers, among other heavy-duty construction machinery, all require reliable hydraulic cylinders to ensure accurate movement and high-cycle rating.

US Hydraulic Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 35.61 billion

Largest Segment

Construction

Fastest Growth

Construction

Growth Rate

1.4% CAGR

Global Hydraulic Equipment Market ($ Bn)
Country Share for North America Region (%)

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Hydraulic Equipment Market Segmental Analysis

Global Hydraulic Equipment Market is segmented on the basis of component type, product type, by end user, and region. By component type, the market is segmented into Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions, and Others. By product type, the market is segmented into Mobile Hydraulics and Industrial Hydraulics. By end user, the market is segmented Aerospace, Agriculture, Automotive, Construction, Marine, Material Handling, Metal & Machinery Manufacturing, Mining, Oil & Gas, and Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Hydraulic Equipment Market Analysis By Component Type

The market is categorized into various components, including Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions, and Others. Among these segments, the Motor category holds the largest market share. Although hydraulic motors can perform similar tasks to electric motors, they are particularly well-suited for heavy machinery applications. In situations involving demanding tasks and substantial loads, hydraulic motors tend to exhibit superior efficiency compared to electric motors.

On the other hand, the global demand for hydraulic pumps is on the rise, driven by the increasing need for wheel loaders and other related applications. Several factors, including the global surge in construction activities, the growing sales of automobiles, and the expanding utilization in the mining sector propel the demand for hydraulic pumps. Additionally, government regulations to reduce CO2 emissions and the rising public awareness about energy conservation contribute significantly to the increased need for hydraulic pumps.

Hydraulic Equipment Market Analysis By End User

The market is divided into various end-user segments, including Aerospace, Agriculture, Automotive, Construction, Marine, Material Handling, Metal & Machinery Manufacturing, Mining, Oil & Gas, and Others. Among these segments, the Construction category dominated the market share. The integration of hydraulics into the construction sector has revolutionized productivity by enabling faster completion of tasks. With the application of hydraulic science, equipment now boasts enhanced precision and a wider range of motion. Hydraulic power has become an essential component of the contemporary construction industry

On the other hand, the agriculture segment is considered to be the fastest growing segment. In the agricultural sector, modern equipment plays a crucial role in managing livestock and cultivating crops. The agricultural industry relies on these essential parts and hydraulic systems to ensure efficient operations and maintain high productivity levels. The increasing demand for advanced agricultural equipment equipped with smart hydraulics stems from their exceptional adaptability, reliability, and high-performance capabilities.

Global Hydraulic Equipment Market By Geography, 2023 (%)

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Hydraulic Equipment Market Regional Insights

North America emerged as the leader, holding the largest market share. The increased demand for wheel loaders in the region has led to a significant surge in infrastructure investments, particularly under the Public-Private Partnership model, as cities across the nation are focusing on developing subways and other urban transit networks. This development is anticipated to have an immediate and positive impact on the expansion of the hydraulics market in North America.

On the other hand, Asia Pacific region is considered to be the fastest growing region due to high demand of agricultural, forestry, fishery machineries and equipments. Also, countries like India and China shows growth in construction and infrastructure activities leading to high demand in hydraulic equipments.

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Hydraulic Equipment Market Dynamics

Hydraulic Equipment Market Drivers

Adoption of Mechanical Agriculture Equipments

  • Agriculture has been a crucial and essential industry worldwide for centuries. In the past, various tasks like ploughing, sowing, fertilizing, pesticide spraying, harvesting, and other processes were manually performed. However, with the rise of industrialization and the introduction of innovative machinery, farmers have shifted towards using agricultural equipment. Advanced tools, such as automated tractors or harvesters, are now employed in agricultural activities to enhance efficiency and reduce high labor expenses.

Increase in Industrialization

  • The increasing level of industrialization in developing countries has generated a growing demand for hydraulic equipment. Industries such as mining, construction, agriculture, packaging, and material handling require robust equipment capable of handling heavy-duty operations. Hydraulic motors, pumps, valves, cylinders, and actuators offer the advantage of carrying out such tasks with higher speed and efficiency. Consequently, hydraulic equipment or components have become a preferred and dependable choice for various industrial functions.

Hydraulic Equipment Market Restraints

Electro-mechanical systems replaced with Hydraulic systems

  • Electro-mechanical systems are rapidly gaining ground as they replace hydraulic equipment, mainly due to the numerous advantages they offer over their hydraulic counterparts. One significant advantage of electro-mechanical-operated equipment is its cost-effectiveness, especially when considering the need for ancillary hydraulic components. Moreover, electro-mechanical systems require less maintenance and repair, as they have a lower risk of fluid leakage.
  • Another advantage of electro-mechanical systems is their efficient power usage. They only consume power while moving the load, whereas hydraulic systems need to maintain pressure levels in operating fluids to hold the load's position, leading to potential delays in responding to operator commands. These factors contribute to the increasing preference for electro-mechanical systems, acting as a limiting factor in the hydraulic equipment market.

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Hydraulic Equipment Market Competitive Landscape

The global hydraulic equipment market is primarily driven by the increased adoption of mechanized agricultural activities and the ongoing trend of industrialization. However, the growth of the hydraulic equipment market has been hindered by the growing popularity of electro-mechanical systems as a replacement for hydraulic equipment. On the bright side, there is a rising awareness regarding the use of energy-efficient hydraulic equipment, which is expected to fuel market growth. Additionally, various developmental strategies adopted by companies to solidify their market presence are also anticipated to contribute to the growth of the hydraulic equipment market during the forecast period.

Hydraulic Equipment Market Top Player’s Company Profiles

  • Kawasaki (Japan)
  • HAWE (Germany)
  • Hydac (Germany)
  • Moog, Inc. (U.S)
  • Bucker Hydraulics (Germany)
  • Daikin (Japan)
  • Concentric (Sweden)
  • Casappa (Italy)
  • Nachi – Fujikoshi (Japan)
  • Dantal Hydraulics (India)
  • Fluitronics GmbH (Germany)
  • Linde Hydraulics (Germany)
  • Siemens AG(Germany)
  • Wipro Limited(India)
  • Danfoss A/S(Denmark)
  • Emerson Electric Co.(US)
  • Komatsu Ltd(Japan)

Hydraulic Equipment Market Recent Developments

  • In July 2022, Bosch made an investment in BRUSA HyPower to enhance its eLION product portfolio, focusing on the electrification of off-highway vehicles. This strategic move reflects Bosch's commitment to expanding its offerings in this domain. Furthermore, such strategic acquisitions and investments in emerging companies are likely to become a primary focus for major companies in the coming years as they seek to strengthen their positions and tap into new growth opportunities.
  • In August 2022, HAWE introduced the HICON mini hydraulic power pack, specially designed for application in recreational boats and various other contexts. One of its standout features is its waterproof design, providing resistance against splash water and temporary immersion during operation. This characteristic makes it highly suitable for diverse applications beyond recreational boating.

Hydraulic Equipment Key Market Trends

  • Expansion of Construction segment: Hydraulic equipment operates through the use of pressurized fluid to perform various tasks. This pressure remains undiminished as it acts upon every part of the holding vessel, generating force and power. With advancements in technology, hydraulics has become capable of achieving highly precise motions, driving the optimization of construction processes. Incorporating hydraulics into the construction industry has revolutionized productivity by allowing more work to be completed in less time. The science of hydraulics enables equipment to achieve a wide range of motion and be controlled with exceptional precision. As a result, hydraulic power has become indispensable in modern construction, and ongoing technological advancements will further elevate the importance of hydraulic equipment in the future.One of the key strengths of hydraulic equipment lies in its ability to withstand and transfer heavy loads. Unlike systems relying heavily on mechanical components, hydraulic equipment has fewer moving and load-bearing parts. The hydraulic fluid, motors, and pumps play significant roles in handling most functional aspects. Utilizing smart valves, pumps, and other components ensures even more efficient operation and precise control of hydraulic equipment, leading to process automation.

Hydraulic Equipment Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Hydraulic Equipment Market analysis, the global market is experiencing robust growth and is expected to continue its upward trajectory in the coming years. The market is being driven by several factors, including the increasing adoption of hydraulic equipments and machinery worldwide, and the growing demand for such machineries and equipments. With the expanding market and a strong push towards construction and development, the global market is poised for significant expansion and opportunities for industry players.

Report Metric Details
Market size value in 2023 USD 35.61 billion
Market size value in 2031 USD 40.92 billion
Growth Rate 1.4%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component Type
    • Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions, and Others
  • Product Type
    • Mobile Hydraulics and Industrial Hydraulics
  • End user
    • Aerospace, Agriculture, Automotive, Construction, Marine, Material Handling, Metal & Machinery Manufacturing, Mining, Oil & Gas, and Others.
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)
Companies covered
  • Kawasaki (Japan)
  • HAWE (Germany)
  • Hydac (Germany)
  • Moog, Inc. (U.S)
  • Bucker Hydraulics (Germany)
  • Daikin (Japan)
  • Concentric (Sweden)
  • Casappa (Italy)
  • Nachi – Fujikoshi (Japan)
  • Dantal Hydraulics (India)
  • Fluitronics GmbH (Germany)
  • Linde Hydraulics (Germany)
  • Siemens AG(Germany)
  • Wipro Limited(India)
  • Danfoss A/S(Denmark)
  • Emerson Electric Co.(US)
  • Komatsu Ltd(Japan)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Hydraulic Equipment Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Hydraulic Equipment Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Hydraulic 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 Hydraulic 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.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hydraulic Equipment Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Hydraulic 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.

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FAQs

Hydraulic Equipment Market size was valued at USD 35.61 billion in 2021 and is poised to grow from USD 36.16 billion in 2022 to USD 40.92 billion by 2030, growing at a CAGR of 1.4% during the forecast period (2023-2030).

The hydraulic equipment market is primarily driven by the increased adoption of mechanized agricultural activities and the ongoing trend of industrialization. However, the growth of the hydraulic equipment market has been hindered by the growing popularity of electro-mechanical systems as a replacement for hydraulic equipment. On the bright side, there is a rising awareness regarding the use of energy-efficient hydraulic equipment, which is expected to fuel market growth. Additionally, various developmental strategies adopted by companies to solidify their market presence are also anticipated to contribute to the growth of the hydraulic equipment market during the forecast period. ' Bosch Rexroth (Germany)', ' Eaton Corporation Plc (Ireland)', ' Parker Hannifin (U.S)', 'Kawasaki (Japan)', 'HAWE (Germany)', 'Hydac (Germany)', 'Moog, Inc. (U.S)', 'Bucker Hydraulics (Germany)', 'Daikin (Japan)', 'Concentric (Sweden)', 'Casappa (Italy)', 'Nachi – Fujikoshi (Japan)', 'Dantal Hydraulics (India)', 'Fluitronics GmbH (Germany)', 'Linde Hydraulics (Germany)', 'Siemens AG(Germany)', 'Wipro Limited(India)', 'Danfoss A/S(Denmark)', 'Emerson Electric Co.(US)', 'Komatsu Ltd(Japan)'

Agriculture has been a crucial and essential industry worldwide for centuries. In the past, various tasks like ploughing, sowing, fertilizing, pesticide spraying, harvesting, and other processes were manually performed. However, with the rise of industrialization and the introduction of innovative machinery, farmers have shifted towards using agricultural equipment. Advanced tools, such as automated tractors or harvesters, are now employed in agricultural activities to enhance efficiency and reduce high labor expenses.

Expansion of Construction segment: Hydraulic equipment operates through the use of pressurized fluid to perform various tasks. This pressure remains undiminished as it acts upon every part of the holding vessel, generating force and power. With advancements in technology, hydraulics has become capable of achieving highly precise motions, driving the optimization of construction processes. Incorporating hydraulics into the construction industry has revolutionized productivity by allowing more work to be completed in less time. The science of hydraulics enables equipment to achieve a wide range of motion and be controlled with exceptional precision. As a result, hydraulic power has become indispensable in modern construction, and ongoing technological advancements will further elevate the importance of hydraulic equipment in the future.One of the key strengths of hydraulic equipment lies in its ability to withstand and transfer heavy loads. Unlike systems relying heavily on mechanical components, hydraulic equipment has fewer moving and load-bearing parts. The hydraulic fluid, motors, and pumps play significant roles in handling most functional aspects. Utilizing smart valves, pumps, and other components ensures even more efficient operation and precise control of hydraulic equipment, leading to process automation.

North America emerged as the leader, holding the largest market share. The increased demand for wheel loaders in the region has led to a significant surge in infrastructure investments, particularly under the Public-Private Partnership model, as cities across the nation are focusing on developing subways and other urban transit networks. This development is anticipated to have an immediate and positive impact on the expansion of the hydraulics market in North America.

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