Hydraulic equipment is an important component of any machining equipment and is responsible for precision of machine and its efficiency. Any small defects can hamper the performance of entire system. The key advantages of hydraulic systems are accuracy of control, constant force and torque, multiplication of force, and are safety. The key hydraulic equipment are pumps, motors, and valves that are used in power generation, control, and transmission.
As per the reports published by Market Research Future 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.
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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.
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.
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.
Global Hydraulic Equipment Market Segmentation:
According to the reports published by Market Research Future, the global hydraulic equipment market can be segmented based on application and component.
By Component
- Pumps
- Motors
- Valves
- Cylinder
- Accessories
By Application
- Industrial
- Mobile
By Region
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
Regional Analysis
The global hydraulic equipment market has been geographically segmented into key regions as per the reports published by Market Research Future.
The key regions mostly include North America, Asia-Pacific, the Middle East & Africa, South America, and Europe. Asia-Pacific represents the maximum share in the hydraulic equipment market owing to the increasing investments in construction activities in the developing nations, including China and India. China is estimated to contribute towards the largest share of the regional market in the APAC.
On the basis of region, Asia-Pacific held the largest market share of the global hydraulic equipment market in 2018. It is estimated Asia-Pacific would be the fastest growing market during the forecast period, mainly due to the rising investment in construction activities in the emerging nations including India and China.
The Middle East & Africa and South America are the key regions for hydraulic equipment market. Saudi Arabia and Brazil are the two countries that are expected to dominate the regions, respectively. The market is the Middle East & Africa is attributed to the rising use of hydraulic equipment in excavators, loaders, vacuum trucks, dump trucks, cranes, tractors, and other vehicles in industrial and construction sectors.
The market in North America is expected to be the second-largest owing to an increase in demand for modernization of existing infrastructure. The US will dominate the North America market during the forecast period.
The market in Europe is also expected to grow at a significant rate owing to the rising requirement of hydraulic equipment in industries. Germany is expected to dominate the European hydraulic equipment market.
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).
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