COVID-19 Pandemic Impact on Hydraulic Equipment Market 2020 Global Leading Players, Future Growth, Business Prospects, Forthcoming Developments and Updates by Forecast 2024

COVID-19 Pandemic Impact on Hydraulic Equipment Market 2020 Global Leading Players, Future Growth, Business Prospects, Forthcoming Developments and Updates by Forecast 2024

Hydraulic Equipment Market
Global ” Hydraulic Equipment Market” trend analysis report 2020 aims to provide in-depth information about the Hydraulic Equipment industry with market overview, key trends, business plans, and future prospects of the industry. It involves the current market status with some changing trends that can affect the Hydraulic Equipment market growth rate. It also comprehends market new product analysis, financial overview, strategies, and Hydraulic Equipment marketing trends.

Hydraulic Equipment Market Overview:

The global market report on the Hydraulic Equipment Market reveals a possibility of the market crossing USD 54.6 billion by 2024. During the forecast period covering 2019 to 2024, the market has a chance to record growth by 4.02%. The global market for hydraulic equipment is expected to get tailwinds from the rising investment in the construction sector of the developing regions, demand for advanced technologies, easy incorporation of advanced tools, investment in research and development projects, growing demand for such machines in the mining sector, booming water & wastewater infrastructure, and others.

However, these tools are often costly, owing to which companies hesitate to invest in acquiring such machines.

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Segmental Analysis of Global Hydraulic Equipment Market:

The global hydraulic equipment market can be studied on the basis of segmentation that includes component and application. This segmentation provides better opportunities regarding insights as data in these segments were mined expert analysts who back it further with scientific methods and parameters.

By component, the understanding of the global hydraulic equipment market includes segments like motors, pumps, cylinders, valves, and accessories. The valves segment has the upper hand in the hydraulic equipment market and it will remain so during the forecast period.

By application, the report on the hydraulic equipment market includes a study of industrial and mobile. The mobile sub-segment has the chance to generate maximum revenue in the coming years.    

Regional Analysis:

The global Hydraulic Equipment Industry has been segmented into regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.

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 hydraulic equipment market would be mainly driven by the growing focus on mobile applications. Rising manufacturing activities in South-East Asian countries is expected to add to the market growth during the forecast period.

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.

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. 

Competitive Landscape:

Eaton Corporation Plc (Ireland), Parker Hannifin (US), Fluitronics GmbH (Germany), Kawasaki (Japan), HAWE (Germany), Bosch Rexroth (Germany), Moog, Inc. (US), Hydac (Germany), Concentric (Sweden), Bucker Hydraulics (Germany), Daikin (Japan), Nachi-Fujikoshi (Japan), Dantal Hydraulics (India), Casappa (Italy), and Linde Hydraulics (Germany) are companies that have spent crucial times in forming effective strategies for the market that will boost the global market hydraulic equipment outcome.

Intended Audience:

The intended audience of global hydraulic equipment market are:

  • Hydraulic Equipment manufacturers and distributors
  • Power generation companies
  • Environmental research institutes
  • Manufacturing industry
  • Construction sector
  • Automotive
  • Government & research organizations
  • Consulting companies in power sector
  • Investors and shareholders

Industry News:

In July 2020, Hitachi Construction Machinery (HCM) announced that it has plans to trial autonomous ultra-large hydraulic excavators. The process will take place at an Australia mine site and it would be a part of verification tests.

In August 2020, the Bazetta Fire Department declared that it received $39,047 to ensure proper replacement of its hydraulic extrication equipment using the Assistance to Firefighters Grant. This money gets awarded via the Department of Homeland Security and, as per the rule, requires a 5%t local match of less than $2,000 when the total budget is $41,000.

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