The global hydraulic equipment market is expected to register a growth rate of 4.02% CAGR during the forecast period. Hydraulic equipment is used in manufacturing sector because a large amount of power can be transferred via small tubes and flexible hoses, resulting in high demand of hydraulic equipment. On the other hand, the high cost and operational complexity of the hydraulic equipment are the major restraints of the global hydraulic equipment market.
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.
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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.
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.
Fluid power systems offer effective and simple control of speed, torque, direction, and force using control valves. Thus, these systems do not require electrical power, eliminating the risk of sparks, explosions, electrical shock, and fire. Moreover, hydraulic equipment can transmit power in a much smaller space as compared to mechanical or electrical systems, especially in case of extremely high force or torque.
Hydraulic Equipment Market Segmental Analysis
The global hydraulic equipment market has been segmented on the basis of component, application, and region.
The hydraulic equipment market has been segmented based on component into pumps, motors, valves, cylinder, and accessories. The valves sub-segment is expected to dominate the market since these valves can prevent the backflow of liquid and provides flow resistance. Pumps are expected to be the fastest growing sub-segment due to high efficiency of the axial piston pumps. The hydraulic equipment market has been segmented based on application into industrial and mobile. The mobile sub-segment led the market in due to the large-scale use of fluid power equipment in agriculture, mining, and construction activities. The mobile sub-segment is expected to be the fastest growing segment during the forecast period.
On the basis of region, the global hydraulic equipment market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
The growth of hydraulic equipment in Asia-Pacific is driven by the growing use of these equipment in manufacturing and automotive industries with benefits including, high efficiency, and their compatibility with varied fluid types. Moreover, a large number of market players are investing in the development of hydraulic equipment because of their huge demand in mobile hydraulic applications. Such factors are likely to raise the demand of hydraulic equipment, globally.
The rising use of hydraulic equipment such as pumps, motors, and valves in high pressure applications in industries, such as construction, oil & gas, and mining, are expected to drive the hydraulic equipment market. For instance, in February 2019, Kawasaki Heavy Industries Ltd. (Japan) completed a new plant in India for manufacturing hydraulic equipment for construction machinery in order to meet the rising demand of local infrastructure in India.
Browse Summary of Global Hydraulic Equipment Industry Report at: https://www.marketresearchfuture.com/reports/hydraulic-equipment-market-8066
List Of Tables
Table 1 List Of Assumptions
Table 2 Global Hydraulic Equipment Market, By Component, 2019–2024, (USD Million)
Table 3 Global Hydraulic Equipment Market, By Application, 2019–2024, (USD Million)
Table 4 Global Hydraulic Equipment Market, By Region, 2019–2024, (USD Million)
Table 5 North America: Hydraulic Equipment Market, By Country, 2019–2024, (USD Million)
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top-Down & Bottom-Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Hydraulic Equipment Market Share, By Component, 2017 (%)
Figure 9 Global Hydraulic Equipment Market, By Component, 2019–2024 (USD Million)
Figure 10 Global Hydraulic Equipment Market Share, By Application, 2017 (%)
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