Hydraulic Equipment Market Growing Trade Among Emerging Economies Opening New Business-Opportunities by 2027

Hydraulic equipment market drives growth by the industrial segment, with rise in awareness toward the usage of energy-efficient equipment.

PORTLAND, OR, UNITES STATES, January 11, 2022 /EINPresswire.com/ -- Hydraulic equipment are operated by using liquid fluid as working medium. Hydraulic liquid is pumped into the machine, and is pressurized considering the resistance by cylinders and motors. The valves control the flow of liquids, and the liquid is further distributed through pipes, hoses, or tubes. These equipment are simple to operate, safe, and reliable irrespective of variable speed. Rise in adoption of mechanized agricultural activities and increase in industrialization are the major driving factors of the global hydraulic equipment market.

Major motivators of the market-

Adoption of mechanized agricultural equipment and growing industrialization drive the global hydraulic equipment market. However, replacement of hydraulic equipment with electro-mechanical systems hampers the market growth. On the contrary, growing need for energy-efficient hydraulic equipment is expected to create lucrative opportunities in the near future.

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COVID-19 Scenario-

The demand for hydraulic equipment has been decreased by the end-use sectors including mining and construction, due to lockdown amid the COVID-19 pandemic.
The equipment manufacturing firms have curtailed the production procedures, owing to stringent measures by the government and dependency on migrant workers. In addition, the supply chain disruptions have resulted in a shortage of raw materials.
However, certain relaxations have been imposed on the restrictions for economic benefits. Owing to this, manufacturing firms have started production at a slower pace.

The industrial segment dominated the market-

By application, the industrial segment held the largest share in 2019, accounting for more than half of the global hydraulic equipment market. This is due to large scale of manufacturing activities. However, the mobile segment is projected to portray the highest CAGR of 4.1% during the forecast period, owing to rise in powerful and advanced equipment offered by the manufacturers in the market.

The motors segment to manifest highest CAGR through 2026-

By application, the motors segment is anticipated to register the highest CAGR of 4.7% during the forecast period. This is due to rise in manufacturing and usage of machinery operated by motors. On the other hand, the cylinders segment held the largest share in 2019, accounting for nearly one-third of the market. This is attributed to maximum cylindrically operated machinery.

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Asia-Pacific held the lion's share, North America to grow significantly throughout 2027-

The market across Asia-Pacific held the largest share in 2019, accounting for more than one-third of the market, owing to large manufacturing facilities and operations in major Asian countries. However, the global hydraulic equipment market across LAMEA is expected to register the fastest CAGR of 4.9% during the forecast period, owing to increase in usage of hydraulic operated machinery in this province. In addition, the North America region is anticipated to manifest a CAGR of 3.3% during the forecast period.

Major market players-

Parker-Hannifin Corp.
Robert Bosch GmbH
Siemens AG
Wipro Limited
Daikin Industries Ltd.
Danfoss A/S
Eaton
Emerson Electric Co.
Kawasaki Heavy Industries Ltd.
Komatsu Ltd.

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David Correa
Allied Analytics LLP
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