Hydraulic Equipment Market Research Report: By Equipment (Pumps and Motors, Cylinders, Valves, Transmissions, Accumulators, Filters), Type (Mobile Hydraulics, Industrial Hydraulics), End User (Aerospace, Agriculture, Automotive, Construction, Marine, Metal & Machinery Manufacturing, Mining, Oil & Gas) - Global Industry Analysis and Growth Forecast to 2030

Market Overview

The global hydraulic equipment market generated ~$37 billion in 2020, and it is projected to witness significant growth during the forecast period (2021–2030). The key factors responsible for this are the rising demand for material handling equipment and increasing adoption of hydraulic equipment in many industries. Further, the increase in underwater exploration activities is propelling the market for hydraulic equipment worldwide.

The impact of the COVID-19 pandemic on the hydraulic equipment market has been negative. Due to the implementation of lockdowns worldwide, the demand for hydraulic equipment decreased, while its production stopped, as many factories were closed.

Mobile Hydraulics To Hold Larger Share in Hydraulic Equipment Market

In 2020, the mobile hydraulics bifurcation held the larger share in the hydraulic equipment market, and it would show significant growth during the forecast period, based on type. This can be credited to the rising need for hydraulic power at remote and difficult terrain, or when lifting heavy loads, and advancements in the hydraulics technology.

Agricultural To Be Fastest-Growing Category during Forecast Period

In the upcoming years, the agricultural end-user category would display the fastest growth rate, owing to the rapid adoption of hydraulics in agriculture machinery because of its benefits, especially in plowing. Further, planting and harvesting can be improved by using hydraulic equipment, which is are easy to operate with agricultural machines.

Asia-Pacific (APAC) Dominates Market for Hydraulic Equipment

Globally, the largest market for hydraulic equipment was APAC in 2020, and it is predicted to witness a significant growth rate in the upcoming years. This can be ascribed to the rapid industrialization, rising construction activities, and increasing investments in infrastructure development in this region. Moreover, the advantages of hydraulic equipment over other systems, such as easy control and constant torque regardless of speed changes, are increasing the demand for it.

Organizations Focusing on Launching New Products

In the hydraulic equipment market, players’ main focus is on expanding their product portfolio in order to enhance their presence. For instance, in 2019, Eaton Corporation plc launched Delta series motor, designed mainly for traction drives for turf care equipment. This is helping the company increase its portfolio of turf care products and serve its customers in a better way. Thus, product launches have become a key trend in the market for hydraulic equipment.

Rising Construction Activities in Developing Countries Driving Market

The demand for construction equipment in developing countries is increasing, as high investments are being made for the construction of apartments, offices, and civic infrastructure. For instance, in 2020, the Government of India set a target to improve the infrastructure by constructing roads with a total sum of INR 15 lakh crore in the next two years. Further, the rapidly rising population has resulted in the increasing demand for housing, which has boosted the procurement of hydraulic equipment in emerging economies.

Rapid Industrialization in Developing Countries to Drive Market Growth

The increasing industrialization rate in developing countries has helped the hydraulic equipment market grow. Companies are opening their manufacturing bases in APAC countries, as they have found a well-established supply chain in the region. Further, the low cost of raw materials and labor and less-strict environmental regulations in the region are attracting manufacturers. This has led to the rapid establishment of factories, which is driving the demand for hydraulic equipment increased the region.

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Market Players Involved in Acquisitions and Product Launches to Gain Significant Position

In recent years, players in the industry have been involved in product launches and acquisitions to improve their position. Some of the major players operating in the global hydraulic equipment market are Daikin Industries Ltd., Danfoss SA, Eaton Corporation plc, Emerson Electric Co., Kawasaki Heavy Industries Ltd., Komatsu Ltd., Parker-Hannifin Corp., Bosch Rexroth AG, Siemens AG, and Wipro Enterprises Private Limited.

In March 2020, Bosch Rexroth AG launched two mid-pressure load sensing valve platforms, RM10-MPP (left) and RM15-MPP (right). These multi-application load sensing, directional control valves feature a flexible assembly, with no transition plate needed between the two distinct sizes.

In January 2020, Danfoss SA declared its acquisition of Eaton Corporation plc’s hydraulics business for $3.3 billion. Through this acquisition, Danfoss SA has broadened its hydraulic solutions portfolio and enhanced the support offered to its core business and customers.

Key Players in Global Hydraulic Equipment Market Include:

Market Size Breakdown by Segments

The hydraulic equipment market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.

Based on Equipment

• Pumps and Motors
• Cylinders
• Valves
• Transmissions
• Accumulators
• Filters

Based on Type

• Mobile Hydraulics
• Industrial Hydraulics

Based on End User

• Aerospace
• Agriculture
• Automotive
• Construction
• Marine
• Metal & Machinery Manufacturing
• Mining
• Oil & Gas  

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  •  Saudi Arabia
  • South Africa

Market Segment Analysis of Countries

• Further breakdown of 16 listed countries will be provided as per below segmentation:
  • By equipment
  • By type
  • By end user