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 global hydraulic equipment market is set to witness significant growth due to increasing manufacturing activities and the growth of the material handling industry. The hydraulic equipment is used in steel and paper industries, and power plants owing to their high reliability and low noise. 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.

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Segmentation

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.

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Regional Analysis

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.

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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