The hydraulic equipment market is expected to grow significantly from 2021 to 2030, ascribed to the surge in material handling equipment demand and increased adoption of hydraulic equipment in numerous industries. As a result, mobile hydraulics equipment holds a larger share of the market. Furthermore, it is expected to follow the same trend in the near future, attributed to increased equipment requirements in remote and difficult terrain.

Under the end user segment, the agricultural category is expected to witness the fastest growth in the hydraulic equipment market. It is due to the rapid adoption of hydraulics in the agriculture machinery, attributed to numerous benefits of hydraulics equipment, specifically in plowing. Moreover, using hydraulic equipment can result in improved planting and harvesting, facilitated by the easy operations of agricultural machines.

Browse detailed report - Hydraulic Equipment Market Analysis and Demand Forecast Report

Similarly, Eaton Corporation plc launched the Delta series motor in 2019, designed for turf care equipment traction. It enhanced the company's portfolio with the successful turf care product, resulting in an improved customer base. The launches of such a new product have become a trend. Moreover, Danfoss SA acquired the hydraulics business of Eaton Corporation plc of value $3.3 billion in January 2020. It resulted in an improved Danfoss SA portfolio and enhanced customer and business support.

Therefore, the rise in construction activities due to increased investments in infrastructure development projects in developing countries propels the market.