The "Fluid Power Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report by IMARC Group offers a detailed analysis of the industry, including fluid power equipment market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global fluid power equipment market size reached US$ 45.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 69.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.26% during 2023-2028.
What are Fluid Power Equipment?
Fluid power represents the use of liquid or gas to generate a considerable amount of power for moving a load and performing numerous tasks. It contains several components, including valves, fittings, sensors, seals, pumps, cylinders, hoses, gauges, filters, reservoirs, etc. Fluid power is used for boring new underground mining tunnels and lifting and stacking large sheets of glass. As it also controls direction, speed, force, and torque, fluid power equipment finds extensive applications in the packaging, mining, marine, medical, construction, aerospace, automation, robotics, and entertainment sectors.
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What Are The Growth Prospects And Trends In The Fluid Power Equipment Industry?
The widespread adoption of these prodcts in wastewater treatment is among the key elements stimulating the fluid power equipment market. Moreover, the growing investments to introduce energy-efficient solutions and reduce greenhouse gas (GHG) emissions and the escalating demand for energy imports across various countries are positively influencing the market growth. Besides this, the inflating focus on technological advancements for manufacturing and developing fluid power equipment is also propelling the global market. Furthermore, the rising utilization of smart valves to gain better control over operation and safety in Industry 4.0 is acting as another significant growth-inducing factor. Apart from this, the introduction of numerous user-friendly fluid products is offering lucrative growth opportunities to end-users and investors. Additionally, the increasing automation in factories to drive precision, consistency, and greater operational efficiency is further fueling the market growth. In addition to this, extensive research and development (RD) activities by key market players to increase their overall sales and profitability, the rising production volume of vehicles, growing urbanization, and the inflating number of multinational outlets are anticipated to fuel the fluid power equipment market over the forecasted period.
What Is Included In Market Segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Hydraulics
- Pneumatics
- Others
Breakup by Component:
- Pumps
- Motors
- Valves
- Cylinder
- Accumulators and Filters
- Others
Breakup by End User:
- Agricultural
- Aerospace
- Automotive
- Construction
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who Are The Key Players Operating In The Industry?
The report covers the major market players including:
- Bosch Rexroth AG (Robert Bosch GmbH)
- Bucher Industries AG
- Daikin Industries Ltd.
- Eaton Corporation PLC
- Fluid Power Equipment Inc.
- HAWE Hydraulik SE
- HYDAC International GmbH
- Hydraforce Inc.
- Kawasaki Heavy Industries Ltd.
- Nachi-Fujikoshi Corp.
- Parker-Hannifin Corporation
- and Sparrows Offshore Group Limited
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