Hydraulics Industry worth $50.5 billion by 2028
The report "Hydraulics Market by Components (Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions), Type (Mobile Hydraulics, Industrial Hydraulics), End User (Construction, Agriculture, Material Handling), Sensors & Region - Global Forecast to 2028" The hydraulics market is expected to grow from USD 42.5 billion in 2023 to USD 50.5 billion by 2028, at a CAGR of 3.5% during the forecast period. The surge in construction projects, the growing need for advanced agricultural machinery, and the rising demand for material-handling equipment are some of the factors driving the hydraulics market. In addition, advancements in smart hydraulic equipment and continual research and technological progress in hydraulic cylinders create opportunities for the growth of the hydraulic market.
Browse 168 market data Tables and 57 Figures spread through 218 Pages and in-depth TOC on "Hydraulics Market by Components (Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions), Type (Mobile Hydraulics, Industrial Hydraulics), End User (Construction, Agriculture, Material Handling), Sensors & Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/hydraulics-market-209607944.html
Cylinders segment to hold the largest size of the hydraulics market during the forecast period.
The cylinders segment is expected to account for the largest size of the hydraulics market throughout the forecast period. Hydraulic cylinders are integral components within the construction industry, employed in diverse equipment such as backhoes, excavators, trenchers, road construction planers, grinders, machines for concrete or asphalt laying, concrete cutting saws, dozers, motor graders, dumpers, and skid steers. They showcase exceptional durability, enduring corrosive and abrasive conditions, extreme temperatures, and fluctuating weather while maintaining continuous operation for extended durations. These advantageous qualities have made hydraulic cylinders a preferred choice in the construction sector.
Mobile hydraulics segment is expected to lead the hydraulics market during the forecast period.
The mobile hydraulic segment is expected to lead the market during the forecast period. Mobile hydraulic cylinders are predominantly utilized in machinery that operates in non-fixed positions. The rising demand for hydraulic power in distant and challenging locations necessitates the incorporation of hydraulic cylinders into mobile equipment. As hydraulic technology progresses, the utilization of mobile hydraulics has transformed the lifting and transportation of hefty objects or machinery, simplifying these tasks. The heightened stability offered by mobile hydraulics during the lifting of substantial loads has positioned mobile hydraulic cylinders as the favored option for end-users.
Construction industry to hold the largest size of the hydraulics market during the forecast period.
The construction industry holds the largest size of the hydraulics market during the forecast period. The ongoing expansion of populations in emerging nations like China and India is a significant driving force behind the construction industry's growth. The increased utilization of hydraulics in construction and mobile equipment is a key supporting factor for market expansion. Hydraulic applications in construction equipment encompass a wide array, including hitches, excavators, skid-steer loaders, backhoes, wheel loaders, motor graders, dumper trucks, dozers, trenchers, road rollers, and other heavy-loading equipment characterized by high-cycle ratings and precise movement capabilities.
Asia Pacific is expected to dominate the hydraulics market during the forecast period.
The Asia Pacific region will dominate the hydraulics market throughout the forecast period. The surge in the hydraulics market across the Asia Pacific region is driven by the rapid industrialization and infrastructural advancements taking place. Hydraulic equipment holds a pivotal role in construction and agricultural machinery. Given the high demand for both sectors in Asia Pacific, the hydraulics market is forecasted to grow significantly in the forthcoming years. This rise in demand for hydraulics in the region is propelled by the rapid expansion of the process manufacturing sector, public utilities, and general construction, particularly in countries like China and India, as they continue their trajectory of industrialization and urban development.
Key players
Major companies operating in the hydraulics market include Enerpac Tool Group (US), Bosch Rexroth AG (Germany), Danfoss (Denmark), Hydac International GmbH (Germany), Kawasaki Heavy Industries, Ltd. (Japan), KYB Corporation (Japan), SMC Corporation (Japan) Parker-Hannifin Corporation (US), Wipro Enterprises (India), Caterpillar (US).
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Hydraulics Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
