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Global Hydraulic Equipment Market
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Global Hydraulic Equipment Market

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Global Hydraulic Equipment Market, By Product (Pumps, Motors, Valves, Cylinders, Others), By Application (Mobiles, Industries), By End-User (Mining and Construction, Packaging, Material Handling, Others (Petrochemical, Machine Tools, Automotive, Paper, Plastic, Rubber And Printing)),By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: August 2021
  • Report ID: BWC2151
  • Available Format: PDF
  • Page: 190

Report Overview

The global hydraulic equipment market is gaining significant traction because of the growing construction activities, coupled with the increasing focus on expanding the agricultural sector as well as mining activities.

Global Hydraulic Equipment Market - Industry Trends & Forecast Report 2027

The global hydraulic equipment market was worth USD 41.2 billion in 2020 and is further projected to reach USD 51.7 billion by the year 2027, growing at a CAGR of 3.4% in the forecast period. Due to growing construction activities as well as increasing agricultural and mining activities, the market is gaining significant traction. Furthermore, the surging demand for material handling equipment is also driving the growth of the global hydraulic equipment market.

Hydraulic Equipment Market

Source: BlueWeave Consulting

Global Hydraulic Equipment Market- Overview

Hydraulic equipment are the machines which use liquid fuel power to operate. Heavy construction vehicles, hydraulic lifts, shock absorbers, etc., are some of the widely used hydraulic equipment.These devices are mainly used in industries or areas that require high power densities or have unpredictable load requirements. Construction, automotive, agricultural, aerospace, meat processing machinery, automation system, paper mill machinery, oil exploration, etc. are some industries that extensively make use of hydraulics in various aspects of their operations. For instance, power transmission and braking are carried out by hydraulic equipment in automobiles and airplanes. Similarly, Bulldozers, cranes, and lifts are just some of the hydraulic equipment used in the construction, material handling, masonry, and roofing industries.

Global Hydraulic Equipment Market Forecast and Trends

Growth Drivers

Increasing Use of Hydraulic Equipment in Agriculture

Though the construction & mining industry is the leading end-user industry of the global hydraulic equipment market, the growing application of hydraulic equipment in the agriculture sector presents immense growth opportunities to the market. Global hydraulic equipment market growth is largely driven by the growth of mechanized agricultural activities. The high-tech agricultural machinery used in cropproduction requires hydraulic equipment. This equipment makes it easy to operate the agricultural machines as the operator does not have to make continuous corrections to cylinder positions.

Development and Emergence of Innovative andIntelligent Hydraulic Equipment

Due to the high competition in the market, the leading industry participants are extensively investing in R&D activities to improve and innovate their hydraulic equipment product range. The emergence of smart hydraulic equipment is likely to result in significant growth opportunities for the overall global market in the coming years. Smart hydraulic equipment offers IoT (the Internet of Things) compatibility, better machine performance, and precise control accuracy which improves the overall performance and operations. These equipment are also proving to be cost-saving, which will drive the market growth during the forecast period.

Restraints

High Cost of Hydraulic Equipment and Dominance of Substitute Equipment

One of the most important factors holding back the growth of the global hydraulic equipment market is the high cost of hydraulic equipment. The average cost of hydraulic lifts, for instance, ranges from USD 30,000 to USD 50,000.Such high price limits its adoption, especially in emerging countries like India and China that are extremely price sensitive. Additionally, overhead costs associated with this equipment, including maintenance costs, restrict demand.Moreover, the market growth of hydraulic equipment has been slowed by the replacement of hydraulic equipment with electro-mechanical systems.

Impact of COVID-19 on Global Hydraulic Equipment Market

The global hydraulic equipment sales have been adversely affected by the unprecedented COVID-19 pandemic.The reason for this is the lockdown imposed by the governments of several countries to combat the spread of the virus. As a result of the lockdown, various end-user activities like construction and mining were obstructed by social distancing protocols and a labor shortage. Due to this, the demand for hydraulic equipment witnessed a sharp decline all around the world. However, in the post-COVID-19 period, the global hydraulic equipment market is projected to witness growth as the countries start focusing on economic elevation.

Global Hydraulic Equipment Market - By Product

Based on products, the global hydraulic equipment market is segmented into pumps, cylinders,motors, valves, and others. Among these, the hydraulic cylinders hold the largest market share and are also projected to witness the highest CAGR during the forecast period. The cylinders are said to play a crucial role in architecture and are often used in holding up roofs, ceilings, arches, and more. Therefore, with growing construction activities, especially in developing countries, the demand for hydraulic cylinders is witnessing prolific growth.

Global Hydraulic Equipment Market - By Application

Based on applications, the global hydraulic equipment market is categorized into mobiles and industries. The mobile hydraulics segment accounts for the largest market share and is likely to maintain its dominance even in the forecast period. Mobile hydraulics is a type of equipment which is primarily used in non-movable heavy machinery. The demand for mobile hydraulics is driven by the increasing use of heavy machinery in construction and mining activities. Due to mobile hydraulics' use in these industries, lifting and moving heavy objects has become easier and more convenient, making it an increasingly attractive option for companies.

Global Hydraulic Equipment Market - Regional Insights

Geographically, the global hydraulic equipment market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America accounts for the largest market share due to the expanding mining activities in this region. A favorable standard set by the US, such as low interest rates, together with an increasing demand for commodities have been the key catalysts for this investment boom in the mining industry. The profusion of gold, copper, coal, iron, zinc-lead, crushed rocks, and rare earths reserves in the region are linked with the region's rapid growth. The Asia-Pacific region, on the other hand, is projected to witness the highest CAGR during the forecast period because of the growing construction activities for infrastructural development purposes.

Competitive Landscape

The leading market players in the global hydraulic equipment market are Bucher Hydraulics GmbH, Daikin Industries Ltd, Caterpillar Inc., Bosch Rexroth AG, WEBER-HYDRAULIK GmbH, Emerson Electric Co., Eaton Corporation, Kawasaki Heavy Industries Ltd., Anker-Holth USA, Metro Hydraulic Jack Co., Parker Hannifin Corporation, Danfoss A/S, Komatsu Ltd., Siemens AG, Wipro Limited, Actuant Corporation, KYB Corporation, GBB Industries, Holmatro, and other prominent players.

The global hydraulic equipment market is highly competitive due to the presence of several global and regional players. The adoption of competitive strategies like partnerships, mergers&acquisitions, and collaborations are also very prominent among the market players to expand their consumer base and establish their footholds in potential markets.

Recent Developments

  • In August 2021, Airline Hydraulics Corp., a US-based commercial and industrial supplier, announced the acquisition of Hy-Performance Hydraulics, an Australian hydraulics and drive products supplier. This acquisition is aimed towards expanding the service and repair sector of the airline’s business.

  • In August 2021, Eaton Corporation, a US-based machine industry company announced the completion of the sale of its hydraulics business to Danfoss A/S, a Danish industrial company.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Product, By Application, By End-User, By Region

Key Players

Bucher Hydraulics GmbH, Daikin Industries Ltd, Caterpillar Inc., Bosch Rexroth AG, WEBER-HYDRAULIK GmbH, Emerson Electric Co., Eaton Corporation, Kawasaki Heavy Industries Ltd., Anker-Holth USA, Metro Hydraulic Jack Co., Parker Hannifin Corporation, Danfoss A/S, Komatsu Ltd., Siemens AG, Wipro Limited, Actuant Corporation, KYB Corporation, GBB Industries, Holmatro, and other prominent players.

 

By Product

  • Pumps

  • Motors

  • Valves

  • Cylinders

  • Others

By Application

  • Mobiles

  • Industries

By End-User

  • Mining and Construction

  • Packaging

  • Material Handling

  • Others (Petrochemical, Machine Tools, Automotive, Paper, Plastic, Rubber and Printing)

By Region

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Key Market Segments
  2. Research Methodology
    1. Qualitative Research
    2. Methodology
    3. Regional Split of Primary & Secondary Research
    4. Secondary Research
    5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
    6. Market Size Estimation
    7. Assumptions for the Study
    8. Market Breakdown & Data Triangulation
  3. Executive Summary
  4. Industry Insight and Growth Strategy
    1. Value Chain Analysis
    2. DROC Analysis
      1. Market Drivers
        1. Increasing Use of Hydraulic Equipment in Agriculture
        2. Development and Emergence of Innovative and Smart Hydraulic Equipment
      2. Market Restraints
        1. High Cost of Hydraulic Equipment
      3. Market Challenges
        1. Negative Influence Due to COVIDs-19
      4. Market Opportunity
        1. Growing Construction Activities
        2. Surging Demand for Material Handling Equipment
    3. Recent Developments
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
  5. Global Hydraulic Equipment Market Overview
    1. Market Size & Forecast by Value, 2017-2027
    2. Market Size and Forecast, By Segment
      1. By Product
        1. Pumps
        2. Motors
        3. Valves
        4. Cylinders
        5. Others
      2. By Application
        1. Mobiles
        2. Industries
      3. By End-User
        1. Mining and Construction
        2. Packaging
        3. Material Handling
        4. Others (Petrochemical, Machine Tools, Automotive, Paper, Plastic, Rubber and Printing)
      4. By Region
        1. North America
        2. Europe
        3. Asia-Pacific
        4. Latin America
        5. Middle East & Africa
  6. North America Hydraulic Equipment Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Product
      2. By Application
      3. By End-User
      4. By Country
        1. U.S.
        2. Canada
  7. Europe Hydraulic Equipment Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Product
      2. By Application
      3. By End-User
      4. By Country
        1. Germany
        2. U.K.
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
  8. APAC Hydraulic Equipment Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Product
      2. By Application
      3. By End-User
      4. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of APAC
  9. LATAM Hydraulic Equipment Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Product
      2. By Application
      3. By End-User
      4. By Country
        1. Mexico
        2. Brazil
        3. Rest of LATAM
  10.  MEA Hydraulic Equipment Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
    3. By Product
    4. By Application
    5. By End-User
    6. By Country
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Rest of MEA
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking by Operating Parameters
  12. Impact of COVID-19 on Global Hydraulic Equipment Market
  13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Bucher Hydraulics GmbH
    2. Daikin Industries Ltd
    3. Caterpillar Inc.
    4. Bosch Rexroth AG
    5. WEBER-HYDRAULIK GmbH
    6. Emerson Electric Co.
    7. Eaton Corporation
    8. Kawasaki Heavy Industries Ltd.
    9. Anker-Holth USA
    10. Metro Hydraulic Hack Co.
    11. Parker Hannifin Corporation
    12. Danfoss A/S
    13. Komatsu Ltd.
    14. Siemens AG
    15. Wipro Limited
    16. Actuant Corporation
    17. KYB Corporation
    18. GBB Industries
    19. Holmatro
    20. Other Prominent Players
  14. Key Strategic Recommendations

 

List of Figures

 

Figure 1: Global Hydraulic Equipment Segmentation

 

Figure 2: Global Hydraulic Equipment Market Value Chain Analysis,

 

Figure 3: Company Market Share Analysis, 2020

 

Figure 4: Global Hydraulic Equipment Market Size, By Value (USD Billion), 2020-2027

 

Figure 5: Global Hydraulic Equipment Market Share (%), By Product, By Value, 2020-2027

 

Figure 6: Global Hydraulic Equipment Market Share (%), By Application, By Value, 2020-2027

 

Figure 7: Global Hydraulic Equipment Market Share (%), By End-User, By Value, 2020-2027

 

Figure 8: Global Hydraulic Equipment Market Share (%), By Region, By Value, 2020-2027

 

Figure 9: North America Hydraulic Equipment Market Size, By Value (USD Billion), 2020-2027

 

Figure 10: North America Hydraulic Equipment Market Share (%), By Product, By Value, 2020-2027

 

Figure 11: North America Hydraulic Equipment Market Share (%), By Application, By Value, 2020-2027

 

Figure 12: North America Hydraulic Equipment Market Share (%), By End-User, By Value, 2020-2027

 

Figure 13: North America Hydraulic Equipment Market Share (%), By Country, By Value, 2020-2027

 

Figure 14: Europe Hydraulic Equipment Market Size, By Value (USD Billion), 2020-2027

 

Figure 15: Europe Hydraulic Equipment Market Share (%), By Product, By Value, 2020-2027

 

Figure 16: Europe Hydraulic Equipment Market Share (%), By Application, By Value, 2020-2027

 

Figure 17: Europe Hydraulic Equipment Market Share (%), By End-User, By Value, 2020-2027

 

Figure 18: Europe Hydraulic Equipment Market Share (%), By Country, By Value, 2020-2027

 

Figure 19: the Asia-Pacific Hydraulic Equipment Market Size, By Value (USD Billion), 2020-2027

 

Figure 20: the Asia-Pacific Hydraulic Equipment Market Share (%), By Product, By Value, 2020-2027

 

Figure 21: the Asia-Pacific Hydraulic Equipment Market Share (%), By Application, By Value, 2020-2027

 

Figure 22: the Asia-Pacific Hydraulic Equipment Market Share (%), By End-User, By Value, 2020-2027

 

Figure 23: the Asia-Pacific Hydraulic Equipment Market Share (%), By Country, By Value, 2020-2027

 

Figure 24: Latin America Hydraulic Equipment Market Size, By Value (USD Billion), 2020-2027

 

Figure 25: Latin America Hydraulic Equipment Market Share (%), By Product, By Value, 2020-2027

 

Figure 26: Latin America Hydraulic Equipment Market Share (%), By Application, By Value, 2020-2027

 

Figure 27: Latin America Hydraulic Equipment Market Share (%), By End-User, By Value, 2020-2027

 

Figure 28: Latin America Hydraulic Equipment Market Share (%), By Country, By Value, 2020-2027

 

Figure 29: Middle East & Africa Hydraulic Equipment Market Size, By Value (USD Billion), 2020-2027

 

Figure 30: Middle East & Africa Hydraulic Equipment Market Share (%), By Product, By Value, 2020-2027

 

Figure 31: Middle East & Africa Hydraulic Equipment Market Share (%), By Application, By Value, 2020-2027

 

Figure 32: Middle East & Africa Hydraulic Equipment Market Share (%), By End-User, By Value, 2020-2027

 

Figure 33: Middle East & Africa Hydraulic Equipment Market Share (%), By Region, By Value, 2020-2027

 

 

 

List of Tables

 

 

Table 1: Global Hydraulic Equipment Market Size, By Product, By Value, 2020-2027

 

Table 2: Global Hydraulic Equipment Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 3: Global Hydraulic Equipment Market Size, By End-User, By Value (USD Billion), 2020-2027

 

Table 4: Global Hydraulic Equipment Market Size, By Region, By Value (USD Billion), 2020-2027

 

Table 5: North America Hydraulic Equipment Market Size, By Product, By Value (USD Billion), 2020-2027

 

Table 6: North America Hydraulic Equipment Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 7: North America Hydraulic Equipment Market Size, By End-User, By Value (USD Billion), 2020-2027

 

Table 8: North America Hydraulic Equipment Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 9: Europe Hydraulic Equipment Market Size, By Product, By Value (USD Billion), 2020-2027

 

Table 10: Europe Hydraulic Equipment Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 11: Europe Hydraulic Equipment Market Size, By End-User, By Value (USD Billion), 2020-2027

 

Table 12: Europe Hydraulic Equipment Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 13: the Asia-Pacific Hydraulic Equipment Market Size, By Product, By Value (USD Billion), 2020-2027

 

Table 14: the Asia-Pacific Hydraulic Equipment Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 15: the Asia-Pacific Hydraulic Equipment Market Size, By End-User, By Value (USD Billion), 2020-2027

 

Table 16: the Asia-Pacific Hydraulic Equipment Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 17: Latin America Hydraulic Equipment Market Size, By Product, By Value (USD Billion), 2020-2027

 

Table 18: Latin America Hydraulic Equipment Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 19: Latin America Hydraulic Equipment Market Size, By End-User, By Value (USD Billion), 2020-2027

 

Table 20: Latin America Hydraulic Equipment Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 21: The Middle-East & Africa Hydraulic Equipment Market Size, By Product, By Value (USD Billion), 2020-2027

 

Table 22: The Middle-East & Africa Hydraulic Equipment Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 23: The Middle-East & Africa Hydraulic Equipment Market Size, By End-User, By Value (USD Billion), 2020-2027

 

Table 24: The Middle-East & Africa Hydraulic Equipment Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 25: Bucher Hydraulics GmbH Financial Analysis

Table 26: Bucher Hydraulics GmbH Business Overview

Table 27: Daikin Industries LtdFinancial Analysis

Table 28: Daikin Industries LtdBusiness Overview

Table 29: Caterpillar Inc.Financial Analysis

Table 30: Caterpillar Inc. Business Overview

Table 31: Bosch Rexroth AGFinancial Analysis

Table 32: Bosch Rexroth AG Business Overview

Table 33: WEBER-HYDRAULIK GmbH Financial Analysis

Table 34: WEBER-HYDRAULIK GmbHBusiness Overview

Table 35: Emerson Electric Co. Financial Analysis

Table 36: Emerson Electric Co. Business Overview

Table 37: Eaton Corporation Financial Analysis

Table 38: Eaton Corporation Business Overview

Table 39: Kawasaki Heavy Industries Ltd. Financial Analysis

Table 40: Kawasaki Heavy Industries Ltd. Business Overview

Table 41: Anker-Holth USAFinancial Analysis

Table 42: Anker-Holth USABusiness Overview

Table 43: Metro Hydraulic Hack Co. Financial Analysis

Table 44: Metro Hydraulic Hack Co. Business Overview

Table 45: Parker Hannifin Corporation Financial Analysis

Table 46: Parker Hannifin CorporationFinancial Analysis

Table 47: Danfoss A/S Financial Analysis

Table 48: Danfoss A/S Business Overview

Table 49: Komatsu Ltd. Financial Analysis

Table 50: Komatsu Ltd. Business Overview

Table 51: Siemens AG Financial Analysis

Table 52: Siemens AG Business Overview

Table 53: Wipro Limited Financial Analysis

Table 54: Wipro Limited Business Overview

Table 55: Actuant Corporation Financial Analysis

Table 56: Actuant Corporation Business Overview

Table 56: KYB Corporation Financial Analysis

Table 58: KYB Corporation Business Overview

Table 59: GBB IndustriesFinancial Analysis

Table 60: GBB Industries Business Overview

Table 61: Holmatro Financial Analysis

Table 62: Holmatro Business Overview

 

Market Segmentation

By Product

  • Pumps
  • Motors
  • Valves
  • Cylinders
  • Others

By Application

  • Mobiles
  • Industries

By End-User

  • Mining and Construction
  • Packaging
  • Material Handling
  • Others (Petrochemical, Machine Tools, Automotive, Paper, Plastic, Rubber and Printing)

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
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Frequently Asked Questions (FAQs):

Ans: The global hydraulic equipment market reached USD 41.2 billion in 2020.
Ans: The global hydraulic equipment market growth is primarily driven by the increasing use of hydraulic equipment in agriculture and the development and emergence of innovative and smart hydraulic equipment.
Ans: The key players in the global hydraulic equipment market are: Bucher Hydraulics GmbH, Daikin Industries Ltd, Caterpillar Inc., Bosch Rexroth AG, WEBER-HYDRAULIK GmbH, Emerson Electric Co., Eaton Corporation, Kawasaki Heavy Industries Ltd., Anker-Holth USA, Metro Hydraulic Jack Co., Parker Hannifin Corporation, Danfoss A/S, Komatsu Ltd., Siemens AG, Wipro Limited, Actuant Corporation, KYB Corporation, GBB Industries, Holmatro, and other prominent players.
Ans: The mobile segment accounted for the largest share in the global hydraulic equipment market.
Ans: North America has the largest share in the global hydraulic equipment market.