IMARC Group, a leading market research company, has recently releases report titled “Fluid Power Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global fluid power equipment market size, share, trends, growth, report and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. The global fluid power equipmentmarket 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 is Fluid Power Equipment?
Fluid power equipment is an industrial component that harnesses the power generated by liquid or gas fluids for transmission and utilization. It encompasses a range of components, including valves, fittings, sensors, seals, pumps, cylinders, hoses, gauges, filters, and reservoirs. Fluid power equipment helps to perform diverse tasks, such as creating new underground mining tunnels and lifting and stacking large glass sheets. It provides versatile control options, enabling regulation of direction, speed, force, and torque, thus enhancing accuracy, efficiency, and overall production capabilities. Consequently, fluid power equipment finds widespread applications across several sectors, such as agricultural, aerospace, automotive, construction, etc.
What Are the Growth Prospects and Trends in The Fluid Power Equipment Industry?
The fluid power equipment market is primarily driven by the growing adoption of fluid power equipment in wastewater treatment and the rising investments to introduce energy-efficient solutions that will help reduce greenhouse gas (GHG) emissions and address the global demand for energy imports. Additionally, the escalating focus on technological advancements in the manufacturing and development of fluid power equipment is further fueling the market growth. Moreover, the elevating usage of smart valves to improve control and safety in Industry 4.0 is also positively influencing the global market. Apart from this, the introduction of user-friendly fluid products and the emerging trend of automation of factories to drive precision, consistency, and operational efficiency are acting as significant growth-inducing factors. Furthermore, the inflating expenditure by key market players on research and development (R&D) activities to boost sales and profitability, the increasing production volume of vehicles, rapid urbanization, and the expanding multinational outlets are expected to propel the fluid power equipment market in the coming years.
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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
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.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
