The global market report on the Hydraulic equipment Market Size reveals a possibility of the market crossing USD 54.6 billion by 2030. During the forecast period covering 2022 to 2030, the market has a chance to record growth by 4.02%. The global market for hydraulic equipment is expected to get tailwinds from the rising investment in the construction sector of the developing regions, demand for advanced technologies, easy incorporation of advanced tools, investment in research and development projects, growing demand for such machines in the mining sector, booming water & wastewater infrastructure, and others.

However, these tools are often costly, owing to which companies hesitate to invest in acquiring such machines.

Competitive Landscape:

  • Eaton Corporation Plc (Ireland)
  • Parker Hannifin (US)
  • Fluitronics GmbH (Germany)
  • Kawasaki (Japan)
  • HAWE (Germany)
  • Bosch Rexroth (Germany)
  • Moog, Inc. (US)
  • Hydac (Germany)
  • Concentric (Sweden)
  • Bucker Hydraulics (Germany)
  • Daikin (Japan)
  • Nachi-Fujikoshi (Japan)
  • Dantal Hydraulics (India)
  • Casappa (Italy)
  • Linde Hydraulics (Germany)

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The global hydraulic equipment market can be studied on the basis of segmentation that includes component and application. This segmentation provides better opportunities regarding insights as data in these segments were mined expert analysts who back it further with scientific methods and parameters.

By component, the understanding of the global hydraulic equipment market includes segments like motors, pumps, cylinders, valves, and accessories. The valves segment has the upper hand in the hydraulic equipment market and it will remain so during the forecast period.

By application, the report on the hydraulic equipment market includes a study of industrial and mobile. The mobile sub-segment has the chance to generate maximum revenue in the coming years.    

Regional Analysis:

Asia Pacific has the chance to dominate the global market as the regional market is benefiting from the support of China. In Europe, this market will profit from Germany’s investment.

Industry News:

In July 2020, Hitachi Construction Machinery (HCM) announced that it has plans to trial autonomous ultra-large hydraulic excavators. The process will take place at an Australia mine site and it would be a part of verification tests.

The tests, as announced by the governing body, will commence from the financial year of 2021. If it is successful, then it will usher in a new era of mining where safety and productivity will get the main focus. The machine is a remote-controlled ultra-large hydraulic excavator that will help improve the working environment and ensure the safety of operators. It will have operator support systems, like a collision-avoidance system with other mining equipment and it will ensure the same level of operability just like the operator on board the machinery.

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In August 2020, the Bazetta Fire Department declared that it received $39,047 to ensure proper replacement of its hydraulic extrication equipment using the Assistance to Firefighters Grant. This money gets awarded via the Department of Homeland Security and, as per the rule, requires a 5%t local match of less than $2,000 when the total budget is $41,000.

However, this market is expected to witness some setbacks as the COVID-19 crisis has affected a lot of industries with which this market shares a direct connection. For instance, the construction sector took heavy blows, especially in developing countries, which is bound to disrupt the intake of hydraulic equipment.