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.
Fluid power refers to the use of liquid or gas to generate a considerable amount of power for moving a load and performing different tasks. It is utilized 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 industries. At present, there is a rise in the employment of the equipment in the food and beverage (F&B) industry for moving ingredients, processing, and final packaging across the globe.
Fluid Power Equipment Market Trends:
The growing use of fluid power equipment in wastewater treatment represents one of the key factors driving the market. Moreover, there is an increase in investments to introduce energy-efficient solutions and reduce greenhouse gas (GHG) emissions, and the demand for energy imports worldwide. This, along with the rising focus on technological advancements for manufacturing and developing fluid power equipment, is propelling the growth of the market. In addition, the growing utilization of smart valves to gain better control over operation and safety in industry 4.0 is positively influencing the market. Besides this, the introduction of several user-friendly fluid products is offering lucrative growth opportunities to end-users and investors. Additionally, the growing automation in factories to drive precision, consistency, and greater operational efficiency is catalyzing the demand for fluid power equipment around the world. Furthermore, key market players are extensively investing in research and development (R&D) activities to increase their overall sales and profitability. Other growth-inducing factors are the rising production volume of vehicles, rapid urbanization and increasing number of multinational outlets.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fluid power equipment market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, component and end user.
Breakup by Product:
Breakup by Component:
- Accumulators and Filters
Breakup by End User:
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
|Base Year of the Analysis
||Product, Component, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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Key Questions Answered in This Report:
- How has the global fluid power equipment market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global fluid power equipment market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global fluid power equipment market and who are the key players?
- What is the degree of competition in the industry?