Fluid Power Equipment Market 2023, Share, Demand, Scope, Growth And Forecast 2028

IMARC Group’s report titled “Fluid Power Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global fluid power equipment market forecast. The global 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 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.

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Fluid Power Equipment Market Trends and Drivers:

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.

Report 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

Market 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

Competitive Landscape with Key Player:

• 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
• Sparrows Offshore Group Limited

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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