DUBLIN--(BUSINESS WIRE)--The "Global Hydraulics Market by Components (Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions), Type (Mobile Hydraulics, Industrial Hydraulics), End User (Construction, Agriculture, Material Handling), Sensors & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global hydraulics market is on an accelerated growth trajectory, as highlighted in a new industry research publication. With a projected Compound Annual Growth Rate (CAGR) of 3.5%, the market is anticipated to leap from USD 42.5 billion in 2023 to an impressive USD 50.5 billion by 2028.
This expansion is primarily fueled by the burgeoning construction sector, heightened adoption of advanced agricultural machinery, and the escalating demand for efficient material-handling equipment.
The study offers an expansive analysis of the hydraulics market, delving into key segments such as motors, pumps, cylinders, valves, filters, accumulators, transmissions, and sensors. It underscores the rapid growth in the mobile hydraulics segment, which aligns with the latest industry trends and technological advancements, establishing mobile hydraulics as a vital component of modern machinery.
Unprecedented Growth in Agriculture
The agriculture sector emerges as the fastest-growing segment, predicted to exhibit the highest CAGR during the forecast period. This surge is correlated with the sector's increasing mechanization, reflecting the growing reliance on hydraulic systems to enhance farming efficiency and productivity. Hydraulic components are integral to the operational prowess of contemporary agricultural equipment, driving the sector's robust expansion.
Asia Pacific at the Forefront
Within the regional landscape, Asia Pacific demonstrates the most rapid growth rate and is expected to maintain this lead through 2028. Countries like China and India are at the vanguard of this growth, investing heavily in infrastructure and industrial activities, which are vital demand generators for hydraulics components and systems.
The report offers an intricate breakdown of the market dynamics, encompassing in-depth insights into various factors steering the market growth. It encompasses:
- An in-depth analysis of predominant market drivers, such as the surge in global construction activities and the rising need for sophisticated agricultural machinery.
- Comprehensive insights into challenges faced by the industry, including high manufacturing and maintenance costs and environmental concerns tied to hydraulic systems.
Diverse Applications Across Industries: Hydraulics are widely employed across multiple industries, including construction, material handling, agriculture, mining, and aerospace. The report illuminates the diverse uses of hydraulics in these sectors, spotlighting how they are indispensable to the smooth operation of a multitude of processes.
An extensive competitive analysis is included, revealing the strategic market positioning and innovations of key industry players. Armed with this information, stakeholders, business leaders, and strategic decision-makers are empowered to craft informed, impactful market entry and expansion strategies, capitalizing on the opportunities presented by the burgeoning hydraulics market.
The hydraulics market report stands as a crucial resource for anyone seeking to understand the intricate workings of this dynamic industry and the factors that will shape its landscape in the coming years.
The report provides insights on the following pointers:
- Analysis of key drivers (the surge in construction projects, growing need for advanced agricultural machinery, and rising demand for material handling equipment), restraints (high manufacturing and maintenance costs, intensifying concerns regarding oil leaks), opportunities (advancement in intelligent hydraulic machinery, ongoing research and technological progress in hydraulic cylinders, surging adoption of lifting equipment in the shipping industry, increasing uptake of electric vehicles), and challenges (availability of substitute products).
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the hydraulics market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the hydraulics market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the hydraulics market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Danfoss (Denmark), Bosch Rexroth AG (Germany), Parker Hannifin Corporation (US), and other players.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 213 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $42.5 Billion |
| Forecasted Market Value (USD) by 2028 | $50.5 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
Companies Mentioned
- Advanced Hydraulics, LLC
- Aggressive Hydraulics, Inc.
- Bailey International, LLC
- Bosch Rexroth Ag
- Caterpillar
- Danfoss
- Enerpac Tool Group
- Holmatro
- Hydac
- Kappa Engineering
- Kawasaki Heavy Industries
- Kyb Corporation
- Lehigh Fluid Power, Inc.
- Ligon Hydraulic Cylinder Group
- Marrel
- Pacoma GmbH
- Parker-Hannifin Corporation
- Prince Manufacturing
- SMC Corporation
- Standex International
- Texas Hydraulics
- Valarm
- Weber-Hydraulik
- Wipro Enterprises
- Yuasa Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/81dd31
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