Hydraulic Equipment Market Global Competitive Analysis and Demand Analysis 2020 to 2027

PORTLAND, OR, UNITES STATES, September 6, 2021 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Hydraulic Equipment Market by Application, End User and Product: Opportunity Analysis and Industry Forecast, 2020–2027,” the global hydraulic equipment market size accounted for $40,518.6 million in 2019, and is expected to reach $51,653.1 million by 2027, registering a CAGR of 3.8% from 2020 to 2027.

The growth of the global hydraulic equipment market is driven by atomization of activities in agriculture, construction, mining, packaging, and other manufacturing industries, which fuel the demand for hydraulic equipment. Machines such as cranes, loaders, bulldozer, tractors, and harvester use motors, pumps, cylinders, and valves for their operations. However, electro-mechanical equipment are being preferred by some customers, as they are maintenance-free due to fluid and oil free operation. In addition, COVID-19 pandemic has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact for market growth all over the year.

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Leading Players:
The key players analyzed in the global hydraulic equipment market are Daikin Industries Ltd., Danfoss A/S, Eaton, Emerson Electric Co., Kawasaki Heavy Industries Ltd., Komatsu Ltd., Parker-Hannifin Corp., Robert Bosch GmbH, Siemens AG, and Wipro Limited.

Key Market Segments:
By Application
• Mobile
• Industries

By End User
• Mining & Construction
• Agriculture & Mining
• Packaging
• Material Handling
• Other

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Region wise, the hydraulic equipment market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Denmark, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study:

• By application, the industrial segment was the highest revenue contributor in 2019.
• On the basis of end user, the mining & construction segment generated the highest revenue in 2019.
• Depending on product, the cylinder segment was led the market in 2019.
• Region wise, Asia-Pacific garnered the largest market share in 2019, followed by North America and Europe.

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David Correa
Allied Analytics LLP
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