Hydraulic Equipment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Hydraulic Equipment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, June 19, 2024 /EINPresswire.com/ -- The hydraulic equipment market, encompassing machinery and devices utilizing pressurized fluid for diverse industrial tasks, has exhibited robust growth. Starting from $42.92 billion in 2023, the market is poised to grow to $45.21 billion in 2024, marking a compound annual growth rate (CAGR) of 5.3%. This expansion is attributed to factors such as urbanization, industrialization, increased demand for advanced agricultural machinery, and the integration of hydraulic systems in automated manufacturing processes.

Steady Growth Projected, Reaching $53.54 Billion by 2028
Looking ahead, the hydraulic equipment market is expected to continue its upward trajectory, reaching $53.54 billion by 2028 at a CAGR of 4.3%. Factors driving this growth include the expansion of the construction industry, rising demand for eco-friendly hydraulic solutions, and increased usage in aerospace, defense, electric vehicles, and mining sectors. Major trends influencing this forecast period include IoT integration, establishment of new manufacturing facilities, mechanized agricultural equipment adoption, product innovation, and heightened investments.

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Construction Industry Expansion Fuels Market Growth
The expanding construction sector, involving activities from planning to maintenance of buildings and infrastructure, plays a pivotal role in driving the hydraulic equipment market. Governments' infrastructure investments and stabilization in real estate markets globally contribute significantly. Hydraulic systems excel in heavy lifting and operational tasks crucial for construction equipment like cranes, excavators, and bulldozers. For example, recent data from the Office for National Statistics noted a 1.6% increase in UK construction output in June 2023, underlining sector resilience and growth.

Major Players and Innovations
Leading companies shaping the hydraulic equipment market landscape include Robert Bosch GmbH, Siemens AG, Komatsu Ltd., Parker Hannifin Corporation, and Emerson Electric Co. These firms focus on developing energy-efficient hydraulic pumps and advanced technologies to enhance operational efficiency and maintain competitiveness. For instance, Grundfos introduced the SP 6-inch hydraulic pump, featuring upgraded hydraulics for superior energy efficiency and robust stainless-steel design for extended durability and versatility.

Market Segments
The hydraulic equipment market is segmented by component (Motors, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions, Other Components), applications (Mobile, Industries), and end-users (Mining And Construction, Agriculture And Mining, Packaging, Material Handling, Other Applications).

Regional Insights
North America led the hydraulic equipment market in 2023, with Asia-Pacific anticipated as the fastest-growing region through the forecast period. The report provides comprehensive insights into regional dynamics, emerging market trends, and growth opportunities.

Access the complete report for an in-depth analysis of the hydraulic equipment market: https://www.thebusinessresearchcompany.com/report/hydraulic-equipment-global-market-report

Hydraulic Equipment Global Market Report 2024 from TBRC covers the following information:
1. Market size data for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Hydraulic Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on hydraulic equipment market size, hydraulic equipment market drivers and trends, hydraulic equipment market major players, competitors' revenues, market positioning, and market growth across geographies. The hydraulic equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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