What is the global market size of Fluid Power Equipment Market?

Fluid Power Equipment Market size was valued at USD 41488.89 million in 2021 and is poised to grow from USD 43945.03 million in 2022 to USD 73741.43 million by 2030, growing at a CAGR of 5.92% in the forecast period (2023-2030).

Fluid Power Equipment Market Size, Share, Growth Analysis, By Type(Hydraulics, Pneumatics), By Application(Construction, Automotive, Oil & Gas, Chemicals), By Equipment(Pumps, Motors, Valves, Cylinders), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20E2052 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 96 | Figures: 76

Fluid Power Equipment Market News

In June 2021, Ingersoll Rand Inc. entered into an agreement to acquire Maximus, a provider of digital controls and Industrial Internet of Things (IIoT) production management systems for the agritech market. This will help the company to drive additional innovation and significant synergies with Dosatron and other PST brands.
In June 2021, Eaton acquired Cobham Mission Systems. Cobham is a manufacturer of air-to-air refueling systems, environmental systems, and actuation, primarily for the defense market. This acquisition will help to expand Eaton Aerospace’s fuel systems offerings, and other defense related offerings.
May 2021, Bosch Rexroth launched a fast and power-dense Hägglunds Atom hydraulic motor. The Hägglunds Atom replaces the existing Hägglunds CAb, delivering not only more revolutions per minute but also more powerful than motors of similar size. The result is a tiny, power-dense package that is ideal for mobile, marine, and recycling applications.

Fluid Power Equipment Market Report Snapshots

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Fluid Power Equipment Market size was valued at USD 41488.89 million in 2019 and is poised to grow from USD 43945.03 million in 2023 to USD 73741.43 million by 2031, growing at a CAGR of 5.92% in the forecast period (2024-2031).

Companies are constantly investing in strategic partnerships and product development in order to increase their market share. In order to enhance their presence on the worldwide market, various companies are also concentrating on implementing methods like collaborations. Additionally, they have been concentrating on tactics such as inorganic and organic growth advancements, including contracts and investments. 'Bosch Rexroth Corporation ', 'Eaton', 'Parker Hannifin Corp', 'Danfoss A/S', 'Kawasaki Heavy Industries, Ltd.', 'Wipro Enterprises Limited', 'Alfa Laval AB', 'SMC Corporation', 'Curtiss-Wright Corporation', 'HYDAC International GmbH', 'HYVA Holding B.V.', 'Festo AG & Co. KG', 'Rotork plc', 'Hengli Group Co., Ltd.', 'The Weir Group PLC', 'Komatsu Ltd.', 'Nabtesco Corporation', 'Linde Hydraulics GmbH & Co. KG', 'Voith GmbH & Co. KGaA', 'HATZ Diesel of America, Inc.'

Increased demand from the food and beverage industries: One of the key reasons boosting the market for fluid power equipment is the rising demand from the food and beverage industry. Additionally, the market is positively impacted by the growing demand for water and wastewater infrastructure, particularly in developing nations.

Rise in Inclination towards Fluid Power Equipment: The increased preference for fluid power equipment over electrical and mechanical equipment, such as smooth linear motion using hydraulic or pneumatic cylinders, is expected to accelerate market expansion.

Based on the region, the Asia Pacific region currently dominates the global fluid power equipment market with respect to market share and it is predicted to have the highest share over the forecast period. This is as a result of the region's rapidly expanding population and rising energy consumption.

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Fluid Power Equipment Market Size, Share, Growth Analysis, By Type(Hydraulics, Pneumatics), By Application(Construction, Automotive, Oil & Gas, Chemicals), By Equipment(Pumps, Motors, Valves, Cylinders), By Region - Industry Forecast 2024-2031

Fluid Power Equipment Market News

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