Hydraulic Equipment Market Size, Share, Growth Analysis, By Type (Pumps, Valves), By Application (Mobile, Industrial), By End-User Industry (Construction, Agriculture), By Region - Industry Forecast 2024-2031

Global Hydraulic Equipment Market size was valued at USD 44.3 billion in 2022 and is poised to grow from USD 46.29 billion in 2023 to USD 65.83 billion by 2031, growing at a CAGR of 4.5% during the forecast period (2024-2031). 

The global market is experiencing significant growth due to various factors such as the increasing demand for material handling equipment, a surge in building activity, a rising need for advanced agricultural machinery, and the widespread adoption of hydraulic equipment across diverse industries. The market is experiencing significant growth due to increasing demands for material handling equipment, a rise in building activity, growing need for advanced agricultural machinery, and widespread adoption of hydraulic equipment across various sectors. The utilization of pressurized fluids to generate, regulate, and transfer power is driving the demand for material handling equipment. Hydraulic systems employ fluid motors to produce torque for rotational motion and fluid cylinders to generate force for linear motion. The expansion of the construction industry is also contributing to the market's growth, as hydraulic cylinders are extensively used in construction equipment and mobile machinery. Skid steer loaders, excavators, backhoes, hitches, motor graders, wheel loaders, dumper trucks, road rollers, dozers, and trenchers, among other heavy-duty construction machinery, all require reliable hydraulic cylinders to ensure accurate movement and high-cycle rating.

US Hydraulic Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.