Overview and Scope
Fluid power equipment refers to industrial machinery or components that use fluids such as liquids or gases to transmit power from one location to another. The fluid power equipment is used to control, generate, and transmit power. They can produce high pressure and high force in compact volumes that can be monitored within a system by meters and gauges. These are used to push, lift, rotate, pull, or grip almost any load.
Sizing and Forecast
The fluid power equipment market size has grown strongly in recent years. It will grow from $30.39 billion in 2023 to $32.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to expansion of construction and infrastructure projects, automotive industry applications, mining and material handling equipment demand, energy sector utilization, aerospace and defense applications.
The fluid power equipment market size is expected to see strong growth in the next few years. It will grow to $44.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rise in renewable energy projects, focus on energy efficiency, expansion of e-commerce and logistics, increased adoption of electric and hybrid vehicles, infrastructure development in emerging markets. Major trends in the forecast period include integration of industry 4.0 technologies, advancements in hydraulic technology, focus on energy-efficient solutions, advancements in hydraulic fluid, emphasis on condition monitoring and predictive maintenance.
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Segmentation & Regional Insights
The fluid power equipment market covered in this report is segmented –
1) By Type: Hydraulic, Pneumatic
2) By Product Types: Pumps, Motors, Valves, Cylinders, Accumulators And Filters, Other Product Types
3) By Application: Construction, Automotive, Oil And Gas, Food Processing, Packaging, Semiconductor, Other Applications
Asia-Pacific was the largest region in the field power equipment market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the fluid power equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
An increase in demand from the food and beverage industry is significantly contributing to the growth of the fluid power equipment market going forward. The food and beverage industry includes companies that are involved in the processing, packaging, and distribution of food materials and alcoholic and non-alcoholic beverages. Fluid power equipment is used in the food and beverage industry for processing, moving ingredients, and final packaging. For instance, in November 2023, according to the USDA Economic Research Service, a US-based federal agency, in 2022, food expenditures constituted 12.8 percent of spending for U.S. households, marking a rise from the 12.4 percent recorded in 2021. Therefore, an increase in demand from the food and beverage industries is driving the growth of the fluid power equipment market.
Key Industry Players
Major companies operating in the fluid power equipment market report are Hengli America Inc., Eaton Corporation plc, Parker Hannifin Corporation, Kawasaki Heavy Industries Ltd., Atos S.p.A., Dover Corporation, Bosch Rexroth AG, Alfa Laval, Festo SE & Co. KG, Flowserve Corporation, Crane Holdings, Hydac GmbH, Graco Inc., Colfax Ltd., Helios Technologies Inc., Christian Bürkert GmbH and Co, Circor International, Moog Inc., Sparrows Offshore Group Limited, Bucher Hydraulics GmbH, Oilgear Company, Casappa S.p.A, Duplomatic Motion Solutions S.p.A., Hawe Hydraulik SE, Fluid Systems Inc., Daikin Industries Ltd., Daman Products Co. Inc., Fluid-Power Equipment Inc., Applied Fluid Power, Hydraulics International Inc., BVA Hydraulics
The fluid power equipment market report table of contents includes:
1. Executive Summary
2. Fluid Power Equipment Market Characteristics
3. Fluid Power Equipment Market Trends And Strategies
4. Fluid Power Equipment Market - Macro Economic Scenario
5. Global Fluid Power Equipment Market Size and Growth
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32. Global Fluid Power Equipment Market Competitive Benchmarking
33. Global Fluid Power Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fluid Power Equipment Market
35. Fluid Power Equipment Market Future Outlook and Potential Analysis
36. Appendix
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