Industrial Hydraulic Equipment Market Size, Share, Trends, Growth 2032

Industrial Hydraulic Equipment Industry Prospective:

The global industrial hydraulic equipment market size was evaluated at $37 billion in 2023 and is slated to hit $55 billion by the end of 2032 with a CAGR of nearly 5% between 2024 and 2032.

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Industrial Hydraulic Equipment Market: Overview

Industrial hydraulic devices are the main components of a large number of production processes. Furthermore, they make use of hydraulic power produced by fluid movement to carry out a slew of functions with accuracy. Apart from this, they find applications in the automotive, manufacturing, and construction sectors.

Key Insights

• As per the analysis shared by our research analyst, the global industrial hydraulic equipment market is projected to expand annually at the annual growth rate of around 5% over the forecast timespan (2024-2032)
• In terms of revenue, the global industrial hydraulic equipment market size was evaluated at nearly $37 billion in 2023 and is expected to reach $55 billion by 2032.
• The global industrial hydraulic equipment market is anticipated to grow rapidly over the forecast timespan owing to an increase in automation & industrialization in third-world economies and an increase in construction activities due to the rapidly surging population across the globe.
• In terms of component, the cylinders segment is slated to register the highest CAGR over the forecast period.
• Based on end-user, the construction segment is predicted to contribute majorly towards segmental space in the upcoming years.
• Region-wise, the Asia-Pacific industrial hydraulic equipment industry is projected to register the fastest CAGR during the projected timespan.

Industrial Hydraulic Equipment Market: Growth Factors

A surge in the need for automation of various construction activities will drive global market trends

An increase in automation & industrialization in third-world economies and an increase in construction activities due to the rapidly surging population globally will drive the global industrial hydraulic equipment market trends.

Moreover, breakthroughs in hydraulic technology, along with a surge in the popularity of electric vehicles, have increased the demand for hydraulic components.

In addition, the flourishing renewable energy sector, along with a focus on improving energy efficacy, will spur the growth of the global market. A rise in the penetration of hydraulic devices in robotics and farming sectors will augment the size of the market globally.

Industrial Hydraulic Equipment Market: Restraints

High escalating prices will obstruct the expansion of the global industry by 2032

Huge preliminary costs and maintenance charges can disrupt the growth rate of the global industrial hydraulic equipment industry. In addition, tough competition from business rivals can impact business dynamics as well as product pricing, thereby creating hurdles in the growth path of the industry across the globe.

Industrial Hydraulic Equipment Market: Opportunities

Massive use of hydraulic systems in the renewable energy segment will create new growth avenues for the global market

Breakthroughs in hydraulic technology, along with the immense use of hydraulic devices in the renewable energy sector, are likely to open new growth facets for the global industrial hydraulic equipment industry.

Apart from this, the need for product customization and energy-efficient solutions is likely to boost the market space in the coming years.  

Industrial Hydraulic Equipment Market: Challenges

Stringent legislation related to growing environmental concerns can challenge the global industry expansion

Strict environmental laws, an increase in hydraulic device costs, and technological complexities can challenge the expansion of the global industrial hydraulic equipment industry. A rise in the product repairing charges can put brakes on the global industry expansion in the foreseeable future.

Industrial Hydraulic Equipment Market: Segmentation

The global industrial hydraulic equipment market is divided into component, end-user, and region.                                             

In terms of component, the industrial hydraulic equipment market across the globe is segmented into motors, cylinders, filters, pumps, and valves segments.

Apparently, the cylinders segment, which amassed nearly 61% of the global market revenue in 2023, is anticipated to account for the highest CAGR in the coming eight years owing to the escalating use of hydraulic cylinders in various end-use sectors.

Apart from this, humungous demand for the product in retrofitting hydraulic equipment for improving the performance of hydraulic systems will drive the segmental surge.

Based on the end-user, the global industrial hydraulic equipment industry is segmented into aerospace, construction, agriculture, metal & machinery manufacturing, and automotive segments.

Apparently, the construction segment, which led the global industry in 2023, is expected to account remarkably towards the segmental surge in the ensuing years.

This can be owing to the large-scale penetration of hydraulic instruments in the construction sector and the growing necessity to build strong infrastructure projects. Growing roads, bridges, and building constructions will drive segmental growth in the coming years.

Industrial Hydraulic Equipment Market: Report Scope

Industrial Hydraulic Equipment Market: Regional Insights

North America is likely to maintain leading status in the global market over the projected time-interval

North America, which contributed about 55% of the global industrial hydraulic equipment market size in 2023, is likely to establish a leading position in the global market in the ensuing years.

Apart from this, the regional market progression in the next eight years can be credited to the presence of strong manufacturing units in countries such as the U.S.

Furthermore, flourishing sectors such as heavy machinery, construction, aerospace, and automotive will drive the regional market growth.

Asia-Pacific industrial hydraulic equipment industry is expected to record the fastest compound growth annually in the ensuing years. The expansion of the industry in the APAC zone can be a result of escalating demand for material handling devices and urbanization.

Moreover, industrialization and technological breakthroughs are expected to spur the regional industry expansion over forecast period.  

Key Developments

• In October 2024, Chevron Corporation launched Clarity Bio EliteSyn AW, a hydraulic fluid system designed to fulfill the requirements of the construction and marine sectors.
• In June 2024, Volvo CE launched a new hydraulic excavator, the ‘Built for Bharat’ EC210 hydraulic excavator, which provides excellent performance, reduced maintenance charges, and outstanding fuel efficacy.

Industrial Hydraulic Equipment Market: Competitive Space

The global industrial hydraulic equipment market profiles key players such as:

• Caterpillar Inc.
• Bosch Rexroth AG
• Eaton Corporation Plc
• HYDAC International GmbH
• Parker Hannifin Corporation
• Linde Hydraulics GmbH & Co. KG
• Kawasaki Heavy Industries
• Danfoss A/S
• Moog Inc.
• Wipro Enterprises
• Daikin Industries
• Emerson Electric Co.

The global industrial hydraulic equipment market is segmented as follows:

By Component

• Motors
• Cylinders
• Filters
• Pumps
• Valves

By End-User

• Aerospace
• Construction
• Agriculture
• Metal & Machinery Manufacturing
•  Automotive

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa