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

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

LONDON, GREATER LONDON, UK, August 19, 2024 /EINPresswire.com/ -- The hydraulics market has experienced robust growth in recent years, expanding from $40.74 billion in 2023 to $42.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to increasing use of hydraulic fluids, increasing use of hydraulic systems in the aerospace industry, demand for hydraulic systems in the marine industry, rise in the use of hydraulic systems in the oil and gas industry, growing demand for hydraulic systems in the manufacturing industry, and increasing use of hydraulic systems in the transportation industry.

Strong Future Growth Anticipated
The hydraulics market is projected to continue its strong growth, reaching $51.38 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to government initiatives for infrastructure repair and modernization, demand for high-efficiency and high-performance hydraulic systems, urbanization and smart cities, significant investments in research and development, and focus on improving the lifespan and reliability of hydraulic components.

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Growth Driver Of The Hydraulics Market
The growing infrastructure development projects are expected to propel the growth of the hydraulics market going forward. Growing infrastructure development projects are attributed to rapid urbanization, economic growth, government initiatives, technological advancements, modernization, environmental concerns, globalization, population growth, private sector participation, improved financing options, and resilience planning against natural disasters. Hydraulic technology is indispensable in infrastructure development because it enables the construction, maintenance, and management of various structural projects.

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Major Players And Market Trends
Key players in the hydraulics market include Caterpillar Inc, Komatsu Ltd, Eaton Corporation, Parker Hannifin Corporation, Kawasaki Heavy Industries Ltd., Webtec Products Limited.
Major companies operating in the hydraulics market are developing innovative hydraulic components to boost efficiency, reliability, and performance. Hydraulic components refer to pumps, valves, and cylinders essential for transmitting power through fluid pressure.

Segments:
1) By Product Type: Hydraulic Pumps, Hydraulic Motors, Hydraulic Cylinders, Hydraulic Valves, Hydraulic Filters, Other Product Types
2) By Application: Construction, Agriculture, Automotive, Aerospace, Oil And Gas, Mining, Marine, Other Applications
3) By End-User: Original Equipment Manufacturers (OEMS), Aftermarket

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the hydraulics market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Hydraulics Market Definition
Hydraulics refers to a branch of science and engineering concerned with using liquids to generate, control, and transmit power. It involves the transmission of force through confined, pressurized fluid to accomplish lifting heavy objects or controlling machinery. Hydraulic systems are used in various industries due to their efficiency and versatility in power transmission.

Hydraulics Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• 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 Hydraulics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on hydraulics market size, hydraulics market drivers and trends, hydraulics market major players, hydraulics competitors' revenues, hydraulics market positioning, and hydraulics market growth across geographies. The hydraulics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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