Fluid Power Equipment Market Size is Projected to Reach US$ 65.27 Billion by 2027, Industry CAGR 4.8% | IMARC Group
fluid power equipment market size reached US$ 41.76 Billion in 2021. By 2027, It will reach US$ 65.27 Billion, exhibiting CAGR of 7.50% during 2022-2027.
SHERIDAN, NEW YORK, USA, March 12, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled, “Fluid Power Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″, The global fluid power equipment market size reached a value of US$ 41.76 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 65.27 Billion by 2027, exhibiting a CAGR of 7.50% during 2022-2027.Fluid power equipment refer to industrial devices that use liquid or gas fluids to transmit and generate a considerable amount of power. They generally comprise numerous components, including fittings, sensors, seals, pumps, cylinders, hoses, gauges, filters, reservoirs, etc. Fluid power equipment are widely used for several tasks, such as boring new underground mining tunnels and lifting and stacking large glass sheets. They also offer multi-functional controls, including direction, speed, force, torque, etc., and aid in increasing accuracy, efficiency, overall production, etc.
Fluid Power Equipment Market Trends
The escalating demand for this device across various sectors, including mining, aerospace1, packaging, construction, and robotics, operating in hazardous environments is primarily augmenting the fluid power equipment market. Furthermore, it provides a high power-to-weight ratio and produces high torque at low speed, making the equipment suitable for such applications, which is also positively influencing the global market.
Apart from this, the increasing improvements in industrial machinery performance and lubricant life for lowering downtime and equipment maintenance costs, are acting as significant growth-inducing factors. Moreover, inflating investments by key market players to introduce energy-efficient solutions and reduce greenhouse gas (GHG) emissions are bolstering the market growth. Besides this, the growing usage of smart valves in fluid power equipment that assist in reducing power consumption, providing real-time information, offering greater efficiency, etc., is further catalyzing the global market. Additionally, the widespread product adoption for wastewater treatment, extensive R&D activities, and the expanding food and beverage (F&B) sector are expected to fuel the fluid power equipment market in the coming years.
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Competitive Landscape:
The competitive landscape of the fluid power equipment market has been studied in the report with the detailed profiles of the key players operating in the market.
Bosch Rexroth AG (Robert Bosch GmbH), Bucher Industries AG, Daikin Industries Ltd., Eaton Corporation PLC, Fluid Power Equipment Inc., HAWE Hydraulik SE, HYDAC International GmbH, Hydraforce Inc., Kawasaki Heavy Industries Ltd., Nachi-Fujikoshi Corp., Parker-Hannifin Corporation and Sparrows Offshore Group Limited.
The report has segmented the fluid power equipment market on the based on product, component and end user.
Breakup by Product:
Hydraulics
Pneumatics
Others
Breakup by Component:
Pumps
Motors
Valves
Cylinder
Accumulators and Filters
Others
Breakup by End User:
Agricultural
Aerospace
Automotive
Construction
Others
Breakup by Region:
North America:(United States, Canada
Asia-Pacific:(China, Japan, India, South Korea, Australia, Indonesia,Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia,Others)
Latin America;(Brazil,Mexico, Others)
Middle East and Africa
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Key Highlights of The Report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization
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