Hydraulic Components Market Size, Technological Advancements & Competitive Insights to 2022
The increasing demand for energy efficient hydraulic equipment is estimated to drive the global hydraulic components market growth over the forecast period.
The increasing demand for energy efficient hydraulic equipment is estimated to drive the global hydraulic components market growth over the forecast period.
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<strong>Hydraulic</strong> <strong>Components</strong> <strong>Market</strong> <strong>Size</strong>, <strong>Technological</strong><br />
<strong>Advancements</strong> & <strong>Competitive</strong> <strong>Insights</strong> <strong>to</strong> <strong>2022</strong><br />
“The increased expansions and investments in core<br />
sec<strong>to</strong>rs such as, steel, infrastructure, mining, oil &<br />
gas as well as cement is driving the market for<br />
ancillary products including hydraulic<br />
components.”<br />
The increasing demand for energy efficient hydraulic equipment is estimated <strong>to</strong> drive the global hydraulic components<br />
market growth over the forecast period. Cutting costs and increased efficiency of the industrial machinery and systems<br />
can be achieved through hydraulic components. Energy consumption is often the major contribu<strong>to</strong>r <strong>to</strong> overall costs of<br />
owning and operating industrial plants and machinery. On average, energy consumption accounts for between 20 and<br />
30% of <strong>to</strong>tal equipment operating costs. And in energy-intensive hydraulic applications, the share of energy costs are<br />
often far greater.<br />
Due <strong>to</strong> lower energy consumption, another benefit is that the hydraulic fluid does not heat up excessively. It is<br />
possible <strong>to</strong> eliminate heat exchangers or fans <strong>to</strong> cool the power unit. This fac<strong>to</strong>r can reduce the system’s up-front costs<br />
and complexity resulting in a more compact design. The increased expansions and investments in core sec<strong>to</strong>rs such as,<br />
steel, infrastructure, mining, oil & gas as well as cement is driving the market for ancillary products including<br />
hydraulic components.<br />
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The rapid boom in Infrastructure industry with growing manufacturing sec<strong>to</strong>r is anticipated <strong>to</strong> increase the demand for<br />
hydraulic component. For instance government of India planned <strong>to</strong> invest USD 45 trillion in infrastructure
development therefore boosting the demand for construction equipment and hydraulic components such as smooth<br />
lifting and lowering of loads. Au<strong>to</strong>mation manufacturing sec<strong>to</strong>r is estimated <strong>to</strong> witness high growth owing <strong>to</strong> growth<br />
in sales and product capacity expansion which is expected <strong>to</strong> positively affect the demand for hydraulics components.<br />
Consumer -manufacturing growth is driven by increase in disposable income by consumers, lower household debt<br />
burdens and employment gains.<br />
Increasing demand for enhanced productivity, <strong>to</strong> conserve energy and reduce downtime has been the main objective of<br />
au<strong>to</strong>mation manufacturers. <strong>Hydraulic</strong> components are designed <strong>to</strong> support au<strong>to</strong>mation processes in various industries.<br />
Emerging economies such as middle east, Latin America and Asia are expected <strong>to</strong> witness a significant growth in<br />
manufacturing, industrialization and infrastructure thereby driving the hydraulic market growth. Improving<br />
infrastructure in logistics and transportation coupled with increasing use of hydraulic equipment for material handling<br />
in these sec<strong>to</strong>rs are expected <strong>to</strong> be the key opportunities for industry participants. Significant demand for material<br />
handling equipment such as dock levers, scissor lifts, and fork lifts with expansion of warehouses facilities are<br />
expected <strong>to</strong> drive the demand for hydraulic components like pis<strong>to</strong>ns and cylinders.<br />
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Absence of reliable suppliers for hydraulic components along with low availability of raw materials are expected <strong>to</strong><br />
pose a major challenge for the market growth. 50% of <strong>to</strong>tal cost in hydraulic components account for raw materials.<br />
Scarcity of materials incurs high cost for the manufacturers thus affecting their profit margins. Competition from<br />
various other sec<strong>to</strong>rs restrains the market growth rate. Many developed countries are following the trend <strong>to</strong> source<br />
manufacturing activities from other countries at a low cost. Thus emerging economies such as India, china and Korea<br />
are gaining momentum with the presence of skilled manpower, and experience in manufacturing in these regions.<br />
Based on the product type the global hydraulic component market is divided in<strong>to</strong> power packs, cylinders, valves,<br />
accessories, and pumps. Each segment is further segmented in<strong>to</strong> sub segments. Cylinders contribute largest market<br />
among other hydraulic components. It has many applications, notably in, manufacturing machinery, construction<br />
equipment (engineering vehicles) and civil engineering and also helps in unidirectional force. Power packs are<br />
expected <strong>to</strong> have the fastest growing rate. Based on equipment type the global market is segmented in<strong>to</strong> mobile<br />
hydraulic equipment and stationery hydraulic equipment. Largest market share is contributed by mobile hydraulic<br />
component. These components are designed <strong>to</strong> deliver precise functions and are widely used in telehandler, forklift,<br />
wheel loader and forest machine. stationery equipment are used in beneficiation machines mills and crushers.<br />
<strong>Hydraulic</strong>s is a fine ex<strong>amp</strong>le of versatility of simple mechanical engineering principles. It has numerous applications<br />
including, foundries, industrial au<strong>to</strong>mation, construction, , paper, aviation, rubber and defense. <strong>Hydraulic</strong> components<br />
are significantly used in construction and industrial au<strong>to</strong>mation. Aviation and defense are expected <strong>to</strong> be the fastest<br />
growing segment for these components. Europe is expected <strong>to</strong> represent the largest market globally. Industrialization<br />
and increasing au<strong>to</strong>mation sec<strong>to</strong>r is expected <strong>to</strong> drive the market growth in this region. Asia pacific is estimated <strong>to</strong><br />
emerge as the fastest growing market. Mechanization of agriculture coupled with investment in agriculture au<strong>to</strong>mation<br />
is expected <strong>to</strong> drive the market in emerging economies. China introduced a policy <strong>to</strong> promote R&D and production of<br />
hydraulic components.<br />
Key players in the global market include Daikin industries ltd, Parker Hannifin Corporation, jiansu hengli high<br />
pressure oil cylinder ltd, Avic liyuan hydraulic co.ltd, Kawasaki heavy industries co.ltd. Other industry participants are
weber-hydraulik gmbh, wipro infrastructure engineering ltd, yuken kogyo co ltd and nabtesco corporation. Parker<br />
Hannifin corporation introduced the latest CAD technology <strong>to</strong> launch advanced hydraulics products in<strong>to</strong> the market.<br />
<strong>Market</strong> Segment<br />
Geographically, this report is segmented in<strong>to</strong> several key Regions, with production, consumption, revenue<br />
(million USD), market share and growth rate of <strong>Hydraulic</strong> <strong>Components</strong> in these regions, from 2012 <strong>to</strong> <strong>2022</strong><br />
(forecast), covering<br />
• North America<br />
• Europe<br />
• China<br />
• Japan<br />
• Southeast Asia<br />
• India<br />
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Global <strong>Hydraulic</strong> <strong>Components</strong> market competition by <strong>to</strong>p manufacturers, with production, price, revenue<br />
(value) and market share for each manufacturer; the <strong>to</strong>p players including<br />
• Ea<strong>to</strong>n<br />
• Weber-Hydraulik<br />
• Bosch Rexroth<br />
• Hydratech Industries<br />
• Pacoma<br />
• Cromsteel(ASO)<br />
• Nurmi <strong>Hydraulic</strong>s<br />
• Parker<br />
• Ligon Industries
• Caterpillar<br />
• Enerpac<br />
• Wipro Enterprises<br />
• KYB<br />
• DY Power<br />
• Komatsu<br />
• Hunan Teli<br />
• Hengli<br />
• Bengbu Yeli<br />
• Hubei Jiaheng<br />
• Changjiang <strong>Hydraulic</strong><br />
On the basis of product, this report displays the production, revenue, price, market share and growth rate of<br />
each type, primarily split in<strong>to</strong><br />
• Cylinder Barrel<br />
• Pis<strong>to</strong>n<br />
• Pis<strong>to</strong>n Rod<br />
• Other<br />
On the basis on the end users/applications, this report focuses on the status and outlook for major<br />
applications/end users, consumption (sales), market share and growth rate of <strong>Hydraulic</strong> <strong>Components</strong> for each<br />
application, including<br />
• Single Acting Cylinders<br />
• Double Acting Cylinders<br />
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