Global Fluid Power Equipment Market Extends at a Healthy CAGR of 7.00 by 2030

A fluid cylinder produces a force that causes linear motion, in contrast to a fluid engine's torque, which produces rotating motion. In a fluid power system, the necessary work is done by motors and cylinders, also called actuators. Valves and other control components regulate the system. Hydraulic equipment may provide more power with far less equipment when compared to electric, pneumatic, and other driving techniques. The market is characterized by an emphasis on machinery with a higher power density due to the demand for higher-pressure hydraulic equipment.

Market Dynamics

Rising Construction Activity and Increasing Demand for Material Handling Equipment Drives the Global Market

The market for hydraulic machinery benefits from the increase in demand for material handling equipment. The benefits of material handling equipment allow for swift movement, increasing production and efficiency. Taking away the need for manual labor and helping with the construction of storage facilities both contribute to reducing labor costs. The COVID-19 epidemic negatively impacted the construction industry, but it is projected that the sector will recover, resume operations, and benefit from government attempts to encourage sector growth. This will have a beneficial impact on consumer demand and sales of hydraulic equipment.

Automation's Emergence with Industry 4.0 Creates Tremendous Opportunities

The development of smart technology in machinery is influencing the demand for networked hydraulic equipment with intelligent interfaces, open communication standards, rapid networkability, and context integration in real-time. According to the 2021 Automation Solutions Survey Study, the COVID-19 pandemic, which has prompted the creation of fully automated solutions, has prompted many firms to look into the potential advantages of smart hydraulic equipment. As an illustration, Bosch Rexroth has a significant stake in the decentralized intelligence of motion controls for hydraulic machinery.

Regional Analysis 

Europe is the most significant shareholder in the global fluid power equipment market and is expected to grow at a CAGR of 5.80% during the forecast period. French Oil Mill Machinery Co. combines a robust patented taper essential side plate press design with incredibly reliable electrical and hydraulic systems to meet the tightest quality requirements in France's aerospace and defense applications. Numerous design features lengthen the press's lifespan and make it possible to produce more dependable parts of higher quality. Using pneumatic systems in hazardous environments is increasing the demand for technology. The demand for cutting-edge technologies is increasing along with European capital spending to keep the industrial sector competitive.

North America is anticipated to increase at a CAGR of 6.70%, generating USD 29,744.18 million during the forecast period. Cattle and calf products, corn, and soybeans are the top three agricultural products produced in the US. In 2020, there were slightly more than two million farms in the US, and 10.9% of jobs in the country are tied to agriculture. Additionally, hydraulic equipment manufacturers developed several strategies to expand their product line and enhance customer service to meet the increasing demand. The demand for value-added distributors with excellent account management, technical support, and the most recent catalog of parts, as well as cutting-edge e-commerce sites like Direct Pneumatics, which stock both new and hard-to-find parts, is increasing as a result of the rapid expansion of the market for pneumatics equipment.

The Asia-Pacific fluid power equipment market is anticipated to grow steadily during the forecast. The market vendors under consideration are likewise trying to seize these opportunities due to India's extraordinary rate of infrastructure development. The potential of the market under study is also growing due to the current appeal of electric vehicles (EV) and the expansion of robotics in the automotive sector. Furthermore, Japan is a global leader in IoT, automation, and healthcare, which is expected to boost demand for pneumatic systems there. The manufacturing industry in Japan also makes a substantial contribution to growth.

Key Highlights

• The global fluid power equipment market was valued at USD 56,688.30 million in 2021. It is projected to reach USD 104,219.13 million by 2030, growing at a CAGR of 7.00% during the forecast period (2022–2030).
• Based on product type, the global fluid power equipment market is bifurcated into hydraulics and pneumatics. The hydraulic equipment market segment is the highest contributor and is expected to grow at a CAGR of 5.80% during the forecast period.
• Based on equipment type, the global fluid power equipment market is bifurcated into pumps, motors, valves, cylinders, accumulators and filters, and others. The valves segment owns the highest market share and is expected to grow at a CAGR of 6.90% during the forecast period.
• Based on end-user verticals, the global fluid power equipment market is bifurcated into construction, agriculture, material handling, oil and gas, aerospace and defense, machine tools, hydraulic tools, and others. The construction segment is the highest contributor to the market and is expected to grow at a CAGR of 6.7% during the forecast period.
• Europe is the most significant shareholder in the global fluid power equipment market and is expected to grow at a CAGR of 5.80% during the forecast period.

Market Segments

1. By Equipment Type
   1. Pumps
   2. Motors
   3. Valves
   4. Cylinder
   5. Steel Tube and Compression Fitting
   6. Accumulators
   7. Accessories
2. By Product
   1. Hydraulic
   2. Hydraulic Pumps
   3. Hydraulic Motors
   4. Hydraulic Valves
   5. Hydraulic Cylinders
   6. Hydraulic Transmission
   7. Hydraulic Filters
   8. Hydraulic Accumulators
   9. Pneumatic
   10. Pneumatic Pumps
   11. Pneumatic Valves
   12. Pneumatic Actuators
   13. Pneumatic Filter Regulator Lubricator (FRLs)
   14. Pneumatic Fittings
   15. Others
3. By End-User Vertical
   1. Construction
   2. Agriculture
   3. Material Handling
   4. Oil and Gas
   5. Aerospace and Defense
   6. Machine Tools
   7. Hydraulic Tools
   8. Others