Hydraulics Market: An In-Depth Look at the Current State and Future Outlook
The Global Hydraulics Market report presents comprehensive information covering insightful data for businesses and investors. The report studies the historical data of the Hydraulics Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
The global hydraulics market size reached USD 41.72 Billion in 2021 and is expected to register a revenue CAGR of 2.7% during the forecast period, according to latest analysis by Emergen Research. Rising trend of automation in various industries and increasing need for smart hydraulic equipment are key factors driving market revenue growth.
Continuous technological advancements in hydraulic systems such as more advanced valves, sensors, and actuators is another major factor expected to drive revenue growth of the global market. Using the benefits offered by hydraulic systems and incorporating with other innovative and enhanced technologies can help to monitor the equipment while it is in operation. This ensures smooth functioning of the equipment and makes it possible to predict equipment maintenance.
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The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
Some Key Highlights from the Report
Pump segment is expected to register a steady revenue growth rate over the forecast period due to increasing adoption of hydraulic pumps in lifting, lowering, and rotating components in various industrial operations. These pumps are mainly used to transform mechanical energy into hydraulic energy. Oil & gas segment is expected to register robust revenue growth rate over the forecast period owing to high demand for hydraulic systems in the oil & gas sector for various operations. Oil and gas drilling are energy-intensive operations that rely heavily on hydraulic systems. Hydraulic rigs are also useful in various oilfield applications such as well control, well service, and workovers process. Market in North America is expected to register significantly fast revenue growth rate during the forecast period. This can be attributable to rising number of construction activities in residential and commercial sectors as well as infrastructural developments in countries in the region, which is creating high demand for hydraulics equipment. Some major companies operating in the global market report include Parker Hannifin Corporation, KYB Corporation, SMC Corporation, Bosch Rexroth AG, Danfoss Group, Eaton Corporation, Siemens AG, Komatsu Limited, Daikin Industries Ltd., and Kawasaki Heavy Industries Ltd.
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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Hydraulics industry.
Emergen Research has segmented the global hydraulics market on the basis of component, type, end-use, and region:
· Component Outlook (Revenue, USD Billion; 2019-2030)
Motors Valves Cylinders Pumps Accumulators Transmission Others · Type Outlook (Revenue, USD Billion; 2019-2030)
Industrial Hydraulics Mobile Hydraulics · End-Use Outlook (Revenue, USD Billion; 2019-2030)
Construction Agriculture Aerospace Automotive Metal & Machinery Oil & Gas Others The complete regional analysis covers:
North America (U.S., Canada, Mexico Europe (U.K., Italy, Germany, France, Rest of EU) Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC) Latin America (Chile, Brazil, Argentina, Rest of Latin America) Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA) Request customization of the report @ https://www.emergenresearch.com/request-for-customization/1067
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Finally, all aspects of the Hydraulics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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