The Global Hydraulics Market size is expected to reach $54.9 billion by 2030, rising at a market growth of 3.7% CAGR during the forecast period.
Tractors often use hydraulic systems for lifting and lowering implements, such as plows, harrows, and seeders. Therefore, the agriculture segment captured $2,950.8 million revenue in the market in 2022. The hydraulic lift allows farmers to adjust the height of the implements easily, optimizing their performance during different stages of the farming process. In livestock handling, hydraulic systems are often employed in squeeze chutes. These chutes are used for safely restraining animals during procedures such as vaccinations and health checks. Many modern tractors are equipped with hydraulic power steering systems. This makes steering more responsive and requires less physical effort from the operator, enhancing overall maneuverability.
Construction projects involve using heavy machinery such as excavators, bulldozers, cranes, and loaders. Hydraulic systems are critical in these machines, providing the power and precision needed for various operations. Hydraulic systems contribute to efficient material handling in construction sites. Equipment like forklifts and conveyor systems use hydraulics to lift, lower, and transport materials. Cranes are fundamental in construction for lifting and positioning heavy materials. Hydraulic systems play a crucial role in controlling the movements of crane booms, providing stability and precision. Additionally, growing investments in renewable energy projects worldwide contribute to the demand for hydraulic components. Governments, businesses, and utilities are increasingly focused on transitioning to cleaner energy sources, driving the expansion of renewables. Hydraulic systems are used in offshore wind farms for tasks such as adjusting the pitch of the turbine blades and installing and maintaining wind turbine components. Due to the above-mentioned factors, the market is expected to grow significantly in the coming years.
However, high manufacturing costs make hydraulic systems and components less competitive than alternative technologies or lower-cost solutions. This may limit the adoption of hydraulic systems, particularly in price-sensitive markets. Small and medium-sized enterprises (SMEs) may face difficulties adopting hydraulic systems due to the financial burden of high manufacturing costs. This could limit their ability to invest in advanced hydraulic technology. High maintenance costs can dissuade end-users from adopting hydraulic systems, as ongoing operational expenses play a significant role in the total cost of ownership. Maintenance-intensive systems may be less cost-effective. The adoption of substitute products can influence industry standards and specifications. If certain substitutes become widely accepted, they may influence the development of new projects and industry norms, potentially sidelining hydraulic solutions. As a result, the above aspects will cause the market growth to decline.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Drivers 
Restraints On the basis of type, the market is fragmented into mobile and industrial. The industrial segment acquired a substantial revenue share in 2022. Industrial hydraulics play a crucial role in automation and Industry 4.0 initiatives. Their adaptability to automation technologies allows for integrating hydraulic systems into smart factories and interconnected industrial processes. Modern industrial hydraulic systems are designed for energy efficiency, incorporating variable-speed pumps and load-sensing technologies to optimize energy consumption and reduce operational costs. Industrial hydraulics offer high power density, allowing them to generate substantial force within a compact and efficient system. This is particularly advantageous in industrial applications with crucial space and weight considerations.
Based on components, the market is segmented into motors & pumps, cylinder, valves, transmissions, accumulators, filters, and others. In 2022, the cylinder segment held the highest revenue share in the market. Hydraulic cylinders convert hydraulic energy into linear motion, allowing for controlled and precise movement along a straight path. This linear motion is essential in applications such as lifting, pushing, pulling, and positioning in various industrial processes. Hydraulic cylinders provide precise control over the speed and position of the moving components. The system's flow control valves and other hydraulic components enable fine-tuning of the cylinder's movements, contributing to accurate and repeatable processes. Hydraulic cylinders are relatively easy to install and integrate into hydraulic systems. Their straightforward design and standardized interfaces make them convenient for manufacturers and system integrators.
By end user, the market is classified into construction, aerospace, material handling, agriculture, mining, automotive, marine, metals & machinery manufacturing, oil & gas, and others. The oil & gas segment covered a considerable revenue share in 2022. Hydraulic systems provide vertical movement of the drilling string, allowing for efficient drilling operations in oil and gas wells. Offshore platforms often use hydraulic cranes for material handling and lifting operations. These cranes are essential for loading and unloading cargo and equipment. Various valves in the oil and gas industry, including gate valves and ball valves, are actuated by hydraulic systems. This automation is critical for controlling flow and ensuring safety.
Free Valuable Insights: Global Hydraulics Market size to reach USD 54.9 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The North America region garnered a significant revenue share in 2022. Ongoing construction projects, infrastructure development, and the need for heavy machinery drive the demand for hydraulic components. Excavators, loaders, and other construction equipment rely on hydraulic systems for efficient operation. The increasing adoption of industrial automation in North American industries contributes to the demand for hydraulic systems. Automated machinery often relies on hydraulics for precise control and efficient operation.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 41.2 Billion |
| Market size forecast in 2030 | USD 54.9 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 3.7% from 2023 to 2030 |
| Number of Pages | 289 |
| Number of Tables | 450 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Component, End User, Region |
| Country scope |
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| Companies Included | Enerpac Tool Group Corp., The Danfoss Group, HYDAC International GmbH, Kawasaki Heavy Industries, Ltd., SMC Corporation, Parker Hannifin Corporation, Wipro Limited, Caterpillar, Inc., Bosch Rexroth AG (Robert Bosch GmbH), KYB corporation |
By End User
By Type
By Component
By Geography
The Market size is projected to reach USD $54.9 billion by 2030.
Growing construction and infrastructure development are driving the Market in coming years, however, High manufacturing and maintenance costs restraints the growth of the Market.
Enerpac Tool Group Corp., The Danfoss Group, HYDAC International GmbH, Kawasaki Heavy Industries, Ltd., SMC Corporation, Parker Hannifin Corporation, Wipro Limited, Caterpillar, Inc., Bosch Rexroth AG (Robert Bosch GmbH), KYB corporation
The expected CAGR of this Market is 3.7% from 2023 to 2030.
The Mobile segment is leading the Market by Type in 2022; thereby achieving a market value of $40.5 billion by 2030.
The Asia Pacific region is anticipating the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $21.3 billion by 2030.
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