GITNUX MARKETDATA REPORT 2024

Hydraulic Components Industry Statistics

The hydraulic components industry is projected to experience steady growth in the coming years due to increasing demand for machinery and equipment across various sectors.

Statistic 1

"European hydraulic component markets are rebounding post-COVID-19 with an expected growth rate of 4%."

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Statistic 2

"The demand for eco-friendly hydraulic fluid is estimated to grow by 6.5% annually."

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Statistic 3

"The hydraulic valves segment is projected to witness a growth rate of 4.8%."

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Statistic 4

"The use of hydraulic systems in renewable energy applications is expected to expand by 5% annually."

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Statistic 5

"The industrial hydraulic segment is projected to grow at a CAGR of 3.9% from 2021 to 2028."

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Statistic 6

"The MRO (Maintenance, Repair, and Overhaul) services market for hydraulic components is valued at USD 8 billion."

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Statistic 7

"China is the largest producer and consumer of hydraulic components."

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Statistic 8

"Hydraulic pumps held a 40% share of the market in 2020."

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Statistic 9

"The Asia-Pacific region held the largest market share of over 35% in 2020."

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Statistic 10

"Latin America’s hydraulic components market is projected to grow at a CAGR of 3.5% from 2021 to 2026."

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Statistic 11

"By 2025, the market for hydraulic cylinders is set to reach USD 19 billion."

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Statistic 12

"Hydraulic filters, an essential part of hydraulic systems, have a market size of USD 1.1 billion."

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Statistic 13

"In 2020, mobile hydraulic applications accounted for more than 45% of the market share."

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Statistic 14

"The marine sector is expected to show a 3.7% growth in hydraulic component usage."

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Statistic 15

"North America is expected to witness significant growth due to advancements in agriculture and construction sectors."

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Statistic 16

"The global hydraulic components market size was valued at USD 43.4 billion in 2020."

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Statistic 17

"The mining industry accounts for approximately 15% of hydraulic component demand."

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Statistic 18

"The market is expected to expand at a CAGR of 4.3% from 2021 to 2028."

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Statistic 19

"The adoption of IoT in hydraulic systems can reduce maintenance costs by up to 25%."

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Statistic 20

"Construction and material handling applications accounted for more than 30% of the market share in 2020."

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