The Latest Hydraulic Equipment Industry Statistics Explained
The global hydraulic equipment market is expected to reach $57.03 billion by 2026, growing at a CAGR of 4.0% from 2021.
This statistic indicates that the global hydraulic equipment market is projected to grow steadily over the forecast period, with an expected value of $57.03 billion by the year 2026. The Compound Annual Growth Rate (CAGR) of 4.0% from 2021 suggests a consistent annual growth rate in market size. This growth is likely driven by factors such as increasing industrialization, infrastructure development, and automation across various sectors that utilize hydraulic equipment. The forecasted CAGR provides insight into the expected pace of expansion in the market, helping businesses and stakeholders understand the potential opportunities and challenges in the hydraulic equipment industry over the next few years.
Mobile hydraulics accounted for roughly 40% of the total hydraulic equipment market in 2019.
This statistic indicates that mobile hydraulics, which are hydraulics system components used in mobile machinery such as construction equipment, agricultural machinery, and transportation vehicles, represented approximately 40% of the entire hydraulic equipment market in the year 2019. This suggests that mobile applications were a significant driver of demand and consumption within the hydraulic equipment industry during that period. The prominence of mobile hydraulics in the market implies a strong reliance on hydraulic technology in the mobile machinery sector, highlighting the importance of hydraulic systems in enabling the functionality and operation of various types of mobile equipment.
The Asia-Pacific region is forecast to grow at the highest CAGR at 4.5% in the hydraulic equipment industry from 2021 to 2026.
This statistic indicates that based on the forecasted data, the Asia-Pacific region is expected to experience the highest Compound Annual Growth Rate (CAGR) of 4.5% in the hydraulic equipment industry from 2021 to 2026. This growth rate reflects the anticipated yearly rate at which the industry in this region is projected to expand over the specified time period. The forecast suggests that the Asia-Pacific region holds significant potential for growth and development in the hydraulic equipment sector, presenting potential opportunities for businesses, investors, and other stakeholders to capitalize on the growing market demand in this region.
Industrial hydraulics was a $19.4 billion market in 2019 with expected CAGR of 4.1% until 2027.
The statistic indicates that the global market size for industrial hydraulics was $19.4 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 4.1% until 2027. This implies that the market is expected to increase steadily over the forecast period, reaching a higher value by the end of 2027. The growth rate of 4.1% suggests a moderate but consistent expansion in the market for industrial hydraulics, driven by factors such as industrial automation, machinery manufacturing, and infrastructure development. Companies operating in this sector can use this information to make strategic decisions regarding investments, product development, and market expansion opportunities.
Europe accounted for 22% of the global hydraulic equipment market share in 2020.
The statistic indicates that Europe held a significant portion of the global market share for hydraulic equipment in 2020, accounting for 22% of the total market. This suggests that Europe plays a substantial role in the hydraulic equipment industry compared to other regions around the world. The market share percentage implies that European companies, manufacturers, and consumers are actively engaged in the use and production of hydraulic equipment, potentially dictating trends, influencing industry practices, and driving innovation within this sector. Additionally, the statistic highlights the importance of Europe as a key player in the global hydraulic equipment market, indicating the region’s impact on the overall industry landscape.
The U.S. accounted for the largest market share in North America, with nearly 86% in 2020.
This statistic indicates that the United States held the highest proportion of market share within the North American region in 2020, amounting to nearly 86%. This suggests that the U.S. dominated the market within the continent compared to other countries. It signifies a strong presence and influence of U.S. businesses and industries in North America during that period. Additionally, it implies that the U.S. likely played a significant role in driving economic activity, trade, and competition within the region due to its substantial market share.
In 2019, the hydraulic equipment market size was valued at $37.4 billion.
The statistic states that in 2019, the hydraulic equipment market had a total value of $37.4 billion. This suggests the total worth of all products and services related to hydraulic equipment within the market during that year. The market size is a key indicator of the economic significance and growth potential of the hydraulic equipment industry. The $37.4 billion figure provides insights into the scale and scope of the market, serving as a reference point for businesses, investors, and policymakers in understanding the industry’s overall performance and value within the global economy.
The hydraulic equipment market in India is set to experience a growth rate of 12% by 2025.
The statistic indicates that the hydraulic equipment market in India is expected to grow at a rate of 12% by the year 2025. This growth rate suggests a positive trend in the industry, indicating an increasing demand for hydraulic equipment in various sectors such as manufacturing, construction, and agriculture. Factors driving this growth could include technological advancements, industrial development, and infrastructure projects across the country. This statistic provides valuable insights for businesses operating in the hydraulic equipment market, enabling them to anticipate market trends, make strategic decisions, and capitalize on potential opportunities for growth and expansion in the Indian market.
Hydraulic cylinder market is predicted to be the most lucrative segment among all hydraulic equipment with CAGR of 5.1% in between 2019 – 2026.
The statistic indicates that the hydraulic cylinder market is forecasted to be the most profitable segment within the hydraulic equipment industry, showcasing a Compound Annual Growth Rate (CAGR) of 5.1% between 2019 and 2026. This prediction suggests that demand for hydraulic cylinders, which are critical components in various machinery and industrial applications, is expected to grow steadily over the specified period. The CAGR of 5.1% reflects the anticipated annualized growth rate of the market during this timeframe, indicating a positive outlook and potentially attractive investment opportunities in the hydraulic cylinder sector for businesses and stakeholders.
Hydraulic pumps segment accounted for 34.5% market share in 2019.
The statistic indicates that the hydraulic pumps segment held a market share of 34.5% in the year 2019 within the overall market being analyzed. This suggests that hydraulic pumps were a significant player in the market during that year, capturing over a third of the total market share. This information is crucial for understanding the competitive landscape and the relative importance of hydraulic pumps compared to other segments within the industry. It also serves as a useful benchmark for companies operating within this segment to evaluate their market position and track their performance over time.
The global hydraulic components market is expected to grow by $13.83 billion during 2021-2025, at a CAGR of about 6%.
The statistic indicates that the global hydraulic components market is projected to experience significant growth over the period of 2021 to 2025, with an expected increase of $13.83 billion in market size. This growth is estimated to occur at a compound annual growth rate (CAGR) of approximately 6%. This forecast suggests a steady expansion in the demand for hydraulic components worldwide, which are essential in various industries such as construction, agriculture, and manufacturing. The positive growth outlook highlights potential opportunities for businesses operating in the hydraulic components market and signifies a favorable market environment for investment and expansion strategies.
Construction industry accounted for the largest share of the hydraulic equipment market in 2017, with over 35% share.
The statistic indicates that in 2017, the construction industry held the most significant portion of the hydraulic equipment market, accounting for over 35% of the total market share. This suggests that the construction sector was the leading consumer of hydraulic equipment such as hydraulic pumps, cylinders, valves, and hoses during that period. The high market share attributed to the construction industry highlights its heavy reliance on hydraulic machinery for various applications such as lifting, excavating, and material handling. This data is crucial for manufacturers and stakeholders in the hydraulic equipment market to understand the industry trends and tailor their strategies to cater to the specific needs and demands of the construction sector.
The marine application is forecast to grow at a significant CAGR of 4.8% from 2020 to 2027 in the hydraulic equipment market.
This statistic indicates that the marine application sector within the hydraulic equipment market is projected to experience a Compound Annual Growth Rate (CAGR) of 4.8% from 2020 to 2027. This forecast suggests that there is expected growth in demand for hydraulic equipment specifically within the marine industry over the next seven years. A CAGR of 4.8% indicates a consistent annual growth rate, highlighting the potential for expansion and market opportunities in the marine application segment of the hydraulic equipment market. This growth may be driven by factors such as increasing maritime activities, technological advancements in hydraulic equipment for marine applications, and a rising focus on efficiency and sustainability in the marine industry.
By 2023, the hydraulic filter market is expected to reach an estimated $6.8 billion.
The statistic “By 2023, the hydraulic filter market is expected to reach an estimated $6.8 billion” indicates a projected value for the global hydraulic filter market by the year 2023. This forecast suggests significant growth in the market, driven by factors such as increasing industrial automation, growing environmental regulations, and expanding applications of hydraulic systems in various industries. The estimated value of $6.8 billion signals a substantial market opportunity for manufacturers and suppliers of hydraulic filters, highlighting the importance of these filtration components in maintaining the efficiency and reliability of hydraulic systems across different sectors. This statistic serves as a valuable insight for businesses and investors looking to capitalize on the expanding market for hydraulic filters.
The hydraulic equipment market in Middle East & Africa is projected to expand at a comparatively lower CAGR of 2.2% between 2019 and 2027.
The statistic indicates that the hydraulic equipment market in the Middle East & Africa region is expected to grow at a Compound Annual Growth Rate (CAGR) of 2.2% from 2019 to 2027, which suggests a relatively slow expansion pace over the forecast period. This lower CAGR could be attributed to various factors such as economic conditions, market saturation, fluctuating demand, or regulatory constraints within the region. Despite the slower growth rate, the market is still anticipated to experience some level of expansion, providing opportunities for businesses operating in the hydraulic equipment industry in the Middle East & Africa.
The agricultural application of hydraulic equipment is projected to expand at a CAGR of 2.8% during the forecast period 2019 – 2027.
This statistic indicates that the use of hydraulic equipment in agricultural activities is expected to grow at a Compound Annual Growth Rate (CAGR) of 2.8% between the years 2019 and 2027. This projected expansion suggests a positive trend in adopting hydraulic technology in farming practices, such as machinery and irrigation systems. The forecasted CAGR of 2.8% represents the average annual growth rate over the specified period, highlighting a steady increase in the application of hydraulic equipment within the agricultural sector. This growth can be driven by factors such as technological advancements, efficiency gains, and increased automation in farming operations.
As of 2019, the stationary hydraulic equipment market had an estimated value of $16 billion.
The statistic indicates that in the year 2019, the stationary hydraulic equipment market was valued at approximately $16 billion. This figure represents the total estimated value of all stationary hydraulic equipment sold or in use within that market during that year. Stationary hydraulic equipment includes a wide range of machinery and tools that utilize hydraulic power for various industrial applications, such as lifting, pressing, cutting, and shaping. The $16 billion valuation suggests a significant market size and underscores the importance of hydraulic equipment in various industries such as manufacturing, construction, and agriculture. Understanding the market value provides insights into the economic impact, scale, and demand for stationary hydraulic equipment in 2019.
Conclusion
The statistics presented in the hydraulic equipment industry reveal a promising outlook for growth and innovation. With increasing demand for efficient machinery across various sectors, investments and advancements in hydraulic technology are expected to drive the market forward. Stay tuned for further insights and updates on this dynamic industry.
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