Global Fluid Power Equipment Market, By Type (Hydraulic, and Pneumatic), Component (Pumps, Motors, Valves, Cylinder, Steel Tube and Compression Fitting, Accumulators, and Accessories), Application (Construction, Automotive, Oil and Gas, Food Processing, Packaging, Semiconductor, and Others) – Industry Trends and Forecast to 2031.
Fluid Power Equipment Market Analysis and Size
In manufacturing, fluid power equipment plays a pivotal role in enhancing operational efficiency and productivity. Hydraulic and pneumatic systems are widely employed for tasks such as material handling, assembly line automation, and machine tool operation. Hydraulic presses, cylinders, and actuators enable precise and powerful force application, facilitating tasks such as stamping, forming, and molding of materials. Pneumatic systems are utilized for quick and responsive actuation in applications such as clamping, gripping, and positioning of workpieces.
The global fluid power equipment market size was valued at USD 45.03 billion in 2023 and is projected to reach USD 71.34 billion by 2031, with a CAGR of 5.92% during the forecast period of 2024 to 2031.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Hydraulic, Pneumatic), Component (Pumps, Motors, Valves, Cylinder, Steel Tube and Compression Fitting, Accumulators, Accessories), Application (Construction, Automotive, Oil and Gas, Food Processing, Packaging, Semiconductor, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific , Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina and rest of South America
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Market Players Covered
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Bosch Rexroth Corporation (Germany), Eaton (Ireland), Parker Hannifin Corp (U.S.), Kawasaki Heavy Industries, Ltd. (Japan), Fluid-Power Equipment Inc (U.S.), Sparrows Offshore Group Limited (U.K.), Fluid Systems, Inc. (U.S.), HYDAC (India), HAWE Hydraulik SE (Germany), Moog Inc. (U.S.), Bucher Hydraulics GmbH (Germany), DAIKIN INDUSTRIES, Ltd. (Japan), CASAPPA S.p.A. (Italy), Applied Industrial Technologies (U.S.), CIRCOR International (U.S.), Crane Co. (U.S.), Flowserve Corporation (U.S.), Graco Inc. (U.S.), Christian Bürkert GmbH & Co. KG (Germany), and Dover Corporation (U.S.)
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Market Opportunities
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Market Definition
Fluid power equipment refers to machinery and systems that utilize fluids, typically liquids or gases, to transmit power. This includes hydraulic systems, which use liquid (usually oil), and pneumatic systems, which use compressed air or gas. Fluid power equipment is widely employed in various industries for tasks such as lifting, moving, and controlling machinery, offering advantages such as high power density, precise control, and versatility in application.
Fluid Power Equipment Market Dynamics
Drivers
- Increasing Technological Advancements
Technological advancements continuously improves the efficiency, performance, and capabilities of hydraulic and pneumatic systems. Innovations such as advanced materials, precision engineering, and smart control systems enhance the reliability and functionality of fluid power components and systems. Miniaturization and integration of components enable more compact and lightweight designs, expanding the range of applications and increasing flexibility in system implementation. Advancements in predictive maintenance, condition monitoring, and remote monitoring technologies improve the reliability and lifespan of fluid power equipment, reducing downtime and maintenance costs for end-users. For instance, in September 2021, Linde Hydraulics GmbH & Co. KG launched its latest innovation in fluid power equipment: the next-generation control valves, exemplified by the modular valve block VW 22/18 M5-03 for open circuits. This advancement, featuring a modular system, including a Monoblock with five sections plus a pressure relief section as the base configuration, addresses the demand for flexibility and customization in fluid power systems.
- High Infrastructure Development
Construction projects, including building construction, road and bridge infrastructure, and utility installations, require the use of fluid power equipment for tasks such as earthmoving, lifting, and material handling. Additionally, fluid power systems are essential in infrastructure sectors such as transportation (rail, marine, and aviation) and energy (power generation, oil and gas), where hydraulic and pneumatic machinery play vital roles in operations such as vehicle propulsion, equipment positioning, and power transmission. The growing demand for infrastructure development globally, particularly in emerging economies, fuels the need for fluid power equipment, driving market growth and innovation in the sector.
Opportunities
- Growing Automotive Industry
Fluid power components play crucial roles in various automotive applications, including power steering, braking systems, suspension systems, and automated transmission. As the automotive sector continues to expand globally, driven by factors such as rising population, urbanization, and increasing disposable income, the demand for fluid power equipment is expected to grow in tandem. Stringent safety and performance standards in the automotive industry necessitate reliable and efficient fluid power solutions, further boosting market demand.
- Rising Energy Efficiency Regulations
Energy efficiency regulations, aimed at reducing energy consumption and environmental impact, encourage the use of fluid power equipment known for its high power density and precise control, leading to improved energy efficiency in industrial processes. Compliance with these regulations often necessitates the replacement or upgrade of outdated equipment with modern, energy-efficient fluid power systems, driving market demand. Moreover, as sustainability becomes a priority for businesses, fluid power equipment offers a viable solution to meet regulatory requirements while reducing operational costs and environmental footprint, further stimulating market growth and adoption.
Restraints/Challenges
- High Initial Cost
The upfront investment required for purchasing hydraulic and pneumatic systems, along with associated components and installation expenses, can be prohibitive for many businesses, especially smaller enterprises with limited budgets. This financial barrier may deter companies from investing in fluid power solutions, opting for cheaper alternatives or delaying upgrades. Additionally, the long-term benefits of energy efficiency and productivity gains associated with fluid power equipment may not always offset the initial investment costs immediately, further dissuading potential buyers.
- Competition from Electric Systems
Electrically powered alternatives, such as servo motors and electric actuators, offer advantages such as potentially lower energy consumption, simpler maintenance requirements, and precise control in certain applications. These systems appeal to industries seeking to reduce operating costs and enhance efficiency, posing a challenge to traditional hydraulic and pneumatic solutions. Additionally, advancements in electric technology, including developments in motor efficiency and control, continue to narrow the performance gap between electric and fluid power systems, further intensifying competition and potentially limiting the growth of the fluid power equipment market.
This market, report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In December 2021, Danfoss launched a multi-axis steering system aimed at enhancing maneuverability and productivity for farm and construction equipment OEMs. This technology, driven by a software-based electro-hydraulic valve, enables independent control of front and rear axles from the vehicle's cab, facilitating tighter turns and high-visibility crabbing. Initially deployed in European vineyard tractors and EU construction and material handling equipment, the system promises improved operational efficiency in confined spaces
- In May 2021, Bosch Rexroth launched the Hägglunds Atom hydraulic motor, a fast and power-dense alternative to the existing Hägglunds CAb. This motor offers increased revolutions per minute and enhanced power within a compact footprint, making it suitable for mobile, marine, and recycling applications. The Hägglunds Atom's superior performance in a smaller size presents a promising solution for industries requiring high power density and efficiency
- In December 2020, Parker Hannifin lunched the PCH Network Portal, designed to facilitate global factory automation within the company. This portal enables communication with various industrial controllers in the automation sector and supports multiple Industrial Ethernet communication protocols. With capabilities to integrate seamlessly into existing automation infrastructures, the PCH Network Portal offers enhanced connectivity and interoperability for streamlined manufacturing operations
Fluid Power Equipment Market Scope
The market is segmented on the basis of type, component and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Type
- Hydraulic
- Hydraulic Pumps
- Hydraulic Motors
- Hydraulic Valves
- Hydraulic Cylinders
- Hydraulic Transmission
- Hydraulic Filters
- Hydraulic Accumulators
- Pneumatic
- Pneumatic Pumps
- Pneumatic Valves
- Pneumatic Actuators
- Pneumatic Filter Regulator Lubricator (FRLs)
- Pneumatic Fittings
- Others
Component
- Pumps
- Motors
- Valves
- Cylinder
- Steel Tube and Compression Fitting
- Accumulators
- Accessories
Application
- Construction
- Automotive
- Oil and Gas
- Food Processing
- Packaging
- Semiconductor
- Others
Fluid Power Equipment Market Analysis/Insights
The market is analysed and market size insights and trends are provided by country, type, component and application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market due to the region boasts a robust foundation of semiconductor and electronics facilities, fostering innovation and driving demand for fluid power equipment in manufacturing processes. North America is home to major players in the market, benefitting from their established presence and expertise, which enhances supply chains and technological advancements. This combination of industry infrastructure and market leadership positions North America as a powerhouse in the fluid power equipment sector on the global stage.
Asia-Pacific is expected to grow during the forecast period due to heightened government initiatives fostering awareness, the burgeoning automotive sector, increased research endeavors, access to vast untapped markets, and the region's sizable population. These dynamics collectively create a conducive environment for robust market development and penetration in the fluid power equipment sector within the Asia-Pacific region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Fluid Power Equipment Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are
- Bosch Rexroth Corporation (Germany)
- Eaton (Ireland)
- Parker Hannifin Corp (U.S.)
- Kawasaki Heavy Industries, Ltd. (Japan)
- Fluid-Power Equipment Inc (U.S.)
- Sparrows Offshore Group Limited (U.K.)
- Fluid Systems, Inc. (U.S.)
- HYDAC (India)
- HAWE Hydraulik SE (Germany)
- Moog Inc. (U.S.)
- Bucher Hydraulics GmbH (Germany)
- DAIKIN INDUSTRIES, Ltd. (Japan)
- CASAPPA S.p.A. (Italy)
- Applied Industrial Technologies (U.S.)
- CIRCOR International (U.S.)
- Crane Co. (U.S.)
- Flowserve Corporation (U.S.)
- Graco Inc. (U.S.)
- Christian Bürkert GmbH & Co. KG (Germany)
- Dover Corporation (U.S.)
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