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Hydraulic Equipment Market to Garner $51.65 Bn, Globally, by 2027 at 3.8% CAGR, Says Allied Market Research

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Allied Market Research

03 Dec, 2020, 13:00 GMT

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- Adoption of mechanized agricultural equipment and growing industrialization drive the global hydraulic equipment market

PORTLAND, Ore., Dec. 3, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Hydraulic Equipment Market by Application (Mobile and Industrial), End User (Mining & Construction, Agriculture & Forestry, Packaging, Material Handling, and Others), and Product (Pumps, Motors, Valves, and Cylinders): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global hydraulic equipment industry was pegged at $40.51 billion in 2019, and is projected to reach $51.65 billion by 2027, growing at a CAGR of 3.8% from 2020 to 2027.

Major motivators of the market-

Adoption of mechanized agricultural equipment and growing industrialization drive the global hydraulic equipment market. However, replacement of hydraulic equipment with electro-mechanical systems hampers the market growth. On the contrary, growing need for energy-efficient hydraulic equipment is expected to create lucrative opportunities in the near future.

Download Report Sample (335  Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/6899

COVID-19 Scenario-

  • The demand for hydraulic equipment has been decreased by the end-use sectors including mining and construction, due to lockdown amid the COVID-19 pandemic.
  • The equipment manufacturing firms have curtailed the production procedures, owing to stringent measures by the government and dependency on migrant workers. In addition, the supply chain disruptions have resulted in a shortage of raw materials.
  • However, certain relaxations have been imposed on the restrictions for economic benefits. Owing to this, manufacturing firms have started production at a slower pace.

The industrial segment dominated the market-

By application, the industrial segment held the largest share in 2019, accounting for more than half of the global hydraulic equipment market. This is due to large scale of manufacturing activities. However, the mobile segment is projected to portray the highest CAGR of 4.1% during the forecast period, owing to rise in powerful and advanced equipment offered by the manufacturers in the market.

The motors segment to manifest highest CAGR through 2026-

By application, the motors segment is anticipated to register the highest CAGR of 4.7% during the forecast period. This is due to rise in manufacturing and usage of machinery operated by motors. On the other hand, the cylinders segment held the largest share in 2019, accounting for nearly one-third of the market. This is attributed to maximum cylindrically operated machinery.

Get detailed COVID-19 impact analysis on the Hydraulic Equipment Market: https://www.alliedmarketresearch.com/request-for-customization/6899?reqfor=covid

Asia-Pacific held the lion's share, North America to grow significantly throughout 2027-

The market across Asia-Pacific held the largest share in 2019, accounting for more than one-third of the market, owing to large manufacturing facilities and operations in major Asian countries. However, the global hydraulic equipment market across LAMEA is expected to register the fastest CAGR of 4.9% during the forecast period, owing to increase in usage of hydraulic operated machinery in this province. In addition, the North America region is anticipated to manifest a CAGR of 3.3% during the forecast period.

Major market players-

  • Parker-Hannifin Corp.
  • Robert Bosch GmbH
  • Siemens AG
  • Wipro Limited
  • Daikin Industries Ltd.
  • Danfoss A/S
  • Eaton
  • Emerson Electric Co.
  • Kawasaki Heavy Industries Ltd.
  • Komatsu Ltd.

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/hydraulic-equipment-market/purchase-options

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

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Similar Reports We Have:   

Hydraulic Tools Market : Global hydraulic tools market is projected to reach $2,347.0 million by 2026, growing at a CAGR of 5.9% from 2019 to 2026.

Hydraulic Actuators Market - Global Hydraulic Actuator Market is expected to garner $2.4 billion by 2022, registering a CAGR of 3.6% from 2016 to 2022.

Hydraulic Pump Market - Hydraulic Pump Market is expected to garner $10.4 billion by 2022, registering a CAGR of 4.7% from 2016 to 2022.

Hydraulic Press Machines Market - Global hydraulic press machines market is expected to reach $21,089.2 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025.

Wellhead Equipment Market - Global wellhead equipment market is projected to reach $7,991.8 million by 2026, growing at a CAGR of 5.0% from 2019 to 2026.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

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SOURCE Allied Market Research

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