Portland, OR, Aug. 31, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global hydraulic power market generated $13.7 billion in 2021 and is projected to reach $24.1 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031. The report provides a detailed analysis of key winning strategies, emerging market trends , market size and estimates, value chain, key investment pockets, drivers and opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, leaders and shareholders in introducing the necessary strategies for the future and taking essential steps to strengthen and significantly increase their position in the market.
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Report coverage and details:
| Report coverage | The details |
| Forecast period | 2022–2031 |
| Base year | 2021 |
| Market size in 2021 | 13.7 billion dollars |
| Market size in 2031 | 24.1 billion dollars |
| CAGR | 5.8% |
| Number of pages in the report | 572 |
| Segments covered | Operating pressure, component, application, end use and region |
| leader | Increase in the number of industrial activities |
| Increased automation in industrial processes | |
| OppORTuNiTy | Wide applications of hydraulic power for agricultural products |
| Increase in defense spending | |
| inhibits | Availability of cost-effective sources of energy transfer |
| Long time trend |
The COVID-19 scenario:
- The spread of COVID-19 has had a negative impact on the growth of the global hydropower market, due to the occurrence of blockages in various countries around the globe.
- The blockages resulted in the shutdown of various manufacturing facilities, including hydropower, which adversely affected its demand. Thus, the decrease in energy usage in industrial facilities across the globe during the outbreak has a negative impact on the development of the market.
- Additionally, there was a gradual decline in demand for solar-related equipment in most countries around the world due to industrial manufacturer shutdowns.
- This was mainly due to the presence of strict social distancing restrictions imposed by the government to significantly curb the spread of the virus during the pandemic.
The report provides detailed segmentation of the global hydraulic power market based on operating pressure, component, application, end-use, and region. The report provides a comprehensive analysis of each segment and their respective sub-segments with the help of graphical and tabular presentation. This analysis can essentially help market players, investors and new entrants in identifying and devising strategies based on the fastest growing and highest revenue generating segments that are mentioned in the report.
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Based on operating pressure, the PSI 2000-3000 segment held the largest market share in 2021, accounting for nearly half of the global market and is expected to maintain its leading status during the forecast period. The 0-750 PSI segment, on the other hand, is expected to cite the fastest CAGR of 6.7% during the forecast period.
Based on components, the auxiliary components segment held the dominant market share in 2021, holding nearly half of the global market and is expected to maintain its leadership status during the forecast period. The control segment, on the other hand, is expected to cite the fastest CAGR of 6.3% during the forecast period.
Based on application, the cutting segment held the largest market share in 2021, holding more than a quarter of the global market and is expected to maintain its leadership status during the forecast period. The simulation and testing segment, on the other hand, is expected to cite the fastest CAGR of 7.6% during the forecast period.
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Based on region, the market across North America held the largest market share in 2021, holding nearly two-fifths of the global market and is expected to maintain its leadership status during the forecast period. On the other hand, the Asia-Pacific region is expected to quote the fastest CAGR of 6.5% during the forecast period.
Top players analyzed in the world hydraulic power industry report includes Bosch Rexroth AG, Brevini Fluid Power SpA, Nachi-Fujikoshi Corporation, Parker Hannifin Corporation, Weber Hydraulik GmbH, Hydac International GmbH, Hydro-Tek Co Ltd., Bailey International LLC, Eaton Corporation, Energy Manufacturing Company, Hydrome, Hydrome. Branch Hydraulic Systems Ltd., Related Fluid Power Ltd., HCS Control Systems Ltd., Danfoss, Siemens AG and Daikin Industries.
The report analyzes these key players in the global hydraulic power market. These market players have effectively used strategies such as joint ventures, collaborations, expansion, new product introduction, partnerships and others to maximize their foothold and capability in the industry. The report is useful to analyze the latest developments, product portfolios, business performance and operating segments by prominent players in the market.
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