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Industrial Hydraulic Equipment Market Share
Key players involve in the industrial hydraulic equipment industry are Bosch Rexroth AG, Bucher Hydraulics GmbH, Caterpillar Inc., Komatsu Ltd., and Eaton Corporation plc accounting market share of around 25-30% in 2023. These manufacturers are constantly investing in research and development to come up with advanced technologies that can improve the efficiency of industrial hydraulic equipment. To stay competitive, manufacturers are also investing in their distribution networks and after-sales services. A strong distribution network ensures that their products reach a wider market, while efficient after-sales services help to build customer loyalty and satisfaction.
Industrial Hydraulic Equipment Market Companies
Major companies operating in the industrial hydraulic equipment industry include:
- Bosch Rexroth AG
- Bucher Hydraulics GmbH
- Caterpillar Inc.
- Danfoss Group
- Eaton Corporation plc
- HAWE Hydraulic SE
- Hitachi Construction Machinery Co., Ltd.
- HYDAC International GmbH
- Kawasaki Heavy Industries, Ltd.
- KTI Hydraulics, Inc.
- Komatsu Ltd.
- KYB Corporation
- Liebherr International AG
- Mitsubishi Heavy Industries, Ltd.
- Parker Hannifin Corporation
Why is the use of industrial hydraulic pumps rising?
The pumps type segment was USD 18 billion in revenue in 2023 and poised to register USD 25 billion by 2032 as they are playing a crucial role in powering heavy machinery and equipment.
Why is the demand for industrial hydraulic pumps growing in manufacturing?
Industrial hydraulic equipment industry size from the manufacturing segment held over USD 15 billion in 2023 and expected to reach USD 21 billion by 2032, owing to rising need to fluid power to generate, control, and transmit power to various machines and equipment.
What is the value of the APAC Industrial hydraulic equipment market?
Asia Pacific market size recorded around USD 19 billion in 2023 and is projected to surpass USD 27 billion by 2032, attributed to the increasing industrialization and rapid growth of manufacturing industries in China, Japan, India, South Korea, and Australia
How much is the industrial hydraulic equipment market worth?
The market size of industrial hydraulic equipment reached USD 45 billion in 2023 and is set to witness 3.8% CAGR between 2024 and 2032, due to rapid rise in industrialization across various sectors.