Hydraulic Motors Market size worth over $14 Bn by 2027

Hydraulic Motors Market size is slated to surpass USD 14 billion by 2027, according to a new research report by Global Market Insights Inc.
 

The growing expenditure on infrastructure development to cater to the needs of the expanding population is significantly contributing to the booming hydraulic motors industry growth. For instance, the Asian Development Bank (ADB) estimates that the Asia Pacific region requires an investment of USD 26 trillion between 2016 and 2030 in order to meet the rising infrastructure needs.
 

On the other hand, the COVID-19 pandemic is hampering market expansion. In 2020, the demand for hydraulic motors witnessed a substantial downfall, flatlining the market revenue. Nationwide lockdowns, disrupted supply chains, and halted manufacturing operations are some of the key factors that led to the industry collapse. However, the hydraulic motors market is expected to rebound on account of the recovering global economy and resuming operations.
 

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Favorable properties of gear motors to fuel market statistics

Gear motors are anticipated to capture significant portion of the hydraulic motors market with around 5% CAGR through 2027. High RPM, low initial costs, elevated resistance to contamination, and durability are some of the characteristics preferred by end-users, thus, propelling the demand for gear hydraulic motors. Additionally, these motors are less catastrophic upon failures, which is further likely to stimulate product consumption.
 

Browse key industry insights spread across 200 pages with 222 market data tables & 27 figures & charts from the report, “Hydraulic Motors Market Size By Product (Gear Motor, Vane Motor, Piston Motor {Radial Piston Motor, Axial Piston Motor}), By Speed (Low-speed, High-speed), By End-use Industry (Construction, Agriculture & Forestry, Marine, Oil & Gas, Industrial, Mining, Recycling & municipal, Transportation, Others), COVID-19 Impact Analysis, Regional Outlook, Price Trends, Competitive Landscape, Growth Potential & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hydraulic-motors-market
 

The increasing agriculture & forestry output to bolster market growth

The agriculture and forestry end-use industries are estimated to generate close to USD 2 billion in revenue by 2027. The increasing adoption of new technologies, process improvements, and innovations in the farm sector are attributing to the growing agricultural production. The high growth in the sector has allowed the implementation of advanced machinery, which often requires hydraulic motors, thereby, bolstering the product demand.
 

Enormous manufacturing activities to augment the market in North America

North America hydraulic motors market revenue is forecast to register growth rate of over 5% through 2027. It is one of the fastest-growing markets across the globe. The lofty growth of the region can be ascribed to its immense manufacturing capabilities. For instance, according to the United Nations Statistics Division, the U.S. accounted for around 16% of the global manufacturing output and 11% of the country’s GDP. Moreover, farm production has increased significantly in the U.S., which is further driving the industry statistics.
 

Strategic initiatives to strengthen the market position of key manufacturers

Companies are adopting various key strategies in order to gain competitive advantages and improve business profitability. Some of these initiatives include mergers, acquisitions, product launches, and geographical expansions, among others.
 

Prominent participants of the hydraulic motors market include Eaton Corporation Plc, M+S Hydraulic Plc, Italgroup S.r.l., SAI S.p.a, Taizhou Eternal Hydraulic Machine Co., Ltd., Bosch Rexroth Corporation, Rotary Power, HYDRO LEDUC, Kawasaki Heavy Industries, Ltd., Maha Hydraulics, Poclain Hydraulics, Vivoil Oleodinamica Vivolo s.r.l., VBC Hydraulics, VELJAN, Permco, Inc., Danfoss Group, Bezares, Maxma, and Parker Hannifin Corporation, among others.