Industrial Hydraulic Equipment Market
The market for Industrial Hydraulic Equipment was estimated at $30.2 billion in 2023; it is anticipated to increase to $40.0 billion by 2030, with projections indicating growth to around $48.9 billion by 2035.
Global Industrial Hydraulic Equipment Market Outlook
Revenue, 2023
Forecast, 2033
CAGR, 2024 - 2033
The Industrial Hydraulic Equipment industry revenue is expected to be around $32.7 billion in 2024 and expected to showcase growth with 4.1% CAGR between 2024 and 2033.
These systems are commonly utilized in manufacturing plants well as in construction sites and agricultural fields alike. The expansion of the market is fueled by the rising desire for automation and improvements in technology along with the increased use of hydraulics, in developing markets. This progress boosts the effectiveness and accuracy of machinery while meeting the requirements of industries.
Market Key Insights
- The Industrial Hydraulic Equipment market is projected to grow from $30.2 billion in 2023 to $45.1 billion in 2033. This represents a CAGR of 4.1%, reflecting rising demand across Manufacturing, Mining and Construction.
- Bosch Rexroth, Parker Hannifin, Caterpillar are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Industrial Hydraulic Equipment market and are expected to observe the growth CAGR of 2.9% to 3.8% between 2023 and 2030.
- Emerging markets including India, Brazil and Vietnam are expected to observe highest growth with CAGR ranging between 4.5% to 5.7%.
- Transition like Shift Towards Smart Hydraulics has greater influence in United States and China market's value chain; and is expected to add $1 billion of additional value to Industrial Hydraulic Equipment industry revenue by 2030.
- The Industrial Hydraulic Equipment market is set to add $14.9 billion between 2023 and 2033, with manufacturer targeting Construction & Mining Application projected to gain a larger market share.
- With Demand for industrial automation, and Infrastructure development, Industrial Hydraulic Equipment market to expand 49% between 2023 and 2033.
