Market Overview

Global Hydraulic Power Tools Market Would Grow At 6.8% CAGR From 2018 To 2025 - Progressive Markets

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Pune, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Progressive Markets published a report, titled, Global Hydraulic Power Tools Market by Product Type (Hydraulic Cylinder & Jack, Tightening & Loosening Tools, and Cutting Tools & Separating Tools), and End User (Industrial Manufacturing, Oil, Gas & Petrochemical, Electric Utility, Railway, and Others): Global Opportunity Analysis and Industry Forecast, 2017-2025. The report provides an in-depth analysis of the global market based on the current market trends, future market potential, top investment areas and also provides the competitive market landscape. According to the report, the global hydraulic power tools market accounted for $1.39 billion in 2017, and is expected to garner $2.31 billion by 2025, registering a CAGR of 6.8% from 2018 to 2025.

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Rapid construction activities in developing countries, growing impetus toward automation, and recent technological advancements in the automotive industry have fueled the growth of the global hydraulic power tools market. Moreover, spiraling growth of other industries, such as manufacturing and oil & gas, have supplemented the adoption of hydraulic tools, which in turn have supplemented the market growth. However, factors such as high costs of manufacturing and maintenance coupled with frequent critical check-ups of hydraulic tools hinder the growth of the global hydraulic power tools market. On the contrary, continuous innovations in hydraulic technology would offer lucrative opportunities for the market players in the near future.

Tension and torque tools to witness huge demand by 2025

The report splits the product segment into hydraulic cylinder & jack, hydraulic rescue tools, tension and torque tools, and others. The hydraulic cylinder & jack segment dominated the market in 2017, contributing more than one-third share of the market. However, the tension and torque tools segment is expected to grow at the fastest CAGR of 7.6% through 2025.

Major end user industries in the market

The report discusses various end user industries of the industry, which include industrial manufacturing, oil, gas & petrochemical, electric utility, railway, and others. In 2017, the industrial manufacturing segment manifested the highest demand for hydraulic tools, contributing more than half of the total market revenue. The segment is expected to continue its growth trend, registering 7.3% CAGR from 2018 to 2025.

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Asia-Pacific to govern the industry by 2025

The report includes the analysis of several geographical regions such as North America, Europe, Asia-Pacific, and LAMEA. The North American region dominated the global market in 2017, contributing about 36% share of the total market. However, Asia-Pacific would dominate the global hydraulic power tools market throughout the study period, registering a CAGR of 7.7% through 2025.

Torchbearers of the market

The global hydraulic power tools market report includes an in-depth analysis of the following key companies namely, Actuant Corporation, SPX Flow, Textron Inc., HTL Worldwide Ltd., Hi-Force, Atlas Copco AB, KUDOS MECHANICAL CO., LTD., IDEX Corporation, Shinn Fu, and Cembre Inc. These market players have adopted several strategies such as partnerships, collaborations, product launch, and mergers & acquisitions to maintain their leading position in the market.

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