Market Overview

Global Industrial Hydraulic Equipment Market, Forecast to 2023

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Global Industrial Hydraulic Equipment Market, Forecast to 2023

PR Newswire

LONDON, August 20, 2018 /PRNewswire/ -- Electrohydraulic Solutions are Here to Stay Despite the Threat from Alternative Solutions

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This Frost & Sullivan research service analyzes the global industrial hydraulic equipment market from 2014 to 2023; the base year is 2017.This study examines the various product segments, end-user industries, and market shares, and offers a competitive analysis of the global market participants.

Regional analyses are provided for North America, Europe, Middle East and Africa (EMEA), Asia-Pacific (APAC), and Rest of World (ROW).

Research Highlights
This study examines the key growth drivers, restraints, product segments, and end-user industries in each region, and provides forecasts by end-user industry, product segment, and individual region.In addition, this study also highlights future growth opportunities, and the strategic imperatives that need to be undertaken by the market participants, in order to capitalize on these growth opportunities.

This research service also includes CEO's 360-degree perspective.

Key Features
In this research service, Frost & Sullivan's analysts examine the following product segments and end-user industries.

Products:

• Hydraulic pumps
• Hydraulic motors
• Hydraulic valves
• Hydraulic cylinders
• Hydraulic transmission
• Hydraulic filters and hydraulic accumulators
• Others (fluid connectors, auxiliary components, and other accessories)

End-user Application:

• Machine tools
• Hydraulic press
• Plastics
• Water and wastewater
• Automotive
• Food and beverage
• Renewable energy
• Entertainment and simulators
• Others (metals and mining, oil and gas, textiles, packaging, semiconductors, chemicals, pulp and paper, and other niche and customized applications)

Positive economic activity, focus on energy efficiency, and increased penetration of smart solutions are set to sustain long-term market growth.North America, home to the largest economy in the world, recovered from sluggish demand to post strong growth in 2017.

The renewed business optimism and rebuilding, and in some cases, replacement of ageing equipment are expected to drive growth in the machine tools, hydraulic press, and plastics segments.The Europe, Middle East, and Africa (EMEA) region is also expected to follow a similar growth trajectory, albeit at a slightly slower pace.

Strength in the EU economy is expected to sustain short-term growth while upcoming events in the Middle East are expected to sustain medium-term growth.

Similarly, Asia-Pacific, which is home to the two fastest growing major economies in the world, is another key growth engine for this market due to the rising wealth in the region and the growth of the manufacturing sector.The Chinese Government's focus on overhauling the manufacturing sector is expected to continue to spur investment toward industrial equipment.

Meanwhile, India is expected to reclaim its tag as the fastest growing major economy in the world and is expected to push its growth trajectory further up during the medium and long terms.

However, commoditization of the product increases the price pressure, affecting the profit margins of the market participants, especially in the face of increased competition from low-cost manufacturers.The biggest threat to this market is the anticipated movement toward alternative solutions, such as all-electric machines, in some end-user industries.

While higher focus on total cost of ownership and lower energy consumption is expected to bring about an increase in substitution of hydraulic equipment (with electric systems, in some sectors), the growth of electrohydraulic equipment and sufficient inertia in traditional industries are expected to sustain long-term market growth in some end-user industries.

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