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Fluid Power Equipment is a market that brings together both business and engineering. It includes hydraulic and gas systems that are used to power machines and tools in many fields. The fluid power tools market is affected by several important factors. Industrial automation is a major factor because it makes it possible to control production processes precisely and effectively. This, in turn, leads to the widespread use of fluid power systems. These systems, whether they are hydraulic or pneumatic, are very important because they give tools in many fields the power and movement they need, such as in building and car manufacturing.
More stable and effective hydraulic and pneumatic systems have been made possible by big steps forward in materials, design, and control technologies. Smart parts, sensors, and the Internet of Things (IoT) link all work together to make hydraulic power tools more useful. This mix makes it possible for better performance, planned repair, and tracking in real-time. To meet these changing needs and work toward sustainability and efficiency, technological progress is essential.
Eco-friendly hydraulic fluids and air systems were made in response to efforts to cut down on energy use and damage to the environment. Designers are paying more attention to making tools less harmful to the environment, saving energy, and stopping leaks. The fluid power equipment business has to deal with sustainability goals and environmental limits that affect how it makes products and sells them.
The building and infrastructure businesses have a big impact on the market for fluid power tools. A variety of building tools, like excavators and bulldozers, depend on hydraulic systems to power and control them, to do work that requires a lot of physical labor.
What customers want and what the business standards are have a big effect on how the market works. Fluid power equipment is used for many different tasks, each with its own specific needs. It is used in areas as different as gardening, oil and gas, transportation, and aircraft. Customization, flexibility, and following industry standards are important for companies that make fluid power tools that want to stay ahead of the competition and meet all of their customers' needs.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Component, Application, and Region |
Fluid Power Equipment Market Highlights:
Global Fluid Power Equipment Market Overview
Fluid Power Equipment Market Size was valued at USD 48.55 Billion in 2023. The Fluid Power Equipment industry is projected to grow from USD 51.85 Billion in 2024 to USD 90.76 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.4% during the forecast period (2024 - 2032). Fluid power equipment is used for power transmission in different places. It is divided into two types hydraulic and pneumatic.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
A hydraulic system uses liquid for power transmission, while a pneumatic system uses gas. Fluid power equipment has electrical and mechanical advantages, accelerating the Market demand. The growth factors are driving the market at the level. The demand from the industrial verticals such as the food and beverage industry and the need for wastewater infrastructure are driving the market. The fluid power equipment has useful safety features for hazardous environments in industries.
Fluid Power Equipment Market Trends
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Rising need for water and wastewater infrastructure to boost the market growth
The need for water and wastewater infrastructure is rising globally, as populations continue to grow and urbanize. This is putting strain on existing infrastructure and creating a need for new investment in water and wastewater treatment facilities. The market is expected to benefit from this trend, as demand for products such as pumps, valves, and actuators increases.
Fluid Power Equipment Market Segment Insights
Fluid Power Equipment Type Insights
The market segmentation, based on Type, includes Hydraulic and Pneumatic. The Hydraulic segment holds the majority share in 2021 of the market. Due to its efficiency and cost-effectiveness.
Fluid Power Equipment Component Insights
Based on Components, the market segmentation includes Pumps, Motors, Valves, Cylinders, Steel tubes and Compression Fitting, Accumulators and Accessories. The Motors segment is estimated to account for the largest share of the market. These motors play an important role in a wide range of industries such as automotive, and industrial.
With their ability to provide high torque and power output, they are increasingly being adopted in a variety of applications. Moreover, advancements in technology have further enhanced their performance and efficiency making them more cost-effective for companies looking for reliable solutions.
Fluid Power Equipment Application Insights
Based on Application, the market segmentation includes Construction, Automotive, Oil & Gas, Food Processing, Packaging, Semiconductors, and Others. The Construction segment dominated the market in 2021. By utilizing fluid power technology, construction companies can increase efficiency and accuracy, reduce costs, and improve safety on the job site. This equipment is used in a wide range of applications including material handling, excavation, demolition, and more.
Figure 2 : Fluid Power Equipment Market, by Application, 2021 & 2030 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Fluid Power Equipment Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific held the largest share of the market due to the growing investment in construction activities in emerging nations, such as India and China. China is expected to account for the largest share of the regional market and India is expected to be the fastest-growing country in the region.
The primary application area of the fluid power equipment in these sectors is fluid transfer. Such factors are likely to drive the market in the Asia-Pacific.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Fluid Power Equipment Market Share By Region 2021 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Fluid Power Equipment Key Market Players & Competitive Insights
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Fluid Power Equipment industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Fluid Power Equipment industry to benefit customers and expand the market sector. The market has recently given medicine some of the most important advantages. Major market players, including Bosch Rexroth, Eaton Corporation, Parker Hannifin, Kawasaki, Daikin, and others, are attempting to increase market demand by funding R&D initiatives.
A supplier of drive and control technology is Bosch Rexroth. The business focuses on factory automation, machinery engineering and applications, and mobile machines. Its product categories include mobile hydraulics and electronics, industrial hydraulics, gear technology, tightening technology, electric motors and controls, molding and casting technology, and resistance welding.
Parker Hannifin is a manufacturer of motion and control technology and systems. It is divided into two business segments Diversified Industrial and Aerospace Systems. Diversified Industrial provides engineered materials, filtration, fluid connections, instrumentation, and motion systems.
Fluid conveyance, fuel, fuel tank inerting, and hydraulic systems and components, as well as fluid metering, delivery, and atomization devices, wheels, brakes, pilot controls, and so on, are all provided by the Aerospace Systems section. Off-road machinery, transportation, oil and gas, industrial production equipment, power generation, healthcare and life sciences, and chemical processing are all markets served by the firm.
Key Companies in the Fluid Power Equipment market include
- Bosch Rexroth
- Eaton Corporation
- Parker Hannifin
- Kawasaki
- Fluid-Power Equipment Inc
- Sparrows Group
- Fluid Systems Inc
- AGILOX
- Kent Fluid Power Ltd
- Moog Inc
- Daikin
Fluid Power Equipment Industry Development
In June 2022, Bosch Rexroth, a Germany-based engineering firm that provides hydraulic products partnered with AGILOX to open up the market for autonomous mobile robots. This partnership aimed to combine strong products and scale the presence.
In February 2022, AGILOX announced a partnership with Parker Hannifin Corporation. This partnership enables customers to receive real-time alerts and access diagnostic messages for Parker components and Cummins engines in a single dashboard. Cummins Inc. is a US-based company that manufactures filtration, engines, and power generation products.
March 2024, A global manufacturer of innovative, vastly designed power transmission and fluid power solutions, Gates, has disclosed its partnership and entry into the fast-mounting and evolving data center cooling market with CoolIT Systems.
CoolIT Systems is the global leader in accessible liquid cooling technology for the world's most demanding computing environments. To fulfill the escalating demand in the AI, enterprise, and high-performance computing (HPC) markets, CoolIT is operating with Gates to build the most efficient and reliable liquid cooling solutions available in the market at present.
The collaboration involves developing advanced solutions and strengthening the supply chain between Gates' intense North America-based operations and CoolIT's Calgary, Canada production hub. Gates is using its technical expertise in materials science, thermal management, and fluid conveyance to provide reliable and efficient solutions for the data center cooling market.
Gates' solutions incorporate a wide variety of highly engineered products that manage the rigorous demands of high-performance computing environments where uptime and reliability are crucial.
September 2023, The parent company of Aerox Aviation Oxygen Systems, O2 Aero Acquisitions, announced the acquisition of Fluid Power Inc., a longtime producer of aviation oxygen systems and concerned components for military use. Aerox stated that the addition extends its range of aviation oxygen systems while growing its global customer base.
The O2 Aero managing director and Aerox president, Scott Ashton, said that the acquisition of Fluid Power will produce a balanced military and civil aviation product range and will offer better manufacturing capacity and engineering expertise.
He further added that Fluid Power has a 75-year legacy of servicing the aviation industry, offering advanced oxygen equipment as far back as the Korean War, and at present offers several oxygen components for military applications. Aerox stated the two organizations' product ranges are complementary and will enable them to cater to more segments of the aviation oxygen market.
Fluid Power Equipment Market Segmentation
Fluid Power Equipment Type Outlook
- Hydraulic
- Pneumatic
Fluid Power Equipment Component Outlook
- Pumps
- Motors
- Valves
- Cylinder
- Steel Tube and Compression Fitting
- Accumulators and Accessories
Fluid Power Equipment Application Outlook
- Construction
- Automotive
- Oil & Gas
- Food Processing
- Packaging
- Semiconductor
- Others
Fluid Power Equipment Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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