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Major market trends in fluid power tools have been caused by the need for environmentally friendly and effective power transfer systems around the world, as well as by new technologies and changes in how businesses work. Adding smart technology to fluid power sources has been a big step forward. The Internet of Things (IoT) is connecting and automating more and more gas and water devices. They work better, fixes can be planned ahead of time, and you can keep an eye on them at all times. Intelligent fluid power tools save time, make control better, and cut costs in tech areas.
There is a lot of attention on energy economy in the market for fluid power tools because of rules and worries about the environment. In order to cut down on carbon pollution and make the best use of energy, the market has clearly moved toward hydraulic and gas devices that use less energy. Fluid power options that use less energy are becoming more popular. Variable speed valves, energy return systems, and better hydraulic parts are some of the things that are helping this trend.
At the moment, the industry is moving toward fluid power technology that is more environmentally friendly and long-lasting. More and more people are choosing hydrofluids made from bio-based materials over the standard ones made from petroleum. Many fields are becoming more interested in sustainability, and these bio-based fluids fit in because they are cleaner, break down naturally, and hurt the earth less.
The market for fluid power tools is being changed by new forms and materials. Compact and effective hydraulic and gas parts have been made possible by new design methods and the development of materials that are both strong and light. These improvements make fluid power systems more effective, lower the need for upkeep, and make it possible to find options that use less room.
Because of the push around the world to make all businesses more electric, hybrid and electric fluid power systems are being made. Electric motors, powered pneumatic parts, and hybrid hydraulic systems are all greener and more efficient options to standard fluid power solutions. As the use of electricity grows, the market for fluid power tools is changing to meet the needs of businesses that want cleaner, more long-lasting ways to send power.
Industry 4.0 principles, which push for processes to be able to talk to each other and work together, also have an effect on the fluid power equipment business. Integrated and linked fluid power systems improve system performance, let you analyze data in real time, and give you more control. Thanks to Industry 4.0 technology, fluid power systems that are smart, flexible, and quick to respond are now possible.
Trends in the market have changed, and now safety and dependability of fluid power systems are more important than ever. Failure-safe devices, condition tracking, and predictive analytics are some of the new technologies that have been made to make hydraulic and gas systems safer. It is very important to check the safety and dependability of fluid power tools in fields where service interruptions could have a big effect on budgets and operations.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | The rising demand for construction equipment in the infrastructure projects |
| Market Dynamics | Growing demand from the food & beverage industry globally Rising need for water and wastewater infrastructure in Asia-Pacific |
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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