Global fluid power equipment market was worth USD 48.9 billion in the year 2020 and is slated to register lucrative growth during 2021-2026.

Industry Snapshot:

• Surging adoption of automation in factories is propelling market growth.
• Introduction of user-friendly fluid products is accelerating industry development during 2021-2026.
• Rising acceptance of international standards for motor efficiency is impelling the demand for fluid power equipment.
• Growing proportion of multinational corporations (MNCs), outlets, native supply chains is prompting the application of the product across numerous sectors, thus impelling the global fluid power equipment industry share.

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Segmental Overview:

Type	Hydraulic
	Pneumatic
Product	Pumps
	Motors
	Valves
	Filters
	Actuators
	Cylinders
Application	Construction
	Oil & Gas
	Automotive
	Aerospace & Defense
	Others
Regions	Americas
	Europe
	Middle East & Africa (MEA)
	Asia Pacific

 

Window to the future:

• The hydraulics type segment is slated to witness modest growth during the forecast period.
• The automotive application vertical is estimated to register decent expansion during the predicted timeline, owing to the soaring production of vehicles.
• Asia Pacific fluid power equipment industry is poised to retain significant revenue share during the assessment timeframe, attributed to rapidly expanding automotive and industrial sectors, coupled with massive investment in the manufacturing arena in emerging economies such as India and China.

Explainer:

Apprehensions about the COVID-19 pandemic had the governments issuing strict regulations to curb the spread of the virus to ensure people’s safety. This resulted in drastic instabilities in worldwide supply chain leading to a steep decline in demand from end-use sectors. Due to this, global fluid power equipment industry was severely impacted. However, it is likely to pick up pace in the forthcoming years.

The prominent participants in the business sphere are Daikin Industries Ltd., Marzocchi Pompe S.p.A., Gates Industrial Corporation plc, Flowserve Corporation, Eaton Corporation plc, Concentric AB, Robert Bosch GmbH, Crane Co., Emerson Electric Co., and Schlumberger Limited among others.

Concluding lines:

Market research entails collecting data from various sources to uncover patterns and consumer behavior. MarketStudyReport has a report titled ‘Global Fluid Power Equipment Market: Analysis By Type (Hydraulic, Pneumatic), Product (Pumps, Motors, Valves, Cylinders, Filters, Actuators), Application, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, which focuses on the growth determinants and remunerative opportunities available during the research period for the stakeholders to engage in and amplify their gains. The report is compiled through comprehensive analysis by seasoned analysts to facilitate the enterprises in this domain.