Fluid Power Equipment market is expected to grow at a rapid rate in developing countries. Manufacturers are relying less on humans and more on machines to carry out heavy duty jobs. The commercialization of shale gas technology is driving the demand for hydraulic fluid power equipment. Also, the recent breakthroughs in exoskeleton is enabling worker in factories to wear exoskeleton suits for protection and ease of work.
What is Fluid Power Equipment?
Fluid Power Equipment refers to the use of fluids or air under pressure to generate movement, control and transmit power. The Fluid Power Equipment can be diversified into two types: Hydraulic and Pneumatic. Hydraulic system uses mineral oils or other type of fluids to carry out works. The top markets where hydraulics are used are construction machinery, agricultural machinery, automotive, trucks, material handling, oil & gas machinery and lawn & garden.Pneumatics on the other hand uses gas or pressurized air to initiate movement. The top markets where pneumatics equipment are used are trucks, automotive, food processing, medical equipment, packaging machinery, material handling and semiconductor industries.
Market Research and Market Trends of Fluid Power Equipment Market
- Recent breakthroughs in technological systems have enabled industry leaders to improve their product offerings. A large number of manufacturers are investing heavily in research and development with an aim to ensure their products are energy efficient and improve energy storage capabilities while reducing the size of the system and their associated components.
- Governments and Environmental bodies regularly express their concerns regarding the changes required for curbing pollution impact on the environment. The introduction of new regulations on monitoring waste and environmental impacts are fast gaining traction within the regulatory bodies. New regulations state that Hydraulics equipment manufacturers and mineral oil producers must monitor and conduct regular checks of their products at used sites. These checks are aimed at ensuring all the equipment’s are in optimal working condition, hence, reducing the occurrence of spillages through faulty equipment.
- Oil and Natural gas providers and construction machinery manufacturers are major utilizers of fluid power equipment. The rise in demand for oil and the commercialization of shale gas technology is driving the equipment market. Hydraulic power equipment is widely used in oil and gas as well as construction machinery. The rising demand for construction projects and automobiles in the developing countries such as China and India is expected to fuel the demand for equipment in the coming years.
Who are the Major Players in Fluid Power Equipment Market?
The major vendors in Fluid Power Equipment market are Alfa Laval Ab, Colfax Corporation, Crane Co, Flowserve Corporation, Graco Inc, Burket Gmbh & Co, Dover Corporation, INDEX Corporation, Ingersoll-Rand plc, SPX Flow Inc and others.
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The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
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Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
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- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
