Fluid Power Equipment Market accounted for US$ 37894.2 million in 2020 and is estimated to be US$ 63266.1 million by 2030 and is anticipated to register a CAGR of 5.5%. Fluid power equipment is a device in which fluid is used to generate, control and transmit power. Fluid power term is use to describe Hydraulic and pneumatic technologies, in which both technologies are used as a fluid such as liquid or gas to transmit power from one location to another. Moreover, hydraulics fluid is usually oil but can be water, whereas pneumatics uses a gas that is usually compressed air. The fluid power equipment market can be used in industrial packaging, material handling, robotics, mining activities, construction, and automation processes. In addition, electric power equipment can also produce high torque at low speed, thus it helps to have significant growth of the market with great benefits during the forecast period.
The report " Global Fluid Power Equipment Market, By Type (Hydraulics & Pneumatics, and Pneumatics Hydraulics & Pneumatics), By Application (Automotive, Agricultural Machinery, Food Processing, Oil & Gas Machinery, Medical Equipment, Packaging Machinery, Material Handling, and Semiconductor), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”
Key Highlights:
· In 2021, Enovation Controls is the part of Helios Technologies has launched new uControl mobile machine controllers, to deliver precise proportional control for heavy-duty equipment in ultra-rugged environments, uControl mobile machine controllers are equipped with multiple CAN channels that have extreme durability and achieve total machine control with precision fluid-power and equipment performance.
· Bosch Rexroth launched new load-sensing valves RM10 (left) and RM15 (right) in March 2020, which are compact for the general-purpose, and multi-application load sensing directional control valves, optimally designed for mobile application markets.
· Danfoss announced its acquisition of Eaton Hydraulics for USD 3.3 Billion in January 2020, the acquisition is fully in line with Danfoss’ strategy to strengthen its core businesses and enhance customer value, in which acquisition is subject to closing conditions and regulatory approvals; to that end, the deal is projected to close by the end of 2020.
Analyst View:
Fluid power equipment is effective safety from hazardous environments in industries which is the major driving factor. It provides high power to weight ratio which will help for equipment suitable for the use of mining plants. In addition, smooth operations are done by fluid power equipment as it can produce high torque at low speeds. The driving factor is the rapid growth of investments in developing energy-efficient solutions. Furthermore, the advancement in the technologies coupled with the increase in manufacturing rate of fluid power equipment by developing machines is expected to boost the market growth for the forecast period. However, the cost is high for the installation of fluid power equipment which is anticipated to hinder the market.
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Key Market Insights from the report:
Global Fluid Power Equipment Market accounted for US$ 37894.2 million in 2020 and is estimated to be US$ 63266.1 million by 2030 and is anticipated to register a CAGR of 5.5%. The Global Fluid Power Equipment Market is segmented by Type, Application, and Region.
· By Type, Global Fluid Power Equipment Market is segmented into Hydraulics & Pneumatics, and Pneumatics Hydraulics & Pneumatics.
· By Application, Global Fluid Power Equipment Market is segmented into Automotive, Agricultural Machinery, Food Processing, Oil & Gas Machinery, Medical Equipment, Packaging Machinery, Material Handling, and Semiconductor.
· By Region, Global Fluid Power Equipment Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:
The key operators of the Global Fluid Power Equipment Market are Alfa Laval AB, Colfax Corporation, Crane, Flowserve Corporation, Graco, Christian Burkert GmbH & Co. KG, Dover Corporation.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
