Europe Industrial Hydraulic Power Unit Market

The Europe Industrial Hydraulic Power Unit Market size was valued at $2.8 billion in 2019, and is anticipated to generate $4.1 billion by 2027. The market is projected to experience growth at a CAGR of 6.3% from 2020 to 2027. Hydraulic power unit is the main component of the hydraulic system, which is used to control, transmit and distribute energy from the pressurized liquid to perform various mechanical tasks. The different types of hydraulic power units are single-acting hydraulic power units, double-acting hydraulic power units, power units, and other complex special power units. Increasing demand of the equipment and machinery that are used in hydraulic power unit are major drivers fueling the hydraulic power unit market, whereas increasing the competition from pneumatic fluid power technology act as restraining factor for this market.

COVID-19 outbreak has led to halt in most of the industrial activities in Europe, which has directly impacted Industrial Hydraulic Power Unit Market.

The key players operating in the hydraulic power unit market are Brevini Fluid Power S.P.A, Danfoss, Eaton Corporation, Emerson Electric Co., Festo, Hydac International GmbH, Robert Bosch, Sick Holding GmbH, SOMI srl GmbH, and Weber Hydraulik GmbH. The players in the market have adopted several strategies to sustain the market competition. The market players are also investing largely into R&D activities for the same, owing to increase in population that directly increases demand for food.

Growth in industrial activities and increasing applications of HPUs for food processing machinery are some important factors driving the Europe industrial hydraulic power unit market growth. However, alternative sources of power transfer using electro-mechanical & electric drives, which are cost-effective and highly efficient in terms of shorter lead time are some of the factors hampering the growth of the market.

Europe Industrial Hydraulic Power Unit Market, by Industrial Application 

The cutting application segment dominated the market share in 2019 owing to wide use in automobile, aviation, metallurgy, light industry, chemical industry, ships, electric power, construction, and other industries; however, the multi-tooling application segment is expected to grow at a higher CAGR during the forecast period as the multi-tooling machineries are capable of performing more than one functions as and when required.

Europe Industrial Hydraulic Power Unit Market, by Component 

The auxiliary components segment dominated the market in 2019 as part of the service and maintenance services as they need to be checked and replaced over a due course of time. However, the power components segment is expected to grow at a higher CAGR during the forecast period owing to simple structure, easy fabrication, low cost, small size, light weight, self-priming performance, not sensitive to pollution of the oil, reliable, and high-speed range.

Europe Industrial Hydraulic Power Unit Market, by Operating Pressure Rate

Moreover, on the basis of operating pressure rate, the 2000-3000 psi segment dominated the market share in 2019 as they are used in assembly machinery, multi-tasking machinery, hydraulic presses, and mounting stands & equipment. However, 750-2000 PSI segment is expected to grow at higher CAGR during the forecast period as they are involved in food processing, beverage processing, simple tools used in cutting, grinding, or milling applications.

Europe Industrial Hydraulic Power Unit Market, by Country

Country wise, Germany dominated the market in 2019, owing to presence of industries such as equipment for mounting, assembly machinery, mining machinery, steel industry, and equipment for robotics and automated manipulation. However, the UK is expected to grow at higher CAGR during the forecast period owing to use in meat processing machinery, test equipment, construction & mining material handling, and other industries. 

Key Benefits For Stakeholders

• The report provides an in-depth analysis and Europe Industrial Hydraulic Power Unit Market forecast along with the current and future market trends.
• This report highlights the key drivers, opportunities, and restraints of the Europe Industrial Hydraulic Power Unit Market along with the impact analyses during the forecast period.
• Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the Europe Industrial Hydraulic Power Unit Market industry for strategy building.
• A comprehensive analysis of the factors that drive and restrain the market growth is provided.
• The qualitative data in this report aims on Europe Industrial Hydraulic Power Unit Market trends, dynamics, and developments.
• The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable Europe Industrial Hydraulic Power Unit Market share.

 Europe Industrial Hydraulic Power Unit Market Report Highlights