Fluid power equipment is a device in which fluids under pressure are used to generate, control, and transmit power. This process involves pressurized fluid bearing directly on a piston in a cylinder. Hydraulic and pneumatic technologies are included under the fluid power equipment working process, in which liquids or gas are used to transmit power. The fluid power equipment can transmit equivalent power within a much smaller space than mechanical drives. These are composed of valves, pumps, cylinders, sensors, seals, and reservoirs. The main usage of the fluid equipment market can be seen in industry packaging, mining activities, material handling, constructions, robotics, and automation processes. Furthermore, electric power equipment can produce high torque at low speed, thus, the fluid power equipment market is likely to witness significant growth during forecast timeframe owing to its great benefits.
COVID-19 scenario analysis:
The global market for fluid power equipment is severely impacted by the outbreak of the COVID-19 pandemic.
The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
Thus, insufficiency in raw material supply is expected to hamper the production rate of fluid power equipment, which negatively impact the market growth.
However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The major factor driving fluid power equipment is its effective safety majors from hazardous environments in industries. Fluid power equipment also provide high power to weight ratio which makes these equipment suitable for use in mining plants. Furthermore, smooth operations can be carried out by fluid power equipment as they can produce high torque at low speeds. The rapid growth of investments in developing energy-efficient solutions is also driving the growth of the fluid power equipment market. Additionally, the advancement in the technologies coupled with rising manufacturing rate of fluid power equipment by developing machines, expected to boost the market growth. However, the installation cost for fluid power equipment is very high which is anticipated to hinder the growth of the market in a analysis period.
Major market players:
Some of the major market players of fluid power equipment market are Bosch Rexroth Corporation, Eaton, parker Hannifin corp, Kawasaki heavy industries, Bucher hydraulics Gmbh, Dakin industries and others. Expansions, acquisitions, partnerships and new product developments are the main focus of these market players to grow their business in the potential markets. They have also been focusing on strategies like organic and inorganic growth developments like contracts and investments.
Key benefits of the report:
- This study presents the analytical depiction of the global fluid power equipment market industry along with the current trends and market estimation to determine the imminent investment pockets
- The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the fluid power equipment market share
- The current market is quantitatively analyzed to highlight the fluid power equipment market growth scenario
- The report provides a detailed global fluid power equipment market analysis depending on competitive and how the competition will take shape in coming years
- This report helps users in comprehending the key product segments and their future
Fluid Power Equipment Market Report Highlights
By End user
Key Market Players
parker Hannifin Corp, Kawasaki Heavy Industries, Dakin Industries, Bosch Rexroth Corporation, Bucher Hydraulics Gmbh, Eaton