The Market Size of The Global Hydraulic Industry Exceeds 65 Billion US Dollars in 2023
Development history of global hydraulic industry
The earliest development of the global hydraulic industry can be traced back to 1795. Joseph Braman of Britain used water as the working medium in London and applied it to the industry in the form of hydraulic press, giving birth to the first hydraulic press. Since then, the use of liquid as a power source has been formally used in industrial scenarios, and the working medium has subsequently changed from water to oil. In the 21st century, hydraulic products have developed into a complete industry chain.
Representative enterprises of European, American and Japanese hydraulic industry supply sufficient
From the perspective of representative hydraulic industry enterprises around the world, the supply of global hydraulic industry products is relatively sufficient, Europe, the United States, Japan have many large and excellent hydraulic products enterprises. Among them, there are a large number of representative enterprises in the hydraulic industry in Europe, such as Bosch Rexroth, Danfoss, Harway, Linde Hydraulic, etc., and the representative enterprises in the hydraulic industry in the United States are Parker Hannifin, Eaton, Moog, etc. On the whole, the supply of hydraulic industry within the whole range is relatively sufficient.
Many enterprises in various countries are in a leading position. The hydraulic industry in the United States has formed a complete production system. At present, the leading enterprises in the hydraulic industry in the United States include Parker Hannifin, Eaton, etc. At present, the United States is still the largest market for the global hydraulic industry.
German representative enterprises such as Bosch Rexroth, which was a small foundry in the early 1950s, has now become a large hydraulic parts company with more than 37,500 employees, which ranks first in Europe. Its products cover almost everything. Other companies such as Linde Hydraulic, Hydac, etc. also produce many unique hydraulic products, which have strong competitiveness in the world market.
At present, Japan has formed a complete industrial chain of hydraulic industry, its main hydraulic industry enterprises are Kawasaki Heavy Industries, KYB and so on.
In 2022, the global hydraulic industry market size exceeded 65 billion US dollars
The global hydraulic industry has a good development trend in recent years. The growth potential of the construction industry, the increasing demand for material handling equipment and the expansion of engineering are the main factors driving the growth of the hydraulic Market. According to the Data disclosed by the authoritative periodical Market Data Forecast, the global hydraulic industry market size is about 62.7 billion US dollars in 2021. The compound annual growth rate is 4%. It is preliminarily estimated that the global hydraulic industry market will exceed 65 billion US dollars in 2022.
The global hydraulic industry market is expected to reach $83.6 billion in 2028
With the progress of global industrialization, as well as the popularity of hydraulic power machinery in construction machinery, machine manufacturing and other fields, the global hydraulic industry has gradually developed and expanded. According to the forward-looking forecast, by 2028, the global hydraulic industry market is expected to reach 83.6 billion dollars.
At present, the development trend of the global hydraulic industry is mainly intelligent, miniaturization and high production concentration, which is as follows:
