Asia-Pacific hydraulic equipment market is estimated to grow at a CAGR of nearly 5.2% during the forecast period. The market was valued at nearly $16.3 billion in 2019, which is estimated to reach at nearly $23.2 billion in 2026. Some pivotal factors accelerating the market growth include a significant rise in construction and mining industry and expansion of oil and gas operations. In October 2019, the National Development and Reform Commission (NDRC), China approved 21 infrastructure projects, which were valued at a minimum of $107.8 billion. A sharp rise in the approval of infrastructure project signifies larger infrastructure spending in the future, supporting to stabilize China’s economy. A large number of equipment found on construction sites globally is driven by hydraulic power. This comprises hydraulic final drive motors that are used for converting hydraulic power to torque to support diggers, track loaders, backhoes, and bulldozers, to push or carry heavy loads. Hydraulic wheel motors are also vital for wheeled machines, including wheeled excavators, backhoes, skid steer loaders, and even forklifts.
Get Free Sample link @ https://www.omrglobal.com/request-sample/asia-pacific-hydraulic-equipment-market
Based on the country, the market is segmented into China, India, Japan, and Rest of Asia-Pacific. China hydraulic equipment market is significantly driven by the expansion of automotive and oil and gas industry. In addition, the expansion of hydraulic equipment facility has been witnessed in the country. For instance, in January 2020, Linde Hydraulics GmbH & Co. KG opened its new manufacturing plant in Weifang, China that has the capacity to manufacture 100,000 units annually. 80% of the manufacturing capacity will be dedicated to motors and pumps and 20% for valve technology. The units manufactured in the plant will enable the company to quickly supply the Asian market with a highly customer-oriented focus and can offer more localized units with market-oriented prices.
A full report of Asia-Pacific Hydraulic Equipment Market available @ https://www.omrglobal.com/industry-reports/asia-pacific-hydraulic-equipment-market
- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Asia-Pacific Hydraulic Equipment Market by Type
- Mobile Hydraulics
- Industrial Hydraulics
Asia-Pacific Hydraulic Equipment Market by Product
- Motors and Pumps
- Valves
- Cylinders
- Others
Asia-Pacific Hydraulic Equipment Market by End-User Industry
- Construction and Mining
- Agriculture
- Oil and Gas
- Automotive
- Aerospace and Defense
- Others
Country Analysis
- China
- India
- Japan
- Rest of Asia-Pacific
Company Profiles
- Bosch Rexroth AG
- Daikin Industries, Ltd.
- Danfoss A/S
- Essem Engineers
- HAWE Hydraulics Pvt. Ltd.
- Kawasaki Heavy Industries, Ltd.
- Komatsu Ltd.
- KYB Corp.
- Parker-Hannifin Corp.
- Shimadzu Corp.
The Report Covers
- Comprehensive research methodology of the Asia-Pacific hydraulic equipment market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Asia-Pacific hydraulic equipment market.
- Insights about market determinants which are stimulating the Asia-Pacific hydraulic equipment market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/asia-pacific-hydraulic-equipment-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
