India hydraulic equipment market is estimated to grow at a CAGR of 6.2% during the forecast period. Growth in the construction and mining industry is one of the factors accelerating market growth. As per the India Brand Equity Foundation (IBEF), India produces 23 non-metallic minerals, 95 minerals 4 fuel-related minerals, 55 minor minerals (including building and other minerals), 10 metallic minerals, and 3 atomic minerals. Non-metallic minerals include coal, limestone, mica, dolomite, phosphate, gypsum, and others. India is the third-largest producer of coal. In India, coal production stood at 729.10 million tonnes (MT) in 20 and reached 304.88 MT in 2021 (as of October 2020). This, in turn, is driving the demand for hydraulic equipment that is extensively utilized all over the mining industry across several applications. Several kinds of hydraulic equipment used in the mining industry include draglines, wheel dozers, electric rope shovels, conveyors, hybrid shovels, blasthole drills, mobile mining crushers, and more.
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The market is segmented based on type, product, and end-user industry. Based on type, the market is classified into mobile hydraulics and industrial hydraulics. Based on the product, the market is classified into motors and pumps, valves, cylinders, and others. Based on the end-user industry, the market is classified into construction and mining, agriculture, oil and gas, automotive, aerospace and defense, and others. Growth in oil and gas production is expected to further accelerate market growth. As per the India Brand Equity Foundation (IBEF), crude oil production in India stood at 30.5 million metric tonnes (MMT) in 2020. Hydraulic equipment is one of the most important elements associated with the offshore industry and is normally located where spillage or leakage can escape into marine settings.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
India Hydraulic Equipment Market-Segmentation
By Type
- Mobile Hydraulics
- Industrial Hydraulics
By Product
- Motors and Pumps
- Valves
- Cylinders
- Others
By End-User Industry
- Construction and Mining
- Agriculture
- Oil and Gas
- Automotive
- Aerospace and Defense
- Others
The Report Covers
- Comprehensive research methodology of the India 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 India hydraulic equipment market.
- Insights about market determinants which are stimulating the India hydraulic equipment market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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