Asia-Pacific hydraulic equipment market is estimated to grow at a CAGR of 5.2% during the forecast period. Rising investment in oil and gas operations is supporting to drive market growth. As per the Ministry of Natural Resources, from May 2020, foreign firms registered in China with net assets no lower than $43 million will be permitted to take part in oil and gas exploration and production. This strategy is a part of Beijing’s focus to enhance oil and gas development. This, in turn, will further drive the demand for hydraulic equipment that is extensively used all over the oil and gas industry to transmit power. These equipment are one of the most important elements associated with the offshore industry and are normally located where spillage or leakage can escape into marine settings. Hydraulic systems can be utilized as a central power system for several wells and to pump a single well. Hydraulic lift pumps are flexible and are beneficial for wells producing any volume, from low to high.
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Scope of Asia-Pacific Hydraulic Equipment Market
Market Coverage
- Market number available for 2021-2030
- Base year- 2023
- Forecast period- 2023-2030
- Segment Covered- By Type, Product, and End-User Industry
- Countries Covered- China, India, Japan, and Rest of Asia-Pacific
- Competitive Landscape- Bosch Rexroth AG, Danfoss A/S, Linde Hydraulics GmbH & Co. KG, Daikin Industries, Ltd., and Kawasaki Heavy Industries, Ltd.
Asia-Pacific 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
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Asia-Pacific Hydraulic Equipment Market– Segment by Country
- 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.
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