India hydraulic equipment market is estimated to grow at a CAGR of nearly 6.2% during the forecast period. The expansion of the aerospace and defense industry is offering an opportunity for market growth. Emerging demand for large aircraft from Indian carriers, including Indigo and SpiceJet has been witnessed in the country. Therefore, several India’s aerospace manufacturing and services are expected to be performed in the country. As per the India Brand Equity Foundation (IBEF), the Indian aerospace & defense (A&D) market is estimated to reach $70 billion by 2030, which is significantly led by the growing demand for advanced infrastructure and government push.
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In the aerospace and defense sector, certain places where hydraulics plays a crucial role in modern aircraft include thrust reversers, primary flight controls, flap/slat drives, emergency hydraulic-driven electrical generators, rudders, landing gear, cargo doors, nose wheel steering, and spoilers. Hydraulics are also used in military aircraft on gun drives, hydraulic-motor-driven-fan heat exchangers, and weapons-bay doors. The operation of flight control surfaces, landing gear, brakes, and flaps, is significantly accomplished by hydraulic power systems. It incorporates the benefits of ease of inspection, lightweight, ease of installation, and fewer maintenance requirements. Hydraulic operations are nearly 100% efficient, with only negligible loss resulted owing to the fluid friction.
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Scope of the India Hydraulic Equipment Market
Market Coverage
· Market number available for 2019-2026
· Base year- 2019
· Forecast period- 2020-2026
· Segment Covered- By Type, Product, and End-User Industry
· Competitive Landscape- Bosch Rexroth AG, Danfoss A/S, Linde Hydraulics GmbH & Co. KG, Daikin Industries, Ltd., and Kawasaki Heavy Industries, Ltd.
Recent Strategic Initiatives in the India Hydraulic Equipment Market
· In February 2019, Kawasaki Heavy Industries, Ltd. declared that a new plant had been completed at Wipro Kawasaki Precision Machinery Pvt Ltd., which produces, sells, and offers after-sales services for hydraulic equipment for the construction industry in India. Owing to the emerging demand for hydraulic excavators in India, the company decided to build this plant in Bengaluru, along with a current plant in the same city. The strategy reflects the company’s commitment to fulfill the demand for hydraulic equipment utilized by local construction machinery manufacturers and to generate new demand.
· In January 2020, Larsen & Toubro revealed a new Komatsu PC210LC-10M0 hydraulic excavator. It is 20% more productive and 20% more fuel-efficient in relation to PC210LC-8M0. is developed especially for the Indian market. This excavator is intended to perform in the most challenging work environment and delivers superior durability, reliability, and versatility in a comprehensive range of applications.
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
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
