Germany hydraulic equipment market is estimated to grow at a CAGR of 4.5% during the forecast period. As per the German Association of the Automotive Industry (VDA), the exports of passenger cars reported in the country was 338,440 in November 2020, which increased from 11% compared to November 2019. In December 2020, the production of passenger cars reported was 280,800, an increase of 1% compared to December 2019. There is a significant presence of major automobile companies such as Volkswagen Group and Audi AG in the country. This, in turn, is resulting in a large automobile production base in the region that is driving the demand for hydraulic equipment that is suitable for application in suspension, braking, and power steering systems. Automobiles need hydraulic pumps, hydraulic brakes, and hydraulic motors, to achieve their complete range of functionality. One of the essential uses of hydraulics in motor vehicles is advanced braking systems. Hydraulically operated brakes are highly responsive and implement very quickly than electric brakes. Additionally, a considerable amount of hydraulic equipment is required during automobile production to move heavy parts from one place to another.
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Scope of the Germany 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, Kawasaki Heavy Industries, Ltd., and Bucher Hydraulics GmbH
Recent Strategic Initiatives in the Germany Hydraulic Equipment Market
· In October 2020, Bosch Rexroth introduced a new e-commerce portal which is designed to offer the easiest access to opted authorized Bosch Rexroth products. This e-commerce portal named BuyRexroth.com offers the easiest access to selected Rexroth factory automation and hydraulic components. This platform features same-day shipping, user-friendly search options, and offers bought by credit card facility.
· In January 2020, Danfoss signed an agreement to acquire Eaton’s Hydraulics business for $3.3 billion. This acquisition is completely in line with the strategy of Danfoss to reinforce its core businesses and increase customer value. The combined business will be beneficial for both distributors and customers by providing industry-leading technology and a much comprehensive portfolio of hydraulic solutions.
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Germany 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.)
