Europe hydraulic equipment market is estimated to grow at a CAGR of 3.8% during the forecast period. Significant oil and gas production is supporting to drive market growth. As per the Eurostat, in 2018, the major oil producers in the EU were Denmark (5.8 million tons of oil equivalent (Mtoe)), followed by Italy (4.7 Mtoe) and Romania (3.4 Mtoe each). In addition, Russia is among the major producers and exporters of crude oil. This, in turn, is driving the demand for hydraulic equipment that is extensively used all over the oil and gas industry to transmit power.
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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. Bosch Rexroth is one of the providers of hydraulic drive and control solutions that offers a comprehensive series of applications, from oil rigs 100 m above sea level to equipment 5,000 m below. In marine and offshore markets, the company is active in dredging, shipbuilding, hydrodynamic research, and shipyard equipment. It offers an appropriate solution in drive and control technology, whether hydraulic, drive products, and solutions.
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A full Report of Europe Hydraulic Equipment Market is Available at: https://www.omrglobal.com/industry-reports/europe-hydraulic-equipment-market
Scope of the Europe 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
· Countries Covered- UK, Germany, France, Spain, Italy, and Rest of Europe
· Competitive Landscape- Bosch Rexroth AG, Danfoss A/S, Kawasaki Heavy Industries, Ltd., and Bucher Hydraulics GmbH
Recent Strategic Initiatives in the Europe 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.
Europe 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.)
