Asia-Pacific hydraulic equipment market is estimated to grow at a CAGR of nearly 5.2% during the forecast period. The market was valued at nearly $16.3 billion in 2019, which is estimated to reach at nearly $23.2 billion in 2026. Some pivotal factors accelerating the market growth include a significant rise in construction and mining industry and expansion of oil and gas operations. In October 2019, the National Development and Reform Commission (NDRC), China approved 21 infrastructure projects, which were valued at a minimum of $107.8 billion. A sharp rise in the approval of infrastructure project signifies larger infrastructure spending in the future, supporting to stabilize China’s economy. A large number of equipment found on construction sites globally is driven by hydraulic power. This comprises hydraulic final drive motors that are used for converting hydraulic power to torque to support diggers, track loaders, backhoes, and bulldozers, to push or carry heavy loads. Hydraulic wheel motors are also vital for wheeled machines, including wheeled excavators, backhoes, skid steer loaders, and even forklifts.
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Based on the country, the market is segmented into China, India, Japan, and Rest of Asia-Pacific. China hydraulic equipment market is significantly driven by the expansion of automotive and oil and gas industry. In addition, the expansion of hydraulic equipment facility has been witnessed in the country. For instance, in January 2020, Linde Hydraulics GmbH & Co. KG opened its new manufacturing plant in Weifang, China that has the capacity to manufacture 100,000 units annually. 80% of the manufacturing capacity will be dedicated to motors and pumps and 20% for valve technology. The units manufactured in the plant will enable the company to quickly supply the Asian market with a highly customer-oriented focus and can offer more localized units with market-oriented prices.
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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
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
Asia-Pacific Hydraulic Equipment Market– Segment by Country
- China
- India
- Japan
- Rest of Asia-Pacific
The Report Covers
- Comprehensive research methodology of the Asia-Pacific 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 Asia-Pacific hydraulic equipment market.
- Insights about market determinants which are stimulating the Asia-Pacific 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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