Europe hydraulic equipment market is estimated to grow at a CAGR of 3.8% during the forecast period. The market was valued at nearly $12.8 billion in 2019, which is estimated to reach nearly $16.6 billion in 2026. Some pivotal factors contributing to the market growth include significant automobile production and rising demand for mobile hydraulics. As per the European Automobile Manufacturers’ Association, in December 2019, the demand for EU passenger cars rose 21.7% coupled with the surge in car sales in France (21.7%) and Sweden (109.3%). There is a significant presence of major automobile companies such as Volkswagen Group, Audi AG, and Fiat Chrysler Automobiles N.V. in the region. 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. 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.
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Based on the country, the market is segmented into UK, Germany, France, Spain, Italy, and the Rest of Europe. Germany hydraulic equipment market is significantly driven by the significant production of automobiles and growth in the aerospace and defense industry. As per the Aerospace and Defense Industries Association of Europe (ASD), the European aerospace and defense industry generated a turnover of nearly $291.7 billion in 2019. This, in turn, is driving the adoption of hydraulic equipment that is used in certain places in modern aircraft which include thrust reversers, primary flight controls, flap/slat drives, emergency hydraulic-driven electrical generators, rudders, landing gear, cargo doors, nose wheel steering, and spoilers. Hydraulic systems provide several benefits as power sources for operating several aircraft units. It incorporates the benefits of ease of inspection, lightweight, ease of installation, and fewer maintenance requirements.
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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
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
Europe Hydraulic Equipment Market– Segment by Country
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
The Report Covers
- Comprehensive research methodology of the Europe 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 Europe hydraulic equipment market.
- Insights about market determinants which are stimulating the Europe 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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