The market was valued at nearly $10.1 billion in 2019, which is estimated to reach nearly $13.8 billion in 2026. Some pivotal factors encouraging market growth include the rising minerals mining operations and significant growth in the aerospace and defense industry. As per the US Geological Survey (USGS), in 2019, the US mines produced nearly $86.3 billion in minerals in 2019, which is more than $2 billion higher compared to revised 2018 production totals. The materials that can be extracted from the seabed comprise aluminium (bauxite+ e), mineral sands (ilmenite, rutile, zircon), rocks salts, gold, tin (cassiterite), and diamond deposits.
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Some key players operating in the market include Daikin Industries, Ltd., Bosch Rexroth AG, Danfoss A/S, Emerson Electric Co., and Parker-Hannifin Corp. The market players are using some key strategies to increase their market share. For instance, in December 2019, Eaton Corp. launched four new hydraulics products for the Indian market, which includes Steering unit 5SQ, Eaton Spiral hose EC640, X70 closed-circuit piston, and plug-in motor, and Cast Iron piston motor 743XX. These new products are designed to offer end-users and customers reliable, robust, and efficient management of power for applications that require higher pressure and operate under arduous conditions.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
North America 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
North America Hydraulic Equipment Market– Segment by Country
- US
- Canada
The Report Covers
- Comprehensive research methodology of the North America 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 North America hydraulic equipment market.
- Insights about market determinants which are stimulating the North America 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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