Global hydraulic power unit market is expected to experience boom over the forecast period owing to rising construction and increasing production capacities of oil fields coupled with growing stress on the agricultural sector. It had witnessed considerable growth in the past decades since its implementation in hydraulic machinaries. Hydraulic power unit is a vital part of a hydraulic system as it can generate a significant quantum of power to initiate mostly any type of hydraulic ram. They draw power using the Pascal’s law, i.e., through ratios of area and pressure. Hydraulic power unit market includes applications such as machine tools, aerospace test equipment, automation systems, meat processing machinery, mobile equipment, rolling mill machinery and material handling equipment. Also, they are applied in agricultural equipment, paper mill machinery, oil exploration, oil spill clean-up equipment, industrial process, marine equipment, construction equipment, and theatrical & production equipment. With rising demand for these machineries, the hydraulic power unit market is expected to witness high growth as a result of rapid industrialization.
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A hydraulic system applies enclosed fluid to transmit energy from one point to another, and thus, creates linear motion, rotation, or force. Hydraulic power unit implements the pressure that runs cylinders, motors, and other parts of a hydraulic system. These power units, unlike standard pumps, use pervasive pressurization networks for moving fluid; and comprise of temperature control devices. The mechanical specifications and characteristics of a hydraulic power unit defines the kind of projects it will be effective for.
In terms of applications, hydraulic power unit market can be segmented into industrial, mobile, and other intermittent or medium duty applications. The major portion of the market is accrued to the mobile applications owing to the ability of providing higher power transmission in a comparatively small size. Industrial application is utilized primarily in industries, such as steel and automotive where heavy duty applications are required. Rising agriculture and construction activities, coupled with the replacement of old units, is the key driver for the hydraulic power unit market.
In terms of regions, hydraulic power unit market can be segmented into North America, Asia Pacific, Europe, Latin America and Africa & the Middle East. Among these, the highest growth rates, over the past few years, was witnessed by Asia Pacific, owing to numerous construction activities and higher industrial investment in the region. On the other hand, North America and Europe enjoyed the dominant share of the hydraulic power unit market, as of 2013. Meanwhile, Africa and Latin America enjoyed decent market share, owing to application of hydraulic power units in many oil field operations, material handling and construction equipment.
Over the forecast period, Asia Pacific is expected to maintain consistent growth, owing to huge upcoming infrastructural projects, increasing demand for agricultural outputs and growing housing developments. On the other hand, the European hydraulic power unit market is expected to witness below average growth owing to matured construction sector in the region. African and Latin American markets are expected to grow over the forecast period on account of increasing oil exploration activities coupled with rising standard of living demanding better housing facilities and growing stress on agricultural outputs.
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The major key players in this market include Parker Hannifin Corporation; Bosch Rexroth AG; Brevini Fluid Power S.p.A; Nachi-Fujikoshi Corporation, Hydac International GmbH, and Weber Hydraulik GmbH among others.
Global hydraulic power unit market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hydraulic power unit market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of hydraulic power unit are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new hydraulic power unit. These factors have benefited the growth of the global market for hydraulic power unit. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global hydraulic power unit industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for hydraulic power unit. The global hydraulic power unit market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Market By Components
· Hydraulic motors
· Hydraulic pumps
· Accessories (valves, tubes, filters, regulators, and instruments)
Market By Application
· Intermittent applications
Market By End Use Industry
· Truck & bus
· Industrial machineries
Market By Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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The study is a source of reliable data on:
– Market segments and sub-segments
– Market trends and dynamics
– Supply and demand
– Market size
– Current trends/opportunities/challenges
– Competitive landscape
– Technological breakthroughs
– Value chain and stakeholder analysis
is a freelancer, a graduate of the University of Pennsylvania with a BA in English, he studied accounting at the Wharton School of Business, and currently lives in Staten Island has been covering business and technology for a variety of publications since 1989. He worked for Red Herring, Beyond Computing & Accounting Technolgy. He covers accounting, taxes, finance, government news & technology for the site