The Global Hydraulic Components Market was estimated at USD 62.7 billion in 2021, and it is expected to reach a revised size of USD 88.4 billion by 2027, with a CAGR of 4% over the foreseen period of 2022 - 2027.

Market Overview:

Hydraulic components are the basic components of hydraulic system equipment, divided into four categories: hydraulic pumps, control valves, actuators, and hydraulic accessories. Hydraulic systems are more capable of moving heavy loads and it provide greater force than pneumatic systems mechanical and electrical.

The fluid power system means it can easily drop with a heavy weight and doesn’t have to use gears, pulleys, or heavy leavers. The direction has the value of the flow of the fluid, and the pressure control valve monitors and regulates the pressure of fluids, and the flow. The article Types of Hydraulic Valves will provide more details on hydraulic valves. The major components that make up a hydraulic system are the reservoir, pump, valve, and actuator ( motor, cylinder, etc.).

Market Drivers:

The main factors that have considerably increased the demand for the hydraulic components market. The increasing investments and development in infrastructure and construction projects are driving the market’s revenue.

The increasing demand for hydraulic cylinders fuels the growth of the hydraulic component market. The increasing demand for improved machine safety drives market growth. The rising adoption of hydraulic components for applications heavy-duty construction equipment, trucks, excavators, cranes, wheel loaders, and bulldozers drives the market growth.

The growing demand for machines in agriculture is the major factor driving the market growth. The increasing requirement for material handling equipment to drive market growth.

Market Restraints:

The heavy maintenance expense of these components need and it is regularly checked with such as fibres, leaks, lubricants and others are the major factors in restraining the

market growth.

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Market Segmentation Analysis:

Hydraulic Components Market - By Product Type:

Hydraulic Pump
Hydraulic Motor
Valve
Cylinder
Others
Based on the product type: The Hydraulic Pump segment was recorded as the largest market share in the hydraulic components market in 2023 and it is anticipated to grow significantly during the forecast period.

Hydraulic Components Market – By Application:

Industrial
Mobile
Based on the application: The Industrial held the largest Share in the hydraulic components market in 2023 and it is anticipated to grow significantly during the forecast period.

Hydraulic Components Market – By End -User:

Construction
Agriculture
Material Handling
Automotive
Oil & Gas
Others
Based on the end-user: The Construction segment held the largest market in the hydraulic component market in

2023 and it is anticipated to grow significantly during the forecast period.

Market Regional Analysis:

The Asia Pacific is the largest growing region in the hydraulic components market and is expected to grow significantly during the forecast period. Asia Pacific has a high availability in the countries such as China, Japan, India, Indonesia, and South Korea. The reason for this growth of the region is the growth and popularity hydraulic component market and the increasing investments being made by manufacturers of electronics and other major applications are liked to create growth in the region market. The hydraulic excavators have been increased due to a boost in the construction activity to

drive the region’s market growth. China is the largest market supporting the growth of hydraulic components. There has

been rapid growth in the market in the region leading to global market growth. North America is expected to grow lucratively in the hydraulic components market.

Latest Industry Developments:

In March 2018- Kawasaki Precision Machinery at Hannover Messe highlighted the electro-hydraulic hybrid system, Kawasaki Servo, for industrial applications. This new system combined the best Kawasaki technology to bring excellent controllability and high efficiency to applications, such as press machines, injection molding machines, and steel
On Oct. 24, 2022, Danfoss Power Solutions showcased its broad portfolio of construction machines at Bauma 2022.
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