The global hydraulic components market size was valued at USD 62.7 billion in 2022, and it is estimated to reach USD 88.4 billion by 2027, with a registering CAGR of 4% during the forecast period.

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 capable of moving heavier loads as well as providing greater force than mechanical, electrical, or pneumatic systems. The fluid power system means it can easily cope with a large weight range without having to use gears, pulleys, or heavy leavers. The directional control valve directs the flow of fluid, the pressure control valve will monitor and regulate the pressure of fluids, and the flow control valve controls the fluid flow through the system. The article Types of Hydraulic Valve 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.).

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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 the market growth. The rising adoption of hydraulic components for applications in heavy-duty construction equipment, trucks, excavators, cranes, wheel loaders, and bulldozers drives the market growth. The growing demand for hydraulic machines in the agriculture sector 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 as these components needs to be regularly checked for such as leaks, lubricants, fibers, and others is the major factor to restraint the market growth.

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 2022 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 2022 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 share market in the hydraulic component market in 2022 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 dominance of the region is the growth and popularity hydraulic component market and the increasing investments being made by manufacturers toward electronics and other major applications and this is likely to create growth in the region’s market. The increasing 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 hydraulic components market in the region leading to global market growth.

North America is expected to be growing lucratively in the hydraulic components market.

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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 moulding machines, and steel manufacturing.

On Oct. 24, 2022, Danfoss Power Solutions showcased its broad portfolio of construction machines at Bauma 2022. The company demonstrated its solutions used in several applications, including telehandlers, excavators, skid steer loaders, drill rigs, and wheel loaders. Danfoss believes that its capabilities will drive the green transition of construction machinery through electrification, autonomy, digitalization, and connectivity.

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