Market Size of Hydraulic Power Unit Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Hydraulic Power Unit Market Analysis
The hydraulic power unit market is expected to register a CAGR of more than 5.5% during the forecast period (2022 - 2027). The COVID-19 outbreak in Q1 2020 majorly impacted energy systems worldwide, curbing investments and threatening to slow the sales of hydraulic power units. Factors such as increasing construction activities worldwide, rapid industrialization, and the growing oil and gas market are likely to increase the demand for hydraulic pump units, thus driving the demand during the forecast period. However, increasing demand for alternative power systems, such as electromechanical and electric drives, with efficient, cheap, and shorter lead times are some of the major factors hindering the market's growth.
- The construction segment is anticipated to dominate the market due to the ongoing and upcoming projects in the construction industry. The market is expected to witness the highest growth during the forecast period.
- Increased spending on automation technology for automotive and defense industries is expected to create opportunities for the market players.
- Asia-Pacific is expected to dominate the market, with a majority of the demand coming from countries like China and India.
Hydraulic Power Unit Industry Segmentation
The scope of the hydraulic power unit market report includes:
| End User | |
| Manufacturing | |
| Construction | |
| Other End Users |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Hydraulic Power Unit Market Size Summary
The hydraulic power unit market is poised for significant growth, driven by factors such as increasing global construction activities, rapid industrialization, and the expanding oil and gas sector. Despite the initial setbacks caused by the COVID-19 pandemic, which impacted energy systems and slowed investments, the market is expected to recover and thrive. The construction segment is anticipated to lead the market, fueled by ongoing and upcoming projects worldwide. However, the market faces challenges from the rising demand for alternative power systems like electromechanical and electric drives, which offer more efficient and cost-effective solutions. The Asia-Pacific region is expected to dominate the market, with substantial demand from countries such as China and India, where industrialization and infrastructure development are on the rise.
The hydraulic power unit, comprising components like hydraulic motors, pumps, and reservoirs, plays a crucial role in various industries. The market's growth is further supported by increased spending on automation technology in the automotive and defense sectors, creating opportunities for market players. In North America, the construction boom, particularly in the residential sector, has significantly boosted the demand for HPUs. Similarly, large-scale construction projects in Europe and the ongoing development of coal-powered thermal plants worldwide are expected to drive market expansion. Key players in the fragmented market include Bosch Rexroth AG, Parker-Hannifin Corporation, Nachi-Fujikoshi Corp., Dana Incorporated, and HYDAC INTERNATIONAL GmbH, with innovations like Stromag's new range of hydraulic power packs enhancing market offerings.
Hydraulic Power Unit Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 End User
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2.1.1 Manufacturing
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2.1.2 Construction
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2.1.3 Other End Users
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2.2 Geography
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2.2.1 North America
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2.2.2 Europe
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2.2.3 Asia-Pacific
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2.2.4 South America
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2.2.5 Middle-East and Africa
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Hydraulic Power Unit Market Size FAQs
What is the current Hydraulic Power Unit Market size?
The Hydraulic Power Unit Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)
Who are the key players in Hydraulic Power Unit Market?
Bosch Rexroth AG , Parker-Hannifin Corporation , Dana Incorporated , HYDAC INTERNATIONAL GmbH and Nachi-Fujikoshi Corp. are the major companies operating in the Hydraulic Power Unit Market.
