Market Size of Mobile Hydraulic Valves Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 5.00 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
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?
Mobile Hydraulic Valves Market Analysis
The mobile hydraulic valves market is expected to record a CAGR of about 5% during the forecast period. The increasing industrialization and growing investment in the construction sector to replace the aging infrastructure across various countries are among the significant factors driving the demand for mobile hydraulic valves.
- In general, hydraulic valves are primarily used to direct the flow of a liquid medium, usually oil, properly through the hydraulic system. These valves are designed according to different end-user requirements and international standards. Mobile hydraulic valves are mainly used with mobile hydraulic machines such as cranes, forklifts, excavators, and air seeders and are used in various environments.
- In the last few decades, the industrial sector witnessed significant growth, and the increasing population and rapid urbanization played a crucial role in the sector's growth. Considering the direct correlation of the industrial sector with the economic development of any country, governments across nations are further developing the local industrial sector. As many mobile types of machinery are currently being used in the industrial sector, its growth is expected to drive the demand for mobile hydraulic valves.
- According to the United Nations Industrial Development Organization (UNIDO), in Q2 2022, global manufacturing production grew at a stable pace, with a Y-o-Y growth rate of 3.1%. While the industrial economies registered a growth rate of 2.6%, the manufacturing output of other industrializing economies registered a Y-o-Y output growth of 10.4%.
- The use of mobile hydraulic machinery, such as forklifts and cranes, is also increasing in the agricultural sector, especially in developed countries. Mobile hydraulic directional control valves are used in the agricultural industry for smooth operation, rapid response for precise fluid control, and low-pressure drop in machinery using hydraulic systems. Hence, the sector is expected to offer ample growth opportunities to the vendors operating in the mobile hydraulic valves market.
- However, performance limitations of these valves in operating conditions exposed to temperature fluctuations are among the significant factors challenging the market's growth. As oil is prone to ambient temperature, fast heat loss or gain can cause changes in oil viscosity, affecting the operation of hydraulic components, including valves. These valves should continuously be operated within the specified pressure limits to avoid component failure or leakage.
- The COVID-19 pandemic had a notable impact on the growth of the market as the widespread lockdowns imposed to curb the spread of the virus significantly impacted the productivity and day-to-day operations of the industrial sector. Supply chain disruptions were also among the significant factors affecting the industrial sector's growth. However, with the easing of restrictions across the world, all the major end-user industries of hydraulic valves are expected to witness an upward trend, thus impacting the growth of market positively.
Mobile Hydraulic Valves Industry Segmentation
The mobile hydraulic valves are generally utilized for halting, beginning, and controlling the working fluid stream. These valves can be designed in different formats to fulfill the requirements of end-use applications. The study analyzes various types of mobile hydraulic valves in terms of their features, end-use application, and demand across multiple sectors and geographies. The study also includes a comprehensive analysis of the current demand and supply trends and future growth opportunities, along with the impact of COVID-19.
By Type | |
Directional Control Valves | |
Pressure Control Valves | |
Flow Control Valves | |
Electro-hydraulic Valves |
By End-user Industry | |
Oil and Gas | |
Automotive | |
Chemical and Petrochemical | |
Agriculture | |
Construction | |
Mining | |
Other End-user Industries |
By Geography | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle-East and Africa |
Mobile Hydraulic Valves Market Size Summary
The mobile hydraulic valves market is poised for steady growth, driven by increasing industrialization and investments in the construction sector aimed at modernizing aging infrastructure. These valves, essential for directing fluid flow in hydraulic systems, are integral to mobile machinery such as cranes, forklifts, and excavators, which are widely used across various industries. The industrial sector's expansion, fueled by rapid urbanization and population growth, has led to heightened demand for mobile hydraulic valves. This trend is further supported by government initiatives to bolster local industries, particularly in regions like Asia Pacific, where countries such as China and India are emerging as manufacturing powerhouses. The agricultural sector also presents significant growth opportunities, with mobile hydraulic machinery becoming increasingly prevalent in developed countries.
Despite the promising growth prospects, the market faces challenges, including performance limitations of hydraulic valves under temperature fluctuations, which can affect oil viscosity and, consequently, valve operation. The COVID-19 pandemic had a notable impact, disrupting supply chains and affecting industrial productivity, but the easing of restrictions is expected to positively influence market growth. The oil and gas industry, with its demand for advanced machinery, continues to drive the need for mobile hydraulic devices. The market is moderately competitive, with established players like Parker Hannifin Corp and Danfoss AS, alongside new entrants adopting various growth strategies. Recent product launches, such as Helios Technologies' cross-compatibility solutions and Bieri Hydraulik AG's high-pressure valve series, highlight ongoing innovation and the industry's adaptability to evolving market needs.
Mobile Hydraulic Valves Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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1.4 Assessment of the Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Directional Control Valves
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2.1.2 Pressure Control Valves
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2.1.3 Flow Control Valves
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2.1.4 Electro-hydraulic Valves
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2.2 By End-user Industry
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2.2.1 Oil and Gas
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2.2.2 Automotive
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2.2.3 Chemical and Petrochemical
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2.2.4 Agriculture
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2.2.5 Construction
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2.2.6 Mining
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2.2.7 Other End-user Industries
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2.3 By Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 Latin America
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2.3.5 Middle-East and Africa
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Mobile Hydraulic Valves Market Size FAQs
What is the current Mobile Hydraulic Valves Market size?
The Mobile Hydraulic Valves Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Mobile Hydraulic Valves Market?
Poclain Hydraulics, OMAX Hydraulics Industrial , Danfoss AS, Parker Hannifin Corp. and Eaton Corporation PLC are the major companies operating in the Mobile Hydraulic Valves Market.