Hydraulic Power Unit Market Share

  • Report ID: 5160
  • Published Date: Jun 07, 2024
  • Report Format: PDF, PPT

Hydraulic Power Unit Market Share

APAC Market Forecast

Asia Pacific hydraulic power unit market is anticipated to hold the largest with a share of about 39% by the end of 2036. The market growth in the region is also expected on account of the increasing demand for energy, the growing population, and the presence of emerging economies that are rapidly adopting advanced technologies. The region is also expected to benefit from the increasing investment in infrastructure and the development of smart cities. For instance, in the budget 2022 23 the Indian government decided to allocate 35.4% of funds, toward infrastructure development. This increase raised the expenditure from INR 5.54 trillion in the fiscal year (FY 2021 2022) to INR 7.50 trillion in the upcoming fiscal year (FY 2022 23). As a result, the demand for Hydraulic Power Units is expected to rise. This is because these units are used in many infrastructure projects, such as bridge construction and road building.

North American Market Analysis

The North America hydraulic power unit market is estimated to be the second largest, registering a share of about 29% by the end of 2036. The market’s expansion can be attributed majorly to the growing demand for industrial automation in the region, as well as the increasing number of construction activities in the region. With automation, businesses are looking to increase efficiency and reduce manual labor. Hydraulic power units allow businesses to automate processes that would otherwise require manual labor, such as lifting and moving heavy objects. Additionally, the presence of key industry players in the region and the increasing use of hydraulic power units in the automotive and aerospace sectors are also expected to drive the market.

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Hydraulic Power Unit Market share
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Author Credits:  Dhruv Bhatia

  • Report ID: 5160
  • Published Date: Jun 07, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The main factors driving the growth of the hydraulic power unit market are increasing demand from various industries such as construction, agriculture, and manufacturing, as well as technological advancements that have enabled the development of more efficient hydraulic power units.

The market size of hydraulic power units is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2035.

The major players in the market are Eaton Corporation, Stromag, Brevini Fluid Power S.P.A, KTI Hydraulics Inc., Tokyo Keiki U.S.A., Inc., Hydac International GmbH, Bailey International LLC, Toshiba Machine Co., Ltd., and others.

The auxiliary segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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