Hydraulic Power Unit Market
Hydraulic Power Unit Market Forecasts to 2028 – Global Analysis By Operating Pressure Rating (Above 3000 PSI, 2000–3000 PSI, 750–2000 PSI, Up To 750 PSI), Type (Electric Hydraulic Power Unit, Gas Hydraulic Power Unit), End User (Construction Industry, Manufacturing, Automotive Industry, Aerospace), and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $7.47 BN |
|
Projected Year Value (2028) |
US $11.60 BN |
|
CAGR (2022 - 2028) |
7.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Middle East & Africa |
According to Stratistics MRC, the Global Hydraulic Power Unit Market is accounted for $7.47 billion in 2022 and is expected to reach $11.60 billion by 2028 growing at a CAGR of 7.6% during the forecast period. A hydraulic power unit is a self-reliant system that includes motors, hydraulic pumps, and reservoirs. It can generate a lot of power, which can be used to drive any form of hydraulic ram. It uses a multi-stage pressurization network to transfer fluid while also adding temperature control devices. Hydraulic power units are also favored for many mobile and industrial applications due to their physical qualities, such as size, power supply, and pumping strength.
Rising number of construction activities and infrastructural development in various countries across the globe is creating high demand for hydraulics equipment. According to a combined study by Global Construction Perspective (GCP) and Oxford Economics, the construction industry is expected to reach a value of USD 15.5 trillion by 2030, among which, China, U.S., and India are expected to account for 57% of the global growth collectively. The construction industry contributed USD 900 billion to the US economy in the first three months of 2020. This, along with technological developments in the core construction and infrastructure industry, is expected to advance the hydraulic power unit Market trend further.
Market Dynamics:
Driver:
Increasing requirement for material handling equipment
Organizations across the world are dealing with issues connected with expanding labor costs. Expanding labor costs lead to diminishing relative efficiency. Numerous factors are impacting the increase in labor costs, which incorporate government regulations, supply-demand mismatch, and the shortage of skilled workforce. With the increase in labor costs, companies are finding it plausible to invest in automated solutions. The growing demand for automated solutions in diverse industries such as metal, automotive, construction, and mining is anticipated to drive the hydraulic power unit market. Hydraulic power unit is increasingly used to improve the function, controllability, power, and safety of material handling equipment. Hence, the rising demand for material handling equipment is driving the demand for the hydraulic power unit market.
Restraint:
Increased concerns regarding oil leaks
Hydraulic cylinders work on hydraulic fluids, primarily oil. Diverse factors such as improper fittings, acquaintances and ecological parameters including shocks, vibrations, and temperature variations, lead to oil leakage in hydraulic cylinders. In industries, such as construction and mining, which require broad earthworks and the deployment of large fixed and mobile plants in an environmentally sensitive location, the problem of leakage persists largely. This leakage is not only costly but also perilous to the environment and workforce. Further, it damages the environment as industries such as the forestry, marine, mining, and agriculture end up releasing this fluid (oil) into lakes, rivers, or soil, for which the cleanup cost paid by governments is quite high.
Opportunity:
Advent of integrated Industry 4.0 with IoT
The global economy is currently witnessing the adoption of industrial automation across end-user industries, which is called the Industry 4.0 revolution. Automation is required to integrate all the systems in warehouses and distribution centers. For instance, integrated hydraulic power unit that is integrated with a network provides an opportunity to improve operations and reduces energy costs. The data collected from sensors are stored on the cloud and can be accessed instantly for further analysis. Therefore, material handling processes, which are a key part of any facility, are increasingly being automated to adjust fluids, air pressure, and temperature. This is expected to increase the demand for advanced, automated hydraulic power unit during the forecast period, particularly as several companies are expected to adopt Industry 4.0.
Threat:
Volatility in manufacturing cost
Fluctuations in prices of raw materials such as stainless steel, iron ore, aluminum, bronze, and other metal alloys have caused volatility in the production cost of hydraulic power unit. This, in turn, has led to a demand-supply gap. Moreover, the components used to manufacture hydraulic equipment components such as motors, valves, and hydraulic cylinders are expensive. Hence, high initial investment is required, which affects the cost of ownership of equipment, thereby reducing the profit margins of manufacturers.
The 750–2000 PSI segment is expected to be the largest during the forecast period
The 750–2000 PSI segment is estimated to have a lucrative growth, as 750–2000 PSI are involved in food processing, beverage processing, simple tools used in cutting, grinding, or milling applications.
The construction industry segment is expected to have the highest CAGR during the forecast period
The construction industry segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the ongoing and upcoming projects in the construction industry, growth of the real estate industry, and increase in residential and commercial construction worldwide. There was a rapid increase in construction across the United States and Canada. The residential sector was a key driver of the increasing demand for more housing units needing HPU. In January 2020, there were nearly 343 pre-construction coal-powered thermal power plants worldwide. The pre-construction plants are estimated to have a capacity of around 299 GW, which may drive the HPU market considerably.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to the rapid industrialization in developing countries such as China, India, Malaysia, and other Southeast Asian countries, growing energy requirements, and increased construction activities. Potential growth of the manufacturing business in China has led to an increase in the HPU market. China has the highest number of under-construction coal-powered plants. The top key players in the hydraulic power unit market are located in the region.
Region with highest CAGR:
Middle East & Africa is projected to have the highest CAGR over the forecast period due to the rise in construction activities spurred by ongoing and upcoming international events, increasing oil exploration activities coupled with rising standard of living demanding better housing facilities, and growing stress on agricultural outputs.
Key players in the market
Some of the key players profiled in the Hydraulic Power Unit Market include Bailey International LLC, Weber Hydraulik GmbH, Bosch Rexroth AG., Nachi-Fujikoshi Corporation, Brevini Fluid Power S.p.A, Stromag, Hydac International GmbH, Parker Hannifin Corporation, Eaton Corporation, Hydro-tek Co Ltd., HCS Control Systems Ltd., Shanghai Mocen Fluid Power Control Co., Ltd., MTS Systems Corporation., Dana Incorporated, Atlas Copco AB, and Related Fluid Power Ltd.
Key Developments:
In January 2022, Stromag launched its all-new range of SHPU hydraulic power packs, suitable for use with Stromag hydraulic brakes and clutches. Replacing all previous hydraulic power unit (HPU) models, the new range offers customers simplified specifications, increased modularity, and excellent performance rolled into a compact package.
In August 2012, Related Fluid Power Ltd. launched its 3kW DC electric fan-cooled motor that has increased the capabilities within its range of Mini130 and Mini150 hydraulic power units. This product development has helped the company enhance its product line of hydraulic power units.
Operating Pressure Ratings Covered:
• Above 3000 PSI
• 2000–3000 PSI
• 750–2000 PSI
• Up To 750 PSI
Types Covered:
• Electric Hydraulic Power Unit
• Gas Hydraulic Power Unit
Products Covered:
• Less than 0.75 GPM
• 0.75 - 4 GPM
• 4-10 GPM
• 10 - 21 GPM
• Above 21GPM
Applications Covered:
• Industrial
• Mobile
• Water & Wastewater Treatment
• Intermittent or Medium-Duty Applications
• Subsea Equipment
• Material Handling
• Aerospace Test Equipment
• Machine Tools
• Meat Processing Machinery
• Paper Mill Machinery
• Agricultural Equipment
• Oil Fields
• Automation
• Theatrical and Production Equipment
• Construction Equipment
• Rolling Mill Machinery
• Government and Military Equipment
• Clean up Equipment for Oil Spills
• Marine Equipment
End Users Covered:
• Construction Industry
• Manufacturing
• Infrastructure Industry
• Machining Industry
• Automotive Industry
• Energy Industry
• Civil Engineering Projects
• Aerospace
• Engineering Vehicles
• Metallurgical
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Hydraulic Power Unit Market, By Operating Pressure Rating
5.1 Introduction
5.2 Above 3000 PSI
5.3 2000–3000 PSI
5.4 750–2000 PSI
5.5 Up To 750 PSI
6 Global Hydraulic Power Unit Market, By Type
6.1 Introduction
6.2 Electric Hydraulic Power Unit
6.3 Gas Hydraulic Power Unit
7 Global Hydraulic Power Unit Market, By Product
7.1 Introduction
7.2 Less than 0.75 GPM
7.3 0.75 - 4 GPM
7.4 4-10 GPM
7.5 10 - 21 GPM
7.6 Above 21GPM
8 Global Hydraulic Power Unit Market, By Application
8.1 Introduction
8.2 Industrial
8.3 Mobile
8.4 Water & Wastewater Treatment
8.5 Intermittent or Medium-Duty Applications
8.6 Subsea Equipment
8.7 Material Handling
8.8 Aerospace Test Equipment
8.9 Machine Tools
8.10 Meat Processing Machinery
8.11 Paper Mill Machinery
8.12 Agricultural Equipment
8.13 Oil Fields
8.14 Automation
8.15 Theatrical and Production Equipment
8.16 Construction Equipment
8.17 Rolling Mill Machinery
8.18 Government and Military Equipment
8.19 Clean up Equipment for Oil Spills
8.20 Marine Equipment
9 Global Hydraulic Power Unit Market, By End User
9.1 Introduction
9.2 Construction Industry
9.3 Manufacturing
9.4 Infrastructure Industry
9.5 Machining Industry
9.6 Automotive Industry
9.7 Energy Industry
9.8 Civil Engineering Projects
9.9 Aerospace
9.10 Engineering Vehicles
9.11 Metallurgical
10 Global Hydraulic Power Unit Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Bailey International LLC
12.2 Weber Hydraulik GmbH
12.3 Bosch Rexroth AG.
12.4 Nachi-Fujikoshi Corporation
12.5 Brevini Fluid Power S.p.A
12.6 Stromag
12.7 Hydac International GmbH
12.8 Parker Hannifin Corporation
12.9 Eaton Corporation
12.10 Hydro-tek Co Ltd.
12.11 HCS Control Systems Ltd.
12.12 Shanghai Mocen Fluid Power Control Co., Ltd.
12.13 MTS Systems Corporation.
12.14 Dana Incorporated
12.15 Atlas Copco AB
12.16 Related Fluid Power Ltd.
List of Tables
1 Global Hydraulic Power Unit Market Outlook, By Region (2020-2028) ($MN)
2 Global Hydraulic Power Unit Market Outlook, By Operating Pressure Rating (2020-2028) ($MN)
3 Global Hydraulic Power Unit Market Outlook, By Above 3000 PSI (2020-2028) ($MN)
4 Global Hydraulic Power Unit Market Outlook, By 2000–3000 PSI (2020-2028) ($MN)
5 Global Hydraulic Power Unit Market Outlook, By 750–2000 PSI (2020-2028) ($MN)
6 Global Hydraulic Power Unit Market Outlook, By Up To 750 PSI (2020-2028) ($MN)
7 Global Hydraulic Power Unit Market Outlook, By Type (2020-2028) ($MN)
8 Global Hydraulic Power Unit Market Outlook, By Electric Hydraulic Power Unit (2020-2028) ($MN)
9 Global Hydraulic Power Unit Market Outlook, By Gas Hydraulic Power Unit (2020-2028) ($MN)
10 Global Hydraulic Power Unit Market Outlook, By Product (2020-2028) ($MN)
11 Global Hydraulic Power Unit Market Outlook, By Less than 0.75 GPM (2020-2028) ($MN)
12 Global Hydraulic Power Unit Market Outlook, By 0.75 - 4 GPM (2020-2028) ($MN)
13 Global Hydraulic Power Unit Market Outlook, By 4-10 GPM (2020-2028) ($MN)
14 Global Hydraulic Power Unit Market Outlook, By 10 - 21 GPM (2020-2028) ($MN)
15 Global Hydraulic Power Unit Market Outlook, By Above 21GPM (2020-2028) ($MN)
16 Global Hydraulic Power Unit Market Outlook, By Application (2020-2028) ($MN)
17 Global Hydraulic Power Unit Market Outlook, By Industrial (2020-2028) ($MN)
18 Global Hydraulic Power Unit Market Outlook, By Mobile (2020-2028) ($MN)
19 Global Hydraulic Power Unit Market Outlook, By Water & Wastewater Treatment (2020-2028) ($MN)
20 Global Hydraulic Power Unit Market Outlook, By Intermittent or Medium-Duty Applications (2020-2028) ($MN)
21 Global Hydraulic Power Unit Market Outlook, By Subsea Equipment (2020-2028) ($MN)
22 Global Hydraulic Power Unit Market Outlook, By Material Handling (2020-2028) ($MN)
23 Global Hydraulic Power Unit Market Outlook, By Aerospace Test Equipment (2020-2028) ($MN)
24 Global Hydraulic Power Unit Market Outlook, By Machine Tools (2020-2028) ($MN)
25 Global Hydraulic Power Unit Market Outlook, By Meat Processing Machinery (2020-2028) ($MN)
26 Global Hydraulic Power Unit Market Outlook, By Paper Mill Machinery (2020-2028) ($MN)
27 Global Hydraulic Power Unit Market Outlook, By Agricultural Equipment (2020-2028) ($MN)
28 Global Hydraulic Power Unit Market Outlook, By Oil Fields (2020-2028) ($MN)
29 Global Hydraulic Power Unit Market Outlook, By Automation (2020-2028) ($MN)
30 Global Hydraulic Power Unit Market Outlook, By Theatrical and Production Equipment (2020-2028) ($MN)
31 Global Hydraulic Power Unit Market Outlook, By Construction Equipment (2020-2028) ($MN)
32 Global Hydraulic Power Unit Market Outlook, By Rolling Mill Machinery (2020-2028) ($MN)
33 Global Hydraulic Power Unit Market Outlook, By Government and Military Equipment (2020-2028) ($MN)
34 Global Hydraulic Power Unit Market Outlook, By Clean up Equipment for Oil Spills (2020-2028) ($MN)
35 Global Hydraulic Power Unit Market Outlook, By Marine Equipment (2020-2028) ($MN)
36 Global Hydraulic Power Unit Market Outlook, By End User (2020-2028) ($MN)
37 Global Hydraulic Power Unit Market Outlook, By Construction Industry (2020-2028) ($MN)
38 Global Hydraulic Power Unit Market Outlook, By Manufacturing (2020-2028) ($MN)
39 Global Hydraulic Power Unit Market Outlook, By Infrastructure Industry (2020-2028) ($MN)
40 Global Hydraulic Power Unit Market Outlook, By Machining Industry (2020-2028) ($MN)
41 Global Hydraulic Power Unit Market Outlook, By Automotive Industry (2020-2028) ($MN)
42 Global Hydraulic Power Unit Market Outlook, By Energy Industry (2020-2028) ($MN)
43 Global Hydraulic Power Unit Market Outlook, By Civil Engineering Projects (2020-2028) ($MN)
44 Global Hydraulic Power Unit Market Outlook, By Aerospace (2020-2028) ($MN)
45 Global Hydraulic Power Unit Market Outlook, By Engineering Vehicles (2020-2028) ($MN)
46 Global Hydraulic Power Unit Market Outlook, By Metallurgical (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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