Top Companies in Hydraulic Power Unit Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research Market
Hydraulic Power Unit Market
The Global Hydraulic Power Unit Market is valued at USD 6.9 Billion in 2021 and is projected to reach USD 9.2 Billion by 2028 at a CAGR of 5.1% over the forecast period. The target market is expected to grow due to increased demand for machinery and equipment starting, accelerating, stopping, and decelerating on command due to Hydraulic Power Units. The increasing use of heavy machinery in various manufacturing industries for various applications is another factor anticipated to support the growth of the target market. Additionally, the Hydraulic Power Unit is necessary for the machine to operate continuously, regardless of how quickly it moves.
With increased industrialization investments and rising demand for agricultural products, including Hydraulic Power Units, the global market for these devices is anticipated to expand quickly throughout the forecasted period.
Throughout the forecast, it is expected that the Hydraulic Power Unit Market will experience a boom due to the expanding construction sector. Global urbanization, the root of the expansion, is causing the increase in demand for construction equipment. The growing use of construction equipment is thus a driving force behind the growth of the Hydraulic Power Unit Market.
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Amidst Exponential Growth in Hydraulic Power Unit Adoption, What Trends Should We Look Forward to?
- A key trend in the development of the Hydraulic Power Unit Market is the reduction of environmental impact and the adoption of more sustainable methods. Hydraulic Power Unit applications are moving more toward wind and solar power.
- The development of cutting-edge solutions is what has caused the Hydraulic Power Unit Market to rise. This includes advancements in sensor technology and data analytics, which allow for the real-time monitoring and management of Hydraulic Power Unit operations.
- Hydraulic Power Units can be operated wirelessly from anywhere in the world. This is ideal for outlying areas or situations when you need to be able to control your device without being present.
- Solar electricity is an excellent way to keep your Hydraulic Power Unit operational even without a conventional power supply. This renewable energy source is a terrific option for those who wish to be more sustainable because it can supplement or replace conventional energy sources.
The Hydraulic Power Unit Market is dominated by globally established players such as Brevini Fluid Power S.P.A (Italy), Bosch Rexroth AG (Germany), Nachi-Fujikoshi Corporation (Japan), Weber Hydraulik GmbH (Germany), Parker Hannifin Corporation (U.S.), Hydac International GmbH (Germany), Eaton Corporation (Ireland), Hydro-Tek Co Ltd. (South Korea), Bailey International L.L.C. (U.S.) and others. These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth Hydraulic Power Unit Market.
Let's Look at the Top 5 Companies That are Taking the Hydraulic Power Unit Market by Storm
The Hydraulic Power Unit Market is expected to grow from USD 6.9 billion in 2021 to USD 9.2 billion in 2028 due to the quick industrialization of many emerging economies. The Hydraulic Power Unit Market is anticipated to experience significant growth due to the increased demand for this machinery due to quick industrialization.
- Brevini Fluid Power S.P.A. (Italy)
Brevini Fluid Power was founded in 2003 due to the merger of several businesses operating in the hydraulic industry for more than 40 years. With the addition of Aron and Brevini Hydraulics power units, the company expanded over the ensuing decades.
- Bosch Rexroth AG(Germany)
The engineering company Bosch Rexroth AG is situated in Germany's Lohr am Main. The Automation Technology Business Unit of Robert Bosch GmbH and Mannesmann Rexroth AG merged on May 1, 2001, becoming a fully owned subsidiary of Robert Bosch GmbH that produces Hydraulic Power Units.
- Parker Hannifin Corporation (US)
A Fortune 250 company that leads the world in motion and control technologies is Parker Hannifin. The company has spent the past 100 years ensuring its clients' success in various diversified industrial and aerospace markets. The most difficult engineering problems are overcome thanks to Parker's engineering know-how and wide range of core technologies, including electromechanical, Hydraulic Power Units, and pneumatic with a full complement of fluid handling.
- Hydac International GmbH(Germany)
HYDAC is a family-run business established in 1963 in Saarland as "Gesellschaft für Hydraulikzubehör" (Company for Hydraulics Accessories). Rely on HYDAC's knowledge of fluid engineering, Hydraulic Power Units, and systems. It is dedicated to offering comprehensive solutions that cut across industrial sectors, are environmentally friendly, and are client-focused.
- Eaton Corporation(Ireland)
Eaton is a leader in intelligent power management, committed to enhancing people's quality of life and safeguarding the environment for all. It is driven by its dedication to conducting business ethically, running its operations sustainably, and offering Hydraulic Power Units to customers to assist in managing power both now and in the future.
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