Fluid Power Equipment Market Size, Share, Growth Analysis, By Type (Hydraulic, Pneumatic), By Component (Pumps, Motors), By Application, By Region - Industry Forecast 2024-2031

Global Fluid Power Equipment Market size was valued at USD 48.54 billion in 2022 and is poised to grow from USD 51.65 billion in 2023 to USD 84.83 billion by 2031, growing at a CAGR of 6.4% during the forecast period (2024-2031).

The fluid power equipment market is experiencing robust growth, driven by a variety of factors. This equipment, which utilizes hydraulic and pneumatic systems to transmit power via fluids, offers several advantages over traditional mechanical and electrical systems. The rise in demand for user-friendly fluid power products, combined with global motor efficiency standards and increased factory automation, contributes significantly to market expansion. Furthermore, the growing vehicle production, heightened urbanization, and proliferation of multinational corporations positively influence the industrial landscape. Key end-use sectors such as automotive, oil & gas, medical, and agriculture are also expanding, with enhanced local supply chains and outlets further propelling the market forward, ultimately solidifying fluid power's pivotal role in modern industry.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Fluid Power Equipment market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Fluid Power Equipment Market Segmental Analysis

Global Fluid Power Equipment Market is segmented by type, component, application and region. Based on type, the market is segmented into hydraulic and pneumatic. Based on component, the market is segmented into pumps, motors, valves, cylinder, steel tube and compression fitting and accumulators and accessories. Based on application, the market is segmented into construction, automotive, oil & gas, food processing, packaging, semiconductor and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Fluid Power Equipment Market

The Global Fluid Power Equipment market is significantly driven by the heightened demand from the food and beverage sectors, which is propelling growth in this industry. This rising interest is fueled by the need for efficient and reliable fluid power solutions to enhance production and processing capabilities. Furthermore, the increasing emphasis on developing water and wastewater infrastructure, especially in emerging economies, also contributes positively to the market dynamics. As these sectors continue to expand, the need for advanced fluid power equipment to support their operational efficiency is expected to further drive market growth in the coming years.

Restraints in the Global Fluid Power Equipment Market

The Global Fluid Power Equipment market faces several restraints that could hinder its growth. High product prices pose a significant challenge, as they may deter potential buyers. Additionally, logistical issues and trade barriers encountered between different regions are expected to complicate market dynamics, further stalling expansion. Furthermore, the competitive landscape is intensified by the presence of local manufacturers who offer similar products at lower prices, making it difficult for global companies to maintain their market share. These factors combined may create a challenging environment for growth in the fluid power equipment sector during the forecast period.

Market Trends of the Global Fluid Power Equipment Market

The Global Fluid Power Equipment market is experiencing a notable upward trend, driven by a growing inclination towards fluid power solutions as an efficient alternative to traditional electrical and mechanical systems. Applications requiring smooth linear motion-particularly utilizing hydraulic or pneumatic cylinders-are gaining traction across industries due to their superior power density, reliability, and versatility. The shift is partly propelled by advancements in technology that enhance the performance and reduce the downtime of fluid power systems. As industrial automation escalates and efficiency demands rise, the market is poised for substantial growth, attracting investments and fostering innovation in fluid power technologies.