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NEW YORK, June 1, 2022 /PRNewswire/ — The hydraulic equipment market will be driven by factors such as the growth of the construction sector. Developed countries such as the US are planning to make significant investments in infrastructural development. In emerging economies such as Indiathe possibility of 100% foreign direct investments (FDI) in residential projects is estimated to increase the demand for hydraulic construction equipment. The demand for construction machinery is rising due to an increase in investments in infrastructure projects worldwide. In addition, various governments are investing significantly in the development of sports infrastructure and facilities.
The hydraulic equipment market size is expected to grow by USD 15.50 billion from 2020 to 2025. Moreover, the growth momentum of the market will accelerate at a CAGR of 4.71% during the forecast period. This report segments the market by component (pump and motor, valve, cylinder, accumulator and filter, and others), application (mobile and industrial), and geography (APAC, North America, EuropeMEA, and South America).
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Hydraulic Equipment Market: Trends
The advent of integrated Industry 4.0 with IoT is one of the trends in the market. The global economy is witnessing the adoption of industrial automation across end-user industries, which is called the Industry 4.0 revolution. Integrated hydraulic equipment that is integrated with a network provides an opportunity to improve operations and reduces energy costs. The data collected from sensors are stored in the cloud and can be accessed instantly for further analysis. Therefore, material handling processes are increasingly being automated.
The report also offers information on the upcoming trends and challenges that will influence market growth. Download Our Sample Report
Hydraulic Equipment Market: Segmentation by Component
Based on the segmentation by component, the pump and motor segment will have significant market share growth during the forecast period. Hydraulic pumps and motors are integral components of construction, agriculture, oil and gas, and material handling machinery. The increasing demand for such equipment is driving the demand for this segment.
Hydraulic Equipment Market: Segmentation by Geography
APAC will have the highest market share growth during the forecast period. The increase in industrialization and …
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