According to the latest report by IMARC Group, “Global Hydraulic Tools Market Growth, Share, Size, Industry Trends, Opportunity and Forecast 2022-2027“, the global hydraulic tools market reached a value of US$ 1.47 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1.95 Billion by 2027, exhibiting a CAGR of 4.60% during 2022-2027.
Hydraulic tools refer to high-powered equipment that are widely adopted to operate hydraulic machinery with pressurized fluid. These tools have gained immense traction in diverse applications, such as tunneling and mining, constructing roads and highways, securing street signs to metal posts, creating barriers and fences, powering construction cranes to move large and heavy items, etc.
Hydraulic Tools Market Trends and Drivers:
The expanding construction sector, coupled with the growing number of infrastructural development projects, is primarily driving the global hydraulic tools market. Additionally, the increasing adoption of material handling equipment across diverse industries, such as oil and gas, marine, automotive, railway, etc., is further augmenting the demand for hydraulic tools.
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Apart from this, the rising integration of electrical components with hydraulic cylinders for high accuracy, enhanced functionality, and improvements in controlled performance is also acting as a significant growth-inducing factor. Moreover, the escalating investments by leading market players in R&D activities for the upgradation of hydraulic equipment to provide better solutions for the users, will continue to drive the market growth in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Hydraulic Tools Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Atlas Copco North America LLC, BVA Hydraulics, Cembre S.p.A. (Lysne S.P.A.), Emerson Electric Co., Enerpac Tool Group Corp., Hangzhou WREN Hydraulic Equipment Manufacture Co Ltd., Hi-Force Limited, HTL Group Ltd., Kudos Mechanical Co. Ltd., LUKAS Hydraulik GmbH (IDEX Corporation), SPX Flow Inc., Super Unique Enterprise Co Ltd. and Tai Cheng Hydraulic Industry Co Ltd.
The report has segmented the market on the basis of region, type, distribution channel and end user.
Breakup by Type:
- Hydraulic Cylinder and Jack
- Hydraulic Rescue Tools
- Tension and Torque Tools
Breakup by Distribution Channel:
The Breakup by End User:
- Industrial Manufacturing
- Oil and Gas and Petrochemical
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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