Hydraulic Equipment Market is predicted to reach USD 67.06 Billion by 2030

According to the study by Next Move Strategy Consulting, the global Hydraulic Equipment Market size is predicted to reach USD 67.06 billion with a CAGR of 5.4% by 2030.

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The surge in construction industry increases the demand for energy required to power heavy equipment used for construction purpose, thereby propelling the market growth.

Furthermore, the hydraulic equipment market is growing due to the expansion of the automotive industry that drives the need for automated tool for manufacturing, assembly, and maintenance of vehicles, thereby accelerating the market demand.

Asia-Pacific dominates the hydraulic equipment market share and is projected to maintain its dominance throughout the forecast period.

The hydraulic equipment industry comprising of various market players such as Bosch Rexroth AG, Eaton Corporation plc, Enerpac, Kawasaki Heavy Industries Ltd., Grundfos, Caterpillar Inc., Wipro Infrastructure Engineering, Bucher Industries AG, Bolting Systems Inc., Danfoss, and others.