Fluid power equipment systems function by using a pressurized fluid or gas on a piston by using methods of mechanical, electrical, and fluid power. It can transmit equivalent power to all systems and provide sufficient control on direction, speed, force, and torque. The global fluid power equipment market report by Market Research Future (MRFR) provides a comprehensive overview of the industry with projections for the period of 2019 to 2024 (forecast period). The outbreak of the COVID-19 virus and its implications on the market are written in detail in the report.
Market Scope
The global fluid power equipment market is projected to reach USD 28.6 billion by 2024. It is expected to garner revenues at a 6.05 % CAGR over the forecast period.
Major drivers include the need for wastewater and water treatment infrastructure and demand from the food & beverage industry. Recently, a sewage treatment plant was set up in India in collaboration with Japan International Cooperation Agency which relies on fluid power equipment. The use of exoskeletons suits for working in hazardous occupations and commercialization of shale gas can fuel market demand exponentially.
But high costs of fluid power equipment can restrain market growth.
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Segmentation
The global fluid power equipment market has been segmented by type, component, and application.
Regional Analysis
On the basis of region, the global fluid power equipment market is segmented into Asia Pacific (APAC), North America, Europe, the Middle East & Africa (MEA), and South America.
APAC held the largest share in the global fluid power equipment market due to growing investments in construction activities in emerging nations of India and China. China is expected to account for the largest share of the regional market, while India is expected to be the fastest growing country in the region. For instance, according to the India’s National Mining Association, in 2017, the processed minerals used in industries of manufacturing, construction, and agriculture were worth USD 630 billion.
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Competitive Outlook
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
Continued…
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