Blake has worked as a Market Analyst at Interact Analysis since 2017. Covering the markets for low voltage AC motor drives, predictive maintenance, and mobile hydraulics, Blake has developed expertise in automation systems, industrial digitalization, and off highway-electrification.
The winds are shifting in the mobile hydraulics market. An increased focus on electrification, changing geographic landscape, and a shrinking captive market are opening new opportunities for vendors. The following is a snapshot of the current market landscape and what we expect to see over the next 5 years. This glimpse of the market is a tiny portion of our in-depth analysis of the global market for mobile hydraulics. The findings are a result of numerous interviews with industry insiders during a six month primary research cycle.
The Infographic can be downloaded here
- Interact Analysis predicts the global mobile hydraulic market, which was worth 14.7bn in 2017, to reach 17.8bn by 2023.
- For the first time in history, the APAC region is the largest market for mobile hydraulics, jumping from 3rd to 1st in recent years thanks to increased infrastructure investment from the Chinese government, increased mechanization in the region, and a shrinking captive market.
- Growth in the mobile hydraulics market, while remaining positive at CAGR 2.7% over our forecast period, is expected to slow as electrification begins disrupting products in applications with low power density requirements.
- The APAC region is expected to grow at a rate of CAGR 6.8% through 2023 with the Americas region slightly behind at CAGR 4.2%. Strong growth from agriculture and construction is driving this growth in both regions.
- The EMEA market for mobile hydraulics is expected to contract at a CAGR of -1.6% through 2023 as the regions agricultural vehicle production moves from being stagnant to a state of slight decline.
- Of the four products covered in this report, hydraulic pumps made up the most revenue at an estimated 4.4bn in 2017.
- Bosch Rexroth, Danfoss, and Eaton are the number 1, 2, and 3 vendors respectively with a combined 29.7% share of the market.
The above analysis is taken from a new Interact Analysis report – Mobile Hydraulic Market Report – 2019. The research captures and discusses the development of the mobile hydraulic market by vehicle type, product, industry, and region. Interviews with industry insiders helped piece together the size and growth profiles for hydraulic pumps, motors, valves, and cylinders for each of the major vehicle types where these products are found. In the report, we quantify the impact that electrification is having and predict how the trend will affect the market in the future. Additionally, shifting vehicle production, changes in geographic makeup, IoT trends, and trends specific to mobile hydraulic sectors are explored in detail.