Food and Beverage Industry Leads Adoption of Fluid Power Equipment for Precise Control and Efficiency in Ingredient Handling and Processing

News provided by

Nov 06, 2023, 19:15 ET

DUBLIN, Nov. 6, 2023 /PRNewswire/ -- The "Fluid Power Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global fluid power equipment market achieved a size of US$ 45.5 billion in 2022 and is projected to grow to US$ 69.9 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 7.26% during the period from 2023 to 2028, according to a recent market report.

Fluid power equipment harnesses the power of liquids or gases to perform various tasks and move heavy loads in industries such as packaging, mining, marine, medical, construction, aerospace, automation, robotics, and entertainment. It plays a crucial role in controlling direction, speed, force, and torque in industrial applications. Notably, the food and beverage (F&B) industry is increasingly adopting fluid power equipment for ingredient handling, processing, and packaging.

Fluid Power Equipment Market Trends:

Several key factors are driving the growth of the fluid power equipment market, including its application in wastewater treatment, the pursuit of energy-efficient solutions to reduce greenhouse gas emissions, and the global demand for energy imports. Additionally, ongoing technological advancements and innovations in fluid power equipment manufacturing are contributing to market expansion.

The adoption of smart valves for precise control and safety in the context of industry 4.0 is another significant trend. The market is also witnessing the introduction of user-friendly fluid products, creating opportunities for end-users and investors. Automation in factories to enhance precision, consistency, and operational efficiency is further fueling the demand for fluid power equipment worldwide.

Major market players are investing heavily in research and development (R&D) activities to boost their sales and profitability. Other growth drivers include increased vehicle production, rapid urbanization, and the expansion of multinational retail outlets.

Key Market Segmentation:

The report offers insights into crucial market segments based on product, component, end-user, and region.

Breakup by Product:

Hydraulics
Pneumatics
Others

Breakup by Component:

Pumps
Motors
Valves
Cylinder
Accumulators and Filters
Others

Breakup by End User:

Agricultural
Aerospace
Automotive
Construction
Others

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

Competitive Landscape:

The competitive landscape of the fluid power equipment market includes key players such as Bosch Rexroth AG (Robert Bosch GmbH), Bucher Industries AG, Daikin Industries Ltd., Eaton Corporation PLC, Fluid Power Equipment Inc., HAWE Hydraulik SE, HYDAC International GmbH, Hydraforce Inc., Kawasaki Heavy Industries Ltd., Nachi-Fujikoshi Corp., Parker-Hannifin Corporation, and Sparrows Offshore Group Limited.

Key Questions Answered in This Report:

What is the current size of the global fluid power equipment market?
What is the projected growth rate of the global fluid power equipment market from 2023 to 2028?
What are the main factors driving the global fluid power equipment market?
How has COVID-19 impacted the global fluid power equipment market?
What are the product-based and end-user-based segments of the global fluid power equipment market?
Which regions are the key markets for fluid power equipment?
Who are the major players/companies operating in the global fluid power equipment market?

For more information about this report visit https://www.researchandmarkets.com/r/vtvb6s

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo - https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets