Hydraulic Tools Market Share, Growth Opportunities and Business Trends by 2030

Rapid urbanization, coupled with increase in infrastructure spending are driving factors for hydraulic tools market.

PORTLAND, OR, UNITED STATES, May 19, 2023 /EINPresswire.com/ — The hydraulic tools market size was valued at $1.6 billion in 2020, and is estimated to reach $2.7 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.
In 2020, North America dominated the hydraulic tools market, in terms of revenue, accounting for around 38.5% share of the global market, followed by Europe. The economy of Europe has grown over the past couple of years, which, in turn, boosts the growth of the construction industry. This, in turn, is expected to fuel the hydraulic tools market forecast.

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In terms of end user, the industrial manufacturing segment secured the highest share in the hydraulic tools market in 2020, and is expected to grow at a CAGR of 6.5% during the forecast period, owing to increase in the manufacturing sector around the globe. These factors are expected to provide lucrative growth opportunities for hydraulic tools market players in developing economies.

The hydraulic tools market is projected to witness significant growth in the coming years, owing to increase in adoption of material handling equipment in countries such as China, Brazil, India, and other South Asian countries. Nations such as the U.S., Germany, and Japan, have started using hydraulic tools, owing to surge in industrialization.

By type, the hydraulic cylinder & jack segment has accounted for the largest share in the global hydraulic tools market share in 2020 and the tension & torque tools segment is expected to witness significant growth during the forecast period, owing to technological innovations and deployment in the oil, gas, and petrochemical industry.

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Prominent Players:
Prominent players, such as Actuant Corporation, Atlas Copco AB, SPX Flow, Kudos Mechanical Co., Ltd., IDEX Corporation, Hi-Force, and Cembre S.P.A., Emerson Electric Co., Robert Bosch GmbH, and Stanley Black & Decker, Inc., have adopted new product launch & acquisition as their key strategy to expand their market foothold.

Regional Analysis:
Regionally, the market analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America region generated the highest revenue in 2020.

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David Correa
Allied Analytics LLP
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