Hydraulic Motors Market - Growth, Trends, and Forecast (2020 - 2025)

The global Hydraulic Motors market is expected to witness a CAGR of over 4.5%, during the forecast period, 2020 - 2025.

Some of the major factors driving the growth of the market studied include the growing construction industry, agricultural sector, and mining industry, primarily owing to an increase in the consumption of base and precious metals. Additionally, consistent technological advancements are expected to offer growth opportunities for manufacturers. However, a shift in the focus toward electrification and adoption of electric motors in applications, such as oil and gas and few construction equipment is expected to hinder the market’s growth.

In 2019, by type, the piston motors segment accounted for the largest market share. By application type, the off-road applications segment accounted for the largest market share, and in off-road applications segment, the construction machinery sub-segment accounted for the largest market share. By region, in 2019, the Asia-Pacific region dominated the market, with a share of over 39%, followed by North America and Europe.

Some of the major players dominating the market are Eaton Corp., Parker Hannifin Corp., Danfoss, Bosch Rexforth AG, Kawasaki Precision Machinery Co., and Poclain Hydraulics among others. The top four major players are accounted for more than 60% of the global hydraulic motors market’s share in 2018.

Key Market Trends

Piston Motors is expected to Dominate the market and witness the Fastest Growth rate

Piston motors are hydraulic motors with high speed and displacement range that operate under maximum pressure of up to 450 bar. The hydraulic piston motors combine a very high displacement volume, at high operating pressure. These factors are driving the demand for piston motors, primarily for operations that require high power output. They are used to drive mobile and construction equipment, winches, ship-cranes, and all kinds of heavy-duty hydraulic equipment, for offshore and onshore operations.

The piston motors are of two types, namely, radial piston motor and axial piston motors.

• Radial piston motors have a cylinder barrel attached to a driven shaft. They are highly efficient. However, the initial cost are significantly high, owing to the high degree of precision required for manufacturing these motors.
• These motors generally have a long life, and provide high torque at relatively low shaft speeds and excellent low-speed operation, along with high efficiency.
• Additionally, they have limited high-speed capabilities. Radial piston motors’ displacement range is up to 1,000 in.3 /rev.
• They are primarily used in caterpillar drives of winches, cranes, ground drilling equipment, and excavators.
• Axial piston motors use reciprocating piston motion principle, to rotate the output shaft. However, its motion is axial. Their efficiency characteristics are similar to those of radial-piston motors and have a long operating life. Initially, these motors used to cost more than vane or gear motors of comparable horsepower.
• They have excellent high-speed capabilities. However, their low operating speed is limited.
• Axial piston motors’ displacement range is up to 65 in.3 /rev.
• These motors find applications in construction, mining, and agricultural equipment.

Asia-Pacific expected to be the Largest Market and witness the Fastest Growth rate

In the Asia-Pacific region, the market was dominated by China, followed by India and Japan.

In China, the market for excavators and other types of construction machinery is anticipated to strengthen in China over the forecast period. Government spending on municipal infrastructure projects is the key reason for the healthy sales of construction machinery in recent months. For instance, cities around the country are expanding subways and other urban transportation systems. Additionally, the demand for wheel loaders is also expected to increase in the country. The country represents a 43% share in the wheel loader machine. The factors that are fueling the demand for the wheel loader in the country are a sharp increase in infrastructure investment by the Chinese government and through the public-private partnership (PPP) model. As the demand for a wheel loader is increasing, it is also fueling the demand for hydraulic motors in the country.

India is still a developing economy, the construction sector is one of the booming industries in the country, and will continue to grow, due to increased demand from real estate and infrastructure projects. The country's real estate market is expected to reach a market size of USD 180 billion by 2020. Some of the key factors driving the real estate sector are real estate sector-regulatory reforms, steady demand generated due to rapid urbanization, rising household income, and rising number of nuclear families. Additionally, Indian roadways are the second-largest in the world. Owing to the increasing number of vehicles and traffic, the government is planning to further extend the roadways in the coming years.

Competitive Landscape

Four major players, namely, Eaton Corporation Inc., Parker Hannifin Corporation, Danfoss, and Bosch Rexroth AG, had dominated the market by capturing nearly more than 60% of the global hydraulic motors in 2019.

• These players successfully capitalized on the huge demand for reliable hydraulic systems from big players in the construction sector, such as CAT, Komatsu, Hitachi, etc., as well as Deere & Company, CNH Industrial NV, Kubota Corporation, etc., in the agricultural sector.

Companies, like Mitsubishi Heavy Industries,Ltd., Adan Limited, Jiangsu Hengyuan Hydraulic Co. Ltd, and other regional players have been considered in the other category. These players are trying to expand their presence beyond regional distribution and into the global hydraulic motors market, by working on specialty motors and high-performance hydraulics. These companies are also providing a customization service for their customers to cater to custom applications.

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