The hydraulic tools market is segmented on the basis of type, end user, distribution channel, and region. By type, the market is divided into hydraulic & jack, hydraulic rescue tools, tension & torque tools and others. The hydraulic cylinder & jack segment is anticipated to dominate the global hydraulic tools market throughout the study period. By end user, it is categorized into industrial manufacturing, oil & gas and petrochemical, utility, railway and others.
The industrial manufacturing segment dominated the market in 2020. On the basis of distribution channel, it is divided into online and offline. The offline segment is projected to grow at the highest rate in the future. COVID-19 has already affected the sales of global hydraulic tools market in 2020, and is expected to hamper growth of the global hydraulic tools market in the future. Major demand for hydraulic tools was badly affected due to the spread of COVID-19 virus. Further, the disruption of supply chains hinders the hydraulic tools
market.
Major players such as Actuant Corporation, HI-Force, Atlas Copco AB, Emerson Electric Co. and others are adopting acquisition & product launch as the key developmental strategy to improve the product portfolio. For instance, in October 2020, The Actuant Corporation launched new Enerpac MIIT series mechanical isolation & test tools. The new Enerpac MITT product line provides a safe and efficient method for inline piping isolations and localized pressure testing of new welds, which aims in improving product portfolio of the company.
However, high cost and regular maintenance are anticipated to hamper growth of the market. Conversely, increase in construction and mining activity is anticipated to provide lucrative opportunities for growth of the global hydraulic tools market. The hydraulic tools market is analyzed across four regions, which include North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is expected to dominate the market throughout the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hydraulic tools market analysis from 2020 to 2030 to identify the prevailing market growth and opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hydraulic tools market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global hydraulic tools market trends.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hydraulic tools market forecast trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Hydraulic Rescue Tool
- Tension and Torque Tools
- Others
- Hydraulic Cylinder and Jack
By Distribution Channels
- Offline
- Online
BY END USER
- Industrial Manufacturing
- Oil, Gas, and Petrochemical
- Electric Utility
- Railway
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Actuant Corporation
- Atlas Copco
- SPX FLOW, Inc.
- Kudos Mechanical Co., Ltd
- IDEX Corporation
- Emerson Electric Co.
- robert bosch gmbh
- Stanley Black & Decker, Inc.
- Cember S.P.A.
- hi-force hydraulic tools
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
Executive Summary
According to this report titled, 'Hydraulic Tools Market,' 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.
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.
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.
COVID-19 has already affected the sales of hydraulic tools market in 2020, and is expected to hamper growth of the hydraulic tools market. Major demand for hydraulic tools was badly affected, owing to the spread of COVID-19 virus. Further, disruption of supply chains hinders the hydraulic tools market growth. Several manufacturers in the hydraulic tools market stopped their business activities, owing to lockdown implemented in developed and developing countries in 2020 and ban on construction activities. This halt in production activities impacted the revenue of hydraulic tools manufacturing companies. For instance, net sales of Robert Bosch GmbH dropped by 3.6% from January 2020 to December 2020. In addition, lack of man power and raw materials affected the supply chain of the global hydraulic tools market analysis. However, the market is projected to cover from the 1st quarter of 2021, owing to reduced restrictions and reopening of the global hydraulic tools industry. Moreover, in 2021 with availability of vaccine against COVID-19, the hydraulic tools market trends is expected to gradually witness growth.
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.
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.
Companies Mentioned
- Actuant Corporation
- Atlas Copco
- SPX FLOW, Inc.
- Kudos Mechanical Co., Ltd
- IDEX Corporation
- Emerson Electric Co.
- robert bosch gmbh
- Stanley Black & Decker, Inc.
- Cember S.P.A.
- hi-force hydraulic tools
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 235 |
Published | April 2022 |
Forecast Period | 2020 - 2030 |
Estimated Market Value ( USD | $ 1611.33 million |
Forecasted Market Value ( USD | $ 2726.4 million |
Regions Covered | Global |
No. of Companies Mentioned | 10 |