The "Hydraulic Tools Market by Type, Distribution Channels, End User: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The hydraulic tools market size was $1,571.1 million in 2020, and is expected to reach $2,726.4 million by 2030, registering a CAGR of 5.4% from 2021 to 2030. Hydraulic tools are mechanical equipment that offer movement for lifting heavy loads or handling bulky materials in industrial and mobile applications. These tools are used in construction, load lifting, and equipment handling machinery. Oil is used to transmit pressure in hydraulic tools at a higher power density in industrial applications, thus, can handle extreme loads.
Hydraulic tools are reliable in hostile conditions and are replacing pneumatic tools. Use of hydraulic tools has gained prominence among cranes, forges, packing machines, and marine equipment, owing to their efficiency and cost-effectiveness. Growth in the construction equipment market is anticipated to provide potential opportunities for key players operating in the market. However, hydraulic cylinders are expensive and its maintenance & operation costs are very high. This factor restricts growth of the global hydraulic cylinders market. Rise in demand for material handling equipment is expected to offer growth opportunities for hydraulic tools industries in the future.
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.
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 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 Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HYDRAULIC TOOLS MARKET, BY TYPE
CHAPTER 5: HYDRAULIC TOOLS MARKET, BY DISTRIBUTION CHANNELS
CHAPTER 6: HYDRAULIC TOOLS MARKET, BY END USER
CHAPTER 7: HYDRAULIC TOOLS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
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
For more information about this report visit https://www.researchandmarkets.com/r/ll64ti
View source version on businesswire.com: https://www.businesswire.com/news/home/20220817005565/en/
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