Hydraulic Tools Market Report 2024 (Global Edition)

Global Hydraulic Tools Market Report 2024 Market Size Split by Type (Hydraulic Cylinder and Jack, Hydraulic Rescue Tool, Tension and Torque Tools, Others), by End User (Industrial Manufacturing, Oil, ...

Hydraulic Tools Market Report Description

We have various report editions of Hydraulic Tools Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Hydraulic Tools Market

The major players adopt new tactics quickly to gain a competitive advantage and take a substantial portion of the market. To serve a sizable customer base and obtain a competitive advantage, the key players in the hydraulic tools industry strongly emphasize extending their creative products.

Hydraulic Tools Industry News

• May 2022, Komatsu India, Scania India, and Larsen & Toubro showcased four of the newest hydraulic excavators that are ready for B20 biodiesel and are environmentally friendly. At Excon 2022, Komatsu displayed the PC205-10MO, PC500LC-10R, PC210LC-10MO Super Long Front, and GD535-6 Motor Grader. Komatsu, L&T, and Scania focus on implementing sustainable technologies. The four devices are designed to run biodiesel (B20). When the excavators use alternative energy and emit less greenhouse gases, they generate the same amount of power and productivity. The concept was primarily created to meet the needs and applications of India.

(Source: www.livemint.com/companies/news/lt-komatsu-and-scania-launch-four-eco-friendly-hydraulic-excavators-11653302142730.html)

Top Companies Market Share in Hydraulic Tools Industry: (In no particular order of Rank)

• IDEX Corporation
• Cember S.P.A.
• Stanley Black & Decker Inc.
• Kudos Mechanical Co. Ltd
• Atlas Copco
• Actuant Corporation
• robert bosch gmbh
• SPX FLOW Inc.
• Emerson Electric Co.
• hi-force hydraulic tools
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the North American Hydraulic Tools Market share was 40% of the total market

According to Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue. The region is experiencing increased demand in the construction, manufacturing, and oil & gas sectors. Infrastructure growth, technological developments, and a focus on operational efficiency contribute to adopting hydraulic tools. The strong industrial landscape in North America contributes considerably to the overall growth of the hydraulic tools market.

Europe is the fastest-growing category as it is a key contributor to the developing hydraulic tools market, which is seeing increased demand in the automotive, aerospace, and construction industries. The region's concentration on modern manufacturing techniques, rigorous quality standards, and the requirement for precision in industrial operations all contribute to increased demand for hydraulic tools. Europe's commitment to technical innovation and environmental practices contributes to the regional hydraulic tools market's growth.

The current report Scope analyzes Hydraulic Tools Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Hydraulic Tools Market

According to Cognitive Market Research, the global Hydraulic Tools market size was estimated at USD 1962.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 784.88 million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2023 to 2030 North America is a driving force in the hydraulic tools industry, with strong growth across a variety of industries. The region's perspective depicts a dynamic industrial landscape centered on modern technology and operational efficiency. The construction sector, in particular, stands out as a key driver of this growth, relying on hydraulic instruments for tasks such as lifting, cutting, and excavation. Infrastructure development projects and the necessity for precision in construction applications increase demand even further. To summarize, North America's significant contribution to the hydraulic tools market can be attributed to a convergence of factors, including technological advancements, infrastructure investments, and the ongoing pursuit of innovative solutions, establishing the region as a key player in the evolving landscape of hydraulic tool applications.

• According to Cognitive Market Research, the US had a major share in the Hydraulic Tools market with a market size of USD 619.27 million in 2023 and is projected to grow at a CAGR of 3.8% during the forecast period. This is majorly due to the growing demand for infrastructure projects. 
• The Canada Hydraulic Tools market had a market share of USD 94.19 million in 2023 and is projected to grow at a CAGR of 4.8% during the forecast period. This is due to the increased demand for fast industrialization, and the rise of the automotive sector. 
• The Mexico Hydraulic Tools market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 71.42 million in 2023.

Europe Hydraulic Tools Market

According to Cognitive Market Research, with a market value of USD 1962.2 million in 2023 and projected to expand at a compound annual growth rate (CAGR) of 5.80% from 2023 to 2030, Europe accounted for a share of over 30% of the global market size of USD 588.66 million Europe is a key player in the hydraulic tools industry, with a complex industrial landscape and a focus on precision engineering. The review emphasizes Europe's dedication to sophisticated manufacturing techniques, quality standards, and sustainable practices, which drives demand for hydraulic tools in various industries. Within this setting, the aerospace industry emerges as a key growth driver, relying on hydraulic equipment for operations like component assembly and aircraft maintenance. To summarize, Europe's dominance in the hydraulic tools market originates from its technological superiority and strategic focus on businesses that require accuracy and dependability. The region's commitment to innovation makes it a vital actor in determining the future of hydraulic tools in the broader European industrial environment.

• According to Cognitive Market Research, the Germany Hydraulic Tools market size was valued at USD 116.55 million in 2023 and is projected to grow at a CAGR of 4.5% during the forecast period. This is majorly due to the country's emphasis on precise engineering. 
• The United Kingdom Hydraulic Tools market had a market share of USD 98.89 million in 2023 and is projected to grow at a CAGR of 5.1% during the forecast period. This is due to the increased modern manufacturing techniques, and status as an industrial powerhouse. 
• The France Hydraulic Tools market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD 54.16 million in 2023.
• The Italy Hydraulic Tools market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD 50.62 million in 2023.
• The Russia Hydraulic Tools market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 91.24 million in 2023.
• The Spain Hydraulic Tools market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 48.27 million in 2023.
• The Portugal Hydraulic Tools market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 12.36 million in 2023.
• The Luxembourg Hydraulic Tools market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 18.25 million in 2023.
• The Greece Hydraulic Tools market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 7.06 million in 2023.
• The Rest of Europe's Hydraulic Tools market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD 91.24 million in 2023.

Asia Pacific Hydraulic Tools Market

According to Cognitive Market Research, the global Hydraulic Tools market size was estimated at USD 1962.2 Million, out of which Asia Pacific held the market of more than 23% of the global revenue with a market size of USD 451.31 million in 2023 and will grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030 Asia Pacific is a booming region in the hydraulic tools industry, with a dynamic industrial landscape and strong economic growth. The overview emphasizes the region's strong manufacturing sector, increased infrastructural development, and expanding demand for efficient tools across various industries. Notably, the construction industry is a key driver of the hydraulic tools market's growth, using these tools for operations, including excavation, demolition, and material handling. Massive infrastructure developments and urbanization activities contribute greatly to the rising demand. To summarize, Asia Pacific's pivotal role in the hydraulic tools market can be attributed to a convergence of expanding industries, infrastructure needs, and technological advancements, establishing the region as a key driver in shaping the trajectory of hydraulic tool applications across diverse sectors.

• According to Cognitive Market Research, the China Hydraulic Tools market size was valued at USD 203.09 million in 2023 and is projected to grow at a CAGR of 7.3% during the forecast period. This is majorly due to the growing demand for building and manufacturing operations. 
• The India Hydraulic Tools market had a market share of USD 54.16 million in 2023 and is projected to grow at a CAGR of 9.6% during the forecast period. This is due to the infrastructure initiatives, which creates a demand for efficient tools in these industries. 
• The Japan Hydraulic Tools market is projected to witness growth at a CAGR of 6.3% during the forecast period with a market size of USD 62.28 million in 2023.
• The South Korea Hydraulic Tools market is projected to witness growth at a CAGR of 6.9% during the forecast period with a market size of USD 45.13 million in 2023.
• The Australia Hydraulic Tools market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD 23.47 million in 2023.
• The South East Asia Hydraulic Tools market is projected to witness growth at a CAGR of 8.8% during the forecast period with a market size of USD 31.14 million in 2023.
• The Rest of Asia Pacific Hydraulic Tools market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 32.04 million in 2023.

South America Hydraulic Tools Market

According to Cognitive Market Research, the global Hydraulic Tools market size was estimated at USD 1962.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 98.11 million in 2023 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030 The review emphasizes the region's economic development and industrial expansion, which are driving up demand for efficient and dependable hydraulic equipment. The mining sector, in particular, stands out as a prominent growth driver, with hydraulic equipment being used for excavation, drilling, and material handling operations. Latin America's abundance of natural resources has fueled mining activity, resulting in the use of modern techniques for increased production. To summarize, Latin America's presence in the hydraulic tools market is defined by its economic dynamism, rising industrial sectors, and strategic focus on sectors such as mining, establishing the area as a vital contributor to the evolving landscape of hydraulic tool applications.

• According to Cognitive Market Research, the Brazil Hydraulic Tools market size was valued at USD 41.99 million in 2023 and is projected to grow at a CAGR of 5.8% during the forecast period. This is majorly due to the growing demand for the rising oil and gas industry. 
• The Argentina Hydraulic Tools market had a market share of USD 16.48 million in 2023 and is projected to grow at a CAGR of 6.1% during the forecast period. This is due to the increased demand for infrastructure projects, and the growing manufacturing sector. 
• The Colombia Hydraulic Tools market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD 8.73 million in 2023.
• The Peru Hydraulic Tools market is projected to witness growth at a CAGR of 5.4% during the forecast period with a market size of USD 8.05 million in 2023.
• The Chile Hydraulic Tools market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 7.06 million in 2023.
• The Rest of the Latin America Hydraulic Tools market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 15.80 million in 2023.

Middle East and Africa Hydraulic Tools Market

According to Cognitive Market Research, the global Hydraulic Tools market size was estimated at USD 1962.2 Million, out of which Middle East and Africa held the major market of more than 2% of the global revenue with market size of USD 39.24 million in 2023 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030 The overview focuses on MEA's economic diversification initiatives, with a particular emphasis on industrial and construction activities, which contribute to rising demand for efficient hydraulic equipment. The oil and gas industry stands out as a key driver of market expansion, with hydraulic tools used for exploration, maintenance, and pipeline operations. The abundance of natural resources in the MEA necessitates using modern equipment to improve operational efficiency in oil extraction and processing. To summarize, MEA's presence in the hydraulic tools market is formed by strategic economic initiatives, increasing industrial sectors, and the oil and gas industry's critical role, establishing the region as a key contributor to the developing panorama of hydraulic tool applications.

• According to Cognitive Market Research, the GCC Countries Hydraulic Tools market size was valued at USD 16.80 million in 2023 and is projected to grow at a CAGR of 6.3% during the forecast period. This is majorly due to the growing demand for the country's agricultural and industry operations. 
• The South Africa Hydraulic Tools market had a market share of USD 6.20 million in 2023 and is projected to grow at a CAGR of 6.5% during the forecast period. This is fueled by large building projects, oil and gas activities, and infrastructure development, which creates a demand for specialized tools in these industries. 
• The Egypt Hydraulic Tools market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 4.12 million in 2023.
• The Turkey Hydraulic Tools market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD 3.37 million in 2023.
• The Nigeria Hydraulic Tools market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 4.12 million in 2023.
• The Rest of MEA Hydraulic Tools market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 4.63 million in 2023.

Hydraulic Tools Market Analysis

Hydraulic Tools Type Segment Analysis

According to Cognitive Market Research, Hydraulic Cylinder and Jack held the major market share over the forecast period. The hydraulic cylinder and jack segment is an important driver of growth in the hydraulic tools market. Demand has increased as lifting, pushing, and pulling operations become more common in the construction, manufacturing, and automotive industries. Hydraulic cylinders and jacks are widely used for their efficiency, versatility, and durability, driving growth in the hydraulic tools industry.

Tension and Torque Tools are the fastest-growing category over the forecast period. These tools are widely used in industries such as manufacturing, energy, and construction, and they play an important role in assuring precision and reliability in fastening applications. The growing requirement for precise and controlled tightening of bolts and nuts has resulted in greater usage of tension and torque tools, encouraging market growth.

• Hydraulic Cylinder and Jack
• Hydraulic Rescue Tool
• Tension and Torque Tools
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Hydraulic Tools Industry. Request a Free Sample PDF!

Hydraulic Tools End User Segment Analysis

According to Cognitive Market Research, Oil, Gas, and Petrochemicals hold a prominent market share. These industries extensively use hydraulic tools for drilling, maintenance, and pipeline building. The demand for rugged, high-performance hydraulic equipment in severe environments drives market expansion, as these industries prioritize efficiency and dependability in their operations, contributing to the overall growth of the hydraulic tools market.

Industrial Manufacturing is the fastest-growing category over the forecast period. Hydraulic tools are used in various applications, including metal forming, machining, and assembly. The desire for precision, efficiency, and automation in manufacturing operations drives the use of modern hydraulic tools, helping to expand the market within the industrial manufacturing segment.

• Industrial Manufacturing
• Oil
• Gas and Petrochemical
• Electric Utility
• Railway
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Hydraulic Tools Distribution Channel Segment Analysis

According to Cognitive Market Research, Offline holds a prominent market share. The hydraulic tools market is experiencing offline expansion as enterprises recognize the advantages of offline solutions for improved operational efficiency. Offline hydraulic tools, such as pumps and cylinders, are versatile and reliable in various applications. Their capacity to run independently of external power sources contributes to their growing appeal, boosting market expansion across various sectors.

Online is the fastest-growing category over the forecast period. The online expansion of the hydraulic tools industry is noteworthy as sectors increasingly use digital platforms for procurement. Online channels provide quick access to a diverse choice of hydraulic tools, easing the purchasing procedure for enterprises. Convenience, increased product availability, and effective delivery methods contribute to the growing demand for online purchases, which drives market expansion in the hydraulic tools industry.

• Online
• Offline

Author's Detail

David Fuller

Senior Analyst at Cognitive Market Research

LinkedIn

Profile

I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.

Author's Conclusion