Future Market Insights predicts that it's set to achieve a value pool of US$ 43 billion by the end of 2023. But that's not all - the future looks even brighter with an expected global demand surge for Hydraulic Intensifiers, reaching an astounding US$ 60 billion by 2033. This remarkable growth is set to take place at a CAGR of 3.3%, indicating that the market is booming with no signs of slowing down any time soon.
Hydraulic intensifiers are widely used in various industries, including manufacturing, construction, and automotive, among others, owing to their ability to improve the efficiency and productivity of operations, according to Future Market Insights. This significant growth is attributed to several drivers, including:
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 43 billion |
| Projected Market Value in 2033 | US$ 60 billion |
| Growth Rate (2023 to 2033) | 3.3% CAGR |
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The machine manufacturing industry is the largest consumer of hydraulic intensifiers. The use of hydraulic intensifiers in manufacturing processes helps to improve efficiency, reduce energy consumption, and enhance productivity.
Construction and Agriculture will be prominent drivers for the market.
Demand for increase hydraulic pressure for hydraulic equipment from construction and offshore oil & gas industries will drive the market. Agriculture applications will provide further uplift to boost the market growth. Addionally automotive industry will also provide steady demand in future, they are used in automotive braking systems.
This equipment finds its application in vast range of end users, however high maintenance cost has been long lasting challenge faced by its End users. This systems are been extensively used in subsea & offshore application, but oil leakage in this critical application has been a challenge for its manufactures.
Hydraulic Intensifiers emerging application includes Special Vehicles and Process Industry, in which it is used for water and abrasive cutting, washing and spraying, power boosting for hydraulic equipment, hydroforming and pressure testing and others. All together this product will find its application wherever there’s need to increase hydraulic pressure.
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Construction sales around the globe have been impacted by COVID-19-induced slowdown. This has negatively impacted construction material handling equipment and parts sales. Hydraulic intensifiers find its application excavator & land movers and construction industry has prominent share of hydraulic intensifiers sales, therefore construction sector is anticipated to create lucrative opportunities for the market in the future.
This equipment is also used extensively in Agriculture industry for tractors and other agriculture machinery. Although covid-19 guidelines such as lockdown have meant restricted agriculture activities, sales are likely to improve over the course of the assessment period. They are also referred as Hydraulic booster which are used to provide power assist for applying hydraulic brakes.
The need to meet the requirements of a growing population in Asia Pacific, in conjunction with expanding industrialization in emerging nations, is fueling the growth of agriculture and construction industries, which, in turn, are increasing the request for hydraulic intensifiers for use in agriculture and construction equipment.
The outbreak of the COVID-19 widespread in the region has driven to a noteworthy slowdown in this industry verticals. The widespread has seriously influenced the supply chain of the market.
Further increasing oil & gas offshore exploration will provide momentum to the market in the region, with increasing use of ROV’s(robot operated vehicles) in exploration, its sales is also anticipated to growth synchronously with it.
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USA is one of the largest markets for Hydraulic intensifiers globally. Sales in USA is fueled by agriculture, oil &gas, firefighting, military equipment, drilling & mining application and automobile. Although construction industry remains prominent contributor.
Increased development activities will be a significant factor in driving the development of this products in USA Growing investment in infrastructural advancement and USA government’s noteworthy investments in the development of sports infrastructure and facilities.
This development in construction activities will increase the demand for hydraulic-based construction equipment, such as excavators, water powered cranes, and loaders. This, alongside innovative improvements within the core construction and infrastructure industry, is anticipated to increase demand.
Some of the leading manufacturers and suppliers of hydraulic intensifiers include
Many leading manufacturers and suppliers have longstanding contracts with end-users to supply. Supply contract to provide hydraulic intensifiers to excavator manufacture, automotive manufacturer, agriculture machinery manufacturer.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Hydraulic Intensifiers Market
