Hydraulic Components Industry Market and Trend

A complete hydraulic system consists of five components: the power units, the executive units, the control units, the auxiliary units and the working medium (hydraulic oil). Hydraulic system can be divided into hydraulic transmission system and hydraulic control system. The hydraulic transmission system takes the transmission of power and motion as the main function. The hydraulic control system then has to make the hydraulic system output meet specific performance requirements (especially dynamic performance).

The global hydraulics components industry market size was USD 32.5 billion in 2017, growing to USD 36.3 billion in 2022, with a CAGR of 2.2% from 2017 to 2022. The global hydraulics components industry market size is expected to grow to USD 39.6 billion in 2027, with a CAGR of 1.8% from 2022 to 2027.

Figure 2017-2027 Global Hydraulic Components Industry Market Size (Billion USD) and CAGR
The global hydraulics components market share in North America, Asia & Pacific and Europe are 38.1%, 36.9% and 21.7%, respectively.
The major types of hydraulic components include gear pumps, vane pumps, piston pumps, piston motors, cycloidal motors, hydraulic valves, and hydraulic cylinders. The market share of hydraulic cylinders is 45.5%, the market share of hydraulic valves is 13.2%, and the market share of piston motors is 11.0%.