The Europe Industrial Hydraulic Power Unit Market size was valued at $2.8 billion in 2019, and is anticipated to generate $4.1 billion by 2027. The market is projected to experience growth at a CAGR of 6.3% from 2020 to 2027. Hydraulic power unit is the main component of the hydraulic system, which is used to control, transmit and distribute energy from the pressurized liquid to perform various mechanical tasks. The different types of hydraulic power units are single-acting hydraulic power units, double-acting hydraulic power units, power units, and other complex special power units. Increasing demand of the equipment and machinery that are used in hydraulic power unit are major drivers fueling the hydraulic power unit market, whereas increasing the competition from pneumatic fluid power technology act as restraining factor for this market.
The key players operating in the hydraulic power unit market are Brevini Fluid Power S.P.A, Danfoss, Eaton Corporation, Emerson Electric Co., Festo, Hydac International GmbH, Robert Bosch, Sick Holding GmbH, SOMI srl GmbH, and Weber Hydraulik GmbH. The players in the market have adopted several strategies to sustain the market competition. The market players are also investing largely into R&D activities for the same, owing to increase in population that directly increases demand for food.
Growth in industrial activities and increasing applications of HPUs for food processing machinery are some important factors driving the Europe industrial hydraulic power unit market growth. However, alternative sources of power transfer using electro-mechanical & electric drives, which are cost-effective and highly efficient in terms of shorter lead time are some of the factors hampering the growth of the market.
Europe Industrial Hydraulic Power Unit Market, by Industrial Application
The cutting application segment dominated the market share in 2019 owing to wide use in automobile, aviation, metallurgy, light industry, chemical industry, ships, electric power, construction, and other industries; however, the multi-tooling application segment is expected to grow at a higher CAGR during the forecast period as the multi-tooling machineries are capable of performing more than one functions as and when required.
By Industrial Application
Multi-Tooling application is projected as the most lucrative segment.
Europe Industrial Hydraulic Power Unit Market, by Component
The auxiliary components segment dominated the market in 2019 as part of the service and maintenance services as they need to be checked and replaced over a due course of time. However, the power components segment is expected to grow at a higher CAGR during the forecast period owing to simple structure, easy fabrication, low cost, small size, light weight, self-priming performance, not sensitive to pollution of the oil, reliable, and high-speed range.
By Component
Power Component is projected as the most lucrative segment.
Europe Industrial Hydraulic Power Unit Market, by Operating Pressure Rate
Moreover, on the basis of operating pressure rate, the 2000-3000 psi segment dominated the market share in 2019 as they are used in assembly machinery, multi-tasking machinery, hydraulic presses, and mounting stands & equipment. However, 750-2000 PSI segment is expected to grow at higher CAGR during the forecast period as they are involved in food processing, beverage processing, simple tools used in cutting, grinding, or milling applications.
By Operating Pressure Rate
750-2000 PSI is more than 60% is projected as the most lucrative segment.
Europe Industrial Hydraulic Power Unit Market, by Country
Country wise, Germany dominated the market in 2019, owing to presence of industries such as equipment for mounting, assembly machinery, mining machinery, steel industry, and equipment for robotics and automated manipulation. However, the UK is expected to grow at higher CAGR during the forecast period owing to use in meat processing machinery, test equipment, construction & mining material handling, and other industries.
By Country
UK is projected as the most lucrative market.
Key Benefits For Stakeholders
- The report provides an in-depth analysis and Europe Industrial Hydraulic Power Unit Market forecast along with the current and future market trends.
- This report highlights the key drivers, opportunities, and restraints of the Europe Industrial Hydraulic Power Unit Market along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the Europe Industrial Hydraulic Power Unit Market industry for strategy building.
- A comprehensive analysis of the factors that drive and restrain the market growth is provided.
- The qualitative data in this report aims on Europe Industrial Hydraulic Power Unit Market trends, dynamics, and developments.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable Europe Industrial Hydraulic Power Unit Market share.
Europe Industrial Hydraulic Power Unit Market Report Highlights
| Aspects | Details |
 By Industrial Application |
|
 By Component |
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 By Operating Pressure Rate |
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 By Region |
|
 Key Market Players | SOMI SRL GmbH, DANFOSS, EMERSON ELECTRIC CO., FESTO, WEBER HYDRAULIK GmbH, DANA INCORPORATED, EATON CORPORATION PLC., Sick AG, HYDAC INTERNATIONAL GmbH, ROBERT BOSCH |
Analyst Review
According to the insights from the CXOs, the growing demand for equipment and machinery, in which hydraulic power units are used, is a key factor fueling the Europe Industrial Hydraulic Power Unit market growth. There has been a significant rise in building and construction activities across the region owing to a positive economic outlook and increasing consumer disposable incomes. Higher per capita income has resulted in the improved standards of living, thereby driving the sales and construction of homes. Rapid industrialization in several emerging economies has also contributed toward the expansion of the hydraulic power unit market substantially. Increasing automation in most industrial processes and mounting defense spending present impressive opportunities for firms to capitalize on. However, the second wave of COVID-19 has put the region under lockdown for prevention measures, which will further impact the market growth for year 2020 and early months of 2021.
The growing industrialization and increased investments in robotics & automation industry boosts the demand for hydraulic power unit.
The market value for Europe Industrial Hydraulic Power Unit was $ 2.8 billion in 2019 and is expected to grow to $4.1 billion by 2027.
To get latest version of Europe Industrial Hydraulic Power Unit Market report can be obtained on demand from the website.
The top companies in the market are Brevini Fluid Power S.P.A, Danfoss, Eaton Corporation, Emerson Electric Co., Festo, Hydac International GmbH, Robert Bosch, Sick Holding GmbH, SOMI srl GmbH, and Weber Hydraulik GmbH.
Food processing, metal shearing, wind energy, and robotics & automation industry is expected to increase demand for hydraulic power unit.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
Cutting application accounted for the largest Europe Industrial Hydraulic Power Unit market share.
The main driver for Europe Industrial Hydraulic Power Unit Market is rapid technological advancements in industrial sector.
Multi-tooling application, cutting application, rubber & plastic application, and forming application are expected to drive the adoption of Europe Industrial Hydraulic Power Unit.
The COVID-19 pandemic hugely impacted the Europe Industrial Hydraulic Power Unit market in 2020 as there was lockdown implemented for over 6 months. The industrial activities and operations excluding food processing were shutdown and thus the demand for the hydraulic power units decreased. Moreover, there are some countries such as Germany and France who have implemented lockdown again till December.
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