Market Size of Hydraulic Motors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hydraulic Motors Market Analysis
The global hydraulic motors market is expected to witness a CAGR of over 4.5%, during the forecast period, 2020-2025.
- Some of the major factors driving the growth of the market studied include the growing construction industry, the agricultural sector, and the mining industry, primarily owing to an increase in the consumption of base and precious metals. Additionally, consistent technological advancements are expected to offer growth opportunities for manufacturers. However, a shift in the focus toward electrification and adoption of electric motors in applications, such as oil and gas and construction equipment, is expected to hinder the market’s growth.
- In 2019, by type, the piston motors segment accounted for the largest market share. By application type, the off-road applications segment accounted for the largest market share. In the off-road applications segment, the construction machinery sub-segment accounted for the largest market share. By region, in 2019, the Asia-Pacific region dominated the market with a share of over 39%, followed by North America and Europe.
- Some of the major players dominating the market are Eaton Corp., Parker Hannifin Corp., Danfoss, Bosch Rexforth AG, Kawasaki Precision Machinery Co., and Poclain Hydraulics, among others. The top four major players accounted for more than 60% of the global hydraulic motors market share in 2018.
