Hydraulic Equipment Market Gears Up for Expansion Across Diverse Industries | Forecast 2025-2034
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The hydraulic equipment market is expected to grow significantly across various industries in the coming years. According to a report by Market Research Future, the market is expected to expand from USD 62.79 billion in 2025 to USD 137.64 billion by 2034, reflecting a compound annual growth rate (CAGR) of about 9.11% during the forecast period.
This is due to the following factors:
Such expansion also necessitates advanced hydraulic machinery for heavy lifting and precise control of activities in the construction sector.
The performance and efficiency of hydraulic systems are being enhanced with technological advancements such as energy-efficient pumps and IoT integration, which increases their adoption among industries.
Hydraulic equipment is particularly essential for various industrial applications, including manufacturing, agriculture, and transportation processes, thereby increasing the demand for them.