MACHINERYGlobal mobile hydraulics market rebounds in 2021 – report

The global mobile hydraulics market rebounded in 2021, hitting $18.7bn in revenues, following a slight contraction the year previous, according to a new report from market intelligence company, Interact Analysis. Between 2019 and 2021, the market grew with a CAGR of 5.2%, mainly due to a boom in the material handling market and increased demand for construction equipment. It is expected that new hydraulic technologies such as digital and electro hydraulics will improve hydraulic efficiency, an important consideration in the wider context of vehicle electrification.

          The mobile hydraulics market in Europe, the Middle East and Africa (EMEA), and the Americas contracted by -9.7% and -3.2% respectively in 2020. EMEA’s share in the agricultural machinery production market, which has traditionally been a dominant user of hydraulic equipment, has since “eroded” according to the latest findings. Yet, EMEA and the Americas rebounded in 2021, and this is expected to continue into 2022 as order backlogs are met. One thing that came as a surprise when conducting this research was that vehicle electrification is not driving the increased demand for hydraulic substitutes at the rate we expected,” said Brianna Jackson, Research Analyst at Interact Analysis.