North America hydraulic equipment market is estimated to grow at a CAGR of 4.6% during the forecast period. The market was valued at nearly $10.1 billion in 2019, which is estimated to reach nearly $13.8 billion in 2026. Some pivotal factors encouraging market growth include the rising minerals mining operations and significant growth in the aerospace and defense industry. As per the US Geological Survey (USGS), in 2019, the US mines produced nearly $86.3 billion in minerals in 2019, which is more than $2 billion higher compared to revised 2018 production totals. The materials that can be extracted from the seabed comprise aluminium (bauxite+ e), mineral sands (ilmenite, rutile, zircon), rocks salts, gold, tin (cassiterite), and diamond deposits. 

In North America, 85% of mining is regarded as surface mining in which the overlying mineral layer (known as the overburden) is eliminated, and then the mineral is removed with the use of shafts or tunnels. A two-part process is involved in surface mining that involves the power of hydraulics. Hydraulics make mineral extraction possible efficiently and safely. To remove the overburden, powerful earthmovers are used to support access to the minerals. Later, the gigantic excavators are used for mineral extraction from the earth. Hydraulics are also used to transport the materials from the mining site to the processing plant.

The market is segmented based on type, product, and end-user industry. Based on type, the market is classified into mobile hydraulics and industrial hydraulics. Mobile hydraulic equipment is used in agriculture and forestry machinery. This equipment is especially effective where high output power along with minimum weight is required. Mobile hydraulic systems have high power density along with low space requirements. 

Based on the product, the market is classified into motors and pumps, valves, cylinders, and others. Based on the end-user industry, the market is classified into construction and mining, agriculture, oil and gas, automotive, aerospace and defense, and others. Parker Hannifin offers advanced sensors to support end-users and manufacturers of mobile hydraulics to improve operating performance for the long term while minimizing entire life cycle costs. Such sensors are extremely lightweight and compact that use reliable technology and are developed to fulfill the profitability and productivity requirements of the mobile sector. The feature of the sensors makes them appropriate in several diverse applications, ranging from construction and forestry, to lift trucks, to buses and commercial vehicles.

Some key players operating in the market include Daikin Industries, Ltd., Bosch Rexroth AG, Danfoss A/S, Emerson Electric Co., and Parker-Hannifin Corp. The market players are using some key strategies to increase their market share. For instance, in December 2019, Eaton Corp. launched four new hydraulics products for the Indian market, which includes Steering unit 5SQ, Eaton Spiral hose EC640, X70 closed-circuit piston, and plug-in motor, and Cast Iron piston motor 743XX. These new products are designed to offer end-users and customers reliable, robust, and efficient management of power for applications that require higher pressure and operate under arduous conditions.

Research Methodology

The market study of the North America hydraulic equipment market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. North America Hydraulic Equipment Market Research and Analysis by Type
2. North America Hydraulic Equipment Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the North America hydraulic equipment market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North America hydraulic equipment market.
• Insights about market determinants which are stimulating the North America hydraulic equipment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.