According to a new report published by Allied Market Research, titled, " — Hydraulic Tools Market by Type and End-User: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global hydraulic tools market size was valued at $1,567.6 million in 2018, and is projected to reach $2,347.0 million by 2026, growing at a CAGR of 5.9% from 2019 to 2026. The growth of the global market is driven by rise in the material handling equipment industry. Increase in new technologies such as SGH wire-actuated encoders, which measure the cylinder stroke in the hydraulic cylinder, boost the demand for hydraulic tools across the globe.
North America serves as the most productive region as compared to others with diverse industry verticals significantly investing for business expansion, and growth in the power and construction sector is anticipated to boost the demand for hydraulic tools.
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The key players profiled in the report include Actuant Corporation, Atlas Copco AB, SPX Flow, Kudos Mechanical Co., Ltd., Textron Inc., IDEX Corporation, HTL Worldwide Ltd., Shinn Fu, Hi-Force, and Cembre Inc.
Global Hydraulic Tools Market Segments:
Hydraulic Cylinder and Jack
Hydraulic Rescue Tools
Tension and torque tools
Oil & gas and petrochemical
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Key Findings of the Study:
The report provides an extensive analysis of the current and emerging hydraulic tools market trends and dynamics.
Depending on type, the hydraulic cylinder and jack segment dominated the market, in terms of revenue in 2018 and the tension and torque tools segment is projected to experience growth at a CAGR of 5.9% during the forecast period.
By end-user, the industrial manufacturing segment led the hydraulic tools market in 2018.
North America is projected to register the highest growth rate in the coming years.
Key market players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the hydraulic tools industry.
The report provides an extensive analysis of the market trends and emerging opportunities of the market.
In-depth hydraulic tools market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
The global hydraulic tools market forecast analysis from 2019 to 2026 is included in the report.
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