Portland,OR, July 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hydraulic tools market was estimated at $1.6 billion in 2020 and is expected to hit $2.7 billion by 2030, registering a CAGR of 5.4% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Rapid industrialization and increase in petrochemical & industrial manufacturing activities drive the growth of the global hydraulic tools market. On the other hand, high cost and regular maintenance impede the growth to some extent. However, surge in construction and mining activities is expected to create lucrative opportunities in the industry.
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Covid-19 scenario-
- The lockdown measure across countries and delay in manufacturing and production of hydraulic hammers, hydraulic jacks, and hydraulic cylinders used in construction, mining, and industrial manufacturing applications had a sheer negative impact on the global hydraulic tools market.
- However, the market has almost gotten back on track.
The global hydraulic tools market is analyzed across type, distribution channels, end user, and region. Based on distribution channels, the offline segment contributed to more than three-fourths of the total market revenue in 2020, and is projected to lead the trail by 2030. The online segment, however, would exhibit the fastest CAGR of 5.7% during the forecast period.
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Based on end user, the industrial manufacturing segment generated the highest share in 2020, accounting for nearly three-fifths of the global market. The others segment, on the other hand, would cite the fastest CAGR of 6.2% from 2021 to 2030.
Based on region, the market across North America held the major share in 2020, garnering more than four-fifths of the global market. LAMEA, simultaneously, would manifest the fastest CAGR of 6.0% throughout the forecast period.
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Top Players:
The key market players analyzed in the global hydraulic tools market include Atlas Copco AB, SPX Flow, Kudos Mechanical Co., Ltd., Hi-Force, IDEX Corporation, Cembre S.P.A., Robert Bosch GmbH, Stanley Black & Decker, Inc., Actuant Corporation, and Emerson Electric Co. They have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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