August 04, 2023 14:39 ET | Source: ReportLinker ReportLinker
New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hydraulic Power Unit Global Market Report 2023" - https://www.reportlinker.com/p06479736/?utm_source=GNW , Bailey International LLC, Dynex Semiconductor Ltd., ICS Blount Inc., Husqvarna Motorcycles, Atlas Copco Group, Hydra Products Ltd., and Poclain Hydraulics Private Limited. The global hydraulic power unit market is expected to grow from $6.31 billion in 2022 to $6.76 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hydraulic power unit market is expected to reach $8.56 billion in 2027 at a CAGR of 6.1%. The hydraulic power unit market consists of sales of single-acting hydraulic power pack and double-acting hydraulic power pack.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. A hydraulic power unit refer to an independent device that consists of a motor, a fluid reservoir, and a pump that apply the hydraulic pressure required to power motors, cylinders, and other auxiliary components of a specific hydraulic system.The hydraulic power unit is used to transform mechanical energy into hydraulic energy to create fluid flow throughout the system. It is used in tractor-mounted excavators, aerial work platforms, lifters, log loaders, and other devices. Asia-Pacific was the largest region in the hydraulic power unit market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in hydraulic power unit report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The main types of hydraulic power units include gas hydraulic power units and electric hydraulic power units.Gas hydraulic power units, sometimes referred to as engine-driven power packs, provide higher flow rates and more force than diesel hydraulic power units, allowing hydraulic power units to lift and move bigger objects with less room. They consist of various components such as hydraulic motors, hydraulic pumps, accumulators, and accessories with various pressure ratings such as 0-750 psi, 750-2000 psi, 2000-3000 psi, and pressure ratings greater than 3000 psi. It is applied in civil engineering projects, automotive industry, the energy industry, and others. The rising infrastructure development is expected to propel the growth of the hydraulic power unit market going forward.Infrastructure development means improving the standard of the numerous infrastructure elements, including roads, power, ICT, water, and sanitation also improving the growth, output, and standard of living. In infrastructure development, hydraulics is influencing both river flows and sediment fluxes significantly. For instance, according to the Infrastructure in the UK, investment and net Stocks: May 2022, published by the Office for National Statistics, a UK-based executive office of the Statistics Authority, in 2020, the total net stock of infrastructure in the market sector was $376.12 (£342.6) billion, increased by 0.9% compared to the previous year. Further, according to a report shared by USA Facts, a US-based non-profit organization and website that provides data and reports on the United States population, spending on infrastructure and transportation in 2022 will be 21% greater than it was in 2019 before the pandemic. Therefore, the rising infrastructure development is driving the growth of the hydraulic power unit market going market. Technological innovations are a key trend gaining popularity in the hydraulic power unit market.Major companies operating in the hydraulic power unit market are adopting new technologies to sustain their position in the market. For instance, in March 2021, Terzo power systems, a US-based machinery manufacturing company, launched hydra pulse electrified technology.The Hydra pulse is an integrated power-on-demand hydraulic power unit with built-in intelligence. It is a whole electrohydraulic system. Its revolutionary design, small, compact size, and electronically controlled motor and pump assembly make it the industry leader in hydraulic performance. In February 2023, Bosch Rexroth AG, a Germany-based automation machinery manufacturing company acquired Hydra force Inc. for an undisclosed amount. This acquisition broadens Bosch Rexroth’s access to the global market through indirect sales channels. Sales partners and system integrators will now be key target markets. Through this acquisition, Bosch Rexroth AG worked to stabilize local supply chains to better serve their consumers. Hydra Force Inc. is a US-based manufacturer of products for hydraulically powered mobile equipment. The countries covered in the hydraulic power unit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The hydraulic power unit market research report is one of a series of new reports that provides hydraulic power unit optical components market statistics, including hydraulic power unit optical components industry global market size, regional shares, competitors with a hydraulic power unit optical components market share, detailed hydraulic power unit optical components market segments, market trends and opportunities, and any further data you may need to thrive in the hydraulic power unit optical components industry. This hydraulic power unit optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. Read the full report: https://www.reportlinker.com/p06479736/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ 49132 Hydraulic Power Unit
