India Hydraulic Equipment Market Research Report, 2029

The Indian hydraulic equipment market is expected to grow significantly, driven mostly by a burgeoning infrastructure and construction industry. In recent years, there has been a significant transformation in the landscape of hydraulic goods and their applications. Mobile hydraulics continue to be a dominant force, notably in machinery such as excavators, loaders, and cranes, while industrial hydraulics demand is continuously expanding as diverse industries become more automated. This tendency has resulted in an emphasis on high-efficiency and energy-saving equipment, as well as advances in precision and control systems. Culturally, there is an increasing preference for hydraulic equipment manufactured domestically, motivated by a desire to reduce imports. This localization drive reflects a broader desire to promote national manufacturing skills. Furthermore, the implementation of Industry 4.0 principles is gaining pace, resulting in the integration of IoT and sensor-based technologies for predictive maintenance, increased operational efficiency, and reduced downtime. According to the research report “ India Hydraulic Equipment Market Research Report, 2029," published by Actual Market Research, the India Hydraulic Equipment market is growing at a CAGR of 6% from 2024 to 2029. Several factors are driving the growth of the Indian hydraulic equipment market. The government's initiatives, like the Smart Cities Mission and the Bharatmala project, serve as significant accelerators for national infrastructure development. Furthermore, increases in the mining and agricultural sectors are driving up demand for hydraulic machinery. The increase in automation across sectors is also helping to drive market expansion. However, the market has some obstacles that must be addressed. High reliance on imported advanced hydraulic components jeopardises the industry's stability. Furthermore, there is a considerable skill gap in hydraulic equipment maintenance and operation, emphasising the importance of specialised training programs to close this gap. The Indian government is implementing severe safety requirements for hydraulic equipment, which are aligned with worldwide standards to assure product reliability and human safety. Furthermore, there is a rising emphasis on environmental restrictions, which drives the use of biodegradable hydraulic fluids to reduce environmental effects. Overall, the Indian hydraulic equipment market is expected to grow further, driven by changing product trends, cultural transformations, regulatory frameworks, and economic considerations.

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Segment 1 is categorised by application, focusing on mobile and industrial uses. Segment 2, however, delineates products within the hydraulic equipment market, including pumps, motors, valves, cylinders, and miscellaneous items such as accumulators, transmissions, and filters. These products serve diverse needs within various industries. In Segment 3, the market is segmented by end-users, encompassing mining and construction, agriculture, packaging, material handling, and other sectors such as petrochemical, machine tools, automotive, paper, plastic, rubber, and printing. Each segment reflects the wide-ranging applications and products within the hydraulic equipment market, catering to a broad spectrum of industrial and commercial needs. India's booming GDP and rising disposable income are creating a favourable environment for the development of modern construction equipment. This economic backdrop has created a dynamic commercial landscape rich in chances for innovation and technical improvement. Major industry events, such as EXCON (Construction Equipment Exhibition) and Fluid Power India, are critical platforms for encouraging industry networking and demonstrating cutting-edge innovations. These events not only promote knowledge sharing, but also stimulate strategic alliances and collaborations, moving the industry forward. However, despite its market dominance, India is a net importer of hydraulic equipment, with important suppliers emanating from Germany, Japan, and Italy. This reliance on imports highlights both the possibility for domestic production growth and the importance of smart collaborations with international partners to strengthen India's self-sufficiency in this crucial industry. When it comes to pricing and segmentation, the market is complex due to a wide range of product types and applications. Segmentation is usually based on product kinds like pumps, cylinders, and valves, as well as application areas like construction, mining, and agriculture. However, acquiring correct pricing data is difficult due to the bespoke nature of many hydraulic solutions and the competitive dynamics that exist in the market. In recent years, India has increased its emphasis on the Make in India project, which aims to expand local production across a variety of industries. This program has had a significant impact on the hydraulic equipment sector, where increased investment in renewable energy projects has fuelled demand. The demand for hydraulic equipment has increased significantly in sectors such as wind turbine installation and solar panel maintenance. Despite minor difficulties caused by the COVID-19 epidemic, the market has remained resilient and recovered quickly. This resilience is due to government stimulus packages and ongoing infrastructure projects, which have supported demand and spurred the market to development. When compared to its regional counterpart, China, India's hydraulic equipment market is comparatively modest but has tremendous growth potential. Meanwhile, South Korea's market is more developed, with a greater concentration of indigenous firms. In terms of raw material availability, India has a reliable domestic supply of basic resources such as steel. However, the country continues to rely on imports for specialised components and high-quality hydraulic fluids.

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Kripa Shah

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Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Hydraulic Equipment market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Application • Mobile • Industries

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By Product • Pumps • Motors • Valves • Cylinders • Others By End User • Mining & Construction • Agriculture • Packaging • Material Handling • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Hydraulic Equipment industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.