Hydraulic Tool Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

Hydraulic tools are high-powered tools that use pressurized fluid to operate hydraulic machinery. The fluid moves through hydraulic tubes and into the tool’s actuator, where the pressure stored in the fluid is transferred to the machine’s moving parts. Then the fluid is channeled back via a pumping mechanism to be re-pressurized. Hydraulic tools perform a variety of industrial applications. Hydraulic impact hammers drive fasteners for tasks such as building fences and temporary barriers. Hydraulic impact wrenches turn bolts. Hydraulic cutters slice through cable, pipe, or rebar. Hydraulic post tools install or remove poles and posts. There are different types of hydraulic tools like hydraulic rescue tool, tension & torque tools, hydraulic cylinder & jack, and others. The hydraulic tools are used over electrical and pneumatic tools owing to the advantages it offers such as the increased probability to attain significantly greater torque or force with equipment of a similar size. Increase in urbanization has led to expansion of the industrial sector throughout the globe. The industrialization has increased, owing to development in transportation, high immigration, new inventions, and high investments, majorly in Asia-Pacific. Moreover, the increase in urbanization has resulted in increased construction activities, thereby fueling demand for hydraulic tools.

The hydraulic tool market is anticipated to reach USD XXX.X million by 2030 from USD XXX.X million in 2021, at a CAGR of 5.4% during the forecast period. The global market for hydraulic tool is growing rapidly due increasing demand for efficient and safe tool in various industries.

Growth Drivers:

Hydraulic tool is essential for moving considerable amounts of weight. When liquids are compressed, it has the potential to form a force ten times greater than the amount of pressure that was initially applied, which shows the possibility of moving hefty weight with less power used. The rules permit the hydraulics to move large amounts of weight quickly, which helps in improving efficiency.

Hydraulic tools allow users to control whatever weight is transferred from a remote or control panel. An operator starts, stops, raises, lowers, accelerates, or decelerates a button with a single push. Elevators are an excellent illustration of the simplicity of hydraulics. With just a push of a button, a hydraulic system can take people down or up on many floors of a hotel, office building, or residential society

The hydraulic industry is pushing forward to make user interface applications. Parker has already developed a UX Toolkit software tool that streamlines all machine applications. The application contained core machine functions, diagnostics or prediction applications that reduce downtime, smart control systems, and GPS monitoring & navigation applications. By operating Parker’s pro display human-machine interface module, the preferred features can be concentrated into a single display and a uniform user interface.

The market for material handling equipment is anticipated to be driven by the rising need for automated solutions across a number of industries, including automotive, metal, construction, and mining. The function, controllability, power, and safety of material handling equipment are being improved through the use of hydraulics. As a result, the demand for hydraulic tool is driven by the rising demand for material-handling equipment.

Hydraulic Tool Segmentation:

By Type:

·        Hydraulic Rescue Tool

o   Cutters

o   Spreader

o   Combination spreader

o   Extension rams

·        Tension and Torque Tools

·        Hydraulic Cylinder and Jack

o   Tie Rod Cylinder

o   Telescopic Cylinder

o   Plunger Cylinder

o   Other Cylinders

o   Single Acting Hydraulic Jack

o   Double Acting Hydraulic Jack

·        Others

By Distribution Channel:

·        Online Stores

·        Direct Sales and Distributors

·        Hardware Stores

·        Others

By End Use Industry:

·        Construction

·        Railway

·        Refining & Petrochemical

·        Industrial Manufacturing

·        Electric Utility

·        Oil & Gas

·        Others

By Region:

·        North America

·        Europe

·        Asia Pacific

·        Latin America

·        Middle East and Africa

Hydraulic Tool Market by Type Review:

Based on the type, the market for hydraulic tool is segmented into four segments: hydraulic rescue tool, tension & torque tool, hydraulic cylinder & jack, and others. On the basis of type, hydraulic cylinder & jack are expected to dominate the market in terms of market share, while it is forecasted to grow at the highest rate in terms of CAGR during the forecast period because hydraulic cylinders are widely used in a number of industries, including material handling, construction, and industrial manufacturing. Hydraulic cylinders and hydraulic jacks can be designed to any level of sophistication, right from easy to hard design.

Hydraulic Tool Market by Distribution Channel Review:

Based on the distribution channel, the market is segmented into online stores, direct sales and distributors, hardware store, and others. On the basis of distribution channel, the segment for online is expected to be the largest in terms of market share, while the segment is projected to grow at the fastest rate in terms of CAGR during the forecast period. COVID-19 has impacted the online global hydraulic tools market sales. The trend is likely to be followed in upcoming years.

Hydraulic Tool Market by End-Use Industry Review:

Based on the end-use industry, the hydraulic tool market is segmented into seven segments based on end-use industry: construction, railway, refining & petrochemical, industrial manufacturing, electric utility, oil & gas, and others. Among these, industrial manufacturing is expected to dominate the market in terms market share, while the segment is forecasted to grow at the highest rate in terms of CAGR during the forecast period due to the considerable increase in investment in industrial infrastructure. Industrial manufacturing depends on hydraulics. The industrial manufacturing hydraulics are utilized for functions like cutting, processing, fabricating, and packaging. Industrial manufacturing pushes the growth of the global hydraulic tools market.

Regional Outlook:

The hydraulic tool market research report offers detailed analysis and forecasts for five major regions i.e., North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa.

North America is expected to dominate the global hydraulic tool market in terms of market share during the forecast period, due to the rise in commercial infrastructure construction activities and the growth and development of the manufacturing sector is expected to drive the growth of hydraulic tool market in the North America region. Additionally, Oil and gas sector is expanding quickly in the region, For Instance, The US Energy Information Administration projects that by December 2022, dry natural gas production will have increased from a daily average of 95.1 billion cubic feet in October 2021 to 97.5 billion cubic feet. This increased production is expected to drive the growth of hydraulic tool market in the region.

Asia pacific is expected to grow at a highest pace in terms of CAGR during the forecast period, due to increasing investments for industrial applications and enormous spending on construction in the region. Additionally, the increase in manufacturing coupled with construction projects in various transportation segments such as railways boost the demand for hydraulic tools; therefore, drives the growth of hydraulic tool market in Asia Pacific.

Europe followed by Latin America is expected to grow at a substantial rate during the forecast period.

Key Companies in Hydraulic Tool Market:

The research report offers a competitive analysis of prominent companies operating in the hydraulic tool market. Some of the leading players profiled in the market research report include:

·        Textron, Inc

·        SPX flow

·        Actuant Corporation

·        Atlas Copco AB

·        IDEX Corporation

·        Cembre S.P.A.

·        Emerson Electric Co.

·        Kudos Mechanical Co. Ltd.

·        HTL Group Ltd.

·        BVA Hydraulics

·        Robert Bosch GmbH

·        Hi-Force Hydraulic Tools

·        Shinn Fu

·        Other Players