According to the business intelligence report titled ‘Global Fluid Power Equipment Market: Analysis By Type (Hydraulic, Pneumatic), Product (Pumps, Motors, Valves, Cylinders, Filters, Actuators), Application, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global fluid power equipment market which held a valuation of USD 48.9 billion in 2020 is anticipated to experience a strong growth rate through 2026.

Rising automation in factories, burgeoning production of vehicles, advent of user-friendly products, and stringent international standards for motor efficiency are some of the major factors driving global fluid power equipment market growth.

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Moreover, rapid urbanization, pervasiveness of established conglomerates and local supply chain businesses, as well as increasing product usage across different industry spaces will have a positive impact on the growth trajectory of the market in the upcoming years.

Despite the positive outlook, the onset of the COVID-19 pandemic and the resulting lockdown mandates across the globe have caused some major supply chain disruptions in the industry, impacting total sales and remuneration scope over the past few years.

Moving on, for the sake of a detailed evaluation, worldwide fluid power equipment industry is segregated in terms of product offerings, type, application scope, and regional terrain. Each sub-market is extensively reviewed in the research report to aid stakeholders gain clarity on the functioning of the marketplace and widening their profit margins in the forthcoming years.

From a regional standpoint, Asia Pacific is estimated to be an important contributor to the total remuneration scale of the industry during the analysis timeframe. This development can be attributed to flourishing automobile & industrial sectors, as well as growing inclination towards improving the manufacturing operations in developing nations such as China and India.

The competitive hierarchy of global fluid power equipment marketplace is defined by major players such as Emerson Electric Co., Robert Bosch GmbH, Daikin Industries Ltd., Schlumberger Ltd., Eaton Corporation plc, Crane Co., The Flowserve Corporation, Concentric AB, Marzocchi Pompe S.p.A., and Gates Industrial Corporation plc.