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Affected by the Steep Decline in Oil Prices due to the COVID-19 Pandemic, the Global Fluid Power Equipment Market is Gradually Recovering
Affected by the Steep Decline in Oil Prices due to the COVID-19 Pandemic, the Global Fluid Power Equipment Market is Gradually Recovering
Bleak Investment Activity and the Global Economic Shrinkage will Lead to a Short-term Market Contraction
25-Nov-2020
North America
Market Research
Description
Owing to the US-China trade war and the global economic slowdown caused by the COVID-19 pandemic, the global fluid power equipment market is projected to face a sharp revenue contraction in 2020. Key end users, including oil and gas, aerospace and defense, and construction, are experiencing unprecedented declines due to the pandemic. The imposition of national lockdowns, travel bans, and the widespread stagnation of industrial activities have subdued the demand outlook for fluid power equipment. The global pumps and motors market is expected to experience a 4-5% revenue decline. Globally, macroeconomic factors such as negative GDP growth in developed countries and low purchasing managers’ index (PMI) indicate a tightening of overall market spend on fluid power equipment.
While the North American market will be significantly affected by a prolonged healthcare crisis and the effects of the US-China standoff, the Asia-Pacific market is anticipated to recover by the end of 2020, after a slump in the first 2 quarters of the year. Despite the negative growth being seen across multiple end-user industries, life science was able to record double-digit growth. This was mainly driven by the need to meet the explosive demand for motors, actuators, and valves for ventilators and medical equipment. In addition, sustained demand from essential industries such as food and beverage, as well as the plastics and the chemicals industries, helped to assuage the overall impact of the COVID-19-induced revenue decline.
The growing adoption of digital technologies and the shift to hybridization are expected to accelerate after the pandemic abates (mainly due to the proliferation of automation and control). As end users focus on reducing overall operational footprint, the adoption of robots across manufacturing floors will open up new opportunities for market participants. As fluid power equipment is crucial to the implementation of smart manufacturing systems, the need for technology-as-a-service and equipment-as-a-service models will increase. Virtual field services and digital workforce technologies will help the market recover and adapt to the current environment.
Key Issues Addressed
- Which key factors will impact the global fluid power equipment market in 2020?
- What trends will shape the market in 2020?
- How will the COVID-19 pandemic affect overall end-user demand in 2020? What are the key end-user trends?
- What does the competitive environment look like? Who are the key market participants?
- What are the growth opportunities in this market?
- What are the key projections for the hydraulics and the pneumatics segments?
RESEARCH: INFOGRAPHIC
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Table of Contents
Top Predictions for 2020
Top Trends for 2020
Top Trends for 2020 (continued)
Revenue Forecast for 2019 and 2020
Market Engineering Measurements
Market Engineering Measurements (continued)
Key Findings
CEO’s Perspective
Market Definitions
Market Definitions—Hydraulic Equipment Segment
End-user Segmentation—Hydraulic Equipment Segment
End-user Segmentation—Hydraulic Equipment Segment (continued)
Market Definitions—Pneumatic Equipment Segment
End-user Segmentation—Pneumatic Equipment Segment
End-user Segmentation—Pneumatic Equipment Segment (continued)
Market Segmentation
Global Economic Outlook
Global Fluid Power Equipment Outlook
Total Fluid Power Equipment Market—Sales by Region in 2019 and 2020
Hydraulic Equipment Segment—Sales by Region in 2019 and 2020
Hydraulic Equipment Segment—Sales by End Users in 2019 and 2020
Hydraulic Equipment Segment—Sales by Product Type in 2019 and 2020
2019 Market Share—Hydraulic Equipment Segment
Pneumatic Equipment Segment—Sales by Region in 2019 and 2020
Pneumatic Equipment Segment—Sales by End Users in 2019 and 2020
Pneumatic Equipment Segment—Sales by Product Type in 2019 and 2020
2019 Market Share—Pneumatic Equipment Segment
Construction Industry—Investment Outlook
Agriculture Industry—Investment Outlook
Material Handling Industry—Investment Outlook
Aerospace and Defense Industry—Investment Outlook
Oil and Gas Industry—Investment Outlook
Machine Tools Industry—Investment Outlook
Plastics Industry—Investment Outlook
Automotive Industry—Investment Outlook
Food Processing and Packaging Industry—Investment Outlook
Life Science Industry—Investment Outlook
End-user Outlook 2020—North America
Product Type Outlook 2020—North America
Market Share—North America
End-user Outlook 2020—EMEA
Product Type Outlook 2020—EMEA
Market Share—EMEA
End-user Outlook 2020—APAC
Product Type Outlook 2020—APAC
Market Share—APAC
End-user Outlook 2020—RoW
Product Type Outlook 2020—RoW
Market Share—RoW
End-user Outlook 2020—North America
Product Type Outlook 2020—North America
Market Share—North America
End-user Outlook 2020—EMEA
Product Type Outlook 2020—EMEA
Market Share—EMEA
End-user Outlook 2020—APAC
Product Type Outlook 2020—APAC
Market Share—APAC
End-user Outlook 2020—RoW
Product Type Outlook 2020—RoW
Market Share—RoW
Growth Opportunity 1—Electro-Hydraulic and Precision Technology in Agriculture
Growth Opportunity 2—Material Handling Robots
Growth Opportunity 3—Virtual Field Services
Growth Opportunity 4—Integration of IIoT and Digital Twins
Growth Opportunity 5—Additive Manufacturing
Strategic Imperatives for Success and Growth
Key Conclusions for 2020
Legal Disclaimer
Market Engineering Methodology
Additional Sources of Information on the Global Fluid Power Equipment Market
Hydraulic Equipment Segment—List of Other Companies
Pneumatic Equipment Segment—List of Other Companies
Partial List of Companies Interviewed
Learn More—Next Steps
Partial List of Expansions and Acronyms Used in the Study
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
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Popular Topics
Key Issues Addressed
- Which key factors will impact the global fluid power equipment market in 2020?
- What trends will shape the market in 2020?
- How will the COVID-19 pandemic affect overall end-user demand in 2020? What are the key end-user trends?
- What does the competitive environment look like? Who are the key market participants?
- What are the growth opportunities in this market?
- What are the key projections for the hydraulics and the pneumatics segments?
| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Krishnan Ramanathan |
| Industries | Industrial Automation |
| WIP Number | K4F5-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 99EA-A5,9593,9420 |