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

RELEASE DATE
25-Nov-2020
REGION
North America
Research Code: K4F5-01-00-00-00
SKU: IA01594-GL-MT_24627

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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

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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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

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)

Related Research
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.--BEGIN PROMO--

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?
More Information
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