Asia-Pacific Hydraulic Equipment Market Projections & Future Opportunities

The Asia-Pacific hydraulic equipment market is expected to grow at a CAGR of 3.12% during the forecast period. The growing demand for material handling equipment, increasing investment in infrastructure development, and reducing overall equipment costs are some of the major factors driving the growth of the hydraulic equipment market.

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– The hydraulic solution is gaining traction in recent years as they are easy to control and by far the most compact, lightweight, and reliable equipment compared to the traditional approach. Modern hydraulic equipment is accessible in several industries, including construction, roofing, material handling, masonry, automotive, aviation, and manufacturing.
– Moreover, as per the IOGP’s Global Production Report 2019, demand for oil and gas is at the peak, greater than ever before, with dramatic growth in Africa, Asia Pacific, and the Middle East. This has fueled the investment in exploration and production of oil to meet the demand and supply. The key vendors are investing in the region to pursue the “local for local” market approach to providing faster availability and shorter reaction times.

Key Market Trends

Construction Sector Will Experience Significant Growth and Drive the Market

– Asia Pacific region as a whole is united in experiencing substantial economic and population growth, which is expected to continue over the years and fuel the infrastructure development. According to the Asia Development Bank report, total infrastructure needs in the region will grow from USD 2.8 trillion (baseline estimate) to USD 3.1 trillion (climate-adjusted estimate). So, the total annual investment will range from USD 184 billion to USD 210 billion that would be utilized for large scale projects involving energy, road, rail, water, and other infrastructure. It is expected to drive the demand for hydraulic equipment in the construction sector.

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Christophe Rude

Christophe Rude

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