Market Share of Hydraulic Equipment Industry
The intensity of competitive rivalry in the hydraulic equipment market is moderately high. It is expected to increase over the forecast period due to several prominent players such as Bosch Rexroth AG (ROBERT BOSCH GMBH), Parker-Hannifin Corporation, Hydac International GmbH, Danfoss A/s, SMC Corporation, among others in the market. These players are also adopting merger and acquisition strategies to gain market share.
In April 2023, Bosch Rexroth unveiled its Hägglunds Quantum range of hydraulic motors, designed to enhance torque and speed capabilities while retaining efficiency for direct drive applications in heavy-duty equipment. Also, these motors provide a maximum speed of over 150 rpm & maximum torque of more than 350 kNm. Changes to the design and materials used allowed the boost in speed and torque and a longer lifespan while ensuring efficient operation.
In November 2022, Caterpillar announced the launch of two new hydraulic excavators, namely Caterpillar 340 and 352. According to Caterpillar, the new Cat 340 Hydraulic Excavator had a stronger engine, wider track, and 7.5-ton counterweight to improve productivity by 10% over the 2020 model year Cat 336. On the other hand, the new Cat 352 Hydraulic Excavator combined better power and a heavier counterweight to work with bigger tools.
Hydraulic Equipment Market Leaders
SMC Corporation
Hydac International Gmbh
Bosch Rexroth AG
Danfoss AS
Parker-Hannifin Corporation
*Disclaimer: Major Players sorted in no particular order
