Global hydraulic power unit market is expected to experience boom over the forecast period owing to rising construction and increasing production capacities of oil fields coupled with growing stress on the agricultural sector. It had witnessed considerable growth in the past decades since its implementation in hydraulic machineries. Hydraulic power unit is a vital part of a hydraulic system as it can generate a significant quantum of power to initiate mostly any type of hydraulic ram. They draw power using the Pascal’s law, i.e., through ratios of area and pressure. Hydraulic power unit market includes applications such as machine tools, aerospace test equipment, automation systems, meat processing machinery, mobile equipment, rolling mill machinery and material handling equipment. Also, they are applied in agricultural equipment, paper mill machinery, oil exploration, oil spill clean-up equipment, industrial process, marine equipment, construction equipment, and theatrical & production equipment. With rising demand for these machineries, the hydraulic power unit market is expected to witness high growth as a result of rapid industrialization.
A hydraulic system applies enclosed fluid to transmit energy from one point to another, and thus, creates linear motion, rotation, or force. Hydraulic power unit implements the pressure that runs cylinders, motors, and other parts of a hydraulic system. These power units, unlike standard pumps, use pervasive pressurization networks for moving fluid; and comprise of temperature control devices. The mechanical specifications and characteristics of a hydraulic power unit defines the kind of projects it will be effective for.
In terms of applications, hydraulic power unit market can be segmented into industrial, mobile, and other intermittent or medium duty applications. The major portion of the market is accrued to the mobile applications owing to the ability of providing higher power transmission in a comparatively small size. Industrial application is utilized primarily in industries, such as steel and automotive where heavy duty applications are required. Rising agriculture and construction activities, coupled with the replacement of old units, is the key driver for the hydraulic power unit market.
In terms of regions, hydraulic power unit market can be segmented into North America, Asia Pacific, Europe, Latin America and Africa & the Middle East. Among these, the highest growth rates, over the past few years, was witnessed by Asia Pacific, owing to numerous construction activities and higher industrial investment in the region. On the other hand, North America and Europe enjoyed the dominant share of the hydraulic power unit market, as of 2013. Meanwhile, Africa and Latin America enjoyed decent market share, owing to application of hydraulic power units in many oil field operations, material handling and construction equipment.
Over the forecast period, Asia Pacific is expected to maintain consistent growth, owing to huge upcoming infrastructural projects, increasing demand for agricultural outputs and growing housing developments. On the other hand, the European hydraulic power unit market is expected to witness below average growth owing to matured construction sector in the region. African and Latin American markets are expected to grow over the forecast period on account of increasing oil exploration activities coupled with rising standard of living demanding better housing facilities and growing stress on agricultural outputs.
The major players engaged in the hydraulic power unit market are Energy Manufacturing Company, Inc., Hydromega, Branch Hydraulic Systems Ltd and HCS Control Systems Ltd.
Energy Manufacturing Company, Inc., is a U.S based company founded in 1944, and headquartered in Iowa, USA, that caters to the needs of agricultural, construction, forestry, material handling and aerial lifting equipment, on-highway trucks, refuse trucks and Logsplitters. Whereas, Branch Hydraulic Systems Ltd is 1975 established company which specifically caters to the needs of aerospace, automotive, marine, paper mills, mining and packaging industry. They are into the business of designing, manufacturing, installation, servicing and repairing of hydraulic power units and systems. Their products consist of both AC and DC hydraulic power units in addition to two versions of release valve available including one of 20 to 200 bar and the other of 30 to 350 bar. Both of the versions can handle flows of 35 liters per minute. Meanwhile, HCS Control Systems is Scotland based company who expertise in designing and manufacturing hydraulic power units, catering primarily to the requirements of the oil & gas industry worldwide.
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