Vertical: EnPBase Year: 2019
Market Size (2019)
$43.32B
Projected (2026)
$60.48B
CAGR (2018–2026)
4.8%
Key Players
15+
The demand for hydraulic component is growing rapidly in the global market owing to the various factors, including the increasing growth of the construction industry and the rising industrialization in various countries.
The global hydraulic component market is projected to grow at 4.98% CAGR during the forecast period, 2020 to 2026. In 2019, the global hydraulic component market was dominated by Asia-Pacific with a 32.21% share, followed by North America and Europe with shares of 25.98% and 22.89%, respectively.
The global hydraulic component market has been segmented based on product, application, end use, and region. Based on product, the global hydraulic component market has been segmented into pump, motor, valve, cylinder, and others. The cylinder segment is expected to grow at a faster rate during the forecast period. In 2019, the cylinder segment held a share of 31.16% of the global hydraulic component market.
Based on application, the global hydraulic component market has been segmented as industrial and mobile. The mobile segment is expected to grow at the fastest rate during the forecast period. In 2019, the mobile segment held a share of 58.21% in the global hydraulic component market.
Based on end use, the global hydraulic component market has been segmented into construction, material handling, agriculture, automotive, oil & gas, and others. The construction segment is expected to grow at the fastest rate during the forecast period. In 2019, the construction segment held a share of 27.11% in the global hydraulic component market.
The Hydraulic Component Market market is projected to grow at a CAGR of 4.8% from 2018 to 2026.
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View Subscription PlansHydraulic equipment refers to the use of pressurized fluids to perform machining operations. The hydraulic system uses liquid (usually oil) to transmit power and has few advantages over electrical and mechanical. The hydraulic systems can easily produce linear motion using hydraulic cylinders whereas the electrical and mechanical methods require mechanical devices to convert rotational motion into linear motion. The hydraulic components operates with the help of a wide range of pumps, valves, filters, motors, and actuators. Materials that are used in hydraulic components include a vast variety of synthetics and metals. Titanium, steel, and stainless-steel alloys, woven wire, brass, and rubber are some of the materials that are used in extremely high-pressure systems. Furthermore, various plastics are used in tubing and valve fittings applications.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2019
Historical Period
2018 – 2018
Forecast Period
2020 – 2026
Primary Interviews
150+
Historical data (2018–2019) and forecast period (2019–2026)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global hydraulic component ecosystem consists of various global, regional, and local manufacturers and service providers that are evolving to enhance their market position. Moreover, intense competition and rapid advances in technology to cope with change are key factors that aid market growth. The service providers compete based on cost, warranty, and lifespan of the products to sustain in the market.
Vendors in the hydraulic component market are focusing on improving their products and expanding geographically into the underdeveloped and developing economies. Eaton Corp (US), Parker-Hannifin Corporation (US), Caterpillar, Inc. (US), Bosch Rexroth AG (Germany), and Wipro Enterprises (India) are the major companies in the market, which compete in terms of features, pricing, and reliability of their offerings.
The major players may strengthen their presence worldwide through the acquisition of local and regional players for expanding their services in those regions during the forecast period. The growing construction industry driven by accelerated industrialization in developing countries in Asia-Pacific is likely to fuel the market growth, thereby making it an ideal time to expand the hydraulic component market.
Eaton Corp. is one of the prominent players in the hydraulic components market, holding a 8.60% share in 2019. Eaton Corp offers a variety of products for the hydraulic components market. The company specializes in industrial brakes and clutches, connectors, dynamic machine control, hydraulic cylinders, hoses and hose fittings, pumps, hydraulic steering, valves, and variable speed drive pump solutions.
Parker-Hannifin Corporation held a share of 22.40% in 2019. Parker-Hannifin Corporation has expertise in motion and control technologies with a strong focus on research and development. The company offers cylinders, actuators, filters, separators, purifiers, pumps, motors, flow control equipment, valves, and thermal and power management equipment. It has been making developments in its hydraulics department by developing new products and actively participating in trade shows to showcase its developments. x
Bosch Rexroth AG, a part of Robert Bosch GmbH, is a prominent manufacturer of a large variety of hydraulic components. Bosch Rexroth AG held a market share of 11.21% in the hydraulic components market. The company focuses on industrial hydraulics, offering products such as accumulators, pumps, sensors and signal transmitters, and motors. Bosch Rexroth AG is focused on expanding its hydraulics products to include applications in the aerospace and naval sectors
Market estimates by geography (2026)
InsightAsia Pacific leads with $19.83B by 2026.
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View Subscription Plans| REGION | 2018 | 2019 | 2026 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $13.35B | $16.05B | $19.83B | 5.1% | 33% |
| South America | $3.49B | $4.02B | $4.76B | 4.0% | 8% |
| Europe | $9.51B | $11.33B | $13.88B | 4.8% | 23% |
| North America | $10.79B | $12.88B | $15.81B | 4.9% | 26% |
| Middle East and Africa | $4.42B | $5.17B | $6.22B | 4.3% | 10% |
| Total | $41.56B | $49.44B | $60.48B | 4.8% | 100% |
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View Subscription PlansTotal Market Size
$60.48B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Cylinder | $19.29B | 5.2% | 32% |
| Valve | $14.00B | 5.0% | 23% |
| Others | $12.25B | 5.1% | 20% |
| Pump | $9.58B | 4.1% | 16% |
| Motor | $5.36B | 3.8% | 9% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Hydraulic Component Market covering market dynamics, competitive landscape, and strategic outlook.
The Hydraulic Component Market market is projected to reach $60.48B by 2026, growing at 4.8% CAGR. The Cylinder segment holds the largest share.
The global market for hydraulic components is expected to grow at a steady rate during the forecast period due to the rising demand for hydraulic equipment in the construction industry and growing use in mining equipment. The growing focus on smart hydraulic cylinders and other systems would create opportunities for market players during the forecast period.
The global construction industry is experiencing growth due to high investment and to help manage the economic development of cities, states, and countries. As per the Census Bureau Report on construction spending in the US, annual rate estimates of 2019 were predicted for the year 2020 to be USD 1,345 billion. This was further readjusted to USD 1,369.2 billion to meet financial demands. This showed that there has been an increase in construction spending by the public and private sector of USD 1,022.7 billion and USD 346.5 billion, respectively. Despite the increase in construction costs in the US, infrastructure spending is expected to grow. Similarly, according to the National Investment Promotion & Facilitating Agency (India), revenue from the construction equipment industry is estimated to reach USD 5 billion by 2025. Hydraulic components are required on a large scale in wheel loader, telehandler, concrete boom truck, and excavator, among others. This would give rise to the installation of hydraulic equipment in the construction sites.
Moreover, in 2020, the Federal Aviation Administration (FAA) invested USD 840 million in infrastructure grants to 381 airports across the US. This would help in renovating aging airports and deteriorating runways in the country. The construction industry including the aviation industry requires a variety of hydraulic equipment to transmit power to various subsystems that require high force to operate. For instance, the hydraulic components in airports provide power to control surfaces, load the cargo, control landing gear, and move several other components. The hydraulic motor is used to power flaps and in landing gear applications.
Nowadays, the trend is towards automation and artificial intelligence in almost every industry, to reduce the human effort and bring modernization to improve the performance and efficiency of products and services. Therefore, highly integrated sensors and control capabilities are becoming increasingly essential in hydraulic applications. For instance, in April 2019, Weber-Hydraulik (Germany), a full-range supplier for hydraulic components, presented development ideas and solutions related to highly integrated sensors for hydraulic cylinders. These sensors would help to detect cylinder position and would include an electronic module for image processing and communication. Due to internal and external leaks, the hydraulic components are largely affected, hence, there is a need for automated products to increase the efficiency of hydraulic components. The development of smart hydraulic components including sensors, flow meters, and others would lead to flexibility and ease of installation. Continuous research and development are conducted on smart hydraulics, especially in mobile working machines that would help in conserving resources and reduce greenhouse gas emission which is the need of the hour. For instance, the National Fluid Power Association (NFPA) has conducted several research projects highlighting the improvement of energy efficiency of hydraulic systems and how the off-road vehicles driven by hydraulic components have a strong impact on global emissions.
Oil leakage in hydraulic components is a major issue that leads to dipping away of company profits with other factors such as more energy consumption, reduced performance of the equipment, decreased reliability, and increased costs of the fluid. Internal leakage in hydraulic components also results from power system design and poor quality control tolerances during the manufacturing of the hydraulic components. In hydraulic valves, excessive leakage results in decreased stability of the hydraulic circuits. Similarly, in hydraulic cylinders, excessive leakage is the result of the fluid bypassing a piston through a worn seal or cylinder barrel. This would restrict the growth of the global hydraulic component market. The leakage also leads to high maintenance/replacement costs. For instance, companies spend thousands of dollars to replace the rop-up fluids, thereby impacting the company profits. Replacement cost is five times more than the cost of new fluid. However, nowadays, companies install flow meter on the case drains of the motors and pumps to detect the problem and determine the overhaul of the components before the entire performance is severely affected.
This electronic approach replaces the mechanical and electromechanical systems for controlling and monitoring hydraulics in mobile machinery. For instance, Parker Hannifin (US), one of the leading manufacturers of hydraulic components developed EQA Ecoformance electric flow amplifier technology that combines smart hydraulic and electronic products, resulting in next-generation connectivity. This product is an advancement in load sensing valves that is useful for functions with jib movements and digger arms with over-center movement.
Nowadays, modern industrial machinery is creating a high demand for hydraulics to provide efficient solutions with the high power density and enduring performance of machines. These conventional hydraulic power units typically require oversized pumps and motors to ensure performance. However, due to the global target of reducing emission and conserving energy, drive controlled pump technology is a recent solution that would address the problems of more demanding applications with a rise in energy cost and more environmental requirements.
The hybrid actuation solution combines the controllability of electromechanical actuators with the power density and resistive force capabilities. This hybrid system would have higher efficiency and the ability to move over a megawatt from a single point. This would be suitable for applications such as those used with solar panels, hydroelectric dams, and wind turbines.
The International Organization for Standardization (ISO) is a worldwide federation of national standard bodies that provides regulatory standards for hydraulic and pneumatic components. The formal standardization of hydraulic components began in the early 1950s with the help of the Joint Industrial Council, with ISO 4413 and 4414 standards for stationary hydraulic and pneumatic equipment. These two standards were updated in the year 2010 including safety-related provisions.
• The ISO 4413 expanded further with the addition of mobile equipment.
• The ISO 4413 was integrated with the US national preferences and practices of the National Fluid Power Association (NFPA).
• ISO 4413 and 4414 help in the risk assessment guide by providing a list of hazards and rules. The hierarchy of risk assessment must be followed
• These standards also contain component and system guidance for improved system efficiency
• Similarly, the Hydraulic Institute (HI) has updated the year 2000 edition of the HI standard on sealless centrifugal pumps. It provides the users with necessary information on the features and benefits of sealless pumps.
• Furthermore, ISO 4391 is developed for fluid power systems. The member countries following these standards include Australia, Austria, Belgium, Bulgaria, Canada, Chile, France, Finland, Germany, India, Italy, Japan, Norway, the Netherlands, Sweden, Spain, Poland, Romania, and others.
• ISO 5597 establishes a range of nominal dimensions for a series of hydraulic cylinder rod and piston rods for reciprocating applications. This standard is for cylinders of 16 mm to 500 mm and rods of 6mm to 450
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Profiles of 109 companies operating in the Hydraulic Component Market market, including revenue, employee count, and market positioning where available.
Showing 109 of 109 companies
Parker-Hannifin is the world's largest pure-play motion-and-control technology company, combining eight interconnected core technologies — hydraulics, pneumatics, electromechanical, filtration, fluid and gas handling, process control, engineered materials and climate control — across two reportable segments: Diversified Industrial (67% of FY2026 sales) and Aerospace Systems (33%). The company sells hundreds of thousands of part numbers, none above 1% of sales, through OEM channels and a global distributor network serving several hundred thousand customer locations. Its decentralized operating model is run through "The Win Strategy™ 3.0", a business system credited with lifting adjusted segment operating margin from 22.3% (FY2022) to a record 27.3% (FY2026). Portfolio transformation — CLARCOR (2017), LORD and Exotic Metals (2019), Meggitt (2022), Curtis (2025), Filtration Group (2026) and the pending CIRCOR Aerospace deal — has shifted the mix toward aerospace, aftermarket and longer-cycle, higher-margin revenue. Management targets 30% adjusted segment margins by FY2031. --- ### What the company does — company description In its FY2026 Form 10-K, Parker describes itself as a global leader in motion and control technologies that uses a combination of interconnected technologies to design, manufacture and provide aftermarket support for highly engineered solutions, principally for aerospace and defense, in-plant and industrial equipment, transportation, off-highway, energy, and HVAC and refrigeration markets. The company emphasizes a decentralized operating structure intended to deepen customer relationships and team-member engagement, governed by The Win Strategy (goals: Engaged People, Customer Experience, Profitable Growth, Financial Performance) and anchored by the purpose statement "Enabling Engineering Breakthroughs that Lead to a Better Tomorrow". [Filing: FY2026 10-K, Item 1] ### Reportable segments and market verticals [Filing: FY2026 10-K] ### Business and revenue model **Product vs. service vs. subscription vs. licensing mix.** Parker's revenue is overwhelmingly product revenue, recognized mostly at a point in time on shipment; a portion (largely aerospace development and long-production contracts) is recognized over time using cost-to-cost, efforts-expended or units-of-delivery methods [Filing: FY2026 10-K, Critical Accounting Policies]. The company does not disclose a numeric product/service/subscription/licensing split — not publicly disclosed. Repair, overhaul and spares in Aerospace Systems function as a service-like aftermarket annuity, and distributor-channel replacement parts in Diversified Industrial play the same role, but the aggregate aftermarket percentage for Parker as a whole is not disclosed in the filings reviewed. Disclosed indicators of aftermarket intensity include: Filtration Group derives ~85% of its sales from aftermarket replacement, and the deal lifts Parker Filtration's aftermarket share by ~500 bps [Filing: FGC press release, 11 Nov 2025]; Aerospace FY2026 Q3 aftermarket sales grew 14% with commercial OEM up 22% [Filing: Q3 FY2026 release]. **Value-chain position.** Parker is a Tier-1/Tier-2 component and subsystem supplier. In aerospace, it holds sole-source positions on airframe and engine programs (flight control, fuel, hydraulic, braking, thermal, inerting and fire-protection systems) from which it earns decades of follow-on spares and repair revenue. In industrial markets, it supplies engineered components (fittings, hose, valves, pumps, seals, filters, actuators, controls) into OEM equipment and services the installed base through distributors. **Customer types.** OEMs (aircraft and engine makers, machinery, truck, agricultural, construction, semiconductor-equipment, HVAC/R and energy-equipment builders), airlines and MRO providers, defense agencies and primes (including the U.S. government, which brings ITAR, EAR and CMMC obligations), and independent distributors. No single product exceeds 1% of sales [Filing]. **Pricing.** Management describes value-based pricing ("priced by the value they deliver") as a strategic objective [Filing: FY2026 10-K MD&A]. List-price or contract-pricing models are not publicly disclosed. ### Independent characterization Parker is best understood as a compounder of engineered-component franchises that uses a common operating system (Win Strategy, lean, Simple-by-Design, high-performance teams, "local-for-local" supply) to raise margins of acquired businesses. Since FY2022, three structural shifts are visible in the numbers: (1) aerospace mix has risen from 15.9% of sales (FY2022) to 32.8% (FY2026), with Aerospace now the highest-margin segment (26.0% reported, 29.9% adjusted); (2) margin step-change — total adjusted segment operating margin up 500 bps in four years; and (3) cash generation — FCF margin up from 13.9% to 18.2%. The FY2027 portfolio (with Filtration Group, Curtis and, if closed, CIRCOR Aerospace) will be more aftermarket-weighted and less exposed to the short-cycle North American industrial base that drove three years of flat-to-negative organic growth in FY2024–FY2025.
Caterpillar Inc. was founded in 1925 through the merger of Holt Manufacturing Company and C.L. Best Tractor Co. and is incorporated in Delaware with global headquarters in Irving, Texas. The company operates as a publicly traded corporation on the New York Stock Exchange and maintains manufacturing, sales, and service operations across more than 190 countries. Within the heavy equipment and utility vehicles market, Caterpillar organizes its business into three primary segments — Construction Industries, Resource Industries, and Energy & Transportation — each of which directly addresses demand for large-scale machinery, off-highway vehicles, and utility-grade equipment deployed in construction, mining, quarrying, and infrastructure development worldwide. Caterpillar's core product portfolio in the heavy equipment and utility vehicles market spans crawler and wheel dozers, hydraulic excavators, motor graders, articulated and off-highway trucks, wheel loaders, backhoe loaders, skid steer loaders, compact track loaders, and telehandlers. The company also produces a broad range of utility vehicles including small dozers and compact construction equipment marketed under the Cat brand. Caterpillar competes directly with Komatsu, Volvo CE, Deere & Company, and CNH Industrial across these categories. Its dealer network — comprising approximately 160 dealers operating roughly 2,900 dealer locations globally — provides a distribution and aftermarket parts advantage that sustains machine uptime and customer retention at scale. Caterpillar's recent strategic direction in the heavy equipment and utility vehicles market centers on electrification, autonomy, and digital connectivity. The company has advanced its Cat® Command autonomous haulage and dozing systems, which are deployed commercially at mining and large construction sites. Caterpillar announced a partnership with Luck Stone in 2023 to deploy autonomous Cat 777 trucks at quarry operations, demonstrating commercial traction for autonomous utility vehicles beyond mining. The company also continues to invest in battery-electric and hydrogen-ready machine platforms, having unveiled the Cat 301.9 electric mini excavator and the Cat 320 electric excavator for urban construction applications, positioning itself ahead of tightening emissions regulations in Europe and North America. Caterpillar reported full-year 2024 revenues of $64.8 billion, with the Construction Industries segment generating approximately $21.6 billion and Resource Industries contributing approximately $11.5 billion, underscoring the company's dominant revenue base within heavy equipment end markets. Key customer segments include large mining operators such as BHP, Rio Tinto, and Freeport-McMoRan for high-tonnage haul trucks and dozers, as well as major civil infrastructure contractors and government-funded highway and utility construction programs globally. Caterpillar held an estimated 15–18% share of the global construction equipment market by revenue as of 2024, making it the largest single manufacturer in the sector by most industry measures
Company Headquarters: South Korea Founded: 2014 Workforce: ~387 Company Working: DY Power Corp. manufactures hydraulic cylinders and heavy-duty equipment for the construction and heavy industry markets. Some of the products offered by the company include dozers, center joints, arms, booms, buckets, and outriggers for excavators, rotary actuators, extensions and booms for aerial lifts, free lifts, side shifts, tilts and power steering for forklifts, buckets for wheel loaders, booms, buckets and dippers for backhoe loaders. Dy Power Corp operates in the US, Europe, Asia-Pacific, and other regions.
Company Headquarters: Japan Founded: 1948 Workforce: ~14,500 Company Working: KYB Corporation manufactures and sells shock absorbers, hydraulic equipment, and system products. It operates through the following segments: Automotive Components, Hydraulic Component, System Products, and Others. The Automotive Components segment includes front forks, oil cushion units, stay dampers, shock absorbers, suspension systems, power steering systems, vane pumps, and locks. The Hydraulic Component segment consists of cylinders, valves, oil dampers, shock absorbers, pumps, motors, and aircraft systems. The System Products segment produces simulators, stage, and auditorium control systems. The others segment is composed of environmental equipment, electronics, simulators, specially-equipped vehicles, concrete mixer trucks, naval equipment, and hydraulic systems.
Company Headquarters: US Founded: 1910 Workforce: ~4,700 Company Working: Enerpac Tool Group Corp. is a diversified industrial company. The firm is involved in the designing, manufacturing, and distribution of a wide range of industrial products and systems for a diversified range of markets. It operates through the segments of Industrial Tools and Services and Engineered Components and Systems. The Industrial Tools and Services segment supplies products and services to end markets such as industrial machinery, energy and power, mining, and automation markets. The Engineered Components and Systems segment operates in critical system positions and motion control systems, ropes, cables, and other customized industrial components for various vehicles, construction, agricultural and other markets.
Company Headquarters: Italy Founded: 2015 Workforce: ~1000 Company Working: ASO H&P is a leading manufacturer of hydraulic & pneumatic components. The company’s products include chrome-plated steel bars, chrome-plated steel tubes, skived and roller burnished/honed tubes plus precision linear shafts. ASO H&P’s product lines include A-Tube, A-Chrome, A-Line, A-Ground, and A-Nichem. The company has sales operations in over 84 countries.
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
