High-pressure Hydraulic Tools Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Albany, NY -- (SBWIRE) -- 05/20/2019 -- Hydraulic tools are equipment that use power of a fluid or liquid to perform a function. Hydraulic tools are used extensively in various industries for bending, spreading, punching, cutting, and other industrial requirements. In general, a hydraulic system consists of the following components: the fluid, a reservoir, a pump, an actuator, and valves. High-pressure hydraulic tools are used in rescue and fire protection operations. Hydraulic rescue tool systems are of two types: low-pressure systems and high-pressure systems. Low-pressure hydraulic tools operate under a pressure of 5,000 psi (pound per square inch), while high-pressure hydraulic tools operate under a pressure of more than 10,000 psi. Low-pressure hydraulic tools weigh more than high-pressure hydraulic tools. Low-pressure hydraulic tools provide greater accuracy than high-pressure hydraulic tools.
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Across the world, rise in manufacturing and industrial production is fueling the demand for high-pressure hydraulic tools. Growth of various end-use industries, such as heavy engineering, aerospace & defense, shipbuilding & repair, mining, railways, sugar refineries, paper mills, aluminum & steel plants, and power generation, is augmenting the demand for high-pressure hydraulic tools across the globe. High-pressure hydraulic tools are extensively used for creating holes in steel and copper bars, punching in metal sheets, and perpendicular cutting for railway applications. Increase in these applications across the world is boosting the global demand for high-pressure hydraulic tools.
Based on product, the global high-pressure hydraulic tools market can be segmented into cutters, punches, spreaders, and others (such as nut splitters and pipe benders). In terms of end-use industry, the global high-pressure hydraulic tools market can be divided into manufacturing, oil, gas and petrochemical, transportation, rescue and fire protection operations, and others. Based on distribution channel, the global high-pressure hydraulic tools market can be classified into online and offline.
In terms of region, the global high-pressure hydraulic tools market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to be a prominent market for high-pressure hydraulic tools during the forecast period. The U.S. is expected to account for a major share of the market in North America from 2019 to 2027, followed by Canada. Europe held a considerable share of the global high-pressure hydraulic tools market. Germany, the U.K., and France are major markets in the region. Asia Pacific is anticipated to be a notable market for high-pressure hydraulic tools during the forecast period.
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China is expected to be a major market for high-pressure hydraulic tools not only in Asia Pacific but also across the world in the near future. In India, the "Make in India" initiative is increasing the manufacturing output in India. Rise in manufacturing along with construction projects in transportation sector such as railways are increasing the demand for high-pressure hydraulic tools across the manufacturing sector and this demand is expected to grow in future. Japan, and South Korea are other major markets for high-pressure hydraulic tools in Asia Pacific. GCC is projected to account for a major share of the high-pressure hydraulic tools market in Middle East & Africa during the forecast period. South Africa is a notable market for high-pressure hydraulic tools in Middle East & Africa. The high-pressure hydraulic tools market in South America is estimated to expand at a moderate pace during the forecast period. Brazil is a prominent market for high-pressure hydraulic tools in South America and the trend is likely to continue during the forecast period also.
Major companies operating in the global high-pressure hydraulic tools market are Actuant Corporation (Enerpac), Atlas Copco North America LLC, SPX Flow, Kudos Mechanical Co. Ltd., Emerson Electric Co. (Greenlee), HTL Group, SFT Corporation (BVA), Hi-Force, Cembre S.p.A., and Bosch Rexroth South Africa.
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