India hydraulic equipment market is estimated to grow at a CAGR of 6.2% during the forecast period. Growth in the construction and mining industry is one of the factors accelerating market growth. As per the India Brand Equity Foundation (IBEF), India produces 23 non-metallic minerals, 95 minerals 4 fuel-related minerals, 55 minor minerals (including building and other minerals), 10 metallic minerals, and 3 atomic minerals. Non-metallic minerals include coal, limestone, mica, dolomite, phosphate, gypsum, and others. India is the third-largest producer of coal. In India, coal production stood at 729.10 million tonnes (MT) in 20 and reached 304.88 MT in 2021 (as of October 2020). This, in turn, is driving the demand for hydraulic equipment that is extensively utilized all over the mining industry across several applications. Several kinds of hydraulic equipment used in the mining industry include draglines, wheel dozers, electric rope shovels, conveyors, hybrid shovels, blasthole drills, mobile mining crushers, and more. 

The market is segmented based on type, product, and end-user industry. Based on type, the market is classified into mobile hydraulics and industrial hydraulics. Based on the product, the market is classified into motors and pumps, valves, cylinders, and others. Based on the end-user industry, the market is classified into construction and mining, agriculture, oil and gas, automotive, aerospace and defense, and others. Growth in oil and gas production is expected to further accelerate market growth. As per the India Brand Equity Foundation (IBEF), crude oil production in India stood at 30.5 million metric tonnes (MMT) in 2020. Hydraulic equipment is one of the most important elements associated with the offshore industry and is normally located where spillage or leakage can escape into marine settings.

Some key players operating in the market include Bosch Rexroth AG, Danfoss A/S, Linde Hydraulics GmbH & Co. KG, Daikin Industries, Ltd., and Kawasaki Heavy Industries, Ltd. The market players are using some key strategies to increase their market share. For instance, in February 2019, Kawasaki Heavy Industries, Ltd. declared that a new plant had been completed at Wipro Kawasaki Precision Machinery Pvt Ltd., which produces, sells, and offers after-sales services for hydraulic equipment for the construction industry in India. Owing to the emerging demand for hydraulic excavators in India, the company decided to build this plant in Bengaluru, along with a current plant in the same city. The strategy reflects the company’s commitment to fulfill the demand for hydraulic equipment utilized by local construction machinery manufacturers and to generate new demand.

Research Methodology

The market study of the India hydraulic equipment market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. India Hydraulic Equipment Market Research and Analysis by Type
2. India Hydraulic Equipment Market Research and Analysis by Product
3. India Hydraulic Equipment Market Research and Analysis by End-User Industry

The Report Covers

• Comprehensive research methodology of the India hydraulic equipment market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the India hydraulic equipment market.
• Insights about market determinants which are stimulating the India hydraulic equipment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.