November 02, 2023 10:43 ET | Source: Research and Markets Research and Markets
Dublin, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The "Hydraulic Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering. hydraulic pump spare part
The global hydraulic motors market achieved a size of US$ 11.8 billion in 2022 and is expected to reach US$ 15.6 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 4.6% during the period from 2023 to 2028, according to a recent market report.
Hydraulic motors are mechanical actuators powered by pressurized hydraulic fluid, converting hydrostatic energy into mechanical energy. They function by driving pistons, vanes, or gears attached to a crankshaft, generating torque and rotation.
Hydraulic motors are known for their advantages, including low sensitivity to oil pollution, high rotational capacity, easy controllability, flexibility, and cost-effectiveness. They find applications in various industries, such as petrochemicals, aerospace, chemical, marine, oil and gas, as well as in machinery like mixers, self-driven cranes, rollers, drilling rigs, excavators, and conveyors.
The global hydraulic motors market is experiencing growth due to the widespread adoption of hydraulic motors across various industrial sectors. Industries such as petrochemicals, aerospace, chemical, marine, and oil and gas are increasingly using hydraulic motors to optimize manufacturing processes.
Significant technological advancements and innovative approaches by manufacturers to maximize output while reducing overhead costs are also contributing to market growth. Additionally, government initiatives to strengthen industrial infrastructure and minimize operational costs and capital expenditures are driving market growth.
Hydraulic motors are extensively used in on-shore and off-shore oil exploration activities, as well as in the agriculture sector for hydrostatically powered wheel motors. The growth in construction activities and infrastructure development worldwide is further boosting the market.
The report provides insights into key market segments based on type, speed, and application.
The competitive landscape of the hydraulic motors industry features key players such as Bezares SA, Bosch Rexroth AG (Robert Bosch GmbH), Bucher Hydraulics GmbH (Bucher Industries AG), Danfoss A/S, Eaton Corporation PLC, Hydro Leduc, Kawasaki Heavy Industries Ltd., M + S Hydraulic PLC, Maha Hydraulics Private Limited, Mitsubishi Heavy Industries Ltd., Parker-Hannifin Corporation, Permco Inc., Rotary Power, and VELJAN Hydrair Private Ltd.
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/13cfvu
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