A lead analyst at AMR highlighted that the Europe industrial hydraulic power unit market in UK is anticipated to grow at the fastest CAGR during the forecast period.
Allied Market Research published a research report on the Europe industrial hydraulic power unit market. The findings of the report states that the global market for Europe industrial hydraulic power unit generated $2.8 billion in 2019, and is anticipated to generate $4.1 billion by 2027, witnessing a CAGR of 6.3% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Increase in the number of industrial activities, rapid urbanization, and extensive applications of HPUs for food processing machinery are expected to drive the growth of the Europe industrial hydraulic power unit market. On the other hand, availability of alternate sources of power transfer is expected to hinder the growth to some extent. However, persistent technological advancements are expected to create remunerative opportunities for the industry.
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“The growing industrial activities and advancements in robotics & automation has led the growth for Europe industrial hydraulic power unit. However, the pandemic outbreak enforcing second lockdown in several countries of the region and availability of alternatives may restrain market growth,” says Eswara Prasad, Manager, Energy & Power at Allied Market Research.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the Europe industrial hydraulic power unit market. The outbreak of COVID-19 has had a devastating impact on the growth of the Europe industrial hydraulic power unit market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of various manufacturing facilities, including those of industrial hydraulic power unit, which negatively impacted its demand during the pandemic. Besides, reduced workforce in the industries also had an impact on the market. This was majorly due to the stringent social distancing restrictions imposed by the government to curb the spread of the virus during the pandemic. However, the market is expected to recoup soon.
The report offers a detailed segmentation on the Europe industrial hydraulic power unit market based on industrial application, components, operating pressure rate, and country.
Based on industrial application, the cutting application segment held the largest market share in 2019, holding more than one-fourth of the global market. The plastic and rubber application segment, on the other hand, is expected to cite the fastest CAGR of 6.9% during the forecast period.
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Based on component, the auxiliary component segment held the dominating market share in 2019, garnering a significant market in the global market. The power components segment, on the other hand, is expected to cite the highest CAGR during the forecast period.
Based on country, Germany held the lion’s share in 2019, holding a remarkable share in the global market. UK, on the other hand, is expected to grow exponentially at a significant CAGR during the forecast period.
The key players analzyed in the Europe industrial hydraulic power unit market report include Brevini Fluid Power S.P.A, Danfoss, Eaton Corporation, Emerson Electric Co., Festo, Hydac International GmbH, Robert Bosch, Sick Holding GmbH, SOMI srl GmbH, and Weber Hydraulik GmbH.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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