The Fluid Power Industry has evolved comprehensively over the last century and has generated intensive research, efficient production systems and integrated applications.
Fluid Power industry has three large segments: Mobile Hydraulics, Industrial Hydraulics and Pneumatics. Historically, the Mobile Hydraulic segment has been the largest, accounting for about 50% of total Fluid Power sales. The Industrial Hydraulic and Pnuematic segments are nearly the same size, each with about 25% of total Fluid Power sales.
The major sectors in which fluid power finds applications are:
- Construction and Mining Equipment
- Industrial Process Equipment & Control
- Aerospace & Defence
- Steel plants
- Marine equipment
- Machine tools
- Textile machinery
- Material handling equipment
Fluid Power Industry by number:
The Fluid Power Industry is a $25 billion industry globally. The USA is the largest player with share of $11.5 billion, folowed by Germany, Italy and Japan.
The Indian Fluid Power Industry is worth $1 billion, of the total Indian Fluid Power market of Rs. 6000 Crores, the Pneumatic sector accounts for approximately 1600 Crores. However, there is a large unorganised sector comprising of over 30% of the market share.
Recent trends in the Fluid Power Industry show massive global waves of consolidation / acquisition / mergers as companies aim to offer a broader range of Fluid Power Products and Solutions. Customers too want a “Total Fluid Power Package of Components / Systems”.
The industry had two remarkable periods of growth in the last 14 years. The average annual growth rate between 1987 and 1990 was 9.5%. Between 1993 and 1995, annual growth averaged 12%. These high rates resulted primarily from growth in existing markets, but the introduction of electrohydraulic and electropneumatic technologies opened up new market, such as active suspension on automobiles and reestablished the industry in older markets, such as robotics, that had been lost to exclusively electronic technology in the early 1980’s.
Currently the industry is experiencing growth as much as 20% aided by the huge demand for Construction Equipment in the Infrastructure Projects and robust growth in the other sectors.
The Fluid Power Industry will continue to witnessremarkable growth in the coming years due to strong demand for equipment in the infrastructure sector.