The Global Hydraulics Market Research Report added by Emergen Research to its expanding repository is an all-inclusive document containing insightful data about the Hydraulics market and its key elements. This ensures smooth functioning of the equipment and makes it possible to predict equipment maintenance. The incorporation of electronics and software into hydraulics systems can aid in providing smarter solutions and this is can result in increasing trend of automation and connected devices. The trend to adopt smart hydraulic equipment in industrial automation is gradually increasing which is prompting the manufacturers to develop and launch new technologies in the market.
In August 2021 for instance, Hytec South Africa (RF) (PTY) Ltd., which is a South Africa-based company, developed Smart Inspection App for hydraulic systems. The Smart Inspection App allows hydraulic system inspection and service reports to be completed on a cell phone or tablet and emailed in real-time to the appropriate maintenance or section engineer.
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The global Hydraulics market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Hydraulics market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Leading companies profiled in the report:
On 11 May 2022, a US-based technology company − RISE Robotics collaborated with Danfoss Power Solutions, which is a leading global supplier of mobile and industrial hydraulics, in order to validate the most recent electromechanical actuator technology. This collaboration will help both the companies to prioritize innovation and seek new ways to meet the ongoing demand for electrification solutions from current and prospective customers.
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Market in North America is expected to register significantly fast revenue growth rate during the forecast period. This can be attributable to rising number of construction activities in residential and commercial sectors as well as infrastructural developments in countries in the region, which is creating high demand for hydraulics equipment. In addition, use of hydraulics equipment in mining activities is expected to support revenue growth of the market in the region.
Emergen Research has segmented the global hydraulics market on the basis of component, type, end-use, and region:
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