Fluid power systems are vital to society and can be found in more places than you realize. From cooling systems in vehicles to empowering robotic arms in automated facilities, fluid power systems can be seen in almost any industry or application. While the market continues to grow, there are vital areas drawing attention as needs change.
The areas of global market growth
Despite inflation increasing costs worldwide, the hydraulics industry has shown promise in staying strong. As a result, the global hydraulic equipment market is expected to grow by $16.28 billion from 2022 to 2026, accelerating at a CAGR of four.
The most significant drivers are the expansion of process manufacturing, the demand for material-handling equipment and any ongoing construction projects. The need for construction machinery is rising due to increased investments in infrastructure projects worldwide. Additionally, various governments are investing in developing sports infrastructure and facilities.
Reaching new heights in supply chain management
Manufacturers are examining their supply chain vulnerabilities to better prepare for potential problems. However, to build the necessary resilience and flexibility to compete in today’s world, they must innovate and restructure efforts to ensure business continuity. To do this, technological advancements are being adopted at a rapid pace, and they are causing much growth in specific sectors. 
Real-time statistics are crucial in detecting problems that may arise to allow ample time to create a solution. Fluid power systems often deal with hazardous materials, such as gas, chemicals and oil; therefore, timeliness and accuracy are crucial to managing today’s supply chain.
The adoption of industrial automation
More than ever, there is a higher demand for intelligent hydraulics equipment influenced by technological developments. The advent of integrated Industry 4.0 with the Internet of Things (IoT) is one of the trends to watch, as this is an opportunity to improve operations and reduce energy costs. In addition, the data collected can be stored in the cloud, enabling analysis for better decision-making and automating material-handling processes.
Electronics used for intelligent mobility and sensors to collect data have become more commonly used in hydraulic equipment. As a result, these new technologies and innovative solutions have many industries experiencing much growth. For example, this can be seen in the automotive industry, which has experienced a 10-fold increase.
The UK’s focus on construction
The introduction of hydraulics into the construction sector has drastically increased productivity, thereby making it a focus in the UK. As a result, the volume of construction output is forecasted to rise 2.2 percent in 2023. So, while inflation and rising energy costs from Russia’s invasion of Ukraine will likely weigh on construction demand, the sector is still projected to grow. Most of the activity is determined by projects down on the ground or in the pipeline with contracts awarded.
Infrastructure specifically was forecasted to add the most value in 2022, along with an output forecasted to rise by 4.6 percent in 2023. Additionally, prospects in, private housing (the most significant construction sector), remain cautiously optimistic, with production expected to grow by 1.0 percent in 2023.
The reason for this growth is the optimization of construction processes, which has improved by integrating hydraulics for a more precise motion. The equipment functions on a pressurized fluid and acts on every part of its holding vessel, creating the necessary force or power. The new precision makes it easier to increase efficiency and productivity, getting more construction work done in a specific amount of time.
In summary
While the world faces many uncertainties, you can count on one thing for sure – the hydraulics market is only growing. Different indicators within the industry and its partners have given researchers reason to expect this strong growth. By staying up on technological advancements and what is keeping the UK’s economy going, you will be well on your way to staying up on the most common areas of growth.
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