Portland, OR, March 03, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hydraulic tools market was estimated at $1.56 billion in 2018 and is expected to hit at $2.34 billion by 2026, registering a CAGR of 5.9% from 2019 to 2026. The report provides an in-depth analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and wavering market trends.
Development of the global construction sector, and rapid industrialization coupled with increase in infrastructural spending drive the growth of the global hydraulic tools market. On the other hand, high cost of hydraulic cylinders as compared to pneumatic cylinders curtails down the growth to some extent. However, rise in demand for material handling equipment is expected to create an array of opportunities in the industry.
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Hydraulic cylinder and jack segment to lead the trail by 2026-
Based on type, the hydraulic cylinder and jack segment contributed to nearly two-fifths of the total market share in 2018, and is projected to maintain the lion’s share from 2019 to 2026. The tension and torque tools segment, on the other hand, would register the fastest CAGR of 5.9% throughout the forecast period. The segment of hydraulic rescue tools is also assessed in the report.
The industrial manufacturing segment garnered the major share in 2018-
Based on end-user, the industrial manufacturing segment accounted for more than half of the total market revenue in 2018, and is expected to dominate during 2019–2026. The same segment would also grow at the fastest CAGR of 5.6% during the estimated period. The other segments discussed in the market report include oil, gas and petrochemical, utility, and railway.
North America to rule the roost by 2026-
Based on region, North America held the major share in 2018, generating nearly two-fifths of the global market. At the same time, the region across LAMEA is anticipated to cite the fastest CAGR of 6.7% through 2026. The other two regions analyzed in the report include Asia-Pacific and Europe.
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Leading market players-
The key market players analyzed in the global hydraulic tools market report include Atlas Copco AB, Cembre Inc., IDEX Corporation, SPX Flow, Kudos Mechanical Co., Ltd., Textron Inc., Actuant Corporation, HTL Worldwide Ltd., Shinn Fu, and Hi-Force. These market players have adopted a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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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 domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.