Expanding Mobile Hydraulic Equipment Market Grosses USD 58.4 Billion by the Year 2034

The mobile hydraulic equipment market is witnessing a significant transformation, with a growing emphasis on sustainability and technological advancements. This shift is driven by environmental regulations, the global push towards sustainability, and the increasing demands from the construction and agriculture industries.

In 2023, major players like Doosan, Caterpillar, and CNH Industrial launched innovative products that reflect this change. Doosan introduced the DX140 Electric Excavator, featuring advanced hydraulic controls for zero-emission operations. Caterpillar unveiled the Cat 320 Hydraulic Excavator, boasting improved fuel efficiency, reduced emissions, and enhanced hydraulic systems for better performance in heavy-duty applications. CNH Industrial, on the other hand, introduced the New Holland T7 Heavy Duty Tractor, designed for precision farming in agricultural machinery.

The construction sector leads as the primary end-user, holding a 42.2% stake in the market. Construction vehicles dominate the application segment with a 41.2% market share. This dominance is partly due to the increasing demands from the construction and agriculture industries, urbanization, and infrastructural developments globally.

Pumps command a 31.2% share in the mobile hydraulic equipment market. Companies like Grundfos and Daikin have developed innovative solutions to improve energy efficiency and sustainability in hydraulic systems. Grundfos introduced solar-powered pump systems, while Daikin launched a new series of low-noise hydraulic pumps for construction machinery, aiming to reduce noise pollution and improve energy efficiency in urban construction sites.

Technological advancements are enhancing the efficiency and environmental sustainability of hydraulic systems, making them more appealing to a wide range of industries. There is an increased adoption of automated and smart hydraulic systems that integrate advanced sensor and control technologies. Bucher Hydraulics, for example, introduced smart hydraulic systems integrated with IoT for real-time monitoring and predictive maintenance in 2023, targeting the mobile equipment sector.

The industry is also seeing the integration of Internet of Things (IoT) technology, enabling predictive maintenance and remote monitoring. This technology is crucial in maintaining the efficiency and longevity of mobile hydraulic equipment.

The Global Mobile Hydraulic Equipment Market is projected to reach USD 58.4 billion by 2034. In North America, the market holds 46.8%, valued at USD 15.1 billion. The market was valued at USD 32.3 billion in 2024. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.1% from 2025 to 2034.

Companies like Voith, Moog Inc., and others have showcased their commitment to sustainability by developing innovative solutions. Voith, for instance, introduced autarkic hydraulic press drives including the Servo Hybrid PSH developed jointly with Siemens. Moog Inc. showcased new generations of hydraulic and electrohydraulic systems with patented pump designs at K 2025.

In conclusion, the mobile hydraulic equipment market is undergoing a significant transformation, driven by the need for sustainability, efficiency, and technological advancements. The market is expected to continue growing robustly, driven by the increasing demands from the construction and agriculture industries, urbanization, and infrastructural developments globally.

Expanding Mobile Hydraulic Equipment Market Grosses USD 58.4 Billion by the Year 2034