How big is the market for China's hydraulic industry?

Date:18 Sep 2020

In recent years, with the vigorous development of refor […]

In recent years, with the vigorous development of reform and opening up and the efforts of generations of Chinese people, China's hydraulic technology has developed rapidly, and its product applications have been extremely widespread, and it has formed a relatively complete category, with considerable production strength and technical level, and An industrial system with economic scale. In addition, many hydraulic brand enterprises that rank high in the world and are quite influential and competitive have even been born. According to statistics, after entering the 21st century, there are more than 1,000 production enterprises of a certain scale in my country's hydraulic industry, of which more than 100 are major enterprises. This undoubtedly confirms the development status of China's hydraulic industry. So in that case, how big is the future market scale of my country's hydraulic industry?

First of all, it is certain that the global hydraulic component market is still maintaining steady growth, and China is developing fastest. According to ISC statistics, the global hydraulic products market reached 28.2 billion euros in 2016, an increase of 66% from the 17 billion euros in 2000, with an average annual compound growth rate of more than 3%. The demand for hydraulic products in China is growing the fastest, and the market position is significantly improved. From 2000 to 2016, the domestic hydraulic market rapidly expanded from 500 million euros to 7.9 billion euros (approximately RMB 60 billion). The absolute scale increased by more than 14 times, and its share of the global market increased from 3% to 28%. After the United States, it ranks second in the world.

From the perspective of the import and export situation of my country's hydraulic industry, in recent years, the import scale of my country's hydraulic products has declined year by year, and the export scale has gradually increased. Obviously these two aspects mean that China's hydraulic industry has a broad incremental market and good development opportunities.
The future of China's hydraulic industry market may not have the most accurate data to show intuitively, but from the perspective of several industry classifications and supply demand markets in China's hydraulic market, the development prospects are huge, even beyond imagination.More about:hydraulic fittings manufacturers