The study involved four major activities in estimating the current size of the hydraulics market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. To validate these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Finally, both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to identify and collect information relevant to this study. The secondary sources include annual reports, press releases, and investor presentations of companies; white papers, certified publications, and articles from recognized authors; directories; and databases. Secondary research has been mainly conducted to obtain key information about the industry’s supply chain, value chain of the market, the total pool of key players, market classification and segmentation according to industry trends, geographic markets, and key developments from both market- and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain the qualitative and quantitative information relevant to this report. Primary sources from the supply side include experts such as CEOs, VPs, marketing directors, technology and innovation directors, application developers, application users, and related executives from various key companies and organizations operating in the hydraulics ecosystem. Following is the breakdown of primary respondents:
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Market Size Estimation
Both the top-down and bottom-up approaches have been used to estimate and validate the size of the overall hydraulics market and the market based on segments. The research methodology used to estimate the market size has been given below:
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Major players operating in the hydraulics market have been identified and considered for the report through extensive secondary research.
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The supply chain and market size of the hydraulics market, both in terms of value and units, have been estimated/determined through secondary and primary research processes.
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All estimations and calculations, including percentage share, revenue mix, splits, and breakdowns have been determined through the use of secondary sources which are further verified through primary sources.
Global Hydraulics Market Size: Bottom-Up Approach
Global Hydraulics Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall market size from the market size estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides of the hydraulics market.
Market Definition
Hydraulics is defined as the mechanical function that operates through the force of liquid pressure. In hydraulic systems, mechanical movement is performed by contained, pumped liquid, typically through cylinders moving pistons. Hydraulics enables the operator to accomplish tasks such as turning a shaft, lifting heavy loads, and drilling precision holes. It finds applications in both industrial and mobile equipment used in the construction, aerospace & defense, material handling, automotive, agricultural, mining, oil & gas, and marine industries, as it helps to maintain high productivity and reduce downtime.
Key Stakeholders
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End users
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Government bodies, venture capitalists, and private equity firms
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Hydraulics manufacturers
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Hydraulics distributors
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Hydraulics industry associations
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Professional service/solution providers
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Research institutions and organizations
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Standards organizations and regulatory authorities related to the Hydraulics market
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System integrators
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Technology consultants
Report Objectives:
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To describe and forecast the Hydraulics market, in terms of value, based on type, component, sensors, end user, and region.
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To forecast the market size, in terms of value, for four main regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW)
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To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the market growth
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To provide a detailed overview of the value chain of the Hydraulics ecosystem
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To provide a detailed analysis of the impact of the recession on the Hydraulics market, its segment, and market players
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To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
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To analyze the opportunities in the market for stakeholders and details of the competitive landscape of the market
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To strategically profile the key players and comprehensively analyze their market positions in terms of ranking and core competencies
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To analyze the major growth strategies implemented by key market players, such as contracts, agreements, acquisitions, product launches, expansions, and partnerships
Available Customizations:
Based on the given market data, MarketsandMarkets offers customizations in the reports according to the client’s specific requirements. The available customization options are as follows:
Product Analysis
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Product matrix that gives a detailed comparison of the product portfolio of each company
Company Information
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Detailed analysis and profiling of 25 key players
Growth opportunities and latent adjacency in Hydraulics Market