Global Hydraulic Valve Market - Forecasts from 2023 to 2028

The global hydraulic valve market was valued at US$9.349 billion in 2021.

A hydraulic valve is a mechanical device that controls the flow, pressure, and direction of hydraulic fluid in a hydraulic system. A hydraulic valve is an essential component of any hydraulic system and is used in various applications, including industrial, commercial, agriculture, construction, and automotive systems. Hydraulic valves come in different types, including directional control valves, pressure control valves, flow control valves, and proportional control valves. The rise in infrastructure development projects and the growing need for efficient and reliable hydraulic systems are fuelling the hydraulic valve market growth globally.

The growing construction and transportation sectors are boosting the hydraulic valve demand.

Hydraulic systems are widely used in various construction equipment, such as excavators, bulldozers, and cranes, to enable such equipment to operate reliably in harsh conditions, such as extreme temperatures, heavy loads, and rough terrain. Construction projects are continuing to increase in size and complexity, so the demand for high-performance equipment and hydraulic systems will continue to grow, fuelling the demand for hydraulic valves. The World Bank predicted the global construction industry would increase to 4% in 2021 from 2.9% in 2020. In the heavy-duty vehicle segment, hydraulic valves are used in buses, trucks, tractors, and trailers to control the transmission, suspension, and braking systems. The increasing demand for these vehicles, particularly in emerging economies, and increasing focus on reducing emissions, improving fuel efficiency, and enhancing safety and performance in transportation applications is expected to drive the hydraulic valve demand. According to the International Organization of Motor Vehicle Manufacturers (OICA), the sale of commercial vehicles in 2021 increased to 26.28 million from 24.85 million in 2020. According to the International Energy Agency (IEA), the global heavy-duty vehicle market saw positive growth of 7% in 2019, with strong growth in China and India. This demonstrates that the hydraulic valve market has a great demand.

The Asia Pacific region held a significant share of the market in 2021.

The rapidly growing construction and infrastructure development activities, as well as the increasing demand for heavy-duty vehicles and other transportation equipment in China, India, Japan, and South Korea, are contributing to the growth of the hydraulic valve market in the Asia Pacific region. In 2021, the Indian government launched the "Production Linked Incentive" scheme to promote the manufacturing of various sectors, including automobiles and advanced manufacturing. In 2020, the South Korean government announced an investment of KRW 160 trillion (USD 137 billion) for various infrastructure projects, including railways and ports. In September 2020, the Chinese government announced plans to develop the Yangtze River delta region, including Shanghai and the Jiangsu, Zhejiang, and Anhui provinces. In 2020, the Japanese government announced plans to invest ¥ $ 2.2 billion (approximately $20 million) in a research and development project to improve manufacturing processes' efficiency and reliability. The development of industries such as manufacturing and transportation that use hydraulic valves is expected to drive the hydraulic valve market in the Asia Pacific region during the forecast period.

Market Developments:

• March 2021: Bosch Rexroth introduced hydraulic directional control valves for mobile machinery applications designed to improve machine productivity and reduce energy consumption.
• February 2021: Eaton Corporation announced the launch of its new CLS Sectional Mobile Valve, designed for use in various mobile applications, such as agriculture and construction equipment.
• January 2021: Parker Hannifin announced the launch of its new line of hydraulic flow control valves designed to provide precise fluid flow control in hydraulic systems.

Market Segmentation:

By Type

• Pressure Control Valves
• Flow Control Valves
• Directional Control Valves
• Others

By Material

• Steel
• Iron
• Others

By End User

• Oil & Gas
• Construction
• Transportation
• Agriculture
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• UK
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Other