The global hydraulic market continues to grow, and China has become the second largest consumer in 2016.
The global hydraulic components market has maintained steady growth. According to ISC statistics, the global market for hydraulic products reached 28.2 billion euros in 2016, an increase of 66% from the scale of 17 billion euros in 2000, and the average annual compound growth rate exceeded 3%.
In terms of regions, the demand for hydraulic products is mainly concentrated in the United States, Europe, Japan, China and Taiwan; among them, the United States (34%), China (28%), Germany (11%), Japan (6%), Italy (6%) ranked among the top 5 consumer countries in the world.
From a global perspective, demand in the Chinese market has grown the fastest and market position has improved significantly.
From 2000 to 2016, the domestic hydraulic market rapidly expanded from 500 million euros to 7.9 billion euros (about 60 billion yuan), with an absolute growth of more than 14 times, and the global market share increased from 3% to 28%; The absolute size of the US market increased by 28%, the European market grew by 43%, and the Japanese market fell by 38%.
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