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Affected by the COVID-19 pandemic, the global hydraulic market size is expected to decline to roughly EUR27.5 billion in 2020. However, the market size will recover to EUR32.3 billion by 2026 after the pandemic ends.
The growth of the construction machinery industry has triggered higher demand for the hydraulic industry. In 2019, the global hydraulic market size was estimated at approximately EUR30.2 billion, marking a relatively mature stage with stable growth.
China s hydraulic industry started in the 1950s. After decades of efforts, the overall technical level has been greatly improved, which offers strong support the stable development of the hydraulic industry. In order to mitigate the impact of the global financial crisis on the domestic economy, China has further bolstered infrastructure construction.