In 2020, the global hydraulic parts market was worth EUR32.9 billion, sustaining AAGR of 3.9% from 2016 to 2020. In future, the global market will show a fluctuant uptrend up to 2026 affected by the prosperity of the construction machinery industry, expectedly being valued at EUR36.1 billion in 2026, with CAGR of 1.6% during the period.
Hydraulic components are key parts for mobile machineries including construction machinery, agricultural and forestry machinery, material handling equipment and commercial vehicle. The global construction machinery industry has regained growth since 2015. The rapid urbanization of the emerging markets and the infrastructure improvement in rich world have driven up the demand for mobile machineries and also given a big boost to the global hydraulic and pneumatic power machinery and component manufacturing industry.
The scale of the hydraulic power machinery and parts manufacturing industry hinges on a country's economic strength and level of industrialization. The US, China, Germany, Japan and Italy are the top five consumers of hydraulic power machineries and components in the world.
As the world's second largest economy and the biggest manufacturing power, China has a hydraulic power machinery and parts manufacturing industry taking up 30.6% of the global market by scale, just a bit lower than the US (32%), and far higher than other developed countries like Japan and Germany.
Players at the upstream end of the hydraulic parts industry chain are suppliers of raw materials, precision castings and accessories including steel, pump/valve castings, seals and auxiliary materials; the midstream provides hydraulic parts; the wide range of downstream applications covers construction machinery, aviation & aerospace, metallurgical machinery, ship and offshore engineering, and new energy. In China's case, among the downstream application sectors, construction machinery accounted for 44% in 2020, higher than the rest.
European and American brands have huge advantages in history, technology and scale. However, in recent years, China's hydraulic industry has developed rapidly, actively discovered and improved existing problems, actively deployed regional structures, carried out industrialization upgrades, laid out industrial chains, improved the competition pattern, solved technical problems, and caught up with technological trends and development trends. China is a country with a full industrial chain. In addition to a full range of hydraulic products, China is also making extensive arrangements in downstream applications to achieve the extension of the industrial chain.
Hanjiu is a fast-growing new brand in China, a team focusing on hydraulic service, R&D, manufacturing, processing and marketing. It is not known to the public, while has long-standing reputation in major hydraulic importer in Europe and the United States. Hanjiu's items account for about 30% of China's export market and are exported to more than 80 countries and regions around the world. While focusing on R&D and technological innovation, it has actively seized the beach and laid out the upstream supply chain, so as to control production, price and time. It has made conscious efforts to be a solid and stable backing force for it's partners. With its solutions, the competitive advantage of theri partners significantly improved.
Hanjiu hopes to become an partner that makes good contributions to clients, industry and society.
HANJIU is willing to join hands with you to start a new journey!