Hydraulic Rescue Tools Market Size, Share, Growth and Industry Analysis by Type (Hydraulic Cutters, Hydraulic Spreaders, Rams, And, Others) By Application (Fire Rescue and Safety, And, Military Action) Regional Forecast From 2023 To 2030

Updated On: 01 April 2024

HYDRAULIC RESCUE TOOLS MARKET REPORT OVERVIEW 

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The global hydraulic rescue tools market size is anticipated to be worth USD 340.19 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 597.96 million by 2028 with a CAGR of 9.86% during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Hydraulic rescue tools are designed to be used in any emergency purpose. These equipments are designed by using base materials which are of the finest quality. These are also known by the name jaws of life. Emergency rescue personnel use these to save victims who are involved in accidents. Some of the common hydraulic rescue tools include rams, cutters, and spreaders.

Hydraulic cylinders which are made up of chromium plating have been adopted by most of the industries. This is considered as the latest trend in the market.

Sectors like metal, construction, automotives, military, and mining industries use hydraulic tools. Hydraulics increase the efficiency of other equipments. All these factors are generating a robust growth in the hydraulic rescue tools market share.

COVID-19 impact: Significant Reduction in Production During Pandemic Reduced Market Growth

The pandemic of COVID-19 slowed down the operations of several industries. Decline in the demand from customers was the major factor that affected the sales of products from various markets. The financial position of many companies was very low due to the reduction in the production as well as the sale of the products.

Hydraulic rescue tools are mainly made up of metal blades which are made up of hard steel. They are made up of hard steel in order to enable them to cut through the hardest of metals. Availability of steel was a major challenge faced by the market. Steel is an alloy which is made two or more metals. During the pandemic, there was a dip in the production of alloys like steel. All of these reasons resulted in decrease in the market growth.

LATEST TRENDS

"Noticeable Technological Advancements in Hydraulic Cylinders to Increase Market Growth"

Several studies are being done to find and prepare advanced variants that are suitable for the market requirements. Many key industry players such as Parker-Haffin, Holmatro, and, Danfoss are making significant investments in developing technologies that can be integrated in the hydraulic machines.

A new innovation that can be witnessed in the market is the development of hydraulic cylinders which are made up of chromium plating. Chromium is opted for, as it is very sturdy and can provide high resistance against wear and tear. This can be considered as a new trend in the market.

HYDRAULIC RESCUE TOOLS MARKET SEGMENTATION 

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• By Type:

The market can be divided on the basis of type into the following segments:

Hydraulic cutters, hydraulic spreaders, rams, and, others. Hydraulic cutters segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Fire rescue and safety, and, military action. The fire rescue segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Growing Need for Material Handling Equipments in Various Industries to Accelerate Market Growth"

Hydraulic rescue tools are of great demand in several industries as they can be used in case of emergencies like minor and major accidents.  Another common problem that is constantly being faced by companies and industries is the high labor turn over ratio and labor costs. 

Increase in labor costs can lead to loss in effectivity and productivity. To solve this problem several industries are opting to incorporate automated solutions. Automated solutions decrease the extreme dependency on human force. This is driving several sectors like metal, construction, automotives, military, and mining industries to use hydraulic tools and machineries. This factor is driving hydraulic rescue tools market growth.

"Customizable Hydraulic Tools with Good Features to Propel Market Growth "

Hydraulic rescue tools are customizable and can be designed and produced according to the need and convenience of the manufacturers. A hydraulic cylinder was developed to be used in telescopic mobile cranes. This was a new development which was witnessed in the market.

This hydraulics are also employed to improve the functionality and controllability of different equipments. They also help in exercising control over the power requirements and safety while handling other machineries and devices. The efficiency of hydraulic tools is prone to bring vast growth to the market.

RESTRAINING FACTOR

"Risks of Oil Leakage from Hydraulic Devices to Decrease Market Growth"

Hydraulic devices like cylinders mainly work on hydraulic fluids. Oil is the main hydraulic fluid which is used in these devices. Several factors can lead to leakage in oil from these devices. This can become a factor of risk.

Many reasons like inappropriate infrastructures, fittings, shocks, vibrations, environmental parameters, variations in temperatures can lead to leakage of the oil present in these devices. Leakage does not only waste a lot of money, but it can also cause fatal accidents. Another restrain that can be observed in the market is easy availability of substitute equipments. Pneumatic systems are some of the popular substitute products available in the market.

HYDRAULIC RESCUE TOOLS MARKET REGIONAL INSIGHTS 

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"Asia Pacific to Dominate Market Share in The Upcoming Years"

Asia Pacific occupies most of the market share, due to two important factors that is industrialization and urbanization. These two factors have led to the development of several sectors like construction, mining, military, and agriculture.

All of these markets adopt hydraulic rescue tools. Rise in demand for material handling is fueling market growth. Automated and semi-automated material handling equipments are very popular as they reduce high dependency on labor as well as labor costs. All of these factors have driven the market growth in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• StarYe Rescue (China)
• Rehobot (Sweden)
• Ogura (U.S.)
• Holmatro (China)
• Phoenix Rescue Equipment, Inc. (U.S.)
• Weber-hydraulik (E.U.)
• Hydr’am (U.K.)
• Amkus (U.S.)
• Champion Rescue Tools (U.S.)
• IDEX Corporation (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations