🏗️ Steady Growth from 2013 to 2023
The Fluid Power sector – including both hydraulics and pneumatics – experienced solid growth over the past decade, particularly in Europe and Italy. In Italy, total revenues rose from approximately €2.8 billion in 2013 to nearly €4.83 billion in 2023, representing an increase of almost +70%. Hydraulics consistently led the sector, accounting for between 70% and 75% of the total market.
Growth was driven by industries such as industrial automation, agricultural machinery, construction, and machine tool production – areas where hydraulic applications evolved in parallel with the demand for more integrated and high-performance solutions.
📉 2024: Flat Revenues, Sharp Drop in Orders
In 2024, the industry began to show signs of slowdown, following the strong post-pandemic rebound. Total revenue in the Italian Fluid Power market remained essentially flat at €4.83 billion, with a modest +1.8% increase compared to 2023. Hydraulics generated €3.79 billion in revenue, up +3.3% year-over-year.
However, the most striking figure was the decline in new orders, down -22.5% overall, with hydraulic exports falling by -25.2%. The slowdown mainly affected European markets, impacted by geopolitical instability and reduced industrial activity in countries like Germany. Still, Italy maintained a strong trade surplus, exporting €2.62 billion in hydraulic components, with a positive trade balance of nearly €1.9 billion.
🌍 Global Overview: Uneven Recovery
Globally, the Fluid Power market reached about $51.9 billion in 2024, driven mainly by Asia-Pacific and North America. Forecasts project continued growth, potentially reaching $90 billion by 2033, with a compound annual growth rate (CAGR) of +6%. The hydraulics segment alone was worth around $70 billion in 2024, with expected growth to over $90 billion by 2030 and a projected +5.4% CAGR.
The main drivers of global growth include advanced automation, the shift toward Industry 4.0, and stricter environmental regulations pushing manufacturers to invest in more efficient, lower-impact technologies. The most dynamic markets remain China, India, the U.S., and Southeast Asia, while Europe continues to grow more slowly as a mature market.
🔄 2025: Signs of Stabilization
Early data from the first half of 2025 shows encouraging signs. According to Oxford Economics, NFPA, and UCIMU, the sector is undergoing stabilization, particularly in segments like mobile hydraulics, agricultural machinery, and flexible automation.
Although volumes haven’t yet returned to the 2022 peak, the industry is shifting its focus toward digitized solutions, including integrated platforms, remote control systems, predictive diagnostics, and smart sensors. This is accelerating a major technological transformation and opening up space for high-value-added, specialized suppliers.
📈 2025–2026 Outlook
Looking ahead to 2025–2026, forecasts suggest a moderate return to growth. The Italian Fluid Power sector is expected to hold steady around €4.1 billion in 2025, with potential revenue growth of +1.5–2% in 2026. Hydraulics will remain the dominant segment, bolstered by growing demand in strategic fields like energy, automated logistics, and mobile construction equipment.
Companies capable of integrating mechanical expertise with smart technologies will have a distinct competitive edge. Investments in energy efficiency, digitalization, and flexible production systems will be critical to riding the next growth wave expected from 2026 onward.
📚 Key Sources
Assofluid – Annual Economic Survey 2023–2024 & 2025 Outlook, May 2025
Oxford Economics & NFPA – Global Fluid Power Market Report 2024
Future Market Insights – Fluid Power Equipment Market Trends 2025–2033
Mordor Intelligence – Hydraulics Market Forecast (2024–2030)
Statista – Hydraulic Equipment Market Size Worldwide 2019–2025
UCIMU – Centro Studi Sistemi per Produrre – Machine Tool Sector Outlook 2025
ISTAT / Eurostat – Italy Foreign Trade Data – Hydraulic Sector (2023–2024)
Centro Studi Confindustria – Industry Snapshot 2024 & 2025 Forecast
