The hydraulic motors market is projected to observe robust growth by 2027 owing to surging product prominence across varied end-use applications. Moreover, technological advancements in the product are anticipated to further support market growth over the forecast period.

Hydraulic motors refer to mechanical actuators that are capable of converting pressure into rotational hydraulic energy and torque. These motors, which are rotary counterparts of hydraulic cylinders, offer several advantages like high efficiency, better power transmission, improved power transmission safety, and superior ease and simplicity of power transmission.

These motors are more powerful than similar-sized electric motors. Thus, as these motors are versatile and can operate in compact spaces, there has been an upsurge in product demand in recent years. Furthermore, industry players have been focusing on product development, which has bolstered business growth in key regions across the globe.

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For instance, in August 2021, Esco Tool, a US-based tool manufacturer, introduced its COHOG split-frame pipe cutting machine, which is equipped with a hydraulic motor. The motor supports low-speed functioning with high torque to enable chatter-free cutting of superduplex as well as other highly alloyed pipe.

The hydraulic motors market has been divided on the basis of product, speed, end-use industry, and region. Based on product, the market has further been categorized into gear motor, piston motor, vane motor, and others. The others product segment is estimated to grow at a CAGR of more than 3.8% over the assessment timeframe to reach a sizable valuation by the end of 2027.

With respect to end-use industry, the hydraulic motors market has been bifurcated into construction, marine, agriculture & forestry, industrial, oil & gas, mining, transportation, recycling & municipal, and others. The marine segment amassed a revenue share of around 10% in the market in 2020 and is expected to grow at a substantial pace over 2021-2027.

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The oil & gas end-use industry contributes considerably to the market revenue and is projected to expand at a CAGR of approximately 4.0% over the analysis period. The mining segment is slated to grow at about 3.9% CAGR through the study timeframe. In 2020, the recycling & municipal end-use industry gathered a volume share of over 11% in the market and is calculated to grow at a solid CAGR over the review period.

The transportation end-use industry is anticipated to garner a revenue share of nearly 9% by the end of 2027. In 2020, the others end-use industry segment captured approximately 4% volume share in the market and is likely to progress at a steady pace over 2021-2027.

In the regional landscape, the Latin America hydraulic motors market is speculated to grow at a CAGR of above 3.9% through the forecast period to register optimistic revenue growth by 2027. Meanwhile, Middle East & Africa held a volume share of over 9% in the hydraulic motors market in 2020 and is expected to witness notable expansion through 2027.