'India accounts for only 1% of global fluid power market'

The fluid power industry is at present experiencing a growth of 20 per cent aided by the huge demand for construction equipment in the infrastructure projects and robust growth in the other sectors, said S Prasannakumar, president of Fluid Power Society of India.

Inaugurating the Fluid Power Exhibition and Seminar (FPES) 2004, a biennial event of the Rs 1,500-crore Indian fluid power industry, Prasannakumar said: "We expect this industry to grow at a healthier double digit of at least 15-20 per cent."

Talking on 'Opportunities and Challenges facing the Hydraulic Motion Control Industry', Sohan Uppal, vice-president (technology) of Eaton Corporation, Fluid Power Group, said: "The current fluid power market is about $25 billion. While Asia accounts for 36 per cent, India's share, however, is a mere one per cent. Looking at the GDP growth of India and China, it is clear that these two regions are the growth engines of Asia Pacific. "

According to the officials at FPSI, of the Rs 1,500-crore Indian fluid power market, the pneumatic sector accounts for approximately Rs 200 crore.

However, there is a large unorganised sector comprising over 30 per cent marketshare.

FPSI also feels that the recent trends in the fluid power industry show massive global consolidation, acquisition and mergers, as companies aim to offer a broader range of fluid power products and solutions. Customers are on the lookout for a "total fluid power package of components or systems", according to FPSI.