Growth of construction & mining industries, AI in agriculture, & increase of new manufacturing facilities have improved the demand for hydraulic equipment. To meet the growing demand, manufacturers of hydraulic equipment have accepted some strategies to expand their product portfolio & offer better service to their consumers. For example, J C Bamford Excavators Ltd. (JCB), a mobile machinery manufacturer, introduced New Telehandler, Backhoe, & Electric Mini-Excavator in March 2019 at American Rental Association show in Anaheim. Similarly, in December 2019, Eaton, a residential & industrial components manufacturer, introduced Delta series motor with combined parking brake, which is a dependable & compact solution to improve design flexibility operation. Such strategies increase the demand for technically advanced hydraulic equipment, thereby endorsing the development of the market.