Bonfiglioli launches Bonfiglioli 705XT track drives to cater to growing demand from consumer of axia

Ajinkyaaa25 Jun, 2021Other

Rapid growth in the industrial sector as axial piston motors is majorly used in applications such as industrial, construction, agriculture, and marine equipment is driving the growth of the market. For example, according to the United Nations Industrial Development Organization (released in January 2018), the global industrial output in 2017 rose by 3.2% over the value recorded in 2016 and the manufacturing output of developed nations grew by 1.8%, in 2017. This accounted for over 40% of the global industrial output in 2017. Moreover, the rise in the production and sale of automobiles worldwide is again fostering the growth of the axial piston motors market.