The global market for Hydraulic Components is forecast to reach US$85.5 billion by 2025, driven by the ubiquitous use of fluid power in modern engineering and continuous developments in the science of hydraulics which help the technology replace mechanical and electrical drive systems. Especially poised to benefit future growth in the market is the expanding scope, utilization and application scenarios emerging as a result of technology innovations that make fluid power solutions ready for the era of industry 4.0. Smart hydraulics, in this regard, defined as a combination of brawny traditional hydraulics and intelligent electronics will emerge as the key revenue spinner in the market. Benefits of smart hydraulics include cost effectiveness when compared to pure electric systems; compact footprint; versatility, superior control benefits offered by electric servo technology; scalable, modular assembly; smart-leak detection capabilities for greater safety, intelligent tools for condi...