According to
a new market report published by Lucintel, the future of the global hydraulic
filter market looks promising with opportunities in the construction machinery,
mining, petrochemical, aerospace, marine, and transportation industries. The
global hydraulic filter market is expected to reach an estimated $6.8 billion
by 2024 with a CAGR of 3.6% from 2019 to 2024. The major drivers for this
market are increasing production of construction, mining, and other equipment, stringent
government regulations for environmental pollution, and increased focus on
preventive maintenance of hydraulic equipment and systems.
In this market, pressure side filter, return
side filter, off-line filter, in-tank breather, and suction side filter are
used in various end use industries to remove dust, bacteria and other contaminants
from hydraulic equipment. Lucintel forecasts that, pressure side filter will
remain the largest segment and it is also expected to witness the highest
growth over the forecast period as these filters are designed to clean the
fluid to protect the pump and other sensitive components.
Within this market,
hydraulic filters for construction machinery will remain the largest segment
over the forecast period due to increasing production of construction
machinery.
Asia Pacific will remain
the largest region and it is also expected to witness highest growth over the
forecast period due to increasing production of construction machinery, high
investment in infrastructure, and government plans for smart cities.
Emerging trends, which have a direct impact on
the dynamics of the industry, include
the introduction of new micro glass
materials with unique six layer design that delivers 50% more dirt holding
capacity and development of the hydraulic filters with cyclone effect
technology. Parker Hannifin, Mahle, Donaldson, Eaton, UFI FILTERS, Danaher,
Bosch Rexroth, SMC Corporation, Caterpillar, and Yamashin are the major hydraulic filter suppliers in
the global hydraulic filter market.
Lucintel, a leading
global strategic consulting and market research firm, has analyzed growth
opportunities in the global hydraulic filter market by product, end use
industry, mode of distribution channel and region. Lucintel has compiled a
comprehensive research report entitled “Growth
Opportunities in the Global Hydraulic Filter Market 2019-2024: Trends,
Forecast, and Opportunity Analysis.”
The Lucintel report serves as a catalyst for growth strategy, as it provides
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global hydraulic filter market by product, end
use industry, mode of distribution channel and region, as follows:
By Product Type [$B shipment analysis for 2013
– 2024]:
- Pressure Side Filter
- Return Side Filter
- Off-Line Filter
- In-Tank Breather
- Suction Side Filter
- Others
By End Use Industry [$B shipment analysis for
2013 – 2024]:
- Construction Equipment
- Transportation
- Aerospace
- Marine
- Mining
- Petro-chemical
By Mode of Distribution Channel [$B shipment
analysis for 2013 – 2024]:
- OEM
- Aftermarket
By Region [$B shipment analysis for 2013 – 2024]:
- North America
o
US
o
Canada
o
Mexico
- Europe
o
Germany
o
United Kingdom
o
France
o
Russia
- Asia Pacific
o
China
o
Japan
o
India
o
South Korea
o
Indonesia
- Rest of the World
o
Brazil
o
Argentina
This
175-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
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Market Report, Construction
Reports, Market
Research Report, Capital
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About Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1. What are
some of the most promising, high-growth opportunities for the hydraulic filter
market by product (suction side filter, pressure side filter, return side
filter, off-line filter, and in-tank breather filter), by end use industry (construction
machinery, mining, petrochemical, marine, transportation), mode of distribute
channel (OEM and aftermarket), and region (North America, Europe, Asia Pacific,
and the Rest of the World)?
Q.2. Which segments will grow at a faster pace
and why?
Q.3.
Which region will grow at a
faster pace and why?
Q.4.
What are the key factors affecting
market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are
the emerging trends in this market and the reasons behind them?
Q.7. What are
some of the changing demands of customers in the market?
Q.8.
What are the new developments in the
market? Which companies are leading these developments?
Q.9.
Who are the major players in this
market? What strategic initiatives are key players pursuing for business
growth?
Q.10.
What are some of the competing products
in this market and how big of a threat do they pose for loss of market share by
material or product substitution?
Q.11.
What M&A activity has occurred in the
last 5 years and what has its impact been on the industry?
