Technology Developments Spur Growth in the World Hydraulic Components Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Hydraulic Components markets. Global market for Hydraulic Components is projected to reach US$63 billion by the 2018, primarily driven by technology developments in the field of micro hydraulics and electro hydraulics.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend
Hydraulic Components: A Global Strategic Business Report

San Jose, California (PRWEB) May 15, 2013

Follow us on LinkedIn – The science of hydraulics has witnessed significant improvements over the decades making “Hydraulics” a key component in the field of applied science and engineering. Hydraulic machinery and equipment are today a critical part of the fluid power systems industry. Defined as a technology that enables transmission of applied force from one point to another through incompressible fluid as a transport medium, hydraulics today finds applications in a broad range of industrial equipment and vehicles. Hydraulics is widely used in material handling equipment, heavy industrial equipment, transportation (automotive/aerospace system components), aerial work platforms, construction equipment, agricultural equipment, mining equipment, utility and service equipment, among others.

Technology developments in the field of micro-hydraulics and electro-hydraulics is expected to spur growth in the market by expanding the technology‘s use in infrastructure industries, mining and aerospace. Innovative developments in electronic controls are helping expand the functionality of new generation hydraulic equipment thereby encouraging adoption among a larger base of end-user industries. Integration of electronic controls in hydraulic machinery significantly enhances the efficiency, accuracy, functionality and ease of use of the equipment. Growth in the market is also expected to stem from strong replacement demand especially in developed markets. The massive installed base of aging hydraulic equipment in these markets across key industrial sectors provides ample opportunities for equipment replacements. Corrosion, wear and tear and internal and external system leakage are primary reasons for equipment replacements. Also, repairs for hydraulic equipment are expensive with consumers preferring to replace the equipment as against repairing and reconditioning. Under this scenario, new equipment sales are poised to grow in the coming years.

The growing global focus on energy efficiency against a backdrop of rising energy costs and environmental pollution is poised to benefit the market for energy efficient hydraulic equipment products. As end-user industries come under increased regulatory pressure to adopt appropriate measures to enhance energy performance of their hydraulic systems in attempts to lower energy bills, demand for energy efficient hydraulics is expected to grow rapidly. A key development in this space centers around variable speed hydraulic pumps and variable-speed pump drives which deliver accurately measured and timed hydraulic power as required. Variable Speed Hydraulic Pumps offer upto 40% to 70% energy savings as compared to fixed speed pumps.

Cautious optimism prevails in the world market for industrial hydraulics as global manufacturing PMI although fragile and plagued with persistent challenges records modest recovery. Despite mild fluctuations, global PMI index expanded for four straight months in the year 2013 providing reasons for optimism. Industrial hydraulics is used widely in industrial machinery and machine tools. Major manufacturing industries that utilize hydraulic equipment include textile, packaging, paper, printing, plastics, rubber working, capping and sealing, and beverage industries, among others.

Strong construction activity in developing countries is also expected to spur demand for hydraulic construction tools and equipment thereby benefiting the market for hydraulic components. Construction activity in BRIC countries, after a temporary slowdown, is forecast to grow steadily, driven by healthy gains in GDP growth, growing population, rising disposable incomes of an expanding base of middle class population, availability of capital and natural resources, and increasing levels of urbanization, among others. Increased investment in the industrial and infrastructure sector additionally bodes well for the market.

As stated by the new market research report on Hydraulic Components, the US continues to remain the largest market for hydraulic components. Asia-Pacific is forecast to emerge as the fastest growing regional market with a projected CAGR of 7.2% over the analysis period. The region is expected to witness strong demand for hydraulic components used in mining equipment and agricultural machinery and implements. Demand is being led by the shifting growth in the mining industry to developing countries and by the rising investments in mechanization of agriculture in attempts to improve farm and labor productivity.

Major players in the market include Atos Electrohydraulics, Avic Liyuan Hydraulic Co. Ltd., Bailey International LLC, Bosch Rexroth AG, Daikin Industries Ltd., Dongyang Mechatronics Corporation, Eaton Corporation, Jiangsu Hengli Highpressure Oil Cylinder Co. Ltd., Kawasaki Heavy Industries Ltd., KYB Co. Ltd., Moog Inc., Nabtesco Corporation, Nachi-Fujikoshi Corp, Parker Hannifin Corporation, Sauer-Danfoss Inc., Tokyo Keiki Inc., Toshiba Machine Co Ltd., Weber-Hydraulik GmbH, Wipro Infrastructure Engineering Ltd., Yuci Hydraulics Co. Ltd., and Yuken Kogyo Co Ltd., among others.

The research report titled “Hydraulic Components: Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Middle East and Latin America. Product markets analyzed in the report include Accumulators & Filters, Cylinders, Power Packs, Pumps & Motors, and Valves, among others.

For more details about this comprehensive market research report, please visit
http://www.strategyr.com/Hydraulic_Components_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Follow us on LinkedIn

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

###


Contact

Attachments