Dallas, United States, August 26,2019- 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. Lucintel offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT Analysis.
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.
