Hydraulic Filter Market Projections & Future Scenario Analyzed until 2028
The global hydraulic filter market is projected to register a moderate expansion over the forecast period during 2018 to 2028.
[UKPRwire, Thu Jun 13 2019] In order to dissert the market scenario prevailing across the hydraulic filter market sector, FactMR has evenly presented a comprehensive hydraulic filter market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the hydraulic filter market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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- During 2013-2017, the hydraulic filter market revenues grew at a modest 3.5% CAGR, with a significantly high demand for hydraulic filters and lube oil filters in the aerospace industry.
- In 2018, the hydraulic filter market reached US$ 1.8 billion and it is expected to record 4.0% y-o-y in 2019. With the rapidly expanding range of end-use applications of hydraulic filters, the global market is estimated to grow at a healthy 4.5% CAGR during the forecast period 2018-2028.
- Asia Pacific is a leading market for hydraulic filters with over one-third revenue share of the global market. China will generate positive growth opportunities for hydraulic filter manufacturers despite fluctuating raw material prices in the Asia Pacific region.
- Asia Pacific will continue to remain the high-growth market for hydraulic filters, as end-use industries in the region, such as power generation, construction, and steel industry, are likely to gain traction in the upcoming years.
What are the Key Growth Drivers of the Hydraulic Filter Market?
- Development of new raw materials, such as micro glass materials, signify the stakeholders’ increasing efforts to boost innovations in the design and features of new models of hydraulic filters.
- Leading manufacturers are introducing hydraulic filters to suit the specific requirements of end-users from diverse industries—aerospace and defense industry will remain a primary focus for most.
- Increasing growth of the leading end-use industries, including marine, steel construction machinery, petrochemical, and transportation industries, are creating promising opportunities for manufacturers in the hydraulic filter industry.
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Donaldson Company, Inc., Parker Hannifin Corp., Eaton Corporation Plc., Bosch Rexroth, Mahle International GmbH (Filtration Group Corporation), UFI FILTERS, HYDAC Verwaltung GmbH, Mann+Hummel Group, MP Filtri S.p.A., Walter Stauffenberg GmbH & Co. KG (Stauff), OMT S.p.A., Pall Corporation, Caterpillar Inc., SMC Corporation, and Yamashin Filter Corp are among the key companies in the hydraulic filter market.
High Demand for Return Line Filters to Prevail
Return line filters and suction filters are among the most popular types of low-pressure hydraulic filters. However, a majority of end-users are choosing return line filters over suction filters, especially in open-loop applications, with growing needs for improved efficiency at maintaining high fluid cleanliness levels. In addition, installing hydraulic filters on a return line of an application ensures the availability of sufficient pressure for forcing the fluid through fine media. Moreover, improved performance characteristics, such as high chemical resistance, contamination retention capacity, and high burst pressure resistance, are likely to contribute to the increasing demand for return line filters in the coming future.
A unique methodology and holistic approach is adapted to carry out a detailed analysis on the growth of the hydraulic filter market to during the assessment period 2018-2028. The FactMR report includes detailed information about the growth prospects of the market and offers exclusive conclusions about the future of in the hydraulic filter market.
Detailed secondary and primary market research is conducted to acquire comprehensive information about historical and current growth parameters of the hydraulic filter market featured in the report. Secondary market research on the hydraulic filter explains facts and data the historical and current facts and industry-validated information about the hydraulic filter market. Leading manufacturers, suppliers, distributors, and investors in the hydraulic filter market are interviewed as a part of primary market research, which is conducted after secondary research.
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