Global Hydraulic Equipment Market to Reach US$49.6 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

Global Hydraulic Equipment Market to Reach US$ 49.6 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

San Jose, CA (PRWEB) November 14, 2011

Follow us on LinkedIn - Hydraulic equipment, a key constituent of the fluid power industry, outdistances the nearest competing technology - pneumatic equipment, leveraging on the strength of robust demand from end-use applications. Hydraulic equipment is applied in various processes and systems owing to their consistency and robust nature that distinguishes it from other forms of motion control equipment. To satisfy demand for enhanced system performance from end users, suppliers are inclined to integrate hydraulic equipment with electronics. This integration enables features such as improved accuracy, enhanced functionality, easy-to-use and controlled performance. Manufacturing prowess tends to vary across geographic markets with Australian companies specializing in the valves segment, while US companies remain renowned for their expertise in the pumps segment and German majors focusing on fluid systems used in defense. Germany also boasts of being the world's largest manufacturer of hydraulic mining shovels in spite of the fact that there exists no domestic demand for the product in the country.

The global hydraulic equipment market suffered a severe setback in the years 2008, 2009 and 2010 due to the recent economic recession. The erosion in market value was attributed to the then hurting construction and industrial machinery sector, which represent two of the most prominent end-use markets for hydraulic equipment across the globe. Sale of earthmoving and mining equipment came under the yoke of the recession with shortages in finances and budgetary constrains suppressing demand. Additionally, lethargy in construction activity in most parts of the world, particularly the industrialized nations, tranquilized demand for most construction equipment such as forklifts, construction cranes, road rollers and ground machines, all of which use mobile hydraulic components. With industries such as textile, paper, rubber working, beverage, plastics also bearing the brunt of financial meltdown, demand for hydraulic components used in industrial machinery slipped southwards. Easing of lending restrictions and recovery in construction and mining industries in the post recession period is expected to re-infuse vigor into the demand patterns in the market.

Maturing markets, advancement of technology, high volume purchases made by OEMs and pressurized margins represent characteristic traits of the hydraulic equipment market. Some small and medium sized companies and divisions of large business enterprises are eyeing targeted marketing as their only route to survival and growth. With hydraulic equipment market essentially tipping towards newer revenue segments, away from the industry's cash cows, manufacturers are focusing on unconventional and emerging product markets. For instance, advancements in programmable controls are portending brighter growth opportunities for valves, cylinders and power packs as against pumps, motors and other equipment. While power packs are likely to witness strong growth, accumulators and filters are treading towards steadier revenue growth. As a result, niche marketing and application-specific new product development are becoming common in the hydraulic valve market. Companies concentrating on core product areas and technologies are posting strong growth rates in addition to elimination of cost based competition through product differentiation.

Growing popularity of the Internet and distinct cost advantages associated with online marketing are encouraging companies to host online procurement and marketing operations. Electronic procurement and online cataloging are current trends in the marketing of industrial and mobile products. Virtual markets offer wider access to markets, source best deals, expedite procurement and distribution processes, and eliminate costs of intermediaries, thereby driving tremendous gains for the manufacturers. Growth within the mature global hydraulic equipment industry will continue to be derived mainly from the replacement parts and accessories sector.

As stated by the new market research report on Hydraulic Equipment, the US continues to remain the largest regional market for hydraulic equipment. Asia-Pacific is the fastest growing regional market for hydraulic equipment with dollar sales from the region waxing at a CAGR about 6.2% over the analysis period. Growth in infrastructure facilities, manufacturing plants, and housing, particularly in developing markets such as China and India, is creating the need for hydraulic equipment in the region. Expansion of coal plants for energy production in India and China continues to lend traction to hydraulic equipment market in the region, particularly for hydraulic valves. Pumps and Motors represents one of the fastest growing product segments worldwide.

Major players in the marketplace include Bailey International Corporation, Bosch Rexroth Corporation, Daikin Industries Ltd., Dongyang Mechatronics Corporation, Eaton Corporation, Feintool International Holding AG, Iskra Avtoelektrika d.d., KYB Co., Ltd, Moog, Inc., Nabtesco Corporation, Nachi-Fujikoshi Corp, Parker Hannifin Corporation, Sauer-Danfoss Inc, Toshiba Machine Co Ltd, Wipro Infrastructure Engineering Ltd., and Yuken Kogyo Co Ltd.

The research report titled "Hydraulic Equipment: A 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 value sales for 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. Key segments analyzed in the report include Accumulators and Filters, Cylinders, Power Packs, Pumps and Motors, and Valves, among others.

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

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