Global Hydraulic Equipment Market to Reach US$38.9 Billion by 2015, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Hydraulic Equipment market. Although currently tempered by the global economic recession, the world market for hydraulic equipment is nevertheless expected to recover poise and gain steady momentum over the next few years to reach US$38.9 billion by the year 2015. Primary factors fingered to drive this growth include technology advancements, improving financial health across end-use industries and resurgence in replacement demand. Encouraging infrastructure development in developing markets, particularly Asia-Pacific, is expected to additionally help support the market’s growth.
San Jose, CA (Vocus) September 10, 2010
As a technology that utilizes fluid power to generate mechanical power, hydraulics outshines its nearest competing technology pneumatics. Today, hydraulic equipment is used in a wide range of application markets covering agriculture, military, construction, industrial machinery, oil & mining and automotives, among others. In the automotive sector, hydraulic systems are used in forklift trucks, aircrafts and cranes, among others. The international market is characterized by maturing end-use applications, heightened competition, declining revenues, and increased bargaining power of consumers. The market continues to witness significant consolidation at manufacturers’ as well as at distributors’ end triggered by the need to assimilate comprehensive end-to-end manufacturing, and distribution capabilities.
Market prospects for hydraulic equipment are largely dependent on the health of key end-use markets and the setback witnessed in value and volume sales of hydraulic equipment over the last two years thus comes as no surprise. The erosion in market value can be particularly attributed to the impact of the economic slowdown on the construction and industrial machinery sector, which are among the most prominent end-use markets for hydraulic equipment across the globe. Sales of earthmoving and mining equipment have especially come 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, has tranquilized demand for most construction equipment such 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 the financial meltdown, demand for hydraulic components used in industrial machinery also 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.
Other factors expected to drive growth in the hydraulic equipment market in the post recession period include technology innovations, and adroit marketing strategies that squarely target newer, revenue generating, emerging product markets. As stated by the new market research report on hydraulic equipment, the US continues to remain the largest regional market for hydraulic equipment. Replacements and upgrades generate a lion’s share of the demand in this market. Asia-Pacific (excluding Japan) is the fastest growing regional market poised to reach US$5.9 billion by the year 2012, driven largely by rapid industrialization and infrastructure development.
By product, the pumps and motors market represents the largest segment. The Valves market is the second largest product market. Strong demand for Liquefied Natural Gas (LNG) as an inexpensive and clean source of electricity, especially in developing countries, is creating substantial demand for transportation, storage, and distribution infrastructure, which require huge quantities of control vales, thereby driving demand for hydraulic valves.
Major players in the marketplace include Bailey International Corporation, Bosch Rexroth Corporation, Daikin Industries Ltd., Dongyang Mechatronics Corporation, Eaton Corporation, Feintool Group, Iskra Avtoelektrika, Kayaba Industry Company Ltd, Moog Inc., Nabtesco Corporation, Nachi-Fujikoshi Corp, Parker Hannifin Corporation, Commercial Hydraulics Inc, Sauer-Danfoss Inc, Toshiba Machine Co Ltd, Wipro Infrastructure Engineering Ltd., and Yuken Kogyo Co Ltd, among others
The research report titled "Hydraulic Equipment: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, product developments, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections across product segments that include Accumulators and Filters, Cylinders, Power Packs, Pumps and Motors, Valves and Other Hydraulic Equipment. Key Geographic regions quantitatively sized include the United States, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America.
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 reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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Web Site http://www. StrategyR. com/
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