Hydraulic Fluid Connectors Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2012 To 2022
Hydraulic Fluid Connectors Market (By Type (Mobile Hydraulic Fluid Connectors and Stationary Hydraulic Fluid Connectors), By End-use Application (Construction and Earth Moving, Aerospace, Agriculture, Industrial Manufacturing and Material Handling, Automotive, and Others (Mining, etc)) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025 the global hydraulic fluid connectors market is expected to grow at a compound annual growth rate of 7.5% during the forecast period 2017 – 2025.
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Product Insights
Hydraulic fluid connectors are fluid transportation equipment that are used to transport liquids from one location to another in hydraulic applications for power transmission. Fluid connectors including hoses, couplings, manifold, and associated assemblies and fittings are used to transfer liquids for different hydraulic applications in industry verticals such as construction and earth moving, aerospace, agriculture, industrial manufacturing and material handling, automotive, mining, and oil and gas among others. The construction industry, particularly in developed economies like North America and Europe witnessed a gradual slowdown during the recent economic recession. However, the construction and real estate industries in these economies have shown signs of recovery, which would have positive impact on fresh demand for fluid connectors. On the other hand, ever-rising population and growing urbanization are major factors supporting market demand in developing economies. The major boost is expected to come from industrial and agricultural sectors. Growing industrial automation resulting in increased industrial production is driving demand for industrial equipment, and hence hydraulic fluid connectors. The prevailing trend towards agricultural mechanization and government support to promote use of automated equipment for agricultural processes is also expected to fuel market momentum.
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Competitive Insights:
The global hydraulic fluid connectors market is highly matured and concentrated. The top four manufacturers accounted for over 45% of the global market revenue in 2016. Parker Hannifin Corporation (the U.S.), Eaton Corporation (the U.K.), and Gates Corporation (the U.S.), are identified as the leading hydraulic fluid connector manufacturers. Other manufacturers including Manuli Hydraulics, RYCO Hydraulics Pty. Ltd., SPX Corporation, Kurt Hydraulics, ITT Corporation, Aerocom Specialty Fittings Inc., B&E Manufacturing Company, Inc., and Atlas Specialty Products have been marked as promising and emerging players in the hydraulic pumps market. The market for hydraulic fluid connectors being matured is plagued by lack of product innovation, leading to profit crunching due to price wars among manufacturers. Lack of product innovation along with threat from substitute technology (pneumatic fluid power) is the major challenges to the growth of hydraulic fluid connectors market. Thus, focus on product enhancement remains the key strategy for manufacturers.
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