Global Hydraulic Equipment Market for Mobile Applications 2016-2020
About Hydraulic Equipment
Hydraulic equipment uses pressurized fluid to perform various machinery operations. Different types of fluids, including synthetic fire-resistant, phosphate ester fire-resistant, and petroleum-based fluids are used in hydraulic equipment. An engine is used to drive the pump to pressurize the hydraulic fluid. Hydraulic equipment is used in various mobile applications such as the automotive, construction, agriculture, aerospace, and marine industries.
Technavio’s analysts forecast the global hydraulic equipment market for mobile applications to grow at a CAGR of 6.38% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global hydraulic equipment market for mobile applications for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of hydraulic equipment.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hydraulic Equipment Market for Mobile Applications 2016-2020
Technavio recognizes the following companies as the key players in the global hydraulic equipment market for mobile applications: Bosch Rexroth, Eaton, Kawasaki Heavy Industries, and Parker Hannifin.
Other Prominent Vendors in the market are: Brevini Fluid Power, Dongyang Mechatronics, Moog, WEBER-HYDRAULIK, and Wipro Infrastructure Engineering.
Commenting on the report, an analyst from Technavio’s team said: “One trend gaining traction in this market is the rising demand for fire-resistant hydraulic fluids. Fire-resistant hydraulic fluids that offer many benefits and inherent safety characteristics are increasingly used in hydraulic equipment. Fire-resistant hydraulic fluids were developed to suit the high safety requirements of industries such as steel production and underground mining. In the steel industry, fire-resistant hydraulic fluids are required to ensure safe working conditions for hydraulic applications in coke ovens, ladle furnaces, slide gate systems, electric arc furnaces, and continuous casters.”
According to the report, mechanization of agriculture and growth in agriculture machinery market will drive growth in the market for hydraulic equipment. Meeting worldwide agricultural productivity targets to fulfill the estimated demand for food, fiber, and fuel by 2050 is a significant challenge for the global agriculture industry. Increased mechanization helps to overcome various agricultural constraints such as unskilled labor, limited arable land, and scarce resources to meet the 2050 targets.
Further, the report states that the global mining sector faced several challenges in 2015 due to factors like geopolitical turmoil, increasing costs, price volatility, the decline in the quality of mined products, and lack of adequate financing. With the drastic fall in the price of commodities, mining companies found it quite difficult to recalibrate. In 2016, the industry still faces a host of unresolved issues like declining demand for mined products.
Bosch Rexroth, Eaton, Kawasaki Heavy Industries, Parker Hannifin, Brevini Fluid Power, Dongyang Mechatronics, Moog, WEBER-HYDRAULIK, Wipro Infrastructure Engineering.
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