Automotive, Aerospace and Construction Sectors to Drive Global Market for Hydraulic Components to Reach $83 Billion by 2027

By -

Industry Experts, Inc. published an updated 2022 version of the market research report on Hydraulic Components. The new version of this report includes the analysis of impact and recovery of COVID-19 on the global Hydraulic Components market. Asia-Pacific and South America are expected to grow relatively faster while developed regions such as North America and Europe are projected to witness the slower growth during the same analysis period.

The aftereffects of COVID-19 continue to linger even now, with some global regions reporting a sudden spurt in the number of new cases owing to newer and unspecified variants. Hydraulic Components are used in a variety of industrial areas, several of which witnessed a decline in activity during the pandemic period, thereby adversely impacting demand for them. However, a look at the market figures for Hydraulic Components between the worst years of 2019 to 2021 put forth a picture of cautious optimism, as, compared to other sectors, declines in terms of region, product type and application have not been too steep. This trend is likely to continue and growth would turn positive by the end of 2022, provided (and this is a big provided) the global economy is not again shattered by a blow in terms of another devastating wave labeled as COVID-22.

Cylinders account for the largest share of the global Hydraulic Components market, estimated at about 35% in 2022, which is expected to maintain a 2022-2027 CAGR of 4.5% in reaching a projected US$29 billion by 2027 while Hydraulic Power Units, however, is likely to record the fastest similar period CAGR of 5% and reach a projected US$8.3 billion by 2027.



The Hydraulic Components product types market analyzed in this report includes Accumulators, Control Valves, Cylinders, Filters, Power Units, Pumps & Motors and Other Hydraulic Components. The study also explores the market by end-use industry including Aerospace & Defense, Agricultural Machinery, Automotive, Construction Machinery, Marine, Material Handling Equipment and Other End-Use Industries.

The report reviews, analyzes and projects the Hydraulic Components market for global and the regional markets including the North America, Europe, Asia-Pacific, South America and Rest of World for the period 2018-2027 in terms of value in USD. These regional markets further analyzed for 15 independent countries across North America – The United States, Canada and Mexico; Europe – France, Germany, Italy, Russia, Spain and the United Kingdom; Asia-Pacific – China, India, Japan and South Korea; South America – Argentina and Brazil. The market is analyzed in all these major regions by key countries, product segments and by major end-use sectors in terms of USD.

This 478 page global Hydraulic Components market report includes 321 charts (includes a data table and graphical representation for each table), supported with a meaningful and easy to understand graphical presentation, of the market. This report profiles 28 key global players and 47 major players across the North America – 12; Europe – 20; and Asia-Pacific – 15. The report also provides the listing of the companies engaged in research & development, manufacturing and supply of Hydraulic Components. The global list of companies covers addresses, contact numbers and the website addresses of 553 companies.

California, USA based Industry Experts, Inc. is a multi-industry focused market research provider.

For more details, please visit: https://industry-experts.com/verticals/construction-and-manufacturing/hydraulic-components-a-global-market-overview

Comments

Post a Comment

Popular posts from this blog

Demand for Europium to Reach US$373.3 million by 2030 Fostered by Phosphors and Consumer Electronic Applications

By -
Image
Industry Experts, Inc., has released its latest report on Europium Market , which projects the demand for the same to reach US$373.3 million by 2030 from an estimated US$267.1 million in 2024 at a CAGR of 5.7% between the two years. The demand for Europium in the global market is primarily being driven by a number of factors that include increasing demand of phosphors in various applications for making high-quality displays that offer higher cooling, energy efficiency and brightness in products, such as OLEDs & LCDs, which are used in televisions, smart phones, wearables  and other electrical & electronic equipment. Technological advancements have enhanced the methods of extracting, purifying and separating europium from other ores, thereby positively impacting its availability to manufacturers. Heavy investments in R&D for improving performance and overcoming supply challenges of this metal have determined the global market in yielding innovative solutio...
Read more

Oil & Gas Fuels Demand for Duplex Stainless Steel and Global Market to Reach $6 billion by 2030

By -
Image
Industry Experts, Inc., has released its latest report, on Duplex Stainless Steel market, which projects the demand for the same to reach US$6 billion by 2030 from an estimated US$4.4 billion in 2024 at a CAGR of 5.4% between the two years. Some of the factors instrumental in driving demand for Duplex Stainless Steel include its widespread use in the oil & gas industry in the form of pipes & tubes. Comprising an almost equal proportion of austenitic and ferritic steels makes this variety of stainless steel very strong and highly resistant to corrosion, owing to which its application across various important end-use sectors has been growing rapidly.  The construction & infrastructure industry is another major consumer of Duplex Stainless Steels, as they are ideal for making bridges and other infrastructure projects. Apart from this, the chemical processing industry, subject to extreme operating environments, also makes extensive use of Duplex Stainless Ste...
Read more

Copper Demand to Reach US$368.8 B by 2030 Propelled by the Wide Range of Applications of the Metal Across Sectors

By -
Image
Industry Experts, Inc., has released its latest report, on Copper , which projects the demand for Copper to reach US$368.8 billion by 2030 from an estimated US$269 billion in 2024 at a CAGR of 5.4% between the two years. The use of copper and its alloys is quite extensive, contributing significantly to economic development. Major end-user sectors of this vital element include transportation, construction, consumer products, electrical & electronics and industrial machinery. The global demand for copper has been maintaining a steady growth, as statistics reveal a 300% growth in the use of refined copper over the last five decades across the industries mentioned above, reaching about 26.5 million tons in 2023. Other than being used in its primary form, copper is also among the most recycled materials, owing to which the market for secondary copper has been posting considerable growth. With an estimated share of about 41% in 2024, Asia-Pacific is the largest global marke...
Read more