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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 te...

Industry Experts, Inc. published an updated version of the market research report on Hydraulic Components. The new version of this report includes the impact of COVID-19 on the global Hydraulic Components market . Asia-Pacific and South America are expected to grow by a relatively faster growth while developed regions such as North America and Europe are projected to witness the slower growth during the same analysis period. The COVID-19 crisis that has the world in its grips has taken a toll of the hydraulic components industry, too, although not to the devastating extent to which other sectors have been affected. Marginal declines are likely to be witnessed across the board over 2019-2020 and some semblance of growth can be expected only towards mid-2022. However, this positive outlook depends on how the pandemic situation pans out over the coming months and how economies react to developments. Ill-thought out lockdowns being imposed by governments based on the ground situation that...

Industry Experts published the new global market research report on Hydraulic Components. As per the new report ‘ Hydraulic Components – A Global Market Overview ’, the worldwide market for Hydraulic Components is projected to reach US$67.3 billion by 2022 from an estimated US$49.6 billion in 2016 growing by a compounded annual growth rate of 5.2% between 2016 and 2022. A growing impetus towards plant automation with a focus on enhancing productivity, reducing downtime and conserving energy has resulted in boosting demand for industrial hydraulic equipment designed for supporting process automation. Asian, Latin American and Middle Eastern regions have been at the forefront in plant and process automation, spurred on by the rapid pace of industrialization, development of manufacturing infrastructure and growth in GDP, a scenario ideal for robust growth in demand for hydraulics-based plant automation systems. Utilization of compact hydraulics in assembly automation provides several ta...