Press release
Hydraulic Valves Market: East Asia Remains in Forefront, Poised to grow ~1.3 Times Faster than Europe: Fact.MR's Study
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Further, effective integration of latest technologies such as 3D printing & Internet of Things (IoT) is expected to unlock future growth prospects in the global market. Prominent manufacturers are capitalizing significantly in their R&D endeavors to strike a fine balance between cost and effectiveness of hydraulic valves. The report estimates that the market is foreseen to expand by ~1.4 times to reach a valuation of ~US$ 2 Bn by end of 2029.
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Key Takeaways of Hydraulic Valves Market
Collectively, construction and agriculture machinery are foreseen to contribute nearly 41% to the overall value opportunity in the global market by 2029 end
Demand for hydraulic valves with flow rate of 201-500 L/min is projected to expand ~1.5 times as compare to 2019
North America will remain the most lucrative region across the projection period, accounting for more than 40% value share in the global market
Pressure Control valve is estimated to account for over one third of the overall hydraulic valve market value by end of the forecast duration
Automated operations are expected to grow 1.3 X faster than the manual operation segment over the course of forecast duration
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The hydraulic valve market can be construed as a fragmented market. Bosch Rexroth, Eaton Inc., Kawasaki Heavy Industries, Helios Technology, Enerpac Tools Group, Parker-Hannifin, Curtiss-Wright, Danfoss Industries and Hydraforce are the largest competitors in the hydraulic valve market. The competitors have been seen to be moving to East Asia & South Asia to gain a foothold. Furthermore, the top competitors are launching new products to meet the increasing demand of end-use industries. For Instance:
In December 2019, Sun Hydraulics launched a new FleX Series 3-way, direct-acting, solenoid-operated, directional blocking poppet valve. These new directional valves offer low leakage and are used for load holding applications
In October 2019, Kawasaki Heavy Industries introduced K3VLC85 variable displacement pump and KLSS18 directional control valve for agricultural equipment. KLSS18 valve is used in construction and can be designed to meet the needs of agricultural tractors by including features such as hitch control.
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About Fact.MR
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