Opportunities for the global hydraulic filter market to grow at a CAGR of 4.4% by 2023

According to a new market report published by Lucintel, the future of the global hydraulic filter market looks promising with opportunities in the construction machinery, mining, petrochemical, aerospace, marine, and transportation industries. The global hydraulic filter market is forecast to grow at a CAGR of 4.4% from 2018 to 2023. The major drivers of growth for this market are increasing production of construction, mining, and other equipment, development of innovative and energy efficient hydraulic filters, and increased focus on preventive maintenance of hydraulic equipment and systems.

In this market, construction machinery, mining industry, petrochemical industry, agriculture, aerospace, and transportation are some of the major segments of the hydraulic filter market by end use application. On the basis of its comprehensive research, Lucintel forecasts that the construction machinery and mining industry segments will show above average growth during the forecast period.

By product type, pressure side filter, suction side filter, return side, off-line filter, and in-tank breather filter, are the major segments of the hydraulic filter market. Suction side filter is expected to show above average growth rate during the forecast period due to its low cost which can be accommodated in all types of equipment.
APAC is expected to remain the largest region due to high production of construction machinery, high investment in infrastructure, government plans for smart cities.
Asia Pacific and Europe are expected to witness significant growth over the forecast period because of rapidly increasing demand for hydraulic filter products from OEMs.

Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of new micro glass materials, a unique six layer design that delivers 50% more dirt holding capacity, and development of new cyclone effect technology. Parker Hannifin Corp., Mahle International GmbH, Donaldson Company Inco, Eaton Corporation Plc., and UFI Filters are the major hydraulic filter suppliers in the global hydraulic filter market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global hydraulic filter market by product type, end use industry, mode of distribution channel, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Hydraulic Filter Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global hydraulic filter market by product type, end use industry, mode of distribution channel, and region, as follows:

By End Use Industry ($ Million and Thousand Units from 2012 to 2023)
• Construction Machinery
• Mining Industry
• Petrochemical Industry
• Aerospace
• Transportation
• Marine
By Product Type ($ Million and Thousand Units from 2012 to 2023)
• Pressure Side filter
• Suction Side filter
• Return Side filter
• Off-Line filter
• In-Tank Breather Filter
By Mode of Distribution Channel ($ Million and Thousand Units from 2012 to 2023)
• OEM
• Aftermarket
By Region ($ Million and Thousand Units from 2012 to 2023)
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Spain
o United Kingdom
o Italy
• Asia Pacific
o China
o Japan
o Taiwan
o India
o Indonesia
• The Rest of the World
o Brazil
This 189-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Construction Market Report, Construction Reports, SWOT Matrix, Due Diligence and Mergers & Acquisitions.

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. Lucintel, offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Lucintel LLC
222 Las Colinas Blvd West, Suite 1650, Irving, TX 75039, USA
Ph: +1-972-636-5056 Fax: +1-877-883-5140
marketing@lucintel.com

This release was published on openPR.