NEW YORK, March 22, 2017 /PRNewswire/ -- Hydraulic parts are the crucial components to modern equipment manufacturing. The global hydraulic parts market size approximated USD35.2 billion in 2016, up about 2.6% year on year. Driven by the growth of global and Chinese machinery and equipment markets, the world's hydraulic parts market will continue to grow and may fetch USD46.6 billion by 2021.
China, the second largest hydraulic parts market around the globe, accounts for roughly 24% of the global hydraulic market scale. Due to the downturn of construction machinery and other major downstream industries, Chinese hydraulic parts market valued about RM58 billion in 2016, down 0.5% year on year. The construction machinery industry showed obvious sign of recovery in early 2017; coupled with "Made in China 2025", China's Thirteenth Five-Year Plan for Intelligent Manufacturing, "the Belt and Road Initiatives" and other positive policies, Chinese hydraulic parts market will resume growth progressively, and is expected to garner RMB75.9 billion by 2021.
The China-made hydraulic parts has prevailed in the medium and low-end market domestically for a long time, while the high-end hydraulic parts market is monopolized by Kawasaki Precision Machinery, Eaton, Rexroth, Linde and other foreign-funded enterprises.
In order to break through the development bottleneck of domestic high-end hydraulic parts, China has introduced a number of policies. Hengli Hydraulic, Taiyuan Heavy Machinery Group Yuci Hydraulics, Huade Hydraulic and other local enterprises have speeded up their layout of high-end hydraulic parts through acquisitions, independent R & D and other approaches. In 2016, Hengli Hydraulic deployed high-end hydraulic pump valves by taking over HAWE Inline and set up a new factory in Changzhou city to achieve local production; meanwhile, Taiyuan Heavy Machinery Group Yuci Hydraulics started to build a new high-end hydraulic product (Jinan city of Shandong province) production & research base. As multiple high-end hydraulic parts projects go into operation, China will be able to produce about 60% of high-end hydraulic components and systems independently by 2021.
In addition to high-end hydraulic products, industry 4.0 and mechanical-electrical-hydraulic integration will become the hydraulic industry's main trends in the future under the impetus of the Internet, intellectualization and so forth.
Global and China Hydraulic Industry Report, 2017-2021 by ResearchInChina highlights the following:
Global hydraulic industry scale, regional pattern, corporate pattern, etc.;
Policies on Chinese hydraulic industry, status quo of the industry, existing problems in the industry, corporate pattern, etc.;
Production, sales, import and export, price of hydraulic parts in China, status quo and trends of construction machinery hydraulic parts, etc.;
Development of hydraulic cylinders, hydraulic pump valves, hydraulic hammers, etc. in China;
Operation, development strategies, etc. of 23 global and Chinese key hydraulic enterprises.
Read the full report: http://www.reportlinker.com/p0969002-summary/view-report.html
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