The global filter, regulator, and lubricator assemblies market to grow at a CAGR of 5.01% during the period 2017-2021.
The report, Global Filter, Regulator, and Lubricator Assemblies Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is the use of FRL assemblies in power tools. Pneumatic tools are powered by passing compressed air through an air motor. The action here is similar to a wind blowing against a windmill to turn a drive shaft, where the rotary motion is finally transferred to the fastener.
According to the report, one of the major drivers for this market is the increasing demand for HVAC replacements. The growing awareness about the need to reduce operating costs, increase energy efficiency, and take advantage of favorable government incentives have spurred the replacement of existing HVAC equipment in the UK, the US, Japan, and Germany. In the US, the steady economic development also influences the replacement demand for HVAC. It is expected that 50% of the growth in the HVAC market in the country will stem from replacement demand for these systems.
Further, the report states that one of the major factors hindering the growth of this market is the slowdown in the Chinese economy. China's economy grew substantially during 1979-2014 and avoided major economic disruptions during the same period. According to the World Bank estimates, China's annual GDP averaged nearly at 10%, which means the country doubled the size of its economy every eight years.