LONDON, Nov. 24, 2016 /PRNewswire/ --
Compact, Integrated, and Smart Solutions Unlock New Growth Opportunities Linked to the Industrial Internet of Things Landscape
The global mobile hydraulic equipment market is estimated to experience an approximate 3% compound annual growth rate (CAGR) from 2015 to 2020. This market constitutes more than 60% of the of the total hydraulics market revenue that includes both industrial and mobile applications.
The objective of this study is to identify strategic opportunities for hydraulic manufacturers by extensively analyzing routes toward expansion of their current product and service portfolios. It analyzes both current and future trends impacting the mobile hydraulic market in uncertain economic conditions and in light of constantly changing end-user needs. In particular, the trend towards integrating hydraulic components with electronics is gaining higher traction in the market. This is predominately due to the ability to offer greater control and accuracy over the equipment operation. Additionally, this lays the foundation to enhance hydraulic capabilities as smart and intelligent systems.
With 2015 as the base year, the research provides estimates of the market size and future growth prospects up to 2020. For this purpose, a specific methodology is followed that includes discussion with senior management of hydraulic manufacturers that is supported by secondary research.
- In-depth analysis with market sizing of product segments: Pumps, motors, valves, cylinders, transmission, accumulators and filters, and accessories
- Regional perspective of demand pattern in various advanced and emerging markets: North America, Europe, Middle East and Africa, Asia-Pacific, and Rest of World
- New product capabilities: integration with electronics, compact, modular, and intelligent hydraulic systems
- Acceptance of such advanced capabilities by various end user markets: construction, agriculture, material handling, oil and gas, aerospace and defense, and mining
These solutions are widely adopted for operations under harsh environment conditions and remain a preferred choice for end users by embedding the latest technology.
Vested interest in new technologies reflects end users desperate search for solutions that reduce carbon footprint and system vibration while simultaneously increase turnaround time and miniaturization. The study offers a holistic picture of the opportunities, challenges, and threats for the mobile hydraulic equipment markets across the globe and emphasizes the key initiatives propelling growth.
Key Questions this Study will Answer
- Is the market growing? If yes, what are the main areas of opportunity for the manufacturers?
- What are key trends emerging in the hydraulic market and what impact will they have on the growth prospects of this industry?
- What are the key challenges faced in the mobile application market?
- What key Mega Trends are influencing the growth of the hydraulic market and what are the potential impacts in the long term?
- With the emergence of Industrial Internet of Things (IIoT), how is it expected to impact the hydraulic market?
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