Hydraulic Equipment Market Growing at 5.25% CAGR Driven by Growth in Construction Industry to 2020
PUNE, India, June 16, 2016 /PRNewswire/ --
The global hydraulic equipment market growth is primarily driven by growth in the construction industry and rise in various construction activities in developing countries has led to high demand for hydraulic equipment. Various construction activities such as the construction of roads, railways, housing, infrastructure, and airports have contributed to the growing demand for earthmoving equipment such as excavators, loaders, bulldozers, and cranes. All these equipment use hydraulic equipment, thereby fostering the growth of the global hydraulic equipment market during the forecast period.
Complete report on hydraulic equipment market spread across 77 pages, analyzing 5 major companies and providing 34 data exhibits is now available at http://www.rnrmarketresearch.com/global-hydraulic-equipment-market-2016-2020-market-report.html.
The analysts forecast global hydraulic equipment market to grow at a CAGR of 5.25% during the period 2016-2020.A key trend which will have a positive impact on the hydraulic equipment market is the rising demand for fire-resistant hydraulic fluids. Fire-resistant hydraulic fluids are being increasingly used in hydraulic equipment as they offer many benefits and inherent safety characteristics. Fire-resistant hydraulic fluids were formerly developed to suit high safety requirements of industries such as steel production and underground mining. In the steel industry, fire-resistant hydraulic fluids are required to provide safe working conditions for hydraulic applications in coke ovens, ladle furnace, slide gate systems, electric arc furnace, and continuous caster. However, in the past few years, many other industries such as construction, aluminum, power, foundry, automobile, offshore, paper manufacturing, and other process industries are utilizing fire-resistant hydraulic fluids for their technical and commercial benefits. Hydraulic equipment operating under extreme heat may suffer from the risk of oil leakage, resulting in a high fire risk. Hence, vendors are now more focused on developing equipment with fire-resistant fluids to reduce the potential risk of fire.
The global hydraulic equipment market is highly fragmented with the presence of many vendors worldwide. The market is characterized by the presence of well-diversified international, regional, and local vendors. Several local and regional vendors provide hydraulic equipment such as pumps, cylinders, and valves with a high level of customization at a comparatively lower price than international vendors. Although new vendors are entering the market, they find it difficult to compete with international vendors in terms of quality, features, functionalities, and services. The competitive environment in hydraulic equipment market is expected to intensify with the growth of product extensions, technological innovations, and M&A. It is expected that during the forecast period, international players will grow inorganically by acquiring regional or local players
The following companies are the key players in the global hydraulic equipment market: Bosch Rexroth, Daikin Industries, Eaton, Kawasaki Heavy Industries, and Parker Hannifin. Other prominent vendors in the market are: Bailey International, Dongyang Mechatronics, Feintool International, KYB, Moog, Toshiba Machine, and Wipro Infrastructure Engineering. Order a copy of Global Hydraulic Equipment Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=607534.
Global Hydraulic Equipment Market 2016-2020, 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 report covers the present scenario and the growth prospects of the global hydraulic equipment market for 2016-2020. The market size is calculated from revenue generated from sales of hydraulic equipment worldwide.
Another related report is Global Conveyor Belt Market 2016-2020, the analysts forecast global conveyor belt market to grow at a CAGR of 3.71% during the period 2016-2020. a key growth driver is the rising demand for emerging economies. Another major driver of the global conveyor belt market is the increase in demand from growing economies of developing regions. Many international corporations from developed countries have set up production facilities in APAC, especially in countries such as India and China, because of the availability of cheaper factors of production such as labor, raw material, and equipment. The spurt in the growth of manufacturing activities has enhanced the adoption of conveyor systems in this region. Moreover, higher spending power, improved standard of living, and higher GDP are increasing the demand for manufactured goods, which in turn is leading to the growing adoption of these automated systems. Browse complete report @ http://www.rnrmarketresearch.com/global-conveyor-belt-market-2016-2020-market-report.html.
Explore other new reports on Machines & Equipment Market @ http://www.rnrmarketresearch.com/reports/manufacturing-construction/machines-equipment.
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