DALLAS, Aug. 14, 2019 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the hydraulic filter market looks promising with opportunities in the construction machinery, mining, petrochemical, aerospace, marine, and transportation industries. The hydraulic filter market is expected to reach an estimated $6.8 billion by 2024 with a CAGR of 3.6% from 2019 to 2024. The major drivers for this market are increasing production of construction, mining, and other equipment, stringent government regulations for environmental pollution, and increased focus on preventive maintenance of hydraulic equipment and systems.
Browse 78 market data tables and 113 figures spread through 175 pages and in-depth TOC on "Hydraulic Filter Market" at https://www.lucintel.com/hydraulic-filter-market.aspx
In this market, construction machinery, mining industry, petrochemical industry, marine, aerospace, and transportation are used for hydraulic filter manufacturing for end use industry. On the basis of comprehensive research, Lucintel forecasts that the construction machinery and mining industry segments will show above average growth during the forecast period.
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APAC is expected to remain the largest region due to high production of construction machinery, high investment in infrastructure, government plans for smart cities.
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Emerging trends, which have a direct impact on the dynamics of the hydraulic filter 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 among the major suppliers of hydraulic filter.
Lucintel, a leading global market research firm has analyzed growth opportunities in the hydraulic filter market by product type, end use industry, mode of distribution channel, and region has compiled a comprehensive research report entitled "Growth Opportunities in the Hydraulic Filter Market 2018-2023: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the hydraulic filter market by product type, end use industry, mode of distribution channel, and region.
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