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Hydraulic Filters Market size to reach $6 Bn by 2032
- Published Date: April 3, 2023
Hydraulic Filters Market size is expected to cross USD 6 billion by 2032, according to the latest research report by Global Market Insights Inc.
Rising infrastructure development activities in the Asia Pacific will foster the industry growth. The hydraulic system is mostly joined to a moving vehicle on a construction site to provide mobility. They consist of backhoes, trenchers, loaders, dump trucks, wheel tractor scrapers, graders, pavers, compactors, tower cranes, telehandlers, feller bunchers, and piling equipment. The rising use of hydraulic systems in construction equipment will increase the demand for hydraulic filters by 2032.
Improve equipment lifespan of suction side filters
The hydraulic filters market from the suction side filters is predicted to hit USD 1.7 billion by 2032. These filters are employed in hydraulic systems between the hydraulic pump and the oil reservoir to protect the downstream hydraulic pump from pollutant particles. Also such pollutants are typically produced by inadequate initial cleaning or unintentional ingression. The lifespan of the finer downstream filtration is prolonged and reduces the load on the finer filter.
Rising mining activities worldwide to fuel product demand
The industry size from the mining sector is forecasted to observe more than 6% CAGR from 2023 to 2032. At every stage of mining, hydraulic systems are required as it involves a lot of dust, vibration and noise. Mining machinery like haul trucks, drills, shovels, dozers, excavators, etc. requires hydraulic systems. Increasing use of excavation machinery rigged with drilling tools to break stones, forklifts and trucks to move the waste materials around, and more will influence market growth by 2032.
Browse key industry insights spread across 300 pages with 287 market data tables & 41 figures & charts from the report, “Hydraulic Filters Market Size By Type (Pressure side filters, Return side filters, Suction side filters, Off-line filters, In Tank-breather filter), By Application (Automotive, Aerospace, Construction Equipment, Industrial, Marine, Mining Industry, Petro-chemical Industry) & Forecast, 2023 – 2032” in detail along with the table of contents:
Robust government investments in the US defense sector
North America hydraulic filters market is anticipated to amass USD 1.6 billion by 2032. The aerospace, automotive, and defense sectors in the US are the main drivers influencing the demand for hydraulic systems, making these filters equally essential across these sectors. The rising use of material handling equipment and strong per capita purchasing capability in the region will fuel market statistics. Rising purchasing power, advanced manufacturing, and investments by the government and private sector in the defense sector will complement regional industry expansion.
Strategic mergers and acquisitions by leading market players
Some of the leading companies in the global hydraulic filters business scenario are Donalson, Filtration Group Corporation, Eaton Corporation plc, Pall Corporation, HYDAC TECHNOLOGY Limited, Caterpillar, Henan Top Environment Protection Equipment Co., Bosch Rexroth, Lenz Inc., MP Filtri S.p.A, Mahle, Parker Hannifin Corp., UFI Filters, and YAMASHIN-FILTER CORP., and Samuel Filter. Companies are developing new strategies to improve their revenues and increase their geographic scope.