Hydraulic Filter Market: Global Industry Development Scenario and Upcoming Opportunities Forecast through 2018-2028

Posted on 2019-08-09 by Mark Hub in Industrial // 0 Comments

The purpose of this comprehensive forecast report presented by Fact.MR is to elaborate the various market projections impacting the global hydraulic filter market during the period through 2018-2028. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the hydraulic filter market during the forecast period.

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In Brief

During 2013-2017, the hydraulic filter market revenues grew at a modest 3.5% CAGR, with a significantly high demand for hydraulic filters and lube oil filters in the aerospace industry.
In 2018, the hydraulic filter market reached US$ 1.8 billion and it is expected to record 4.0% y-o-y in 2019. With the rapidly expanding range of end-use applications of hydraulic filters, the global market is estimated to grow at a healthy 4.5% CAGR during the forecast period 2018-2028.
Asia Pacific is a leading market for hydraulic filters with over one-third revenue share of the global market. China will generate positive growth opportunities for hydraulic filter manufacturers despite fluctuating raw material prices in the Asia Pacific region.
Asia Pacific will continue to remain the high-growth market for hydraulic filters, as end-use industries in the region, such as power generation, construction, and steel industry, are likely to gain traction in the upcoming years.

What are the Key Growth Drivers of the Hydraulic Filter Market?

Development of new raw materials, such as micro glass materials, signify the stakeholders’ increasing efforts to boost innovations in the design and features of new models of hydraulic filters.
Leading manufacturers are introducing hydraulic filters to suit the specific requirements of end-users from diverse industries—aerospace and defense industry will remain a primary focus for most.
Increasing growth of the leading end-use industries, including marine, steel construction machinery, petrochemical, and transportation industries, are creating promising opportunities for manufacturers in the hydraulic filter industry.

What are the Key Challenges in the Hydraulic Filter Market?

High maintenance and replacement costs and increased downtime are among the key drawbacks of hydraulic filters, and end-users are likely to prefer more robust and cost-effective alternatives such as lubrication system filters.

Donaldson Company, Inc., Parker Hannifin Corp., Eaton Corporation Plc., Bosch Rexroth, Mahle International GmbH (Filtration Group Corporation), UFI FILTERS, HYDAC Verwaltung GmbH, Mann+Hummel Group, MP Filtri S.p.A., Walter Stauffenberg GmbH & Co. KG (Stauff), OMT S.p.A., Pall Corporation, Caterpillar Inc., SMC Corporation, and Yamashin Filter Corp are among the key companies in the hydraulic filter market.

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Return line filters and suction filters are among the most popular types of low-pressure hydraulic filters. However, a majority of end-users are choosing return line filters over suction filters, especially in open-loop applications, with growing needs for improved efficiency at maintaining high fluid cleanliness levels. In addition, installing hydraulic filters on a return line of an application ensures the availability of sufficient pressure for forcing the fluid through fine media. Moreover, improved performance characteristics, such as high chemical resistance, contamination retention capacity, and high burst pressure resistance, are likely to contribute to the increasing demand for return line filters in the coming future.

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