Lucintel Forecasts Hydraulic Filter Market to Reach $6.8 Billion by 2024

According to the recent study the hydraulic filter market is projected to reach an estimated $6.8 billion by 2024, at a CAGR of 3.6% from 2019 to 2024. Growth in this market is primarily driven by 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 113 figures / charts and 78 tables in this 175-page report to understand trends, opportunities and forecast in hydraulic filters market by product (suction side filter, pressure side filter, return side filter, off-line filter, and in-tank breather filter), by end use industry (construction machinery, mining, petrochemical, marine, transportation), mode of distribute channel (OEM and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Pressure side filter market is expected to remain the largest segment during the forecast period.”

Based on product type, the hydraulic filter market is segmented into suction side filter, pressure side filter, return side filter, off-line filter, and in-tank breather filter. Lucintel forecasts that the pressure side filter market is expected to remain the largest segment and it is also expected to witness the highest growth over the forecast period as these filters are designed to clean the fluid to protect the pump and other sensitive components.

“Within the hydraulic filter market, the construction machinery segment is expected to remain the largest system”

Based on end use industry, the construction machinery segment is expected to witness the largest segment over the forecast period due to increasing production of construction machinery.

“Asia Pacific will dominate the hydraulic filter market in near future”

Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to increasing production of construction machinery, high investment in infrastructure, and government plans for smart cities.

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Major players of hydraulic filters market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Parker Hannifin, Mahle, Donaldson, Eaton, UFI FILTERS, Danaher, Bosch Rexroth, SMC Corporation, Caterpillar, and Yamashin are among the major Hydraulic filters providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/hydraulic-filter-market.aspx or helpdesk@lucintel.com