Transparency Market Research in its new report titled, “Industrial Hydraulic Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the industrial hydraulic equipment market. The TMR report anticipates that the Rise in preference for electro-hydraulic products in various industrial end-users will drive the industrial hydraulic equipment market during the forecast period i.e, 2018-2026. Industrial hydraulic equipment offers various features such as corrosion and temperature resistance and high durability. It can also work in heavy duty applications, says the report.
The TMR report has segmented the industrial hydraulic equipment market in terms of product, end-use, and region. On the basis of product, the market is divided into motors, pumps, valves, transmissions, cylinders, accumulators, filters, and others (fittings, hoses, couplings, and tubes). On the basis of end-use, the market is split into hydraulic press, machine tools, plastics, automotive, water and wastewater, food and beverage, renewable energy, oil and gas, entertainment, simulators, and others. Hydraulic systems have been engaged in industrial applications across a number of industries for many years. Hydraulic press machines and machine tools play an important role in a large number of industrial applications. Thus, these segments account for major share of the global market. Machine tools are widely used in downstream industries such as aerospace and automotive. Demand for into hydraulic press, machine tools and other applications are increased in automotive, aerospace, food and beverage, and marine industries continues to ensure the acceptance of hydraulic equipment.
Rising demand for energy is driving the oil & gas industry and renewable energy sources, the report states. Oil and gas exploration and production companies strive to locate new oil and gas reservoirs in order to meet the rising demand for energy. These companies are investing in drilling technologies that help locate offshore and onshore oil and gas reserves. Therefore, these activities are augmenting the industrial hydraulic equipment market in oil and gas application. Industrial hydraulic equipment is used in jack-up platforms, jack-up vessels, catenary anchor leg mooring systems, pipe-laying vessels, and floating production storage and offshore facilities (FPSO). Development in underwater technologies has enabled companies to perform operations at deep and ultra-deep water with the specialized hydraulic equipment. Thus, companies are able to perform drilling operations in deep and ultra-deep waters owing to the advancement in technologies.
From a regional perspective, the industrial hydraulic equipment market is categorized into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Of these, Europe accounts for significant share of the industrial hydraulic equipment market, driven by a large manufacturing base in the region. It is expected to maintain its leading position during the forecast period. Increase in oil and exploration and production activities, advancement in underwater exploration activities, and shale gas discovery in the U.S. are the key drivers of the industrial hydraulic equipment market in North America. Rise in investment by exploration and production companies after the economic slowdown is another factor driving the industrial hydraulic equipment market. The capital intensive nature of the market and implementation of stringent government regulations are the prominent restraints of the market. Oil and gas discoveries in West Africa and shale gas boom in Argentina is likely to act as opportunities for the Industrial hydraulic equipment market. Major players operating in the global industrial hydraulic equipment market are profiled in this report and these include Daikin Industries, Bosch Rexroth, Kawasaki Heavy Industries, Essem Engineers, Metro Hydraulic Hack Co., Grimo Presses Inc., Parker Hannifin, Anker-Holth, Bishamon, Delta Power Co., Aero Controlex, and Eaton.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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