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Sedate Growth in Mining Sector Affects the Global Hydraulic Equipment Market for Mobile Applications

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Published on : Nov 08, 2016

ALBANY, NY, Nov 08, 2016: The report “Global Hydraulic Equipment Market for Mobile Applications 2016-2020,” featured on ResearchMoz.us, delivers key insights about the global market using valuable inputs from industry experts. The report provides a comprehensive outlook for the global hydraulic equipment market for mobile applications with detailed segmentation of the industry according to application, components, and geography. 

Additionally, the report also discusses the current market size using sales and revenue figures from various sources and projects its growth scope from 2016 to 2020. The report forecasts that the global hydraulic equipment market for mobile application would register a healthy CAGR of 6.38% during the period from 2016 and 2020.

Hydraulic equipment use pressurized fluid such as phosphate ester fire-resistant, synthetic fire-resistant, and petroleum-based fluids, to operate machinery. Driven by an engine, a pump puts pressure on the hydraulic fluid. Hydraulic equipment are used in different mobile applications, including agriculture, automotive, aerospace, marine industries, and construction. 

One noticeable trend in the market is the demand for fire-resistant hydraulic fluids, which provide safety from fire. They were developed particularly for steel production and underground mining, which have stringent safety requirements. In the steel manufacturing, for example, fire-resistant hydraulic fluids find application to ensure safe working environment in slide gate systems, coke ovens, electric arc furnaces, ladle furnaces, and continuous casters.

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Having detailed such current trends, the report also throws light on drivers and restraints influencing the market. The increasing mechanization of agriculture on account of the growing demand for agricultural produce worldwide will provide a major boost to the demand for hydraulic equipment, which find application in agriculture machinery. With a burgeoning world population, which will increase manifold by 2050, the demand for food, fuel, and fiber would go up in response as well and this would further provide impetus to the hydraulic equipment market.

Another sector, the report finds is propelling the market is construction. The segment has seen a steady growth, particularly in highly populated developing countries. Some of the restraints listed in the report are the steep maintenance cost of hydraulic equipment. Further the growing preference for pneumatic equipment and fully electrical systems is also countering growth. Mining industry, which is one of the key buyers of hydraulic applications, witnessed a slowdown in 2015 because of geopolitical turmoil, tanking commodity prices, increasing costs and lack of demand – all of which are slated to continue in the near future. This has dampened demand for hydraulic equipment and would continue affecting it negatively in the future.

The research segments the hydraulic equipment market for mobile applications by components into valves and pumps and motors. It also divides it on the basis of application into aerospace, construction and material handling, marine, and automotive. Geographically the market is divided into Asia Pacific, Americas, and Middle East and Africa. Some of the prominent vendors listed in the report are Kawasaki Heavy Industries, Bosch Rexroth, Parker Hannifin, and Eaton

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