Return Line Filter Segment to Dominate North America Hydraulic Filters Market during 2019–2027
According to The Insight Partners market research study on “North America Hydraulic Filters Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Product and End-User” is expected to reach US$ 2,089.54 million by 2027 from US$ 1194.88 million in 2019. The market is estimated to grow at a CAGR of 7.3% from 2020 to 2027. The report provides trends prevailing in the North America hydraulic filters market along with the drivers and restraints pertaining to the market growth. Rising digitization is boosting demand for hydraulic filter is the major factor driving the growth of the North America hydraulic filters market. However, issues associated with passive design process and complex installation process to hinder the growth of North America hydraulic filters market.
The North America hydraulic filters market is segmented based on the product and end-user. Based on product, the North America hydraulic filters market is segmented into suction filter, pressure filter, return line filter, off-line filter, breather filter, and others. Return line filter is dominating the market during the forecast period. Based on end-user, the North America hydraulic filters market is segmented into manufacturing, marine, automotive, chemical and petrochemical, power generation, agriculture, construction, metal and mining, and others. Manufacturing segment held a substantial market share during 2017-2027.
Also the ongoing COVID-19 is having a very devastating impact over the North America region. Presently, the US is the worst-affected country due to the COVID-19 outbreak. North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation, the presence of a high-tech companies, and high purchasing power, especially in developed countries such as the US and Canada. The US is the worst-hit country in North America, with thousands of infected individuals facing severe health conditions across the country. The continuous growth of infected individuals had led the government to impose lockdown across the nation’s borders in last few months. As a result, several small & medium enterprise owners have limited their industry personnel whereas many other have laid off non-essential employees shortly owing to restricted business operation. In addition to this, the company also minimized the allocated budget for manufacturing of various hydraulic equipment’s, such as, hydraulic filters owing to economic slowdown, which affected the business activities. Moreover, the component manufacturer, supply chain and distributor lack of availability of business also has significantly influencing the production of hydraulic filters by the market players. Thus, the market is expected to witness a major drop in the demand from the end-users for the current year and the subsequent years to recover from the impact of COVID-19 pandemic.
Bosch Rexroth Corporation; Donaldson Company, Inc.; Eaton Corporation Plc.; Filtration Group Industrial; HYDAC Technology Ltd.; MANN+HUMMEL Group; MP Filtri S.p.A.; Pall Corporation; Parker-Hannifin Corporation; YAMASHIN-FILTER CORP. are among the leading companies in the North America hydraulic filters market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Donaldson Company, Inc. launched E-commerce website shop.Donaldson.com for making convenient for customer to browser and order filters.
The report segments the North America Hydraulic Filters Market follows:
North America Hydraulic Filters Market – By Product
- Suction Filter
- Pressure Filter
- Return Line Filter
- Off-Line Filter
- Breather Filter
- Others
North America Hydraulic Filters Market – By End-User
- Manufacturing
- Marine
- Automotive
- Chemical and Petrochemical
- Power Generation
- Agriculture
- Construction
- Metal and Mining
- Others
North America Hydraulic Filters Market – By Country
- US
- Canada
- Mexico
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