North America Hydraulic Filters Market to Grow at a Market Introduction Hydraulic filters are used to protect the components of hydraulic system from damage caused by contamination of particulate oils
The hydraulic filters market in North America is expected to grow from US$ 1194.88 million in 2019 to US$ 2089.54 million by 2027; it is estimated to grow at a CAGR of 7.3% from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. Rising digitization is boosting demand for hydraulic filter is driving the North America hydraulic filters market in a positive way. Digitization has increased the efficiency of existing machines and is expected to boost the demand for hydraulic filter in the North America hydraulic filters market in 2019 because of reliable and high quality offerings. The emergence of new market players from the North America is a new challenge for established leaders in the market. The idea of digital machinery has transformed manufacturers from 'hardware-only' providers into 'providers of' hardware, software, and services, which in turn has led to the development of new business models. These new models are used by hydraulic filter manufacturers to generate a steady stream of revenues and build a loyal client base. Digitization has paved the way for manufacturers of hydraulic filters to introduce new business models based on equipment utilization or performance. Also, integrating digital electronics with hydraulic systems provides one of the best solutions in modern control architectures in terms of high power density and hydraulic system flexibility. Moreover, with just few modifications, such electro-hydraulic components can be easily integrated with conventional systems. Similarly, hydraulic hose failure or connector leakage of hydraulic systems can be predicted using IoT technology. Thus, growing digitization is one of the major factors driving the growth of North America hydraulic filters market during the forecast period.Further, 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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America hydraulic filters market. The North America hydraulic filters market is expected to grow at a good CAGR during the forecast period.
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North America Hydraulic Filters Market Segmentation
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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
North America Hydraulic Filters Market - Companies Mentioned
- 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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, and End-user
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Hydraulic Filters Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
5. North America Hydraulic Filters Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Digitization is Boosting Demand for Hydraulic Filter
5.1.2 Construction Industry Witnessing Investment Rise
5.2 Market Restraints
5.2.1 Passive Design Process and Complex Installation Process to Hinder the Growth of North America Hydraulic Filters Market
5.3 Market Opportunities
5.3.1 Upcoming of Hydraulic Filters with Cyclone Effect Technology
5.4 Future Trends
5.4.1 Launch of New Products for Enhanced Filtering Capacity
5.5 Impact Analysis of Drivers and Restraints
6. Hydraulic Filters Market –North America Analysis
6.1 Overview
6.2 North America Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning –Market Players Ranking
7. North America Hydraulic Filters Market Analysis – By Product
7.1 Overview
7.2 North America Hydraulic Filters Market, By Product (2019 and 2027)
7.3 Suction Filter
7.3.1 Overview
7.3.2 Suction Filter: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Pressure Filter
7.4.1 Overview
7.4.2 Pressure Filter: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Return Line Filter
7.5.1 Overview
7.5.2 Return Line Filter: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Off-Line Filter
7.6.1 Overview
7.6.2 Off-Line Filter: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
7.7 Breather Filter
7.7.1 Overview
7.7.2 Breather Filter Market Revenue and Forecast to 2027 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others Market Revenue and Forecast to 2027 (US$ Million)
8. North America Hydraulic Filters Market Analysis – By End-User
8.1 Overview
8.2 North America Hydraulic Filters Market Breakdown, by End-User, 2019 & 2027
8.3 Manufacturing
8.3.1 Overview
8.3.2 Manufacturing Market Revenue and Forecast to 2027 (US$ Million)
8.4 Marine
8.4.1 Overview
8.4.2 Marine Market Revenue and Forecast to 2027 (US$ Million)
8.5 Automotive
8.5.1 Overview
8.5.2 Automotive Market Revenue and Forecast to 2027 (US$ Million)
8.6 Chemical and Petrochemical
8.6.1 Overview
8.6.2 Chemical and Petrochemical Market Revenue and Forecast to 2027 (US$ Million)
8.7 Power Generation
8.7.1 Overview
8.7.2 Power Generation Market Revenue and Forecast to 2027 (US$ Million)
8.8 Agriculture
8.8.1 Overview
8.8.2 Agriculture Market Revenue and Forecast to 2027 (US$ Million)
8.9 Construction
8.9.1 Overview
8.9.2 Construction Market Revenue and Forecast to 2027 (US$ Million)
8.10 Metal and Mining
8.10.1 Overview
8.10.2 Metal and Mining Market Revenue and Forecast to 2027 (US$ Million)
8.11 Others
8.11.1 Overview
8.11.2 Others Market Revenue and Forecast to 2027 (US$ Million)
9. North America Hydraulic Filters Market – Country Analysis
9.1 Overview
9.1.1 North America: Hydraulic Filters Market, by Key Country
9.1.1.1 US: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 US: Hydraulic Filters Market, by Product
9.1.1.1.2 US: Hydraulic Filters Market, by End-user
9.1.1.2 Canada: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Canada: Hydraulic Filters Market, by Product
9.1.1.2.2 Canada: Hydraulic Filters Market, by End-user
9.1.1.3 Mexico: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Mexico: Hydraulic Filters Market, by Product
9.1.1.3.2 Mexico: Hydraulic Filters Market, by End-user
10. North America Hydraulic Filters Market - COVID-19 Impact Analysis
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
12. Company Profiles
12.1 Bosch Rexroth AG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Donaldson Company, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Eaton Corporation plc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Filtration Group Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 HYDAC TECHNOLOGY Limited
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 MANN+HUMMEL International GmbH & Co. KG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 MP Filtri S.p.A
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Pall Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Parker Hannifin Corporation
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 YAMASHIN-FILTER CORP.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word IndexLIST OF TABLES
Table 1. North America Hydraulic Filters Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. US: Hydraulic Filters Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Hydraulic Filters Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 4. Canada: Hydraulic Filters Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Hydraulic Filters Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 6. Mexico: Hydraulic Filters Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 7. Mexico: Hydraulic Filters Market, by End-user –Revenue and Forecast to 2027 (US$ Million)
Table 8. List of AbbreviationLIST OF FIGURES
Figure 1. North America Hydraulic Filters Market Segmentation
Figure 2. North America Hydraulic Filters Market Segmentation – By Country
Figure 3. North America Hydraulic Filters Market Overview
Figure 4. North America Hydraulic Filters Market, by Country
Figure 5. North America Hydraulic Filters Market, By Product
Figure 6. North America Hydraulic Filters Market, By End-User
Figure 7. North America – PEST Analysis
Figure 8. North America Hydraulic Filters Market – Ecosystem Analysis
Figure 9. North America Hydraulic Filters Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. North America Hydraulic Filters Market Revenue Share, by Product (2019 and 2027)
Figure 12. North America Suction Filter: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. North America Pressure Filter: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. North America Return Line Filter: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. North America Off-Line Filter: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. North America Breather Filter Market Revenue and Forecast to 2027(US$ Million)
Figure 17. North America Others Market Revenue and Forecast to 2027(US$ Million)
Figure 18. North America Hydraulic Filters Market Breakdown, by End-User (2019 and 2027)
Figure 19. North America Manufacturing Market Revenue and Forecast to 2027(US$ Million)
Figure 20. North America Marine Market Revenue and Forecast to 2027(US$ Million)
Figure 21. North America Automotive Market Revenue and Forecast to 2027(US$ Million)
Figure 22. North America Chemical and Petrochemical Market Revenue and Forecast to 2027(US$ Million)
Figure 23. North America Power Generation Market Revenue and Forecast to 2027(US$ Million)
Figure 24. North America Agriculture Market Revenue and Forecast to 2027(US$ Million)
Figure 25. North America Construction Market Revenue and Forecast to 2027(US$ Million)
Figure 26. North America Metal and Mining Market Revenue and Forecast to 2027(US$ Million)
Figure 27. North America Others Market Revenue and Forecast to 2027(US$ Million)
Figure 28. North America: Hydraulic Filters Market Revenue Share, by Key Country (2019 and 2027)
Figure 29. US: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Canada: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Mexico: Hydraulic Filters Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in North American Country MarketsThe List of Companies - North America Hydraulic Filters Market
- 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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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