Hydraulic fluid connectors are equipment used to transport the fluids from one area to other across the hydraulic application. Couplings, hoses, manifold, and assemblies & fittings are some of the hydraulic fluid connectors used to transport the liquids. Automotive, aerospace, construction, agriculture, material handling, oil &gas, and mining are some of the key end-user.
The North America Hydraulic Fluid Connectors Market is estimated to account for US$ 4,395.2 Mn in terms of value by the end of 2019.
High demand for hydraulic fluid systems from the aerospace industry is propelling the market growth of the North America hydraulic fluid connectors. The aerospace industry is one of the emerging sectors in the North America region. Hoses and fittings and their assemblies are widely used in civil and defense aircraft applications. This system enhances fluid power devices in powering landing gears and other key operations in aircraft. Hence, the growing demand for hydraulic fluid connectors is fueling market growth.
Robust growth in the automotive industry in North America is expected to bring profitable market opportunities over the forecast period. The brakes on vehicles and trucks mostly employed hydraulic systems. Hydraulic fluids systems are used in almost all types of vehicles. Increasing production of automobiles in the region due to the growing purchasing power of the consumers is again expected to offer lucrative opportunities for the hydraulic fluids system market over the forecast timeframe.
Threat from pneumatic fluid power technology due to technological advancement is expected to hinder the market growth. Pneumatic fluid power technology is relatively cleaner which makes it suitable for food manufacturing industries as it reduce contamination. Hydraulics connectors are not preferred in the food &beverage industry due to the high risk of leakage of hydraulic oil. This factor is hampering market growth.
For segment 1 information:
North America Hydraulic Fluid Connectors market was valued at US$ 4,395.2 million market in 2019 and is forecast to reach a value of US$ 9,207.0 million by 2027 at a CAGR of 7.6% between 2019 and 2027.
Mobile Hydraulic segment dominated the North America Hydraulic Fluid Connectors market in 2019, accounting for 67.5% share in terms of value, followed by industrial hydraulic.
Continuous product innovation in hydraulic fluid oil for the construction industry is a growing trend in the market. For instance, in December 2020, Shell has launched Shell Tellus S4 VE, a new hydraulic fluid produced with gas-to-liquids (GTL) technology and specifically designed for mobile hydraulics in construction. This product is cleaner than conventional mineral oils, and also deliver improvements of up to 6% in equipment productivity and 5.5% in noise reduction.
The development of advanced rubber and hose compounds for the hydraulic system for harsh and rigorous thermal applications by key players is one of the current trends. For instance, in December 2019, Gates a global provider of application-specific fluid power has launched a MegaSys™ MXG™ 4K hydraulic hose. It is a lightweight, compact, highly flexible drop-in replacement for conventional spiral hoses. This system offers improved abrasion and durability across the most demanding application.
Hydraulic Fluid Connectors Market - Impact of Coronavirus (Covid-19) Pandemic
The sudden occurrence of the novel coronavirus has a major impact on the hydraulic fluid connectors market owing to the decreasing demand for such pumps from various end use industries such as aerospace, agriculture among others.
Few Recent Developments
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