A hydraulic filter is a component in hydraulic systems used in various machinery, vehicles and industrial equipment to remove contaminants from the hydraulic fluid, ensuring the smooth operation and longevity of the hydraulic system. These filters typically consist of a porous material, such as paper, cellulose, synthetic fibers or metal mesh.
The hydraulic filter market consists of sales, by entities (organizations, sole traders and partnerships), of hydraulic filters that refer to a component of the system that pushes hydraulic fluid through a porous filter element to eliminate harmful particles. By capturing impurities, the filter element stops them from returning to the fluid flow and harming other equipment down the line.
The global hydraulic filter market was valued at $2,755.9 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Increasing Industrialization
During the historic period, increasing industrialization supported the growth of the hydraulic filter market. Industrialization refers to the process of transforming an economy from primarily agrarian and rural-based to one dominated by industrial manufacturing and urbanization. Hydraulic filters play a crucial role in supporting industrialization by ensuring the reliability, efficiency and safety of hydraulic systems used in various industrial applications. According to the United Nations Industrial Development Organization (UNIDO), global manufacturing production increased by 9.4% in 2021. Further, according to Goldman Sachs, a US-based investment banking company, the Indian manufacturing sector had growth of 210% in the fiscal year 2021-2022, compared to the fiscal year 2020-21, as well as a substantial increase in new investment and ordering activity. Compared to 2019-20, the manufacturing sector saw a 460% increase in 2021-22. Therefore, increasing industrialization drove the growth of the hydraulic filter market.
Expansion Of Manufacturing Facilities By Leading Hydraulic Filter Companies To Meet Rising Demand
Companies operating in the hydraulic filter market are focusing on expanding their facilities to meet the growing demand in various industries. For instance, in March 2024, UFI Filters Group, an Italy-based filtration technology and thermal management solutions company, opened a new production facility to meet the growing demand for high-quality hydraulic filtration products. The inauguration of this state-of-the-art 1,000-square-meter facility, exclusively dedicated to manufacturing hydraulic filters and elements for the regional market, underscores UFI Filters Hydraulics' steadfast commitment to the Korean market. The new plant is likely to enhance operational efficiency by streamlining production processes, optimizing supply chain management and improving overall productivity.
The global hydraulic filter market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 15.35% of the total market in 2022.
Hydraulic Filter Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global hydraulic filter market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for hydraulic filter? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The hydraulic filter market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider hydraulic filter market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by technology type, by distribution channel and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the hydraulic filter market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by technology type, by distribution channel and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for hydraulic filter providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Pressure Side Filters; Return Side Filters; Suction Side Filters; Off-Line Filters; In-Tank Breather Filters
- 2) By Technology Type: With Sensor; Without Sensor
- 3) By Distribution Channel: Original Equipment Manufacturer (OEM); After-Market
- 4) By Application: Automotive; Aerospace; Construction Equipment; Industrial; Marine; Mining Industry; Petrochemical Industry; Other Applications
- Companies Mentioned: Caterpillar Inc.; Parker Hannifin Corporation; Bosch Rexroth AG; Eaton Corporation; Mann+Hummel Group
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; hydraulic filter indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.