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Hydraulic Filter Market Rising Demand from Industrial Sector during Forecast Period 2018-2028

October 3, 2019 by Amanpreet  

  • During 2013-2017, the hydraulic filter market revenues grew at a modest 3.5% CAGR, with a significantly high demand for hydraulic filters and lube oil filters in the aerospace industry.
  • In 2018, the hydraulic filter market reached US$ 1.8 billion and it is expected to record 4.0% y-o-y in 2019. With the rapidly expanding range of end-use applications of hydraulic filters, the global market is estimated to grow at a healthy 4.5% CAGR during the forecast period 2018-2028.
  • Asia Pacific is a leading market for hydraulic filters with over one-third revenue share of the global market. China will generate positive growth opportunities for hydraulic filter manufacturers despite fluctuating raw material prices in the Asia Pacific region.
  • Asia Pacific will continue to remain the high-growth market for hydraulic filters, as end-use industries in the region, such as power generation, construction, and steel industry, are likely to gain traction in the upcoming years.

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What are the Key Growth Drivers of the Hydraulic Filter Market?

  • Development of new raw materials, such as micro glass materials, signify the stakeholders’ increasing efforts to boost innovations in the design and features of new models of hydraulic filters.
  • Leading manufacturers are introducing hydraulic filters to suit the specific requirements of end-users from diverse industries—aerospace and defense industry will remain a primary focus for most.
  • Increasing growth of the leading end-use industries, including marine, steel construction machinery, petrochemical, and transportation industries, are creating promising opportunities for manufacturers in the hydraulic filter industry.

What are the Key Challenges in the Hydraulic Filter Market?

  • High maintenance and replacement costs and increased downtime are among the key drawbacks of hydraulic filters, and end-users are likely to prefer more robust and cost-effective alternatives such as lubrication system filters.
  • The complex installation process of hydraulic filters creating challenges for market players to attract more customers and boost profitable sales.
  • End-users’ concerns about hydraulic fluid leakages and hydraulic filter efficiency are forcing manufacturers to introduce electric filters, which may cannibalize sales of hydraulic filters in the coming years.
  • In May 2018, Donaldson Company, Inc. – a vertically integrated filtration company – announced that it has doubled the size of its distribution network in Belgium with the opening of its new 45,000 square meter distribution facility in Brugge. The company declared that the new distribution facility has an annual outbound goods volume of over 17 million units and it aims to offer the high-quality customer service experience to its ever-expanding customer base in European hydraulic filter market.
  • In January 2019, Eaton Corporation plc – a multinational power management company – announced that the Aftermarket division of its Vehicle Group’s has entered an agreement with Bezares SA – a leading manufacturer of pumps, motors, and hydraulic systems – to improve its presence in North America. The company also declared that the partnership with Bezares will enable the company to offer a comprehensive mobile power hydraulic portfolio, including hydraulic filters, to cater to the North American customers’ dynamic needs.
  • In March 2019, UFI Filters – an Italian manufacturer in the hydraulic filter market – announced that it has expanded its aftermarket base in the UK with the launch of a new warehouse and a dedicated office. The new distribution center features over 3,000 SKUs in its aftermarket catalogue. The company aims to benefit from its newly-appointed supply chain partner DB Schenker – a German logistics company – to gain momentum in highly fragmented Irish and UK Aftermarkets, in the coming years.

Parker Hannifin Corp.

Founded in 1918, Parker Hannifin Corp. is headquartered in Ohio, U.S. The company offers a product portfolio that includes crankcase ventilation filtration, air filtration, and fuel filtration based on its motion and control technologies. Parker Hannifin’s key strategies are mainly focused on boosting innovation to consolidate its position in aerospace and defense markets.

Bosch Rexroth AG

Bosch Rexroth AG was founded in 2001 and is headquartered in Lohram Main, Germany. The company has established its strong presence in the hydraulic filters market with its expertise in electric drives and control technology, gear technologies, and linear motion and assembly technologies for mobile applications.

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Filtration Group Corporation

Founded in 1943, Filtration Group Corporation is based in Illinois, U.S. The company designs and manufactures filtration systems, including indoor air quality products, such as dust collection filters, overspray collectors, custom air filters, and gas phase air filtration systems. The company’s key strategies reflect its plan to strengthen its position in the marine, aviation, and diversified industrial markets.

HYDAC Filtertechnik GmbH

HYDAC Filtertechnik GmbH was founded in 1963, and is based in Sulzbach, Germany. Company’s strong product portfolio includes hydraulic accumulators, manifolds, pipe connections, valves, fittings, pumps, heat exchangers, cooling systems, sensors, housings, and cylinders, along with maintenance services.

Walter Stauffenberg GmbH & Co. KG (Stauff)

Founded in 1963, Walter Stauffenberg GmbH & Co. KG (Stauff) is headquartered in Werdohl, Germany. Stauff is a subsidiary of Lukad Holding GmbH & Co. KG – a German owner-managed family company that develops, manufactures, and supplies hydraulic and fastening systems through its subsidiaries. Stauff offers pipework equipment and hydraulic components used in a wide range of industrial sectors such as agricultural/forestry machinery, oil and gas, construction machinery, marine, railway, and wind energy industries.

Donaldson Company, Inc., Parker Hannifin Corp., Eaton Corporation Plc., Bosch Rexroth, Mahle International GmbH (Filtration Group Corporation), UFI FILTERS, HYDAC Verwaltung GmbH, Mann+Hummel Group, MP Filtri S.p.A., Walter Stauffenberg GmbH & Co. KG (Stauff), OMT S.p.A., Pall Corporation, Caterpillar Inc., SMC Corporation, and Yamashin Filter Corp are among the key companies in the hydraulic filter market.

Hydraulic Filter Market – Additional Insight

High Demand for Return Line Filters to Prevail

Return line filters and suction filters are among the most popular types of low-pressure hydraulic filters. However, a majority of end-users are choosing return line filters over suction filters, especially in open-loop applications, with growing needs for improved efficiency at maintaining high fluid cleanliness levels. In addition, installing hydraulic filters on a return line of an application ensures the availability of sufficient pressure for forcing the fluid through fine media. Moreover, improved performance characteristics, such as high chemical resistance, contamination retention capacity, and high burst pressure resistance, are likely to contribute to the increasing demand for return line filters in the coming future.

Research Methodology

A unique methodology and holistic approach is adapted to carry out a detailed analysis on the growth of the hydraulic filter market to during the assessment period 2018-2028. The Fact.MR report includes detailed information about the growth prospects of the market and offers exclusive conclusions about the future of in the hydraulic filter market.

Detailed secondary and primary market research is conducted to acquire comprehensive information about historical and current growth parameters of the hydraulic filter market featured in the report. Secondary market research on the hydraulic filter explains facts and data the historical and current facts and industry-validated information about the hydraulic filter market. Leading manufacturers, suppliers, distributors, and investors in the hydraulic filter market are interviewed as a part of primary market research, which is conducted after secondary research.

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The authenticity of the conclusions, both quantitative and qualitative, is maintained by the tried-and-tested research methodology followed by Fact.MR analysts. The research methodology helps to reach the exact factors that will influence growth of the hydraulic filter market during the forecast period.

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