Global Hydraulic Component Market: Overview
Hydraulics is a branch of applied science and modern technology that uses chemistry, engineering, and other sciences that involve mechanical properties and the use of liquids. Hydraulic systems use an incompressible fluid, such as water or oil, to transmit forces from one particular location to another within the fluid. Hydraulics is used for the transmission and generation of power with the utilization of pressurized liquids. Hydraulic components range through few parts of science and most of engineering modules. Hydraulic Component Market are based on concepts such as fluid control circuitry, dam design, pipe flow, pumps, and fluidics.
Global Hydraulic Component Market: Key Segments
The hydraulic component market can be segmented based on product type, application, and region. Based on product type, the hydraulic component market can be segregated into hydraulic pump, hydraulic motor, valve, cylinder, and others. Hydraulic pumps are used to move or raise fluids. They have a piston moving in a closely-fitting cylinder and forces are exerted on the fluid by motion of the piston. Hydraulic motor is mechanical actuator that converts hydraulic pressure and flow into torque and angular displacement or rotation. Valve is a device that regulates or controls the flow of the fluid for opening, closing, or partially obstructing passageways of fluids flowing. Hydraulic cylinder is a mechanical actuator used to provide unidirectional force through a unidirectional stroke. hydraulic component market are employed in industries such as oil & gas, marine, and aerospace.
Hydraulic component Market allow users to accurately wield large amount of power with little input force. According to the National Fluid Power Association, hydraulic components also provide constant force. Hydraulic Component Market are safe in chemical plants and mines as they do not cause sparks. Most aircraft use hydraulics in their braking systems and landing gear.
Hydraulic components contain highly pressurized fluid. Hydraulic Component Market could cause burns, bruises, or accidental injection of fluid into the body. These are some of the restraints of the hydraulic component market. These components need to be periodically checked for leaks and lubrication, and filters must be changed regularly.
Global Hydraulic Component Market: Regional Analysis
In terms of region, countries in Asia Pacific such as India, China, and Japan lead the market in terms of manufacture and utilization of hydraulic component market. Demand for these components is rising in the region due to rapid industrialization and urbanization. Manufacturing and industrial sectors are expanding at a rapid pace in India. This is boosting the hydraulic component market in the country. Growth in the construction sector, rise in sales of construction equipment containing hydraulic components, and increase in investments for developing smart machine tools are anticipated to propel the Hydraulic Component Market in the near future. Countries in Europe such as Germany, the U.K., the Netherlands, and France are investing in manufacturing and aerospace building. North America continues to remain an emerging market due to the investments made in the manufacturing sector. The U.S. Government plans to refurbish its infrastructural plans. Demand for Hydraulic Component Market are due to focus on improving energy efficient hydraulics, increase in R&D activities in formulating innovative hydraulic fluids, and advancements in electro-hydraulic automation. The market in Middle East & Africa is anticipated to expand in the next few years due to the recovery from the economic slowdown. Countries such as Saudi Arabia, the UAE, Kuwait, and Qatar have invested substantially in the hydraulic component market.
Global Hydraulic Component Market: Key Players
Key players operating in the hydraulic component market include Bosch Rexroth, Daikin Industries, Eaton Corporation, Kawasaki Heavy Industries, and Parker Hannifin.