An auxiliary hydraulic system operates auxiliary equipment or attachments
by delivering pressurized hydraulic fluid from a hydraulic pump. Versatility of heavy construction equipment increases by addition of an auxiliary hydraulic system which allows it to perform additional functions with different attachments. Globally, development of efficient and advance technology, rising demand from industrial application, flourishing automotive industry, and increasing demand for heavy construction equipment owing to developing construction industries are the prime growth drivers of global hydraulic auxiliary equipment market. In addition, increase in adoption of hydraulic auxiliary equipment for application in newer industrial vertical, and emerging economies such as China, India and others, will create new opportunities for global hydraulic auxiliary equipment market. However, volatile prices and availability of raw materials, higher cost of research and development, and higher cost of production and maintenance are the key restraints for global hydraulic auxiliary equipment market.
Geographically Asia Pacific dominated global hydraulic auxiliary equipment market
, followed by North America. Asia Pacific is projected to have fastest growth, owing to rapidly increasing automobile industry, rise in industrial sector, increasing demand from oil & gas sector, and growing construction industries in developing nations such as China, and India in this region. Among all the applications, mechanical equipment segment has the highest market share in global hydraulic auxiliary equipment market due to spur in automotive industry, and construction sector. Exhaust volume control type is the market leader among all types of hydraulic auxiliary equipment, owing to its better performance and lesser maintenance cost.
This report identifies the global hydraulic auxiliary equipment market size in for the year 2014-2016, and forecast of the same for year 2021. It also highlights the market drivers, restraints, growth indicators, challenges, and other key aspects with respect to global hydraulic auxiliary equipment market.This report segments global hydraulic auxiliary equipment market on the basis of type, application, and regional market as follows:
This report identifies all the major companies operating in the hydraulic auxiliary equipment market. Some of the major companies’ profiles in detail are as follows:
- Hydraulic Auxiliary Equipment Market, By Type: Standard Type, Tube Plug Type, and Exhaust Volume Control Type
- The report has focused study on hydraulic auxiliary equipment market by basis of application such as: Pipe, Pressure tank, Mechanical Equipment, Filter, and Others
- This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region