The global hydraulics controls market is estimated to cross $34.9 billion by 2024 growing at CAGR 5.59% during the forecast period 2018-2024. Increasing adoption of these hydraulic control systems in automotive and oil-gas industries is expected to proliferate the hydraulics controls market in future.
What is Hydraulic control?
Hydraulic control primarily dealt with the functions and applications of fluids and liquid in motion. Hydraulic is basically a mechanical functions that is related to fluid mechanics and operates through the force of liquid pressure. Hydraulic liquids are primarily used to transmit & distribute forces to various units to be actuated. Liquids are almost incompressible as pressure applied to any part of confined liquid is transmitted within undiminished intensity to every other part.
Hydraulic control systems are usually of three types and these control systems are directional control, pressure control and flow control. These three types of hydraulic control systems helps to control the direction of the hydraulic fluid, monitors the pressure of the hydraulic fluid and to manage the flow of the fluid. This hydraulic control system offers various types of advantages and is used in diverse applications.
This report incorporates an in-depth assessment of hydraulics controls market by end user industry, product type, applications and geography. The major types of applications encompassed in the scope includes oil & gas, metal industries, construction, mining, agriculture, chemical and process, power generation, food and beverage and others
What are the major applications for hydraulic controls?
Hydraulic control system has many applications in off-road vehicles and is primarily used for control and movement of these vehicles. They are also used in vehicles for heavy construction, mining and agriculture whereas in forming and machining machineries, hydraulic system is used as hydraulic presses and is used for all press-specific function in a machinery.
Hydraulic Control Valves have a wide array of applications in off-shore oil & gas as they have the capacity to control or manipulate the flow of fluid which is in the form of oil or gas. They are also employed in automotive component testing systems.
Market Research and Market Trends of Hydraulic Controls
- The rapid growth in the espousal of automation in manufacturing industries is escalating the demand for hydraulic control across the globe. Machinery and equipment manufacturing has witnessed a growth rate of 10.5% in 2017 in developing economies and is expected to remain the same in the near future. This offers a significant opportunity for the growth of hydraulic controls market
- The Indian state controlled coal mining company, Coal India Limited has increased its share of coal production from 538.76 million metric tons in 2016 to 598.61 million metric tons in 2017. This has resulted in the increased demand for hydraulic controls in India as they are extensively used in mining
- The number of cars sold across the world has been increasing steadily for the past few years and has reached 79.02 million units in 2017 from 77.25 million units in 2016. Since hydraulic control systems are used in automotive industry for various applications such as component testing, clutches and breaks, the market is expected to grow in the near future
Who are the Major Players in Hydraulic Controls Market?
Some of the major companies referred in this market research report include Bosch Rexroth Ltd (U.K.), Eaton Corp (Ireland), Honeywell International Inc (U.S.), Danfoss Group (Denmark) and Linde Hydraulics GmbH & Co. KG (Germany) among others.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
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- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.