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North America Hydraulic Fluid Connectors Market to Reach US$4.7 bn by 2020, Increasing Demand from Aerospace Industry Drives Growth

Press release Description

Albany, New York, Mar 31, 2016: Market Research Reports Search Engine (MRRSE) has recently announced the addition of a new study on the North America hydraulic fluid connectors market. The research report, titled “Hydraulic Fluid Connectors Market (Mobile Hydraulic and Industrial Hydraulic) for Aerospace, Agriculture, Construction Equipment, Material Handling and Other Applications – North America Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” is published by Transparency Market Research (TMR).

The research study states that the market for hydraulic fluid connectors in North America stood at US$2.8 bn in 2013. Analysts have estimated that this market will expand at a CAGR of 7.60% during the period from 2014 to 2020 and reach a value of US$4.7 bn by the end of the forecast period.

Browse Full North America Hydraulic Fluid Connectors Market Report with http://www.mrrse.com/hydraulic-fluid-connectors-market

According to the market report, the increasing applications of hydraulic fluid connectors in the aerospace industry has fueled the North America market for hydraulic fluid connectors significantly. The rise in the construction equipment industry in North America has also propelled the demand for these connectors in the region.

In addition to this, the rising usage of bio-based hydraulics in hydraulic mechanisms is projected to stimulate the North America hydraulic fluid connectors market. However, the growing trend of pneumatic fluid power technology is likely to limit the growth of this market during the forecast period, states the report.

The study has evaluated the North America hydraulic fluid connectors market on two fronts: Product and application. Based on product, the report has classified this market into industrial hydraulic fluid connectors and mobile hydraulic fluid connectors. In 2013, the demand for mobile hydraulic fluid connectors was the highest in North America. The segment accounted for a share of more than 67% of the total demand that year. Experts anticipate this market segment to register the fastest growth rate during the forecast period.

By application, the North America hydraulic fluid connectors market has been segmented into aerospace, construction equipment, agriculture, material handling, and other application areas such as heavy trucks, marine, and mining.

In 2013, the aerospace segment emerged as the largest application area in the North America hydraulic fluid connectors market. However, the agriculture segment is likely to acquire the leading position in the coming years, expanding at a CAGR of 7.90%, during the forecast period, notes the study.

Some of the major North American manufacturers of hydraulic fluid connectors mentioned in this research report are SPX Corp., ITT Corp., RYCO Hydraulics Pty. Ltd., Kurt Hydraulics, Manuli Hydraulics, Parker Hannifin Corp., Gates Corp., Eaton Corp. Plc., and Cameron International Corp.

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