The hydraulic fluid connectors market in North America has gained a significant impetus in the recent times. The infrastructural development in this region has propelled the North America construction equipment industry, fueling the demand for these connectors remarkably. Apart from this, the growing application of hydraulic fluid connectors in the North America aerospace industry has also boosted this regional market over the past few years.
According to a market study published by Transparency Market Research (TMR), the North America hydraulic fluid connectors market attained a value of US$3 bn in 2013. The market is expected to rise at a CAGR of 7.60% between 2014 and 2020 and reach US$4.7 bn by the end of 2020.
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The increasing use of bio-based hydraulics in hydraulic mechanisms is likely to drive the North America hydraulic fluid connectors market in the coming years. However, in the near future, the growth of this market is projected to get restricted by the rising trend of adopting the pneumatic fluid power technology.
Hydraulic Fluid Connectors to Attract Highest Demand from Mobile Hydraulic Equipment in North America
In 2013, hydraulic fluid connectors were mostly demanded in mobile hydraulic equipment in North America. The segment accounted for a share more than 67% in the overall demand for hydraulic fluid connectors in this region in 2013. The trend is likely to continue in the coming years on account of the rapid growth of several mobile hydraulic industries such as aerospace and agriculture in North America. Here is a snapshot of the performance and future prospects of other segments in this market.
Eaton Corp., Parker Hannifin Corp., ITT Corp., Gates Corp. and Manuli Hydraulics are the leading hydraulic fluid manufacturers in North America. Together they account for almost 70% of the overall market. Other prominent participants in this market are SPX Corp., Kurt Hydraulics, RYCO Hydraulics Pty. Ltd., and Cameron International Corp.
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