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North America Hydraulic Fluid Connectors Market to Gain from Infrastructural Development in the Region

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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.

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

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.

  • The demand for hydraulic fluid equipment is likely to increase in agriculture equipment such as tractor combines and harvesters. The increase in agricultural activates, owing to the rising demand for commodities such as food and textile in this region, is boosting the demand for these connectors in the agriculture equipment segment.
  • The aerospace industry was the biggest application segment of hydraulic fluid connectors in North America in 2013. The rise in the production of civil aircrafts has fueled the demand for these connectors in this industry.
  • The agriculture industry, however, is likely to emerge as the largest application segment of hydraulic fluid connectors in the coming years.
  • The segment is expected to expand at a CAGR of 7.90% between 2014 and 2020. The rapid increase in agricultural activities owing to the increasing need for food is likely to fuel the application of hydraulic fluid connectors in this segment.
  • The demand for fluid connectors such as fittings and hoses for various other hydraulic applications is also anticipated to rise significantly in the nearing future.

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.

Browse the full Press Release of North America Hydraulic Fluid Connectors Markethttp://www.mrrse.com/hydraulic-fluid-connectors-industry