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North American Hydraulic Equipment Market for Industrial Applications
Frost & Sullivan, April 2010, Pages: 114
This research covers the state of the North American hydraulic equipment market for industrial applications, examining drivers and restraints for growth, key trends, end-user and geographical scenario. Following from these, market growth for end-users and product types are forecasted. In addition, an in-depth analysis of the competitive situation including market participant’s market shares is performed. Hydraulic equipments have wide and varied end-user applications and the market is dominated by a few large manufacturers. The base year is 2009 with forecasts running through 2016. The market is further divided into six sub-segments according to the product type. Detailed analysis of each sub-segment is included.
This Frost & Sullivan research service titled North American Hydraulic Equipment Market for Industrial Applications provides an in-depth analysis of the market drivers and restraints, industry trends, and competitive environment, in addition to the challenges and issues faced by market participants. In this research, Frost & Sullivan's expert analysts thoroughly examine the following end-user segments: machine tools, hydraulic presses, plastics, entertainment and simulators, water and waste water, automobile, food and beverage and renewable energy.
Demand for Total Solutions Continues to Drive the North American Hydraulic Equipment Market for Industrial Applications
The North American hydraulic equipment market for industrial applications is a mature market with limited growth in the major end-user segments. As the technology of hydraulic equipment is in the mature stage, the basic design and construction of hydraulic equipment undergoes minimal changes over the years. However, R&D continues to play a vital role in the North American market for hydraulic equipment. Considerable efforts are underway to make improvements that may prove critical in the marketplace. The power and reliability of hydraulic equipment and systems, coupled with low operating costs provide end users with wide manufacturing capabilities for many applications. The numerous advantages of hydraulic systems have spurred demand. 'These systems are essential in a host of industrial applications especially in those where the hydraulics systems are challenged by alternative technologies such as pneumatic and electrical drives,' notes the analyst of this research service. 'For instance, in high pressure applications such as metal stamping and forming in car manufacturing, using hydraulic systems remains the most efficient method available for maximizing output and productivity.'
The decline in the U.S. economy has affected most of the end users for hydraulic equipment. This puts pressures on the capital availability for expansion of production capacities while, due to reduced demand, the unit production decreases at the end-user side. The major end users in the industrial segment, such as machine tools and hydraulic presses, are the worst effected segments. Though companies are cutting down on new investments, they will be forced to spend on services in order to ensure optimal performance of existing systems. As the economy revives, these impediments will be reduced and growth in the end-user segments will open up new opportunities for hydraulic equipment manufacturers. Another factor reining in market progression is the fact that end users strongly believe that hydraulic systems are not environment friendly. Apart from this, increasing competition from foreign manufacturers has become a threat for domestic hydraulic manufacturers. Pricing pressures from foreign manufacturers have lowered the price in the market and limited the revenue potential for North American manufacturers. The challenge for domestic manufacturers is to combat imported product price levels.
To grow in such a market, participants are moving toward offering total, integrated solutions and services instead of selling stand-alone components. 'Manufacturers can capitalize on these opportunities by understanding the requirements of customers and introducing appropriate products bundled along with best services,' says the analyst. 'They must also broaden the applications that they serve and cater to end-user segments that have the highest growth potential.' In future, value-added services and total solutions, which are proactive, functionality driven, and consumer driven, will take market prospects forward.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Machine tools
- Hydraulic presses
- Plastics
- Entertainment and simulators
- Automobile
- Renewable energy
- Food and beverage
- Water and waste water
- Technologies
The following technologies are covered in this research:
- Hydraulic motors
- Hydraulic valves
- Hydraulic pumps
- Hydraulic accessories
- Hydraulic cylinders
- Hydrostatic transmissions
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