DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/nz3tds/hydraulic) has announced the addition of the "Hydraulic Component Market in India 2012-2016" report to their offering.
TechNavio's analysts forecast the Hydraulic Component market in India to grow at a CAGR of 14.20 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for earth-moving, material-handling, and mining equipment. The Hydraulic Component market in India has also been witnessing the steady reduction in delivery lead times. However, rising raw material prices could pose a challenge to the growth of this market.
The key vendors dominating this market space are Robert Bosch GmbH, Parker Hannifin Corp., Eaton Corp., and Yuken Kogyo Co. Ltd.
The other vendors mentioned in the report are Wipro Infrastructure Engineering Pvt. Ltd., UT Pumps and Systems Pvt., Bell Fluidtechnics Pvt. Ltd., Karunanand Hydropneumatic Controls (P) Ltd., Toshiba Machine Co Ltd., and Sauer-Danfoss Inc.
Commenting on the report, an analyst from TechNavio's Engineering team said: ''A steady reduction in delivery lead time of hydraulic components for the global manufacturers is one the main trends in the Hydraulic Component market in India. Currently, several hydraulic component manufacturers from both the EMEA region and the Americas are increasingly outsourcing their manufacturing activities to India. This is mainly because of the availability of low-cost labor and a skilled workforce in the country. This increase in the outsourcing of manufacturing activities leads to an increase in investments from both domestic and international vendors. This drives the demand for the Hydraulic Component market in India.''
According to the report, one of the main drivers is the increasing demand for earth-moving, material-handling, and mining equipment across the various states in India. Various hydraulic components such as cylinders, pumps, motors, valves, and other accessories are increasingly being used in this equipment for their applications and functions.
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