LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global hydraulic equipment market for mobile applications provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Anju Ajaykumar, a lead analyst from Technavio, specializing in research on engineering tools sector, says, “The global hydraulic equipment market for mobile applications is expected to grow at a CAGR of close to 6% during the forecast period. The growth in the construction and material handling, aerospace, and automotive industries has led to a rise in the demand for hydraulic equipment for mobile applications.”
Request a sample report: http://www.technavio.com/request-a-sample?report=54177
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
The top three emerging trends driving the global hydraulic equipment market for mobile applications according to Technavio heavy industry research analysts are:
- Availability of integrated solutions and service offerings
- Development and adoption of smart cylinders
- Autogenous manufacturing of hydraulic equipment
Availability of integrated solutions and service offerings
In an attempt to provide differentiation, an increasing number of hydraulic equipment manufacturers are offering various integrated hydraulic cylinder systems as well as solutions. The above-mentioned differentiation method helps these manufacturers to enhance the value through the delivery of systems or subsystems that include cylinders as well as ancillary products like pumps and valves. These integrated offerings also help in enhancing the ability to mop up profits from maintenance and aftermarket services. From the perspective of the end-users, the above arrangement translates into a design that is more efficient, offers better engineering and purchasing solutions, and also lowers the overall costs of operations.
Hydraulic cylinders can be considered as one of the critical components for a majority of the applications, and thus, customers are inclined to favorably react to solutions that offer better outcomes while simultaneously facilitating the enhanced performance of the overall equipment. The offering of a pre-tested subsystem also allows customers to focus on the core competencies while saving time and supply chain costs. Packaged as an integrated solution, all the components of the assembly of a hydraulic system such as valves, filters cylinders, hoses, connectors, and pumps, are offered to the end-users as individual units or kitted items. These advantages are especially suited to manufacturers that are integrated horizontally and offer an entire product line of hydraulic equipment.
Development and adoption of smart cylinders
The integration of electronics with hydraulic cylinders is leading to an increase in functionality, accuracy, and improvements in controlled performance and ease-of-use. The electro-hydraulic cylinders, also known as smart cylinders, incorporate electronic controls and servo valves such as transducers that provide electrically controlled valves and rod position feedback to ensure efficient operations. “The development of smart cylinders has limited the threat posed by alternative technologies such as electric actuators and has also expanded the scope of hydraulic equipment applications,” says Anju.
Autogenous manufacturing of hydraulic equipment
One of the emerging trends pertains to multiple OEMs remaining committed to in-house production. The primary purpose of this commitment lies with the efforts to obtain more control of critical components from the perspectives of design, engineering, quality, logistics, and cost. This trend of in-house manufacturing profoundly affects the dynamics of the broader industry because many of the biggest consumers of hydraulic cylinders also make up the largest manufacturers by volume. Caterpillar has already adopted this trend long back. Caterpillar also seeks to maintain its reputation by providing the customers with the lowest overall lifetime operating costs. This also heavily influences the company’s strategy to integrate the production vertically. Also, another machinery manufacturer Deere & Company has also followed the example mentioned above and is in the midst of a USD 46 million expansion that focuses on cylinder operations.
Such shifts may usher in an era of consolidation in the industry, wherein larger firms manufacture a majority of hydraulic cylinder products by volume. In hindsight, however, these large entities consume these products internally and do not offer them to the primary or secondary market.
Browse Related Reports:
- Global Hydraulic Equipment Market 2016-2020
- Global Hydraulic Actuators Market 2016-2020
- Global Artificial Lift Pumps Market 2016-2020
Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact email@example.com with your requirements and our analysts will be happy to create a customized report just for you.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.