Hydraulic Filter Global Market Opportunities and Strategies to 2033

This report describes and explains the hydraulic filter market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global hydraulic filter market reached a value of nearly $3.3 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.8% since 2018. The market is expected to grow from $3.3 billion in 2023 to $4.6 billion in 2028 at a rate of 6.7%. The market is then expected to grow at a CAGR of 7.2% from 2028 and reach $6.5 billion in 2033.

Growth in the historic period resulted from the increasing industrialization, expansion of the automotive industry, increasing mining activities and growing defense industry. Factors that negatively affected growth in the historic period were high initial costs.

Going forward, the growth in the oil and gas industry, increasing construction activities, strong economic growth in emerging markets and increasing manufacturing output will drive the market. Factors that could hinder the growth of the hydraulic filter market in the future include economic slowdown and supply chain issues.

The hydraulic filter market is segmented by type into pressure side filters, return side filters, suction side filters, off-line filters and in-tank breather filters. The return side filters market was the largest segment of the hydraulic filter market segmented by type, accounting for 30.4% or $1 billion of the total in 2023. Going forward, the pressure side filters segment is expected to be the fastest growing segment in the hydraulic filter market segmented by type, at a CAGR of 7.8% during 2023-2028.

The hydraulic filter market is segmented by technology type into with sensor and without sensor. The without sensor market was the largest segment of the hydraulic filter market segmented by technology type, accounting for 74.3% or $2.5 billion of the total in 2023. Going forward, the with sensor segment is expected to be the fastest growing segment in the hydraulic filter market segmented by technology type, at a CAGR of 8% during 2023-2028.

The hydraulic filter market is segmented by distribution channel into original equipment manufacturer (OEM) and after-market. The original equipment manufacturer (OEM) market was the largest segment of the hydraulic filter market segmented by distribution channel, accounting for 61.6% or $2 billion of the total in 2023. Going forward, the after-market segment is expected to be the fastest growing segment in the hydraulic filter market segmented by distribution channel, at a CAGR of 7.2% during 2023-2028.

The hydraulic filter market is segmented by application into automotive, aerospace, construction equipment, industrial, marine, mining industry, petrochemical industry and other applications. The construction equipment market was the largest segment of the hydraulic filter market segmented by application, accounting for 24.6% or $815.3 million of the total in 2023. Going forward, it is expected to be the fastest growing segment in the hydraulic filter market segmented by application, at a CAGR of 8.1% during 2023-2028.

Asia-Pacific was the largest region in the hydraulic filter market, accounting for 37.7% or $1.3 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the hydraulic filter market will be Asia-Pacific and North America, where growth will be at CAGRs of 7.7% and 7% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 6.5% and 4.2% respectively.

The global hydraulic filter market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 15.35% of the total market in 2022. Caterpillar Inc was the largest competitor with a 2.29% share of the market, followed by Parker Hannifin Corporation with 2.03%, Bosch Rexroth AG with 1.89%, Eaton Corporation with 1.86%, Mann+Hummel Group with 1.86%, SMC Corporation with 1.42%, Mahle GmbH with 1.37%, Filtration Group Corporation with 0.96%, Pall Corporation with 0.90% and Hydac Technology GmbH with 0.77%.

The top opportunities in the hydraulic filter market segmented by type will arise in the return side filters segment, which will gain $405 million of global annual sales by 2028. The top opportunities in the hydraulic filter market segmented by technology type will arise in the without sensor segment, which will gain $870 million of global annual sales by 2028. The top opportunities in the hydraulic filter market segmented by distribution channel will arise in the original equipment manufacturer (OEM) segment, which will gain $743.2 million of global annual sales by 2028. The top opportunities in the hydraulic filter market segmented by application will arise in the construction equipment segment, which will gain $387.7 million of global annual sales by 2028. The hydraulic filter market size will gain the most in China at $295.9 million.

Market-trend-based strategies for the hydraulic filter market include focus on expansion of manufacturing facilities, strategic collaborations and partnerships by hydraulic filter companies to drive innovation and market expansion, introduction of advanced lubrication filtration technologies, introduction of innovative hydraulic fluid cleanliness solutions by major hydraulic filter manufacturers and strategic investments by leading hydraulic filter companies to drive growth and competitive advantage.

Player-adopted strategies in the hydraulic filter market include focus on expanding business through new product developments and focus on reinforcing position in the global market through strategic partnerships.

To take advantage of the opportunities, the analyst recommends the hydraulic filter companies to focus on facility expansion, focus on innovative lubrication filtration technology, focus on innovative hydraulic fluid cleanliness solutions, focus on strategic investments for market leadership, focus on return side and pressure side filters segments, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, focus on after-market segment, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on construction equipment and mining industry application segments.