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.
Table of Contents
Executive Summary
Hydraulic Filter Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global hydraulic filter market as it emerges from the COVID-19 shut down.Reasons to Purchase:
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Description
Where is the largest and fastest-growing market for hydraulic filter? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The hydraulic filter market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider hydraulic filter market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by technology type, by distribution channel and by application.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the hydraulic filter market.
- Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by technology type, by distribution channel and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for hydraulic filter providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Type: Pressure Side Filters; Return Side Filters; Suction Side Filters; Off-Line Filters; In-Tank Breather Filters2) By Technology Type: With Sensor; Without Sensor
3) By Distribution Channel: Original Equipment Manufacturer (OEM); After-Market
4) By Application: Automotive; Aerospace; Construction Equipment; Industrial; Marine; Mining Industry; Petrochemical Industry; Other Applications
Key Companies Mentioned: Caterpillar Inc.; Parker Hannifin Corporation; Bosch Rexroth AG; Eaton Corporation; Mann+Hummel Group
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; hydraulic filter indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Caterpillar Inc.
- Parker Hannifin Corporation
- Bosch Rexroth AG
- Eaton Corporation
- Mann+Hummel Group
- SMC Corporation
- Mahle GmbH
- Filtration Group Corporation
- Pall Corporation
- Hydac Technology GmbH.
- Suzhou Shinkai Filters Co Ltd
- Hengst Filtration
- UFI Filters Group
- Xinxiang Lifeierte Filter Corp Ltd
- Xinxiang Tianrui Hydraulic Equipment Co Ltd
- Henan Demalong Filtration Equipment Co Ltd
- Henan Zhengzhou Toper Industrial Equipment Co Ltd
- Shanghai Baosteel Hydraulic Co Ltd
- Ningbo Cavan Hydraulic Machinery Co Ltd
- Shanghai Kangling Hydraulic Equipment Co Ltd
- Xinxiang Saya Filters Co Ltd
- Wuxi Zhengming Filtration Equipment Co Ltd
- Donaldson India Filter Systems Pvt Ltd
- Nippon Muki Co Ltd
- Kumho Filter Co Ltd
- Daehan Hydraulic Co Ltd
- Sakura Filter Korea Co Ltd
- Baldwin Filters Australia Pty Ltd
- Donaldson Australasia Pty Ltd
- Ryco Filters Pty Ltd
- PT Fajar Mas Murni
- PT Baldwin Filters
- PT Multi Sarana Industrindo
- M-Filter
- Filtrec France SAS
- Taisei Kogyo Co Ltd
- IHC Filters S.A
- Filtros Cartés S.A
- MP Filtri Sverige AB
- Indutrade AB
- Lekang Group AB
- UFI Filters S.p.A
- Tecfil Filtration Systems
- Filtration Group Italia
- Donaldson Filtration Solutions Ltd
- Baldwin Filters Ltd
- Technometra
- AERO Vodochody
- Filtrum LLC
- Rusfilter Group
- Hidrofilt S.R.L
- Filcon Filters
- Interfilter Romania
- Filtry ROKITA Sp
- MP Filtri Czech Republic
- FILTRAKTION
- Western Filter Corp
- Danaher Corporation
- Prince Mfg Corp
- Radwell International Inc
- UFI Filters
- Linter Group
- Filtros Cartés S.A
- Al Mazroui Engineering Company LLC
- Saudi Filters Industry Co
- Hydro Power Trading LLC
- Plantgeria Company Limited
- Power Tech Hydraulic Engineering Limited
- Dahongli Machinery (Africa) (Pty) Ltd
- Fluiconnecto
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 313 |
Published | June 2024 |
Forecast Period | 2023 - 2033 |
Estimated Market Value ( USD | $ 3.3 Billion |
Forecasted Market Value ( USD | $ 6.5 Billion |
Compound Annual Growth Rate | 6.9% |
Regions Covered | Global |