Europe Hydraulic Filters Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product, and End-user

According to a new market research study on “Europe Hydraulic Filters Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Product and End-User” is expected to reach US$ 1,914.10 million by 2027 from US$ 1,020.54 million in 2019. The market is estimated to grow at a CAGR of 8.3% from 2020 to 2027. The report provides trends prevailing in the Europe hydraulic filters market along with the drivers and restraints pertaining to the market growth. Rising expenditure in the construction industry is the major factor driving the growth of the Europe hydraulic filters market. However, issues associated with intricate installation process and steady design process to slow down the growth of hydraulic filters market in Europe.

The Europe hydraulic filters market is segmented based on the product and end-user. Based on product, the Europe hydraulic filters market is segmented into suction filter, pressure filter, return line filter, off-line filter, breather filter, and others. Return line filter is dominating the market during the forecast period. Based on end-user, the Europe hydraulic filters market is segmented into manufacturing, marine, automotive, chemical and petrochemical, power generation, agriculture, construction, metal and mining, and others. Manufacturing segment held a substantial market share during 2017-2027.

Also the ongoing COVID-19 is having very bad impact over the Europe region. Due to the COVID-19 outbreak, Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or reduce their activities in a substantial manner. Owing to business shutdown, the region is anticipated to an economic slowdown in 2020 and most likely in 2021 also. In Europe, France is the hardest-hit country by the coronavirus outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries, as France recorded the highest number of coronavirus cases. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This anticipated to impact market growth in Europe. The impact of COVID-19 varied from country to country across the European region as selected countries witnessed a surge in number of confirmed cases and subsequently attracted stringent as well as longer lockdown period or social isolation resulting in disruption of business. For instance, countries such as Italy and Spain hydraulic machineries and equipment’s demand declined significantly owing to notable number of positive cases across the countries. The lockdown is expected to continue negatively impact the market and virtually disrupt the market growth across selected countries during the coming few months and potentially the next few years.

Bosch Rexroth Corporation; Donaldson Company, Inc.; Eaton Corporation Plc.; Filtration Group Industrial; HYDAC Technology Ltd.; MANN+HUMMEL Group; MP Filtri S.p. A.; Pall Corporation; Parker-Hannifin Corporation; YAMASHIN-FILTER CORP. are among the leading companies in the Europe hydraulic filters market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Filtration Group Corporation launched duplex filter Pi 214 which has flow-optimized component and compact design for high performance filtration.

The report segments the Europe Hydraulic Filters Market as follows:

Europe Hydraulic Filters Market - By Product

• Suction Filter
• Pressure Filter
• Return Line Filter
• Off-Line Filter
• Breather Filter
• Others

Europe Hydraulic Filters Market - By End-User

• Manufacturing
• Marine
• Automotive
• Chemical and Petrochemical
• Power Generation
• Agriculture
• Construction
• Metal and Mining
• Others

Europe Hydraulic Filters Market - By Country

• France
• Germany
• Italy
• Russia
• UK
• Rest of Europe

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• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the hydraulic filters market, as well as those hindering it
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