TechNavio today launched its report, Global Hydraulic Equipment Market 2012-2016, based on an in-depth analysis covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers’ understanding of the significant trends impacting this market.
Commenting on the report, an analyst from TechNavio’s Engineering team said: ”Since the global economic downturn, there has been a steady increase in the economies of Asian countries such as China and India. This has paved the way for the emergence of cost-driven manufacturing companies across Asian countries. Several organizations from the EMEA region and the Americas are increasingly outsourcing their manufacturing activities to developing countries such as India and China. This is mainly because of the availability of low-cost labor and skilled workforce in these countries. In addition, this move helps companies to increase their market presence in new geographies. Thus, the increasing outsourcing of manufacturing activities leads to an increase in investment from both domestic and international vendors. This in turn drives the demand in the Global Hydraulic Equipment market.”
According to the report, one of the main drivers is the increasing demand for hydraulic equipment for material handling and mining equipment. Currently the use of material handling and mining equipment such as drilling machines, electronic overhead travel (EOT) cranes, level luffing cranes, and stackers, one of the major applications of hydraulic cylinders, is widespread in industries such as Construction, Engineering, Power and Energy, Oil Refineries, Food and Beverage, and Retail.
Further, the report reveals that one of the main challenges is the steady transition to pneumatic equipment from hydraulic equipment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-hydraulic-equipment-market-2012-…
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic market research reports on niche and emerging technologies. For more information on our Engineering market research, please visit https://www.technavio.com/engineering-software
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report – Global Hydraulic Equipment Market 2012-2016
