TechNavio recognizes the following companies as the key players in the Global Hydraulic Equipment Market: Bosch Rexroth Corp., Daikin Industries Ltd., Dongyang Mechatronics Corp., Eaton Corp., and Wipro Infrastructure Engineering Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “There is an increasing use of water glycol and polyol ester fluids, which are fire resistant when used in hydraulic equipment. Hydraulic equipment operating under extreme temperatures leads to the leakage of oil and creates a high risk for fire. Thus, vendors are now using fire-resistant fluids in hydraulic equipment to reduce the potential risk of fire. Thus, the increasing demand for fire-resistant hydraulic fluids is expected to increase the growth of the market during the forecast period.”
According to the report, one of the major drivers in the market is the increasing growth in Construction industry. Hydraulic equipment such as pumps, valves, and cylinders are used in construction equipment such as cranes and forklifts, which are used in the construction of roads, railways, housing, infrastructure, and airports. The increasing construction activities by the developing nations have led to an increase in demand for hydraulic equipment.
Further, the report states that one of the major challenges is the high maintenance costs. Continuous maintenance is required to detect and rectify any failure in the equipment. The major problems identified in hydraulic equipment are the generation of peculiar noise and failure of the equipment under high fluid temperature.
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/report/global-hydraulic-equipment-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report -Global Hydraulic Equipment Market 2014-2018
