Hydraulic filters protect the hydraulic system from damage due to oil contamination or other particles. Every moment, about 1 million particles (greater than 1 micron (1 μm)) enter the compression system. These particles can affect the parts of the hydraulic system. The contamination of compression oil is easy, so, keeping a good water filtration system can increase the hydraulic component lifetime. Hydraulic filters remove these particles and purify the oil continuously. The effectiveness of the entire system is measured by its ability in removing high impurities. Every hydraulic system contains one hydraulic filter. Hydraulic filters between actuators and pumps are referred to as pressure filters and hydraulic filters between actuators and tanks are referred to as low pressure or return line filters.
Market Scope and Structure Analysis
Manufacturers of hydraulic filters have incorporated technology and software to create new models for business. Advanced models are expected to generate revenue streams and build loyalty among customers. Thus digital installation has built the pathway for hydraulic filter manufacturers to introduce equipment or performance based on new business models. Also, integrating compression systems offers the best solutions in modern high-power architecture and hydraulic systems. Moreover, after a few modifications, this e-hydraulic equipment can be easily integrated with conventional systems. Similarly, hydraulic pipes leakage or failure can be found using IoT (Internet of Things). Therefore, digital growth is one of the major factors contributing toward the growth of the hydraulic filters market.
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the production of various products in the hydraulic filters industry attributed to the lockdown in countries worldwide. This has hampered the growth of the market for the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of the product in the first quarter of 2021 and is anticipated to impact the market growth throughout the year.
- In 2020, COVID-19 negatively affected the hydraulic filters market, leading to a decline in the shipping as well as revenue received from them. Due to this, market growth declined in the first half of 2020.
- The COVID-19 epidemic has a devastating effect on the hydraulic filters market prices. The top producing countries like India, U.S., China, and Japan have been hit hard. The automotive, rail, and defense industries see little hope, during the time which is anticipated to continue for a brief period.
- This trend may discontinue in the latter half of the year as the demand is projected to increase due to surge in need from construction machinery, mining industry, petrochemical industry, aerospace, transportation, and marine and mining applications.
Top Impacting Factors
The increase in private-public-partnerships (PPPs) to promote infrastructural development is one of the important driving factors for the hydraulic filter market. Private-public-partnership has been utilized in different countries such as India, South Korea, and others. The boom in PPPs and investments through these channels can help in growing the infrastructure, construction machinery, mining industry, petrochemical industry, aerospace, transportation, and marine industry, therefore, driving the growth of the hydraulic filters market. Moreover, the high mobility feature of hydraulic filters boosts their demand in the utilities and construction sector over the traditionally used static filters.
Hydraulic filters are highly mobile and require less time for installation on different construction or manufacturing sites. This features high versatility to the equipment; surging the demand for hydraulic filters. However, the dearth of skilled labor for efficient operation of hydraulic filters limits the growth of the product in the market. Contrarily, technological developments in hydraulic filter products such as the adoption of remote operation and use of the Internet of things (IoT) and Artificial Intelligence (AI), boost the efficiency of the equipment. This can create lucrative opportunities for the growth of the hydraulic filters market during the forecast period.
- UFI Filters, a market leader of filtration and production business of heat exchangers, hybrid, and electric vehicles, in July 2021, introduced the Heavy-Duty range for the UK and Ireland Aftermarket. This is a major business incentive in partnership with DB Schenker, which will benefit from the extended extension of Tamworth by an additional 12,000 sq.ft. It will be dedicated to the use of more than 400,000 components including 3,000 SKUs of which 725 are made for heavy-duty on-road and off-road applications.
- Donaldson Company Inc., launched the e-commerce website store in 2018, Donaldson.com to make it easier for customers to browse and edit filters. The company is focused on adopting environmental growth strategies such as product launches and expansions to maintain its position in the dynamic market.
- Agro Hytos, one of the leading manufacturers of innovative solutions for hydraulic industry launched EL7 in June 2021. The EL7 offers a wide range of input signals and provides customers the opportunity to switch to the bus interface named CAN. Each item is easily accessible via Bluetooth using the ARGO-HYTOS app, free to download iOS and Android.
Key Benefits of the Report
- This study presents the analytical depiction of the hydraulic filters market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the hydraulic filters market share.
- The current market is quantitatively analyzed to highlight the hydraulic filters market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed hydraulic filters market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the report
- Who are the leading global players in the "hydraulic filters" market?
- What are the current trends and predicted trends?
- What is the "hydraulic filters market"?
- What is "hydraulic filters" market prediction in the future?
- What are the challenges faced in the “hydraulic filters" market?
- What are the driving factors and opportunities in the market?
- What are the key benefits of the "hydraulic filters" market report?
Hydraulic Filters Market Report Highlights
Key Market Players
Hydac, UFI Filter, Donalson, Pall, Eaton, Caterpillar, Mahle, Parker Hannifin, Bosch Rexroth, Yamashin