Jan 23, 2020
Hydraulic Valves to Garner ~30% Market Shares with Construction and Agricultural Machinery Sustaining Growth, Projects Fact.MR
by Team Fact.MR
Rising demand of hydraulic valves in construction and agricultural machineries is one of the key driving factors for the hydraulic valves market. Increase in farm mechanization is accelerating the use of agricultural machineries, while development in infrastructure projects and transportation facilities will propel the demand for construction machinery. Construction & Agricultural machinery together, are estimated to provide ~US$ 800 Mn absolute dollar opportunity in the global market by the end of 2029.
Further, effective integration of latest technologies such as 3D printing & Internet of Things (IoT) is expected to unlock future growth prospects in the global market. Prominent manufacturers are capitalizing significantly in their R&D endeavors to strike a fine balance between cost and effectiveness of hydraulic valves. The report estimates that the market is foreseen to expand by ~1.4 times to reach a valuation of ~US$ 2 Bn by end of 2029.
Key Takeaways of Hydraulic Valves Market
- Collectively, construction and agriculture machinery are foreseen to contribute nearly 41% to the overall value opportunity in the global market by 2029 end
- Demand for hydraulic valves with flow rate of 201-500 L/min is projected to expand ~1.5 times as compare to 2019
- North America will remain the most lucrative region across the projection period, accounting for more than 40% value share in the global market
- Pressure Control valve is estimated to account for over one third of the overall hydraulic valve market value by end of the forecast duration
- Automated operations are expected to grow 1.3 X faster than the manual operation segment over the course of forecast duration
“Advancement of hydraulic valves with integrated embedded processors and network capability has increased the reliability and responsiveness of flow control” says the Fact.MR analyst
Product Development and Innovation Remains in the Vanguard
The hydraulic valve market can be construed as a fragmented market. Bosch Rexroth, Eaton Inc., Kawasaki Heavy Industries, Helios Technology, Enerpac Tools Group, Parker-Hannifin, Curtiss-Wright, Danfoss Industries and Hydraforce are the largest competitors in the hydraulic valve market. The competitors have been seen to be moving to East Asia & South Asia to gain a foothold. Furthermore, the top competitors are launching new products to meet the increasing demand of end-use industries. For Instance:
- In December 2019, Sun Hydraulics launched a new FleX Series 3-way, direct-acting, solenoid-operated, directional blocking poppet valve. These new directional valves offer low leakage and are used for load holding applications
- In October 2019, Kawasaki Heavy Industries introduced K3VLC85 variable displacement pump and KLSS18 directional control valve for agricultural equipment. KLSS18 valve is used in construction and can be designed to meet the needs of agricultural tractors by including features such as hitch control
Find More Valuable Insights on Hydraulic Valve Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global hydraulic valve market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the hydraulic valve market based on product type (directional control valve, pressure control valve and flow control valve), flow rate (below 50 L/min, 50-200 L/min, 201-500 L/min, 501-1,000 L/min and above 1,000 L/min) and end-user (construction machinery, agricultural machinery, material handling, automotive, oil & gas, power generation, metal & mining, and others), operation (Manual and Automated) across seven major regions.
To Get more insights on hydraulic valve market, visit- https://www.factmr.com/report/3955/hydraulic-valve-market
About the Industrial Division at Fact.MR
Being a consortium of a large number of sub-industries, not many market research companies are being able to fulfill the requirements of consumer product clients. Though, Fact.MR industrial goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio.