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

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

  • November 2020 •
  • 142 pages •
  • Report ID: 5999651 •
  • Format: PDF
The hydraulic filters market in APAC is expected to grow from US$ 646.93 million in 2019 to US$ 1,300.59 million by 2027; it is estimated to grow at a CAGR of 9.3% from 2020 to 2027. The market players are coming up with new and innovative products to sustain the competitive edge and focus on the launch of products that could keep the fluid contaminant free. Hydraulic fluid is also referred to as the "life-blood" of hydraulic systems, and it is essential to keep this fluid free of contaminants to prevent damage and increase the life cycle of these systems. For example, Bosch Rexroth has used the power of its innovative engineering to launch a new generation of advanced micro-glass material hydraulic filter elements with a unique six-layer design that provides 50% more dirt-holding capacity, which, in turn help to reduce the total cost of ownership (TCO) of the hydraulic system. Thus, enhanced filtering capacity due to the introduction of latest products is one of the major factors driving the growth of APAC hydraulic filters market during the forecast period. Further, the development of hydraulic filters with cyclone effect technology is the other factor expected to fuel the demand for hydraulic filters market in APAC.
Based on product, the pressure filter segment is expected to be the fastest growing segment during the forecast period for the APAC hydraulic filters market.Pressure filter are same in concept to rapid gravity filters, excluding that they are contained in a steel pressure vessel.

As the pressure filters are compact, they are easy to clean.A pressure filter is generally used to clean up the water in ponds, waterfalls, and fountains.

As the pressure filter can easily stand high pressure, it is capable to bridge a difference in height.It is useful in combination with a waterfall or fountain.

These pressure filters reduce the number of suspended solids in the feed water by filtering water through multi-layered filter bed. Pressure filters are in high demand across several applications because of its compact design which is also boosting hydraulic filters market in APAC.
However, the ongoing COVID-19 pandemic is having a negative impact over APAC region.The India and China are the two most populated countries as well as manufacturing hubs in the APAC region.

The strict lockdown and social isolation in China have negatively impacted the manufacturing as well as production of numerous equipment and machinery including hydraulic filters for several weeks, resulting in shrinking its country economy.Moreover, the country also isolated its import as well as export of critical raw materials and industrial equipment for numerous industry vertical impacting the supply chain of various end-user industries thus impacting hydraulic filters market also.

Similarly, India also imposed a nationwide lockdown to mitigate the increasing number of COVID-19 cases across the country.Additionally, the closure of several retailers, distributors, and other important distribution channels also has reduced the availability of hydraulic filters or its related component from other region based hydraulic filters market players.

The governments of various countries in APAC are taking possible steps to reduce the COVID-19 effects by renouncing lockdown, which in turn will impact the revenue generated by the hydraulic filters market.
The overall APAC hydraulic filters market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the hydraulic filters market.

The process also serves the purpose of obtaining an overview and forecast for the APAC hydraulic filters market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts, such as VPs, business development managers, hydraulic filters market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the APAC hydraulic filters market. 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; and YAMASHIN-FILTER CORP. are among a few players operating in the APAC hydraulic filters market.

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