Technology

Hydraulic Filter Market Revenues Grew at a Modest 3.5% CAGR Between 2018-2028

During 2013-2017, the hydraulic filter market revenues grew at a modest 3.5% CAGR, with a significantly high demand for hydraulic filters and lube oil filters in the aerospace industry. In 2018, the hydraulic filter market reached US$ 1.8 billion and it is expected to record 4.0% y-o-y in 2019. With the rapidly expanding range of end-use applications of hydraulic filters, the global market is estimated to grow at a healthy 4.5% CAGR during the forecast period 2018-2028. Asia Pacific is a leading market for hydraulic filters with over one-third revenue share of the global market. China will generate positive growth opportunities for hydraulic filter manufacturers despite fluctuating raw material prices in the Asia Pacific region.

High maintenance and replacement costs and increased downtime are among the key drawbacks of hydraulic filters, and end-users are likely to prefer more robust and cost-effective alternatives such as lubrication system filters.

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The complex installation process of hydraulic filters creating challenges for market players to attract more customers and boost profitable sales.

End-users’ concerns about hydraulic fluid leakages and hydraulic filter efficiency are forcing manufacturers to introduce electric filters, which may cannibalize sales of hydraulic filters in the coming years.

Parker Hannifin Corp.

Founded in 1918, Parker Hannifin Corp. is headquartered in Ohio, U.S. The company offers a product portfolio that includes crankcase ventilation filtration, air filtration, and fuel filtration based on its motion and control technologies. Parker Hannifin’s key strategies are mainly focused on boosting innovation to consolidate its position in aerospace and defense markets.

Bosch Rexroth AG

Bosch Rexroth AG was founded in 2001 and is headquartered in Lohram Main, Germany. The company has established its strong presence in the hydraulic filters market with its expertise in electric drives and control technology, gear technologies, and linear motion and assembly technologies for mobile applications.

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Arun G

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