Hydraulic Fluid Connectors Market - North America Industry Analysis, Size, Share 2024
North America Hydraulic Fluid Connectors Market: Snapshot
The
North America market for hydraulic fluid connectors has been witnessing
substantial growth over the last few years, thanks to the steady rise
in the region’s civil aviation industry. The increasing passenger count
for the international and the domestic commute, thanks to the upswing in
tourism and business activities, is creating high requirements for new
aircraft, which in turn, is influencing the demand for hydraulic fluid
connectors in North America. With the U.S. possessing the most powerful
air force in the world, the application hydraulic fluid connectors in
military aviation is also high in this region.
This
58 page report gives readers a comprehensive overview of the Hydraulic
Fluid Connectors Market. Browse through 2 data tables and 13 figures to
unlock the hidden opportunities in this market.
Hitherto,
the presence of some of the leading aircraft manufacturers in North
America, such as Boeing, Lockheed Martin, and Bell Aircraft Corp., has
been creating lucrative opportunities for the vendors hydraulic fluid
connectors in this region and is anticipated to remain doing so over the
forthcoming years. However, the stringent government regulations and
standards set by the aviation industry may limit the usage of these
connectors in the North America aerospace industry to some extent in the
years to come. The market, which was worth US$535.9 mn in 2015, is
expected to expand at a CAGR of 7.10% between 2016 and 2024 and reach a
value of US$987.6 mn by the end of 2024.
Demand for Mobile Hydraulics to Remain High
Mobile
hydraulics and stationary hydraulics are the two main products
available in the North America market for hydraulic fluid connectors.
Mobile hydraulics, among the two, have emerged as the most valued
product in this market and is expected to continue to be in this
position over the next few years, thanks to the rise in the demand for
new and bigger aircraft, along with the subsequent increase in the
ground support vehicles.
The
mobile hydraulics segment consists of all the equipment, devices, and
crafts that are movable, such as aircraft, container carriers, luggage
handling vehicles, and tugs. Airport material handling equipment, such
as container loaders, and ground support equipment, such as fueling
vehicles, de-icing machines, mobile lifts, loaders, and various other
movable machines are also included in mobile hydraulics. On the other
hand, the stationary hydraulic product segment includes jet-bridge,
hangar equipment, and maintenance equipment only.
U.S. to Retain Dominance throughout Forecast Period
The
U.S. and Canada are the prime domestic markets for hydraulic fluid
connectors in North America. With more than 85%, the U.S. led the North
America market for hydraulic fluid connectors in 2015. Researchers
expect the domestic market to retain its position over the forthcoming
years, thanks to the strong economic growth, the presence of a robust
aviation industry, and the high disposable income of consumers in this
country. The crunching airfare prices are attracting a large number of
passengers to travel via air for domestic trips, which is also expected
to propel the civil aviation industry, thereby stimulating the U.S.
hydraulic fluid connectors market in the near future.
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The
North America market for hydraulic fluid connectors is largely
consolidated and is dominated by Parker Hannifin Corp. and Eaton Corp.
Plc. Other prominent vendors of hydraulic fluid connectors in North
America are Kurt Hydraulics, RYCO Hydraulics Pty. Ltd., Manuli
Hydraulics, Gates Corp., ALFAGOMMA S.P.A, B&E Manufacturing Co.
Inc., Aerocom Specialty Fittings Inc., Atlas Specialty Products, Faber
Enterprises, and Titeflex.
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