Hydraulic Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (202Posted by Statzy Market Research on April 24th, 2021 The rise in the need for energy and discoveries of new shale fields are compelling the E&P companies to expand their exploration programs and supporting the demand. - In an attempt to offer differentiated products, an increasing number of hydraulic equipment manufacturers are offering various integrated hydraulic cylinder systems as well as solutions. The differentiation mentioned above method helps these manufacturers to enhance the value through the delivery of systems or subsystems that include cylinders as well as ancillary products like pumps and valves. These integrated offerings also help in strengthening the ability to mop up profits from maintenance and aftermarket services. From the perspective of the end-users, the above arrangement translates into a more efficient design, offers better engineering and purchasing solutions, and also lowers the overall costs of operations. Free Sample report for this report is available :- https://www.statzyreports.com/report/sr496764/hydraulic-equipment-market Key Market Trends - Double acting and single acting are the main functional trends of the hydraulic cylinder industry. Double-acting hydraulic cylinders are anticipated to register significant growth owing to their usage in applications where gravity is the prominent factor, affecting the acceleration and retardation. - In addition, double-acting function based hydraulic cylinders is extensively used for heavy trucks, forklifts, and earth moving equipment, which will considerably drive overall hydraulic cylinder market share. - Further, the growing construction industry is expected to augment the Hydraulic Cylinders Market demand over the forecast period. According to a combined study by Global Construction Perspective (GCP) and Oxford Economics, the construction industry is expected to reach a value of USD 15.5 trillion by 2030. Majority of the growth is expected to arrive from countries such as India, China, and the US. This, along with technological developments in the core construction and infrastructure industry, is expected to advance the Hydraulic Cylinders Market trend further. - According to the USGS National Minerals Information Center, the US produced over USD 82 billion of raw mineral materials in 2018, which increased by almost 3% over the revised total of USD 79.7 billion in 2017. - The positive outlook of these mining domains in the region has resulted in the improved demand and sales of the mining equipment, which in turn drives the demand for hydraulic equipment market. For sample report please visit : https://www.statzyreports.com/report/sr496764/hydraulic-equipment-market Like it? Share it!More by this author |