North America Hydraulic Fluid Connectors Market Is Expected to Reach USD 4.74 Billion in 2020 by TMR

Albany, NY -- (SBWire) -- 03/16/2015 --Transparency Market Research Reports incorporated a definite business overview and investigation inclines on "Hydraulic Fluid Connectors Market". This report likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide business sector industry structure.

According to a new report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Hydraulic Fluid Connectors (Mobile Hydraulic and Industrial Hydraulic) Market for Aerospace, Agriculture, Construction Equipment, Material Handling and Other Applications - North America Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" the North American demand for hydraulic fluid connectors valued at USD 2.84 billion in 2013 and is expected to be USD 4.74 billion in 2020, growing at a CAGR of 7.6% from 2014 to 2020.

Increasing demand for hydraulic fluid connectors due to the growth of the U.S. aerospace industry is expected to be one of the major factors driving the market. Moreover, the growing demand for construction equipment in North America, due to various upcoming projects associated with oil and gas, petroleum and rail-road markets, has been contributing significantly towards the growing demand for hydraulic fluid connectors. However, the increasing implementation of pneumatic components and fluid connectors over hydraulics is expected to slow down the growth of the market over the forecast period. Increasing consumption of bio-based raw materials in hydraulic fluid connectors and implementation of bio-based hydraulic fluids in hydraulic mechanisms are anticipated to provide new opportunities for the growth of the market.

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In 2013, demand for hydraulic fluid connectors in North America was the highest for mobile hydraulic equipment, accounting for over 67% of the market share. Moreover, this segment is expected to witness the fastest growth rate on account of the growth of certain mobile industries in the region including agriculture and aerospace. With demand rising for commodities such as food and textile due to rising disposable incomes and growing population, agricultural activities have been on the rise in the region. This has boosted the demand for hydraulic fluid connectors in certain agriculture equipment such as tractors combines & harvesters.

Aerospace accounted for the largest application segment in the hydraulic fluid connectors market in North America, in 2013. Over the years, increasing production of civil aircrafts has been witnessed on account of certain factors such as rising demand for leisure and business travel domestically and internationally. However, market growth in the future is expected to come from the agriculture industry, rising at a CAGR of 7.9%, from 2014 to 2020. Owing to the rising number of agricultural activities due to the rising demand for food, textiles and clothing, demand for fluid connectors such as hoses and fittings for various hydraulic applications is anticipated to rise significantly over the forecast period.

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North America Hydraulic Fluid Connectors Market: Product Segment Analysis

- Mobile hydraulic
- Industrial hydraulic

North America Hydraulic Fluid Connectors Market: Application Analysis

- Aerospace
- Agriculture
- Construction equipment
- Material handling
- Others (Marine, heavy truck, mining, etc.)

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