Hydraulic Filter Market Size, Trends and Growth Analysis by 2027

The hydraulic filters market is projected to expand significantly, increasing from US$ 3,270.99 million in 2019 to US$ 5,933.27 million by 2027. This growth represents a compound annual growth rate (CAGR) of 7.8% from 2020 to 2027.

A key driver of this market growth is the rising investment in the construction sector. For instance, China plans to allocate US$ 13.1 billion towards the development of the Beijing International Airport, which is expected to accommodate approximately 45 million passengers annually from 2019 to 2025. Additionally, the Vincom Landmark-81, a towering 81-story structure standing at 480 meters, is currently under construction in Ho Chi Minh City, Vietnam. Hydraulic filters play a crucial role in ensuring the efficient operation of construction machinery, working in conjunction with a variety of valves, pumps, and actuators. Furthermore, governments worldwide are making substantial investments in infrastructure development. As infrastructure projects increase, so does the demand for hydraulic equipment, including cylinders, pumps, motors, power packs, valves, and filters, which in turn fuels the growth of the hydraulic filters market during the forecast period.

Moreover, numerous construction initiatives are on the horizon, presenting new opportunities for market expansion. A notable example is the 2022 FIFA World Cup in Qatar, which is set to boost construction activities in the Middle East. Local organizations in Qatar are undertaking the construction of nine new stadiums while renovating three existing ones for the event. It is anticipated that investment in such large-scale infrastructure projects will continue to rise significantly over the next decade, further propelling the hydraulic filters market.

In terms of end users, the manufacturing sector dominated the hydraulic filters market in 2019. With the rapid expansion of applications for hydraulic filters, the global market is expected to experience robust growth during the forecast period. Major players in the manufacturing industry are developing hydraulic filters tailored to meet specific needs. Particle contamination can enter the system through the reservoir, arise during the manufacturing of components, or be generated internally by hydraulic components like pumps and motors. This contamination is a leading cause of hydraulic component failure. Hydraulic filters are extensively utilized in manufacturing facilities to remove contaminants from process fluids, thereby protecting sensitive system components from damage. As fluid passes through these filters, their porous media effectively captures particulates and impurities. The versatile application of hydraulic filters in manufacturing is likely to drive market growth throughout the forecast period, as they provide consistent removal efficiency even amid fluctuations in flow and pressure.

The COVID-19 pandemic has had a profound impact on economies and industries globally, leading to lockdowns, travel restrictions, and business closures. The electronics and semiconductor sectors have been particularly hard hit, facing severe disruptions such as supply chain interruptions, cancellations of technology events, and office shutdowns. As China is a major manufacturing hub and a primary supplier of raw materials for various industries, it has been significantly affected by the pandemic. The closure of numerous factories in China has disrupted global supply chains, adversely affecting the production of various electronic goods. Additionally, international travel bans imposed by countries across Europe, Asia, and North America have hindered business collaborations and partnership opportunities. These factors are expected to negatively influence the electronics and semiconductor industry, which in turn may restrain the growth of related markets, including hydraulic filters, in the coming months. The pandemic has caused manufacturing plants, the construction sector, the automotive industry, and other businesses to operate at reduced capacity, further impacting the hydraulic filters market. Additionally, the prices of raw materials for hydraulic filters have been highly volatile due to lockdowns and travel restrictions, which is also expected to hinder market growth during the forecast period.

The overall size of the hydraulic filters market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aimed to provide an overview and forecast for the hydraulic filters market across all segments and regions. Furthermore, multiple primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants typically include industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the hydraulic filters market.

Key players in the hydraulic filters market include Bosch Rexroth Corporation, Donaldson Company, Inc., Eaton Corporation Plc, Filtration Group Industrial, HYDAC, MANN+HUMMEL Group, MP Filtri S.p.A., Pall Corporation, Parker-Hannifin Corporation, and Yamashin Filter Corp..