North America Hydraulic Fluid Connectors MarketSize and Trends
Market Trends
Advanced component for the hydraulic fluid
- Increasing research and development by manufacturers to develop a more advanced component for the hydraulic fluid system in order to meet the evolving demand is gaining traction in the market. Moreover, growing industrial activities across remote applications where heavy-duty vehicles are used in material handling, mining, and construction industries are further anticipated to foster market growth over the forecast period.
- Mergers and acquisitions by key players in the market for business expansion is an emerging trend in the market. For instance, in January 2020, Danfoss announced that it has entered into a contract to acquire Eaton’s Hydraulics business for a cash purchase price of US$ 3.3 billion (approximately 3.0 billion EUR). The acquisition is fully in line with Danfoss’ strategy to strengthen the mobile and industrial hydraulics market.
Market Segment
- North America Hydraulic Fluid Connectors Market by Product Type in 2022 - The mobile hydraulic segment dominated the North America Hydraulic Fluid Connectors Market in 2022 accounting for 67.5% of the share. Industrial hydraulics respectively.
Figure 1: North America Hydraulic Fluid Connectors Market by Product Type in 2022
- North America Hydraulic Fluid Connectors Market by Region in 2022 - Regionally, U.S. dominated the North America Hydraulic Fluid Connectors Market in 2022, reporting a market share of 61%, followed by Canada, Mexico, etc.
Figure 2: North America Hydraulic Fluid Connectors Market by region in 2022
- North America Hydraulic Fluid Connectors Market by Application in 2022 - On the basis of application, the North America hydraulic fluid connectors market is dominated by others segment accounting for 32.4% of the market share followed by the aerospace and agriculture segment.
Figure 3: North America Hydraulic Fluid Connectors Market by Application in 2022
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