According to a recent industry forecast report from Infiniti Research Limited, manufacturers of hydraulic parts and equipment can look forward to slow but steady growth in the next few years. In fact, analysts predict that globally, the hydraulic equipment market will grow 4.86 percent by the end of 2018. The report cited two major reasons for this expected growth.
First of all, the analysts noted that many hydraulic equipment operators are switching from traditional fluids to new water glycol and polyol ester fluids in order to take advantage of their fire resistant qualities. This trend is generating increasing demand for fire resistant fluids, and manufacturers are expected to respond by ramping up production. Therefore fluids are expected to play a big part in the growth of the hydraulic equipment market between now and 2018.
Secondly, the analysts point to increasing growth of the worldwide construction industry as a prime contributor to the growth of the hydraulic equipment market. After all, hydraulic systems such as cranes, forklifts, bulldozers and more are vital for the execution of all kinds of construction projects. The United States, which has been in the grip of an economic slump in the past few years, is finally showing improvement in the construction industry. This should bring growth not only to the manufacturers of the hydraulic parts and equipment needed for American construction projects, but also to the nation as a whole.
The report also discussed the factors that may limit the growth of the hydraulic equipment industry. The main limiting factor is thought to be the high maintenance cost of hydraulic equipment, which effectively prices some consumers out of the market.
If you own or operate any kind of hydraulic equipment, you know firsthand the difficulties of keeping your equipment running in optimal condition. Constant vigilance is required to detect and correct minor problems before they become major ones. Whenever you need help, whether it’s with routine maintenance or an emergency repair, you can count on Bernell Hydraulics. We have some of the most knowledgeable people in the industry plus an extensive selection of parts from all the leading players in the hydraulic equipment industry, like Parker, Eaton, Daikin, and Bosch Rexroth. We’ll get the parts you need installed quickly and correctly so you can get back to work faster.