North America Hydraulic Fluid Connectors Market: Snapshot
The North America market for hydraulic fluid connectors has been witnessing substantial growth over the last few years, thanks to the steady rise in the region’s civil aviation industry. The increasing passenger count for the international and the domestic commute, thanks to the upswing in tourism and business activities, is creating high requirements for new aircraft, which in turn, is influencing the demand for hydraulic fluid connectors in North America. With the U.S. possessing the most powerful air force in the world, the application hydraulic fluid connectors in military aviation is also high in this region.
Hitherto, the presence of some of the leading aircraft manufacturers in North America, such as Boeing, Lockheed Martin, and Bell Aircraft Corp., has been creating lucrative opportunities for the vendors hydraulic fluid connectors in this region and is anticipated to remain doing so over the forthcoming years. However, the stringent government regulations and standards set by the aviation industry may limit the usage of these connectors in the North America aerospace industry to some extent in the years to come. The market, which was worth US$535.9 mn in 2015, is expected to expand at a CAGR of 7.10% between 2016 and 2024 and reach a value of US$987.6 mn by the end of 2024.
Demand for Mobile Hydraulics to Remain High
Mobile hydraulics and stationary hydraulics are the two main products available in the North America market for hydraulic fluid connectors. Mobile hydraulics, among the two, have emerged as the most valued product in this market and is expected to continue to be in this position over the next few years, thanks to the rise in the demand for new and bigger aircraft, along with the subsequent increase in the ground support vehicles.
The mobile hydraulics segment consists of all the equipment, devices, and crafts that are movable, such as aircraft, container carriers, luggage handling vehicles, and tugs. Airport material handling equipment, such as container loaders, and ground support equipment, such as fueling vehicles, de-icing machines, mobile lifts, loaders, and various other movable machines are also included in mobile hydraulics. On the other hand, the stationary hydraulic product segment includes jet-bridge, hangar equipment, and maintenance equipment only.
U.S. to Retain Dominance throughout Forecast Period
The U.S. and Canada are the prime domestic markets for hydraulic fluid connectors in North America. With more than 85%, the U.S. led the North America market for hydraulic fluid connectors in 2015. Researchers expect the domestic market to retain its position over the forthcoming years, thanks to the strong economic growth, the presence of a robust aviation industry, and the high disposable income of consumers in this country. The crunching airfare prices are attracting a large number of passengers to travel via air for domestic trips, which is also expected to propel the civil aviation industry, thereby stimulating the U.S. hydraulic fluid connectors market in the near future.
The North America market for hydraulic fluid connectors is largely consolidated and is dominated by Parker Hannifin Corp. and Eaton Corp. Plc. Other prominent vendors of hydraulic fluid connectors in North America are Kurt Hydraulics, RYCO Hydraulics Pty. Ltd., Manuli Hydraulics, Gates Corp., ALFAGOMMA S.P.A, B&E Manufacturing Co. Inc., Aerocom Specialty Fittings Inc., Atlas Specialty Products, Faber Enterprises, and Titeflex.
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
2. Assumptions and Research Methodology
2.1. Assumptions and Acronyms Used
2.2. Research Methodology
3. Executive Summary
3.1. Market Size, Indicative (US$ Mn)
3.2. Top 3 Trends
4. Market Overview
4.1. Product Overview
4.2. Key Industry Developments
4.3. Market Indicators
4.4. Drivers and Restraints Snapshot Analysis
4.5. Porter’s Analysis
4.5.1. Threat of Substitutes
4.5.2. Bargaining Power of Buyers
4.5.3. Bargaining Power of Suppliers
4.5.4. Threat of New Entrants
4.5.5. Degree of Competition
4.6. Value Chain Analysis
5. North America Hydraulic Fluid Connectors Market Analysis
5.1. Key Findings
5.3. North America Hydraulic Fluid Connector Market Overview for Aerospace Application
5.4. North America Hydraulic Fluid Connector Market for Aerospace Application Value Share Analysis, by Product
5.5. North America Hydraulic Fluid Connector Market for Aerospace Application Forecast, by Product
5.5.1. Mobile Hydraulic
5.5.2. Stationary Hydraulic
5.6. North America Hydraulic Fluid Connector Market for Aerospace Application Market Attractiveness, by Product
5.7. North America Hydraulic Fluid Connector Market for Aerospace Application Value Share Analysis, by Country
5.8. Market Trends
5.9. North America Hydraulic Fluid Connector Market for Aerospace Application Forecast, by Country
5.10. North America Hydraulic Fluid Connector Market for Aerospace Application Market Attractiveness, by Country
5.11. Market Trends
6. Competition Landscape
6.1. North America Hydraulic Fluid Connector Market Share Analysis for Aerospace Application By Company (2015)
6.2. Competition Matrix
6.2.1. Parker Hannifin Corporation
6.2.2. Eaton Corporation Plc
6.3. Company Profiles
6.3.1. Parker Hannifin Corporation
188.8.131.52. Company Description
184.108.40.206. Business Overview
220.127.116.11. SWOT Analysis
18.104.22.168. Financial Details
22.214.171.124. Strategic Overview
6.3.2. Eaton Corporation Plc
126.96.36.199. Company Description
188.8.131.52. Business Overview
184.108.40.206. SWOT Analysis
220.127.116.11. Financial Details
18.104.22.168. Strategic Overview
6.3.3. Kurt Hydraulics
22.214.171.124. Company Description
126.96.36.199. Business Overview
6.3.4. RYCO Hydraulics Pty. Ltd.
188.8.131.52. Company Description
184.108.40.206. Business Overview
6.3.5. Manuli Hydraulics
220.127.116.11. Company Description
18.104.22.168. Business Overview
6.3.6. Gates Corporation
22.214.171.124. Company Description
126.96.36.199. Business Overview
6.3.7. ALFAGOMMA Spa
188.8.131.52. Company Description
184.108.40.206. Business Overview
6.3.8. B&E Manufacturing Company, Inc.
220.127.116.11. Company Description
18.104.22.168. Business Overview
6.3.9. Aerocom Specialty Fittings Inc.
22.214.171.124. Company Description
126.96.36.199. Business Overview
6.3.10. Atlas Specialty Products
188.8.131.52. Company Description
184.108.40.206. Business Overview
6.3.11. Faber Enterprises
220.127.116.11. Company Description
18.104.22.168. Business Overview
22.214.171.124. Company Description
126.96.36.199. Business Overview
7. Key Takeaways
List of Figures
Figure 1: North America Hydraulic Fluid Connectors Market for Aerospace Application
Figure 2: World GDP Growth (Annual %), 2008–2018
Figure 3: U.S. and Canada GDP (US$ Tn) and Annual Growth (%), 2008–2015
Figure 4: Global Commercial Aircraft Fleet Size (Units), 2007–2014
Figure 5: U.S. and Canada Air Transport (Passenger Carried, Million) 2008–2015
Figure 6: North America Hydraulic Fluid Connector Market for Aerospace Application, Size (US$ Mn) Forecast, 2015–2024
Figure 7: North America Hydraulic Fluid Connector Market Attractiveness, by Country
Figure 8: North America Hydraulic Fluid Connector Market Value Share Analysis, by Product, 2015 and 2024
Figure 9: North America Hydraulic Fluid Connectors Market, by Mobile Hydraulic 2015-2024
Figure 10: North America Hydraulic Fluid Connectors Market, by Stationary Hydraulic 2015-2024
Figure 11: North America Hydraulic Fluid Connector Market Attractiveness Analysis, by Product
Figure 12: North America Market Value Share Analysis, by Country, 2015 and 2024
Figure 13: North America Hydraulic Fluid Connector Market Share Analysis By Company (2015)
Table 1: North America Hydraulic Fluid Connector Market for Aerospace Application Size (US$ Mn) Forecast, by Product, 2015–2024
Table 2: North America Hydraulic Fluid Connector Market for Aerospace Application Size (US$ Mn) Forecast, by Country, 2015–2024
North America Hydraulic Fluid Connectors Market: Overview
Hydraulic fluid connectors are usually metal connectors used to join any hydraulic fluid conductor such as hose, pipe, or tube to other hydraulic devises which may include hydraulic pumps, hydraulic motor, reservoir, cylinders, actuators or other hoses and tubes. These connectors are vital for conveying hydraulic fluids from one device to another. These connectors are extensively used in aerospace realm for crucial hydraulic systems such as flight controls, jet engine pumps, landing gear mechanism etc. These connectors have to meet rigorous quality standards and tests so as to be used in aerospace applications.
The report estimates and forecasts the hydraulic fluid connectors market on regional and country levels. The study provides forecast between 2016 and 2024 based on revenue (US$ Mn) with 2015 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. It further includes drivers and restraints for the hydraulic fluid connectors market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market.
It also analyzes opportunities in the hydraulic fluid connectors market on the country level for North America. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of Hydraulic fluid connectors.
North America Hydraulic Fluid Connectors Market: Research Methodology
The report applies Porter’s Five Forces Model to determine the degree of competition in the hydraulic fluid connectors market. It comprises qualitative write-up on market attractiveness analysis, wherein end-users and countries have been analyzed based on attractiveness for each country. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market.
It provides comprehensive view of the hydraulic fluid connectors market for North America by dividing it into product and country. The Hydraulic fluid connectors market for aerospace has been segmented by product into mobile hydraulic and stationary hydraulic. Geographic segmentation includes the current and forecast demand for hydraulic fluid connectors in North America by country namely U.S. and Canada. The segments have been analyzed based on historic, present, and future trends.
North America Hydraulic Fluid Connectors Market: Competitive Analysis
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the North American market. Major players profiled in the report include Parker Hannifin Corporation, Eaton Corporation Plc, Kurt Hydraulics, Titeflex, and Faber Enterprises. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
The North America hydraulic fluid connectors market for aerospace application has been divided into the following segments:
- Mobile Hydraulic
- Stationary Hydraulic