Global demand for the Latin America hydraulic filtration products market is expected to grow at a CAGR of 4.9%, totaling revenue of $251.9 million by the end of year 2032

Growing Focus on Hydraulic Systems Life Cycle Improvement to Drive Latin American Hydraulic Filtration Market US$251.9 million by 2032. With sensor, hydraulic filtration becomes a very popular type of technology.

NEWARK, Del., November 23, 2022 /PRNewswire/ — According to the IMF, the Latin America The hydraulic filtration market is expected to grow from US$156.4 million in 2022 at US$251.9 million by 2032, with global sales showing a CAGR of 4.9% throughout the forecast period.

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The hydraulic filtration market through Latin America is propelled by the growing applications of hydraulic systems in various end-use sectors. Likewise, the growing need to improve the overall efficiency and life cycle of hydraulic systems is pushing the demand for hydraulic filters in the market.

The adoption of hydraulic systems is increasing rapidly in Latin American countries due to the strong expansion of industries such as automotive food and beverage and energy. In order to improve the safety of the internal components of hydraulic systems as well as to increase their service life, industries use hydraulic filters. This will continue to act as a catalyst for the growth of Latin America hydraulic filtration market over the forecast period.

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Installation of hydraulic filters is quick and easy in various industries such as construction and mining equipment. The equipment has a high degree of adaptability, which increases the demand for hydraulic filters.

The growth of the product in the market is, however, limited by the lack of skilled labor necessary for the proper functioning of hydraulic filters. On the other hand, technological advancements in hydraulic filter products, such as the implementation of remote operation and the use of the Internet of Things (IoT) and artificial intelligence (AI) by installing a monitoring sensor of these filters, increase the efficiency of the equipment, which is expected to create high growth opportunities for hydraulic filters in the coming period.

Key insights from market research

  • The Latin America hydraulic filtration market is expected to grow at a CAGR of 4.9% over the coming period owing to the rapid expansion of the industrial sector in the region.

  • By product type, the suction filter segment should contain 1/3rd market share by volume in 2022.

  • Based on technology type, the sensor segment is expected to grow at a CAGR of 4.7% during the forecast period.

  • By sales channel, the secondary market segment is expected to create an absolute dollar opportunity worth US$73.7 million during the forecast period.

  • Brazil should hold about 1/3rd share of value of Latin America hydraulic filtration market by the end of 2032.

“The growing adoption of hydraulic filters in a thriving industrial sector to improve the safety of hydraulic systems is providing a major boost to the growth of the Latin America hydraulic filtration market. said a senior analyst at Future Market Insights.

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Who wins?

Major industry players include Parker Hannifin Corporation, Donaldson Company Inc, Pall Corporation, Eaton Corporation, Filtration Group Industrial, MANN+HUMMEL Group, Moog, Yamashin Filter Corp, MP Filtri SPA, HYDAC, Bosch Rexroth Corporation, Norman and others.

The major manufacturers are focusing on expanding their regional market and helping to mark their direct presence in local markets by expanding their dealer network. Players also work with local distributors to supply their products worldwide.

Get more valuable insights:

The research report analyzes the trend of market demand for Hydraulic Filtration. The Latin America The market is based on the impact of COVID-19, macroeconomic factors, market trends and market context. According to the research scope of Future Market Insights, the Hydraulic Filtration market report is studied and analyzed into the following segments such as product type, technology type, sales channel, end-use, and region. The Hydraulic Filtration market report gives us qualitative and quantitative insights about the businesses.

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Key segments covered in the Latin America Hydraulic Filtration Market Analysis

By product type:

  • Suction filter

  • Pressure filter

  • Come back Row filter

  • Stopped-Row filter

  • Breather filter

  • Others

By type of technology:

  • With sensor

  • Without sensor

By sales channel:

By end use:

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