Report : South America Hydraulic Filters Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product (Suction Filter, Pressure Filter, Return Line Filter, Off-Line Filter, Breather Filter, and Others), and End-user (Manufacturing, Marine, Automotive, Chemical and Petrochemical, Power Generation, Agriculture, Construction, Metal and Mining, and Others)
Power Generation Segment is Expected to be Fastest Growing During Forecast Period for SAM Region
According to a new market research study on “SAM Hydraulic Filters Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Product and End-User” is expected to reach US$ 383.22 million by 2027 from US$ 243.25 million in 2019. The market is estimated to grow at a CAGR of 6.0% from 2020 to 2027. The report provides trends prevailing in the SAM hydraulic filters market along with the drivers and restraints pertaining to the market growth. Technological and digital advancements are providing surge in demand for hydraulic filter and this is the major factor driving the growth of the SAM hydraulic filters market. However, issues associated with fancy installation process including sluggish design process is going to hamper the growth of SAM hydraulic filters market.
The SAM hydraulic filters market is segmented based on the product and end-user. Based on product, the SAM hydraulic filters market is segmented into suction filter, pressure filter, return line filter, off-line filter, breather filter, and others. Return line filter is dominating the market during the forecast period. Based on end-user, the SAM hydraulic filters market is segmented into manufacturing, marine, automotive, chemical and petrochemical, power generation, agriculture, construction, metal and mining, and others. Manufacturing segment held a substantial market share during 2017-2027.
Also the ongoing COVID-19 pandemic is adversely impacting the SAM region. In the SAM, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Ecuador, Peru, Chile, and Argentina. The governments of various countries in SAM are taking several initiatives to protect people and control COVID-19's spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to affect the region's economic growth as the region directly will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners. The outbreak has also resulted in the shutdown of production plants, which has impacted the growth of the automotive, manufacturing, and construction industry, among others and has limited the growth of the hydraulic filters market in the region. Additionally, the sales of passenger vehicles in the region has declined which has resulted in the lower demand of the hydraulic filters market. Therefore, the COVID-19 pandemic outbreak has suppressed the hydraulic filters market in the SAM region.
Bosch Rexroth Corporation; Donaldson Company, Inc.; Eaton Corporation Plc.; Filtration Group Industrial; HYDAC Technology Ltd.; MANN+HUMMEL Group; MP Filtri S.p.A.; Pall Corporation; Parker-Hannifin Corporation; YAMASHIN-FILTER CORP. are among the leading companies in the SAM hydraulic filters market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Eaton Corporation plc launched LOFTREX Nylon a melt-blown depth filter cartridge that can be withstand high temperature operation at 120 °C (248 °F). The LOFTREX Nylon is made up of nylon 6.6 polymer with high melt-blown technology.
The report segments the SAM Hydraulic Filters Market follows:
SAM Hydraulic Filters Market – By Product
- Suction Filter
- Pressure Filter
- Return Line Filter
- Off-Line Filter
- Breather Filter
SAM Hydraulic Filters Market – By End-User
- Chemical and Petrochemical
- Power Generation
- Metal and Mining
SAM Hydraulic Filters Market – By Country
- Rest of SAM
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