South America Hydraulic Filters Market
The SAM region comprises several developed and developing economies, such as Brazil, Chile, Argentina, Peru, and Colombia. These countries are experiencing a rise in the middle-class population as well as growth in urbanization. Also, there is a significant shortage of housing in the region. For the development of the infrastructure, governments of economies in the region are focusing on attracting private investments. For instance, in 2016, Law 13,334 introduced the Investment Partnership Program (Programa de Parceria de Investimentos or PPI) in Brazil, aiming to expand the interaction between the state and the private sector through partnership agreements to implement public infrastructure projects and other privatization measures. Such initiatives are likely to drive the constructions sector in South America and propel the demand for hydraulic filters during the forecast period.
According to the International Trade Administration, Chile needs to invest 3.5% of the country's GDP in obtaining a similar level of infrastructure as developed countries. However, currently, the country invests approximately 2.5% of its GDP on infrastructure development. The country's government announced a US$ 28 billion Infrastructure Master Plan in 2014, aimed at the development of Chile's infrastructure by 2021. Such investments are further anticipated to positively impact the growth of the construction sector in the region. Furthermore, Argentina's government is concentrating on attracting FDIs by taking several initiatives, such as easing import restrictions, signing international bilateral agreements, and loosening restrictions on foreign investments. Such initiatives are expected to help in the development of businesses in the SAM region, thereby contributing toward the growth of various sectors, such as manufacturing, marine, automotive, chemical and petrochemical, power generation, agriculture, and metal and mining. This is ultimately leading to increased demand for hydraulic filters for smooth functioning of the machines used in the above mentioned sectors. Further, growing production of vehicles in this region is likely to boost the growth of the SAM hydraulic filters market.
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.
Strategic insights for the South America Hydraulic Filters provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 243.25 Million |
| Market Size by 2027 | US$ 383.22 Million |
| Global CAGR (2020 - 2027) | 6.0% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Hydraulic Filters refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The hydraulic filters market in SAM is expected to grow from US$ 243.25 million in 2019 to US$ 383.22 million by 2027; it is estimated to grow at a CAGR of 6.0% from 2020 to 2027. Further, growing production of vehicles in this region is likely to boost the growth of the SAM hydraulic filters market. For example, according to the Brazil Nation Association of Automobile Manufacturers Anfavea, car production in Brazil increased by 14.6% compared to 2017 in the first three months of 2018, as manufacturers increased output to meet growing domestic demand. Therefore, increasing production of vehicles is boosting the demand for hydraulic filters in this region proportionately, thereby boosting the SAM hydraulic filters market market growth in the region.
In terms of product, the return line filter segment accounted for the largest share of the SAM hydraulic filters market in 2019. In terms of end-user, the manufacturing segment held a larger market share of the SAM hydraulic filters market in 2019.
A few major primary and secondary sources referred to for preparing this report on the hydraulic filters market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
The South America Hydraulic Filters Market is valued at US$ 243.25 Million in 2019, it is projected to reach US$ 383.22 Million by 2027.
As per our report South America Hydraulic Filters Market, the market size is valued at US$ 243.25 Million in 2019, projecting it to reach US$ 383.22 Million by 2027. This translates to a CAGR of approximately 6.0% during the forecast period.
The South America Hydraulic Filters Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Hydraulic Filters Market report:
The South America Hydraulic Filters Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Hydraulic Filters Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Hydraulic Filters Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For South America Hydraulic Filters Market
