Fluid Power Valves & Hose Fittings
The market for fluid power valves is expanding as a result of rising factory automation, rapid adoption of international motor efficiency requirements, and the launch of numerous user-friendly fluid products.
In addition, the industrial outlook is being boosted by rising vehicle production volumes, increased urbanization, and an increase in the number of multinational firms, supply chains, and stores. Additional factors driving the development of the fluid power valves business include booming applications from end-use industries including automotive, oil & gas, medical equipment, and agricultural machinery, as well as expanding outlets and local supply chains.
Whereas, the market for hydraulic hose fittings is expanding significantly due to the modernization of agriculture and the expansion of the agriculture machinery sector, while certain factors, such as changes in the price of raw materials, could restrain this growth.
The growth of unconventional E&P projects has a significant impact on the global hydraulic hose and fittings market. Hydraulic hose and fittings market expansion will be hampered by fluctuating raw material costs.
Due to factors such as rapid urbanization and industrialization, which have led to an increase in construction projects in the region, hydraulic hose and fittings demand is expected to grow significantly in APAC over the forecast period.
Fluid Power Valves & Hose Fittings Products
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