This report examines the global hydraulic connectors market by product type, end use application, and geography. The market for hydraulic fluid connectors can also be classified by end-use application. This includes construction and earthmoving, aviation, agricultural, industrial manufacturing, material handling, and automotive. The demand for agricultural equipment is increasing due to a growing population and the consequent demand for food, textile and other goods. This has led to a rise in demand for hydraulic connectors used in agricultural equipment. These factors will contribute to a CAGR in the 2022-2013 forecast period. In 2021, mobile fluid connectors dominated the global hydraulic fluid connectors market. This segment was responsible for more than two-thirds of total market revenue in the same period. This trend will continue and the segment is expected to maintain its dominant position in the 2022-2030 forecast period. This segment's growth can be attributed to the demand from the mobile hydraulics industry, which includes agriculture, defense and aerospace. Mobile hydraulic fluid connectors market has been driven by a strong aviation industry in developed countries like the U.S. Mobile hydraulic fluid connectors, for instance, account for more than 85% of U.S. market revenue. In 2021, aerospace was closely followed by agriculture. This segment was responsible for nearly 25% of global market revenue the previous year. This segment's growth can be largely attributed to the steady growth of production of civil and military planes for leisure travel, business, or defense purposes. The rapid recovery of the construction industry after economic recession in developed countries, coupled with infrastructural developments in emerging economies, has contributed to the rise in demand for hydraulic fluid connectors. The agriculture segment will see the greatest growth in demand during the 2022-2030 period. What are the most important investment areas in product segments and geographies, both now and for the forecast period?
SOURCE Research and Markets