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Asia Pacific to Become Largest Market for Industrial Hydraulic Components in 2014
Date: 29 November 2011

The world market for hydraulic components used in industrial applications grew 25% to reach $7.9 billion in 2010 as almost two thirds of revenues lost during the downturn in 2009 were recovered. This strong growth carried over into 2011, and the latest indications are that growth of 13% will ensure global revenues reach almost $9 billion by the end of the year representing a return to 2008 levels. However, whilst overall revenues may have returned to familiar levels, the proportion of the market accounted for by each major region continues to change significantly.

As of 2008, EMEA represented over 40% of the industrial market for hydraulic components, and estimated to be $3.6bn, which was 10% ($895m) larger than Asia Pacific. However after the 2009 market decline and subsequent recovery in 2010, the sustained momentum of Chinese industry had effectively offset the 40% contractions seen in Japan so that Asia Pacific accounted for almost 35% of global revenues. This represented a market share increase of almost five percent in two years.

Principal Analyst Robert Carter states “By 2010, EMEA was still the largest market for industrial hydraulic components, despite losing over three percent share to Asia since 2008. However, sustained recovery of the European market in 2011, combined with high demand from within Middle Eastern oil, gas and mining sectors after 2012, will add significant growth stimulus to the EMEA market, and slow the rate at which Asia increases global share”

Carter continues, “But this will only delay the inevitable change in regional market ranking. Current indications are that the market for industrial hydraulic components in Asia is set to exceed that of EMEA in 2014, at which point Asia Pacific will be the largest market exceeding $3.9billion.”
 

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Editors Note :
This report focuses only on hydraulic pumps, motors, cylinders and valves that are used in industrial (all non-mobile) applications. As a result, products used on all vehicles are excluded from the data and subsequent analysis.
About IHS Inc. (www.ihs.com)

IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today’s business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS employs more than 5,600 people in more than 30 countries around the world.

About IMS Research:
IMS Research is a leading independent supplier of market research and consultancy to the global electronics industry, offering syndicated market studies, custom research and consultancy services. Clients include most of the household names in the industry. IMS Research has offices in Europe, the US, China, Taiwan, South Korea, and Japan. To find out more, contact IMS Research: enquiries@imsresearch.com; T: +44 (0) 1933 402255; http://imsresearch.com