Latin America's hydraulic filtration market size reached USD 150.1 million in 2021 and it is likely to surpass a valuation of USD 156.4 million in 2022. Furthermore, with rising adoption across various end-use sectors, the overall demand for hydraulic filtration products across Latin America is expected to rise at 4.9% CAGR between 2022 and 2032, totaling a valuation of USD 251.9 million by 2032.
The use of hydraulic filtration has increased across numerous industrial machinery and mobile equipment as a result of the growth of infrastructural development & industrial development within the region.
Hydraulic filtration consists of hydraulic filters used to remove impurities like contaminants, dust, and other particles from the hydraulic oil. These filters provide safety to components of the hydraulic system by filtering the hydraulic oil and therefore play a key role in enhancing the operating efficiency of the overall system. As a result, these filters are gaining wider popularity amongst end users.
Factors such as leakages, rust, cavitation, aeration, damaged seals, etc. make the hydraulic fluid contaminated, which can cause several problems in hydraulic systems including degradation and malfunctioning. In order to tackle this, industries use hydraulic filters.
Hydraulic filtration is the only effective solution to eliminate contaminants from fluid in use. It helps end users eliminate the presence of foreign particles in hydraulic fluid, protect hydraulic systems from damage, minimize hydraulic downtime, and improve overall efficiency and productivity.
The hydraulic filter type for a specific application is chosen based on its fluid compatibility, application type pressure drop, operating pressure, design, size, etc. Various types of hydraulic filters such as suction filters, pressure filters, return line filters, off-line filters, and breather filters are being employed in hydraulic systems to effectively remove pollutants from hydraulic oil.
The rising adoption of hydraulic systems across thriving industries like manufacturing, construction, automotive, aerospace, and power, to perform various tasks is expected to create prospects for the Latin American hydraulic filtration market during the forecast period.
Population explosion and rapid urbanization in Latin America are demanding enhanced products and services from various end-use sectors such as industrial, mining, agriculture, and construction. To cope with such excessive demands, good operability and higher efficiency of machinery are a must. With the increasing installation of hydraulic systems in industrial as well as mobile equipment, sales of hydraulic filtration are likely to grow at a steady pace during the next ten years.
Manufacturers are working to produce high-quality, low-cost filters to meet changing end-user demands. This aspect also drives product innovation, which boosts demand and sales of hydraulic filters. Additionally, end users prefer products that have a longer life cycle, so that overall spending on maintenance is reduced, which simultaneously increases profit margins.
Currently, the Latin American hydraulic filtration market accounts for around 7 to 10% of its parent market (global hydraulic filtration market).
| Attribute | Key Insights |
|---|---|
| Latin America Hydraulic Filtration Market Base Value (2021A) | USD 150.1 million |
| Estimated Market Value (2022E) | USD 156.4 million |
| Projected Market Value (2032F) | USD 251.9 million |
| Value-based CAGR (2022 to 2032) | 4.9% |
| Collective Value Share: Top 3 Countries (2022) | 80.3% |
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According to FMI, the hydraulic filtration market in Latin America grew at 2.3% CAGR during the historical period from 2017 to 2021. However, with the rapid growth of industrial sectors across countries like Brazil and Chile, the overall sales of hydraulic filtration are projected to increase at 4.9% CAGR between 2022 and 2032.
The rapid growth of industries such as food & beverage, industrial machine, oil & gas, plastic & polymer, and energy & power, increasing production and sales of mobile equipment, and the growing need for protecting hydraulic systems from pollutants are some of the key factors providing impetus to the growth of the Latin America hydraulic filtration market.
In recent years, there has been a robust growth of industrial and commercial construction sectors across Latin America as a result of rising investments in the infrastructure sector. This has generated a huge demand for industrial machinery and mobile equipment which uses hydraulic systems for various applications. This has boosted the sales of hydraulic filters and the trend is expected to continue during the forecast period.
Apart from that prominent manufacturers present in the market are focusing on quality materials and research and development (R&D) for hydraulic filtration production to overcome the rising customer demand. This will further boost the market across Latin America during the next ten years.
Majority of the industries today use hydraulic systems as compared to mechanical, electrical, or pneumatic systems, as they can move heavier loads and exert more force. Without the use of gears, pulleys, or heavy leavers, the fluid power system allows it to easily handle a wide range of weights due to which the installation rate of the hydraulic system has increased in recent years and to enhance the operability for a long period the demand for hydraulic filters has also increased.
It is expected that with the rising installation of hydraulic systems in the end-use sectors, the demand for hydraulic filters in Latin America is expected to have a higher growth rate over the next ten years.
Advancements in Technology and Cost Effectiveness of Hydraulic Filters to Propel Demand.
Through the creation and adoption of new technologies, the hydraulic equipment sector is experiencing a technological revolution. Many hydraulic filters based on breakthroughs and technologies are utilized in planning and management for more effective equipment operations.
The introduction of new raw materials, including micro glass, indicates the stakeholders' increased efforts to promote innovations in the layout and characteristics of new models of hydraulic filters. Prominent manufacturers are launching hydraulic filters to meet the unique needs of end-use applications from various industries. This is expected to boost the Latin America hydraulic filtration market during the forecast period.
Increasing Adoption of Hydraulic Filters in Thriving Plastic & Polymer Processing/Manufacturing Sector to Boost Market
Opportunities for plastic processing continue to grow across a range of industries. Automotive, construction, medicine, and many other industries are all eager to take advantage of the latest innovations in plastic processing. With the emergence of Industry 4.0 and the smart factory, processors need to look at every opportunity to reduce their outlays and increase the overall efficiency of their operations. High-performance hydraulic fluid filters represent an easy opportunity to improve efficiency in a range of areas.
All hydraulic plastic injection mold systems are subject to fluid leakage and contamination. Experts from the industry say that contamination of the hydraulic fluid is the prime reason for nearly 80% of all injection molding machine (IMM) issues. Thus, the role of hydraulic filters becomes more important in the plastic and polymer industry.
The global injection-molded plastics market reached a valuation of USD 273.7 billion in 2021 and it is expected to grow at a strong pace during the forecast period. This in turn will generate a plethora of opportunities for hydraulic filtration manufacturers across Lain America.
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Lack of Quality Control Across the Developing Countries in the Region to Limit Market Expansion
Quality control at various stages of manufacturing is very important for hydraulic filters. However, the growing negligence and low-quality raw material procurement to earn large profit margins lead to the manufacturing of low-quality hydraulic filters. The large-scale production of such low-quality hydraulic filters across developing nations is expected to hamper the overall industry as well as the mobile sector, and thus, in response, it is expected to weaken the demand for hydraulic filters across all major application sectors.
Moreover, various types of hydraulic equipment are required for carrying out different types of operations. Hydraulic equipment is placed in critical work conditions and is required to work in accordance with the regulations, directives, and standards applicable to end-use operations and industry. This will result in costly operations for small and medium-sized industries and will generate pressure on the manufacturing industries to reduce the cost. This is expected to act as a key restraint for the market during the forecast period.
Brazil Remains at the Epicenter of Latin America Filtration Market
As per FMI, Brazil remains the most dominant market for hydraulic filtration systems across Latin America and it is expected to hold more than 1/3rd of the market share during the forecast period. This can be attributed to the robust development of end-use sectors in the country.
Brazil has the largest mining and construction market in Latin America, which includes expanding projects in infrastructure development and mining projects. Similarly, there has been a rapid growth of industries like aerospace, cement, iron and steel production, petroleum processing, automotive, and cement across the country during the last few years.
In addition to this, the food and beverage sector plays a very important role in the manufacturing sub-sector. Brazil's industrial growth has been aided by the accessibility of an inexpensive workforce, an increase in the import of manufacturing machinery, and an abundance of raw materials.
With the rising industrial sector, the installation of hydraulic systems has also increased in the country, resulting in higher demand for hydraulic filters. This will continue to boost the hydraulic filtration market in Brazil during the projected period.
Rising Number of Construction & Mining Equipment Making Chile an Attractive Market
According to Future Market Insights, demand for hydraulic filtration across Chile is projected to rise at 6.0% CAGR during the forecast period from 2022 to 2032. This can be attributed to the rapid growth of industrial and infrastructural sectors across the country.
Chile has been one of Latin America’s fastest-growing economies in recent decades which enables the country to significantly reduce poverty rates and enhance job opportunities by investing significant capital in industrial & Infrastructural sectors. This has created a conducive environment for the growth of the hydraulic filtration market.
Apart from that increasing fleet of construction & mining equipment is playing a key role in elevating the demand for hydraulic systems and hydraulic filtration in the country.
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With Sensor, Hydraulic Filtration is Becoming a Highly Popular Technology Type
As per FMI, the with-sensor hydraulic filter segment is expected to hold more than 2/3rd of the value share in the Latin American hydraulic filtration market during the forecast period. This can be attributed to the increasing inclination of end users towards the monitored hydraulic systems.
With rising industrial automation and increasing technological development, the popularity of digitally connected hydraulic systems is increasing which is expected to drive the demand for sensor hydraulic filters in industrial as well as mobility equipment sectors.
Aftermarket Segment to Generate Lucrative Revenues Throughout the Forecast Period
By sales channel, the aftermarket segment holds the highest share of the Latin America hydraulic filtration market and it is expected to create an absolute $ opportunity of USD 73.7 millionduring the forecast period (2022 to 2032). Increased rate of replacement of these filters in end-use sectors is a key factor behind such excessive sales from the aftermarket sales channel.
Similarly, the availability of hydraulic filtration products at cheaper prices through aftermarket sales channels will further aid in the growth of the target segment over the next ten years.
Leading market players operating in the Latin America hydraulic filtration market include Parker Hannifin Corporation, Donaldson Company Inc, Pall Corporation, Eaton Corporation, Filtration Group Industrial, MANN+HUMMEL Group, Moog, Yamashin Filter Corp, MP Filtri S.P.A., HYDAC, Bosch Rexroth Corporation, Norman and others.
Manufacturing businesses want to increase the availability of their hydraulic filtration on the market through the introduction of safe and developed service offers and collaboration with domestic players. They are continuously introducing new hydraulic filters in the Latin American market to increase their sales and solidify their presence in this region. For instance,
| Attribute | Details |
|---|---|
| Estimated Market Value (2022) | USD 156.4 million |
| Projected Market value (2032) | USD 251.9 million |
| Anticipated Growth Rate (2022 to 2032) | 4.9% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD million for Value |
| Key Regions Covered | Latin America |
| Key Countries Covered | Brazil, Mexico, Argentina, Chile, Peru, and the rest of the Latin American Countries |
| Key Market Segments Covered | Product Type, Technology Type, Sales Channel, & End Use |
| Key Companies Profiled | Parker Hannifin Corporation; Donaldson Company Inc; Pall Corporation; Eaton Corporation; Filtration Group Industrial; MANN+HUMMEL Group; Moog; Yamashin Filter Corp; MP Filtri S.P.A.; HYDAC; Bosch Rexroth Corporation; Norman and others |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
The Latin American hydraulic filtration market is expected to reach USD 156.4 million in 2022.
Sales of hydraulic filtration in Latin America are anticipated to climb at 4.9% CAGR between 2022 and 2032.
The Latin America hydraulic filtration market is expected to reach a valuation of USD 251.9 million by 2032.
The industry segment holds a considerable market share among the end users.
More than 1/3 share of the Latin American hydraulic filtration market is held by the aftermarket sales segment.
Brazil is expected to hold over 35% share of the Latin America hydraulic filtration industry during the forecast period.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Latin America Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Latin America Market - Pricing Analysis 7. Latin America Market Demand (in Value or Size in USD million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 9.1. Suction Filter 9.2. Pressure Filter 9.3. Return Line Filter 9.4. Off-Line Filter 9.5. Breather Filter 9.6. Others 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Technology Type 10.1. With Sensor 10.2. Without Sensor 11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Sales Channel 11.1. OEM 11.2. Aftermarket 12. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use 12.1. Industry 12.1.1. Food & Beverage 12.1.2. Industrial Machine 12.1.3. Marine 12.1.4. Oil & Gas 12.1.5. Paper & Pulp 12.1.6. Pharmaceutical & Medical 12.1.7. Plastic & Polymer 12.1.8. Energy & Power 12.1.9. Others 12.2. Mobile Equipment 12.2.1. Construction 12.2.2. Agriculture 12.2.3. Mining 12.2.4. Forestry 12.2.5. Material Handling/Lifting 13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13.1. Brazil 13.2. Mexico 13.3. Argentina 13.4. Chile 13.5. Peru 13.6. Rest of Latin America 14. Brazil Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Mexico Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Argentina Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Chile Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. Peru Market Analysis 2017 to 2021 and Forecast 2022 to 2032 19. Rest of Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 20. Market Structure Analysis 21. Competition Analysis 21.1. Bosch Rexroth Corporation 21.2. Donaldson Company Inc 21.3. Eaton Corporation 21.4. Filtration Group 21.5. HYDAC Filtertechnik GmbH 21.6. Mann+Hummel Filtration Technology Group Inc 21.7. MP Filtri S.p.A. 21.8. Pall Corporation 21.9. Parker Hannifin Corp. 21.10. Yamashin Filter Corp. 21.11. Norman Filter Company L.L.C. 21.12. Moog, Inc 21.13. Tecfil - Técnica Fabrico De Fios S.A. 22. Assumptions and Acronyms Used 23. Research Methodology
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Latin America Hydraulic Filtration Market
