According to a report published by Transparency Market Research, (www.transparencymarketresearch.com) the value of the North American hydraulic fluid connectors market is expected to reach $4.74 billion by 2020. Valued at $2.84 billion in 2013, the market is anticipated to expand at a CAGR of 7.6% between 2014 and 2020.
The Transparency Market Research report sited aerospace as the sector leading the charge for this growth but also stated “the growing demand for construction equipment in North America, due to various upcoming projects associated with oil and gas, petroleum and rail-road markets, has been contributing significantly towards the growing demand for hydraulic fluid connectors.”
This is interesting. While the overall growth of the market does seem to be stable, we have not been hearing anything about this level of market strength increase. As far back as 2013 we were hearing talk of construction growth but not without caveats.