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The hydraulic manifold market in UK is estimated to grow at a CAGR of 3.49% between 2022 and 2027. The size of the market is forecast to increase by USD 2.86 million. The growth of the market depends on serval factors, including the growing demand from end-user industries, the stringent regulatory norms and standards on vehicular emissions, and the growing deep mining industry.
This report extensively covers market segmentation by application (oil field and farm equipment, heavy construction equipment, production and material handling equipment, off-highway equipment, and others) and type (mono-block manifolds and modular manifold blocks). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the hydraulic manifold market in the UK as a part of the global industrial machinery market. The parent global industrial machinery market covers companies engaged in manufacturing industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The stringent regulatory norms and standards on vehicular emissions are notably driving the market growth, although factors such as the volatility in raw material prices may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Hydraulic Manifold Market Driver In UK
The stringent regulatory norms and standards on vehicular emissions are a key factor driving the growth of the hydraulic manifold market growth in UK. Government norms and regulations in the construction machinery and heavy trucks industry are playing an important role in making vehicles safer, fuel-efficient, and environmentally friendly. These norms and standards are set for regulating and standardizing various vehicle parameters such as fuel consumption, pollution levels, and safety.
Such norms act as market drivers as they compel vendors to improve the designs of the hydraulics manifold, which contributes to the revenue generation of vendors operating in the market. Moreover, the UK government has imposed stringent regulations which led to improvements in the design and manufacturing of exhaust systems, including hydraulics manifolds and catalytic converters, among others. Such factors are expected to drive the growth of the market incus during the forecast period.
Significant Hydraulic Manifold Market Trend In UK
The growing use of 3D printing is the primary trend in the hydraulic manifold market growth in UK. Hydraulic manifold manufacturers are leveraging 3D printing within their products, which helps in improving energy and design efficiency. 3D printing also helps in reducing the cost of manufacturing and provides lighter and less expensive hydraulic manifolds. Removal of excess metal than necessary is costly, and frequently, the excess metal is not chipped, which results in more weight. In a metal 3D printing process, like selective laser sintering, a laser traces a micron-thin cross-section of a part, selectively melting and fusing a metal powder layer by layer.
This allows engineers to control the amount of material that goes into the part, using less metal than CNC machining would require. Vendors are leveraging such developments to improve efficiency. For instance, Hydra products are leveraging 3D printing for hydraulic manifolds that allows the designing and manufacturing of lightweight manifolds using minimal materials. Such benefits are likely to propel the growth of the market focus during the forecast period.
Major Hydraulic Manifold Market Challenge In UK
The volatility in raw material prices is a major challenge to the growth of the hydraulic manifold market growth in UK. Instability in raw material prices affects the cost of production of the hydraulic manifold. Usually, raw materials such as stainless steel, aluminum, and others are required for manufacturing hydraulic manifolds. These materials are preferred because of their physical properties. However, as these materials are traded as a commodity, their prices are influenced by factors such as inflation, availability, and production. These commodities are highly susceptible to demand and supply metrics. Such factors are negatively impacting the revenue of steel vendors operating in the UK.
To overcome these fluctuations, vendors constantly try to remain competitive in the market. Globally, established vendors are increasingly focusing on vertical integration with their suppliers in a bid to minimize price fluctuations. Other medium-level vendors find themselves incapable of coping with such instability in raw material pricing and hence lose market share to bigger vendors. Such factors are likely to hamper the growth of the market in focus during the forecast period.
Key Hydraulic Manifold Market In UK Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Hydraulic Manifold Market in UK Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
dreelsideengineering.co.uk - This segment focuses on offering hydraulic manifolds such as Cetop manifolds and In-line manifolds. Also, this segment focuses on manufacturing bespoke hydraulic manifolds, blanking plates, adaptor plates, and more.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the oil field and farm equipment segment will be significant during the forecast period. The oilfield and farm equipment segment is expected to grow steadily during the forecast period. The growing demand for energy exploration, rising industrialization, and an increasing number of exploration and production projects will drive the growth of the segment in focus during the forecast period.
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The oil field and farm equipment segment was valued at USD 5.15 million in 2017 and continue to grow by 2021. The demand for oil and gas has been rising owing to factors such as economic recovery, rise in industrial activities, and high demand for heat because of the prevalent cold weather conditions. Such factors are increasing investments in the upstream sector in the continent, which is further driving the growth of the segment in the UK. Such projects are likely to propel the growth of the segment in focus, which is expected to positively impact the growth of the market in focus during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Hydraulic Manifold Market Scope In UK |
|
Report Coverage |
Details |
Page number |
127 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.49% |
Market growth 2023-2027 |
USD 2.86 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.08 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Approved Hydraulics Ltd., Dreelside Engineering Ltd., Eaton Corp. Plc, Eurofluid Hydraulic S.r.l., Heap and Partners Ltd., Helipebs Controls Ltd., HydraForce, Inc., Hydraproducts Ltd., Hyserve Ltd., Indutrade AB, Ipswich Hydraulics Ltd., Parker Hannifin Corp., Related Fluid Power Ltd., Renishaw Plc, Robert Bosch GmbH, SCX Special Projects Ltd., T A Savery and Co. Ltd., The West Group Ltd., Universal Hydraulics Ltd., and Wandfluh UK Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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