Report : Middle East & Africa Hydraulic Filters Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product (Suction Filter, Pressure Filter, Return Line Filter, Off-Line Filter, Breather Filter, and Others), and End-user (Manufacturing, Marine, Automotive, Chemical and Petrochemical, Power Generation, Agriculture, Construction, Metal and Mining, and Others)
Chemical and petrochemical Segment to Dominate MEA Hydraulic Filters Market during 2019–2027
According to The Insight Partners market research study on “MEA Hydraulic Filters Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Product and End-User” is expected to reach US$ 245.82 million by 2027 from US$ 165.38 million in 2019. The market is estimated to grow at a CAGR of 5.2% from 2020 to 2027. The report provides trends prevailing in the MEA hydraulic filters market along with the drivers and restraints pertaining to the market growth. Availability of superior products for high filtering capacity is the major factor driving the growth of the MEA hydraulic filters market. However, issues associated with steady Design and difficult Installation process is going to reduce the growth of hydraulic filters market in MEA.
The MEA hydraulic filters market is segmented based on the product and end-user. Based on product, the MEA hydraulic filters market is segmented into suction filter, pressure filter, return line filter, off-line filter, breather filter, and others. Return line filter is dominating the market during the forecast period. Based on end-user, the MEA hydraulic filters market is segmented into manufacturing, marine, automotive, chemical and petrochemical, power generation, agriculture, construction, metal and mining, and others. Chemical and Petrochemical segment held a substantial market share during 2017-2027.
Also the ongoing COVID-19 is having terrible effect on MEA economy. In the MEA region, Iran, Saudi Arabia, Qatar, South Africa, and UAE are some of the countries with high number of COVID-19 confirmed cases and deaths. The economic and industrial growth of these countries has been affected negatively in the past few months. The region comprises many growing economies such as UAE, among others, which are prospective markets for hydraulic filters providers, owing to the huge presence of diverse customer base as well as infrastructural development to build smart cities. The majority of the business in these countries have come to a halt and is expected to continue slower than usual pace. The countries are taking significant containment measures to reduce the number of infected patients. COVID-19 pandemic outbreak has severely affected the automotive industry and has resulted in the shutting down of various automotive manufacturing facilities in the MEA. Thus, leading to reduction in demand for hydraulic filters. Additionally, the adverse effect on the tourism and hospitality industry has affected the sales of new cars in the region. Therefore, the COVID-19 pandemic outbreak has suppressed the hydraulic filters market in the MEA region.
Donaldson Company, Inc.; Eaton Corporation Plc.; Filtration Group Industrial; HYDAC Technology Ltd.; MANN+HUMMEL Group; MP Filtri S.p.A.; Pall Corporation; Parker-Hannifin Corporation; YAMASHIN-FILTER CORP. are among the leading companies in the MEA hydraulic filters market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Pall Corporation form a joint venture named Pall Arabia with Tanajib, a leading petroleum services company in GCC. Under the JV Pall Arabia will market and distribute Pall corporation’s products in GCC.
The report segments the MEA Hydraulic Filters Market follows:
MEA Hydraulic Filters Market – By Product
MEA Hydraulic Filters Market – By End-User
MEA Hydraulic Filters Market – By Country