Mobile Hydraulic Valves Market Size

Mobile Hydraulic Valves Market Analysis

The mobile hydraulic valves market is expected to record a CAGR of about 5% during the forecast period. The increasing industrialization and growing investment in the construction sector to replace the aging infrastructure across various countries are among the significant factors driving the demand for mobile hydraulic valves.

• In general, hydraulic valves are primarily used to direct the flow of a liquid medium, usually oil, properly through the hydraulic system. These valves are designed according to different end-user requirements and international standards. Mobile hydraulic valves are mainly used with mobile hydraulic machines such as cranes, forklifts, excavators, and air seeders and are used in various environments.
• In the last few decades, the industrial sector witnessed significant growth, and the increasing population and rapid urbanization played a crucial role in the sector's growth. Considering the direct correlation of the industrial sector with the economic development of any country, governments across nations are further developing the local industrial sector. As many mobile types of machinery are currently being used in the industrial sector, its growth is expected to drive the demand for mobile hydraulic valves.
• According to the United Nations Industrial Development Organization (UNIDO), in Q2 2022, global manufacturing production grew at a stable pace, with a Y-o-Y growth rate of 3.1%. While the industrial economies registered a growth rate of 2.6%, the manufacturing output of other industrializing economies registered a Y-o-Y output growth of 10.4%.
• The use of mobile hydraulic machinery, such as forklifts and cranes, is also increasing in the agricultural sector, especially in developed countries. Mobile hydraulic directional control valves are used in the agricultural industry for smooth operation, rapid response for precise fluid control, and low-pressure drop in machinery using hydraulic systems. Hence, the sector is expected to offer ample growth opportunities to the vendors operating in the mobile hydraulic valves market.
• However, performance limitations of these valves in operating conditions exposed to temperature fluctuations are among the significant factors challenging the market's growth. As oil is prone to ambient temperature, fast heat loss or gain can cause changes in oil viscosity, affecting the operation of hydraulic components, including valves. These valves should continuously be operated within the specified pressure limits to avoid component failure or leakage.
• The COVID-19 pandemic had a notable impact on the growth of the market as the widespread lockdowns imposed to curb the spread of the virus significantly impacted the productivity and day-to-day operations of the industrial sector. Supply chain disruptions were also among the significant factors affecting the industrial sector's growth. However, with the easing of restrictions across the world, all the major end-user industries of hydraulic valves are expected to witness an upward trend, thus impacting the growth of market positively.