DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/5a2b3f/indian_hydraulic_c) has announced the addition of Frost & Sullivan's new report "Indian Hydraulic Components Market" to their offering.
Research Overview
This Frost & Sullivan research service titled Indian Hydraulic Components Market provides current market size, forecasts, and the key market drivers and restraints.
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Product Segment:
- Cylinders
- Pumps
- Valves
- Accessories
By Application:
- Mobile
- Industrial
Market Overview
Demand from the Construction Industry to Propel the `19.72 Billion Indian Hydraulic Components Market toward `50.43 Billion in 2017.
India's Emergence as a Manufacturing Hub Attracts International Participants to its Hydraulics Components Market
The rapid boom in Indian infrastructure industry, along with the more moderate growth of the manufacturing sector, has stabilized the demand for hydraulic components in India. The Government of India's planned investment of `45 trillion in infrastructure in the 12th five year plan (2012-2017) will be a major boost to construction equipment and thereby, hydraulic components. Mirroring the twofold increase of sales in the construction equipment market by 2015, the market for hydraulic components in construction and bulk material handling will also double during that period. The increased investments and expansions in core sectors such as infrastructure, steel, cement, mining, as well as oil and gas is driving the market for ancillary products such as hydraulic components. Emphasis on the Indian power sector is also expected to give a leg up to the hydraulic component market, says the analyst of this research. With rapid capacity additions and expansions, the market is anticipated to grow by more than 15 percent over the next five years.
However, despite the projected double-digit growth rate, the absence of reliable tube suppliers for hydraulic cylinders, low availability of raw materials, and competition from the unorganized sector restrains further growth of the hydraulic components market. Raw materials account for almost 50 percent of the total cost of the hydraulic component. Consequently, escalating input costs directly affects the margins of component manufacturers. The scarcity of raw materials results in higher costs, compounding the challenge for component manufacturers.
The trend to source from low-cost countries has gained momentum, and India, with its rich experience in manufacturing, large pool of skilled manpower, and ever increasing domestic volumes, has made the most of this environment to become a manufacturing hub for the global market. This new status will result in many multinationals clamoring to set up manufacturing facilities in India.
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