The U.S. Market for Hydraulics
Is Getting Stronger Every Year
Contrary to the any reports you may have read that Hydraulics is a dying industry sector, it is our good fortune to tell you that the U.S. remains the largest regional market for hydraulic equipment in the world. Industry experts acknowledge the slow down precipitated by the recession of 2009 and 2010, but the world market for hydraulic equipment is expected to recover and gain steady momentum over the next few years to reach $40 billion by 2015. At The Hope Group, we expect to get our share of the hydraulic component and systems dollar.
Mobile Hydraulics Growing
In particular, the growth potential for The Hope Group lies within the Mobile Hydraulic market, even more than the traditional fluid power hydraulic arena. The optimism about Mobile Hydraulics comes from the growth in technology and the need for replacement and enhancement of the installed base. In addition, as the growing concerns about the environment drives changes in legislation, the demand for environmentally safe fluids and biodegradable fluids increases changes in the mobile hydraulic field.
For example, mobile machinery used in forestry services, operate in environmentally sensitive areas. If a hose breaks and fluid spews out of the system, there aren't any concrete floors in forests to prevent the leaked fluid from being absorbed into the ground. That drives a need for biodegradable fluids. This is the sort of thing that drives change, which translates into opportunities for growth in the mobile hydraulics market. New technologies, even in hydraulics, emerge every day.
Nothing Better Than Hydraulics
Changing things for no reason is no reason for change. If a hydraulic solution is precise, cost-effective, and reliable, where is the need to switch to pneumatics or electrical? The truth is there is no reason. Admittedly, there are applications where electro-pneumatic or electrical brings a solution to the design that is better, but the economics often side with the hydraulic solution. Hydraulic solutions are used widely in military applications, oil & mining, transportation, forestry, marine and agriculture. These are industries that continue to be vibrant in our region.
Broken down by product, the motors and pumps lead the segment; followed closely by valves. Other important hydraulic components include accumulators, cylinders, filters, and power packs. The Parker line-up, which is represented in New England by The Hope Group, provides the depth and breadth of products required to meet the OEM and MRO requirements of today's manufacturers.
Hydrostatic Transmissions
Another product from Parker that continues to grow in use is the hydrostatic transmission. From the ubiquitous bulldozer, to the unique Cog Railway locomotive, the hydrostatic transmission is a highly efficient and effective method of power transmission for off-highway vehicle propulsion. Other common applications include turf mowers, mini-loaders, and drill rigs. The hydrostatic transmissions from Parker are variable displacement piston pumps rated to 5,000 PSI continuous pressure and continuous duty. They feature an internal servo/replenish and the ability to utilize system over pressure to directly control the stroking chambers.
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