Hydraulic Accumulators Move Forward

Hydraulic accumulators are used in excavators, loaders, earth movers, graders, dozers, dumpers, cranes, forklifts, and bulldozers. Much of the equipment is heavy industry application-based and their use involves harsh terrain in different weather conditions and at different magnitudes. Now, a new report is predicting the global hydraulic accumulators market is expected to grow at a CAGR (compound annual growth rate) of close to five percent by 2021.

The growth in the construction sector will propel the demand for hydraulic accumulators. The main growth is witnessed in China, India, and the United States. The material handling industry is also witnessing steady growth.

The market is also experiencing a bit of fluctuation. For instance, the oil and gas industry has been exhibiting a volatile business environment, with changes in the price of crude oil. To counter the fallout of the declining crude oil prices, the exploration and production sector resorted to strategies involving the cutting down of CAPEX and reducing OPEX and headcount. The slowdown in the oil and gas industry is expected to have a negative impact on the global hydraulic accumulators market.

However, since hydraulic accumulators are used in a lot of construction equipment, as the industry activity increases, the accumulators market will continue to grow as well.

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