Why this is important to Wisconsin businesses: These components are needed for machinery serving the energy and logistics industries, among others.
The Canadian hydraulic components market is projected to grow, with increased demand for energy-efficient hydraulic equipment. The demand is coming from various industry sectors, including micro- and electrohydraulics—and in particular, hydraulic drilling equipment, given the oil and gas exploration industry’s shift from traditional reserves to more expensive and complex oil and gas resources.
The mechanization of agriculture and a demand for mobile hydraulics are trends that are expected to continue, because of factors including a need for improvement to production yields, greater labor efficiency, and environmental improvements including energy efficiency. Water-based hydraulic systems are increasing in popularity.
Within the manufacturing supply chain, hydraulics are experiencing growth, with increased demand for compact hydraulics for assembly automation, smoother lifting and lowering of loads, and pre-programmed machines.
Transportation and logistics is another industry sector experiencing growth, as expansion of warehouse facilities creates strong demand for material handling equipment that requires hydraulic components such as scissor lifts, dock levers, stackers and forklifts.
Construction is robust in in areas such as Toronto, driving the need for off-road equipment, hydraulic excavators, drilling and other heavy equipment needs.