Aftermarket Mobile Industrial Machine Hydraulic Components

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Aftermarket Mobile Industrial Machine Hydraulic Components

The triangulated aftermarket revenue for the global mobile industrial machine hydraulic components market based on 2018 data is $1.99 billion.

AFTERMARKET MOBILE INDUSTRIAL MACHINE HYDRAULIC COMPONENTS

  • The global industrial machine hydraulic components market was worth $10.1 billion in 2018.
  • The aftermarket revenue for the global mobile industrial machine hydraulic components market based on 2018 data is $1.99 billion. (estimated)
  • In 2018, the mobile segment accounted for nearly 65% of the global industrial machine hydraulic components market.
  • By 2022, the segment is estimated to contribute almost a 66% share by 2022, which is based on a CAGR of 1%.
  • Overall, the global hydraulic equipment market is estimated to grow at a CAGR of 3% until 2022.
  • According to McKinsey, the aftermarket revenue percentage of the global industrial machines market is based on the share of lifetime of industrial machines under OEM and differs based on the three main sales channels. For direct sales, it accounts for 30% of the total revenue, for franchises it is 26%, and for independent distributors or mixed sales channels it is 35%.

RESEARCH METHODOLOGY

According to the proposed research strategy outlined here, in order to calculate the revenue percentage of the total aftermarket mobile industrial machine hydraulic components, we first identified the average portion/percent for the aftermarket segment of a proxy industry like general industrial machines, and then applied that figure to the total market size for mobile industrial machine hydraulic components.

In market reports, the total size of the global mobile industrial machine hydraulic components market wasn't directly stated. Instead, it is outlined that the mobile segment accounted for nearly 65% of the global industrial machine hydraulic components market in 2018. The global industrial machine hydraulic components market was worth $10.1 billion in 2018. Therefore, we calculated the mobile share of the global industrial machine hydraulic components market as follows:
  • 0.65 x $10.1 billion =$6.57 billion
  • The global mobile industrial machine hydraulic components market was worth $6.57 billion in 2018.
According to McKinsey, the average revenue for the global industrial machines market when it comes to its aftermarket segment differs depending on the sales channel. For direct sales, it accounts for 30% of the total revenue, for franchises it is 26%, and for independent distributors or mixed sales channels it is 35%. We calculated the average across all sales channels as follows:
  • (0.30 + 0.26 + 0.35) / 3 = 0.303
  • The average revenue for the aftermarket share of the global industrial machines market is 30.3%.
The last step is to apply this average aftermarket revenue for the global industrial machines market to the size of the global mobile industrial machine hydraulic components market:
  • 0.303 x $6.57 billion = $1.99 billion
  • The triangulated aftermarket revenue for the global mobile industrial machine hydraulic components market based on 2018 data is $1.99 billion.
Sources
Sources