Overview and Scope
Hydraulic cylinders refer to actuation devices that use pressurized hydraulic fluid to produce linear motion and force. It is a mechanical actuator that gives a unidirectional force through a unidirectional stroke.
Sizing and Forecast
The hydraulic cylinder market size has grown strongly in recent years. It will grow from $18.4 billion in 2023 to $19.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to industrial growth, automation trends, infrastructure development, mining and exploration activities, manufacturing sector dynamics, energy sector investments.
The hydraulic cylinder market size is expected to see strong growth in the next few years. It will grow to $24.2 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing automation, renewable energy expansion, urbanization and construction boom, focus on sustainability, mining industry resilience. Major trends in the forecast period include advanced material adoption, smart hydraulic systems, environmental sustainability, customization for diverse industries, energy-efficient solutions, integration of robotics and automation.
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Segmentation & Regional Insights
The hydraulic cylinder market covered in this report is segmented –
1) By Function: Single Acting Hydraulic Cylinder, Double Acting Hydraulic Cylinder
2) By Specification: Telescopic Cylinder, Tie Rod Cylinder, Mill Type Cylinder, Welded Cylinder
3) By Bore Size: Less Than 50 MM, 50 to 150 MM, Greater Than 150 MM
4) By Application: Industrial Equipment, Mobile Equipment
5) By End-User: Construction, Aerospace And Defense, Material Handling, Agriculture, Automotive, Mining, Oil And Gas, Marine, Other End-Users
Asia-Pacific was the largest region in the hydraulic cylinder market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic cylinder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The significant increase in demand from the construction industry is expected to drive the growth of the hydraulic cylinder market. Since construction projects are becoming more complex with higher demand for infrastructure, the construction industry has been the most affected industry by the development of and implementation of hydraulic technologies. For instance, according to the Ministry of Statistics and Programme Implementation, a ministry of the Government of India concerned with coverage and quality aspects of statistics released, the construction industry is expected to rise in double digits in FY22, rebounding from an 8.6% decline last year, thanks to the base effect and the economy’s forecast 9.2% expansion. The significant increase in demand from the construction industry is likely to drive the growth of the hydraulic cylinder market.
Key Industry Players
Major companies operating in the hydraulic cylinder market report are Caterpillar Inc., Thermo Fisher Scientific Inc., Linde PLC, Eaton Corporation, Parker-Hannifin Corporation, Liebherr Group, Kawasaki Heavy Industries Ltd., Wipro Infrastructure Engineering (WIN), Bosch Rexroth, SMC Corporation, HYDAC International GmbH, The Timken Company, Trelleborg Group, The Jiangsu Hengli Hydraulic Co. Ltd., BDI Express, Taiyo Ltd., Standex International Corporation, Enerpac Tool Group, Sun Hydraulics LLC, Texas Hydraulics Inc., Prince Manufacturing Corporation, High Purity Laboratory Chemicals Pvt. Ltd., Ligon Industries LLC, Zenith Hydromatic, LEO engineers, Spareage Hydro, Kangaroo Hydraulics Private Limited, Swapnapoorti Hydraulics, KYB Americas Corporation, Tianjin Henghua Pipeline Technology Co. Ltd.
The hydraulic cylinder market report table of contents includes:
1. Executive Summary
2. Hydraulic Cylinder Market Characteristics
3. Hydraulic Cylinder Market Trends And Strategies
4. Hydraulic Cylinder Market – Macro Economic Scenario
5. Global Hydraulic Cylinder Market Size and Growth
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31. Hydraulic Cylinder Market Other Major And Innovative Companies
32. Global Hydraulic Cylinder Market Competitive Benchmarking
33. Global Hydraulic Cylinder Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hydraulic Cylinder Market
35. Hydraulic Cylinder Market Future Outlook and Potential Analysis
36.Appendix
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