The global hydraulic cylinder market size was USD 14.30 Billion in 2021 and is expected to register a revenue CAGR of 4% during the forecast period, according to latest analysis by Emergen Research. Increasing application of hydraulic cylinders in heavy equipment employed during construction activities and increasing urbanization in emerging , such as India, China, and others, are major factors driving market revenue growth. In addition, the shipping industry is a major consumer of hydraulic cylinders due to its advantages associated with lifting heavy loads, which is another factor driving market revenue growth. Ongoing construction activities in various countries are gradually becoming more complex due to technicalities associated with it. Although, there had been a significant decline in construction activities during COVID-19 pandemic, but the market has regained its momentum as lockdown and trade restrictions have been lifted. Moreover, increasing support from governments in various countries has prompted this industry to rapidly adopt advanced construction equipment and develop sustainable infrastructure projects.
The latest and updated research report on the Global Hydraulic Cylinder Market covers a comprehensive overview of the Hydraulic Cylinder market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the Hydraulic Cylinder market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.
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Some Key Highlights From the Report
- The double-acting hydraulic cylinders segment accounted for a significant revenue share in 2021. Increasing demand for hydraulic cylinders that provide precise control and faster retraction is a major factor driving revenue growth of this segment. Double-acting hydraulic cylinders pump hydraulic fluid on both sides of the plunger. In addition, extra port allows more control over plunger and ensures it returns to its original position during retraction. Significant investments in advancement of existing farming technologies are among other factors driving revenue growth of this segment. For instance, on 3 June 2022, Power Farming, which is a leading manufacturer of tractors and heavy agricultural machinery headquartered in Auckland, New Zealand announced an addition to its Dutz Fahr tractor range. It is now designed and developed to suit a wide range of applications. This tractor incorporate front axle suspension with double-acting hydraulic cylinders for effective self-leveling among others.
- The welded cylinders segment accounted for a significant revenue share in 2021. Increasing demand for high-performance and stable hydraulic cylinders that support heavy loads is a major factor driving revenue growth of this segment. Welded cylinders are also preferred by industry professionals as they offer design freedom and unlike tie-rod cylinders and withstand mechanical forces and offer various features. Market companies are significantly investing in research & development activities and offering their prospective clients customization options. This has further increased acceptance of welded cylinders among end-users in various regions. In addition, significant advancements in welded cylinders have increased their life expectancy and provide benefits such as automatic overload protection, speed control, and others.
- The oil & gas segment accounted for a moderate revenue share in 2021. Rapid advancements in cylinder technology is a major factor driving market revenue growth in this segment. Oil & gas industries require hydraulic cylinders to explore and exploit resources located in deep water. In addition, market companies are focusing on developing large hydraulic cylinders that adhere to safety and latest industry standards. Advancements in hydraulic power unit also play a key role in driving market revenue growth in these industries. For instance, market companies are focusing on reducing the size of hydraulic cylinder by combining power unit with low displacement characteristic of helical actuators. Moreover, surface technologies that offer improved performance are in high demand in oil & gas industries.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
Enerpac Tool Group, Bosch Rexroth AG, Caterpillar, Eaton, KYB Corporation, Parker Hannifin Corp, SMC Corporation, Hengli hydraulic, Hydac International GmbH, Standex International Corporation, Texas Hydraulics, and Weber-Hydraulic GmbH.
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Furthermore, the report divides the Hydraulic Cylinder market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global hydraulic cylinder market based on function, specification, industry, and region:
-
Function Outlook (Revenue, USD Billion; 2019-2030)
- Double-Acting Hydraulic Cylinders
- Single-Acting Hydraulic Cylinders
-
Specification Outlook (Revenue, USD Billion; 2019-2030)
- Welded Cylinders
- Tie Rod Cylinders
- Telescopic Cylinders
- Mill Type Hydraulic Cylinders
-
Industry Outlook (Revenue, USD Billion; 2019-2030)
- Construction
- Automotive
- Oil & Gas
- Others
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2022-2030. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Overview of the Hydraulic Cylinder Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Hydraulic Cylinder industry
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