According to the latest report by IMARC Group, titled "Hydraulic Cylinder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global hydraulic cylinder market size reached US$ 13.8 Billion in 2019. A hydraulic cylinder refers to a piece of actuation equipment that is utilized in hydraulic power transfer systems to provide a unidirectional force. It comprises an assembly of components, including cylindrical barrels, pistons, piston rods, cylinder caps and heads, seals and rings, to form a continuous hydraulic circuit. Widely used to convert hydrostatic energy into mechanical energy, they are powered by pressurized hydraulic fluid, such as oil, to produce linear motion. Since these devices are easy to use, extremely durable, and offer high power-to-size and power-to-weight ratios, they are extensively utilized across numerous sectors, including marine, construction, automotive, manufacturing, and aerospace.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Hydraulic Cylinder Market Trends:
The global market is primarily driven by the significant growth across numerous end use sectors. Hydraulic cylinders are widely used as an essential component in heavy machinery, including backhoes, trenchers, concrete cutting saws, asphalt laying machines and motor graders that are employed in the construction sector. In line with this, rapid industrialization and continual infrastructural developments across the globe, especially in the developing economies, are providing a boost to the sales of these cylinders. These devices are also extensively utilized in the aerospace sector for the smooth functioning of brakes and landing gear, and in the defense sector as a crucial component in numerous military equipment, such as telehandlers, bomb loaders, thrust reversers, automated pallets and personnel door systems. Along with this, the increasing farm mechanization in the agricultural sector is expected to provide a thrust to the market growth. The rising need for automation has led to the replacement of manually driven equipment with hydraulic devices that simplify advanced tasks, minimize the dependency on manual labor and improve crop production. The market is further driven by the favorable initiatives undertaken by governments of several nations to promote infrastructural development as well as automation across numerous industries. On account of the aforementioned factors, the market is projected to reach a value of US$ 18.1 Billion by 2025, registering a CAGR of 4.6% during 2020-2025.
- On the basis of the function, the market has been bifurcated into single-acting and double-acting hydraulic cylinders.
- Based on the type, the market has been divided into tie-rod, welded, telescopic and mill-type cylinders.
- On the basis of the bore size, the market has been classified into <50 MM, 50–150 MM and >150 MM.
- Based on the application, the market has been categorized into mobile and industrial.
- On the basis of the end-use industry, the market has been segmented into construction, aerospace and defense, material handling, agriculture, automotive, mining, oil and gas, marine and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operating in the market. Some of these players include Bosch Rexroth AG, Caterpillar Inc., Eaton Corporation, Enerpac Tool Group (Formerly Actuant Corporation), HANNON HYDRUALICS, LLC., HYDAC Verwaltung GmbH, JARP Industries, Kappa Engineering, KYB Corporation, Parker-Hannifin Corporation, SMC Corporation, Texas Hydraulics, Inc., United Hydraulic Control, and Wipro Enterprises.
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