IMARC Group, a leading market research company, has recently releases report titled “Hydraulic Cylinder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global hydraulic cylinder market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the hydraulic cylinder market?
Report Attributes
Details
Market Size in 2022
US$ 13.4 Billion
Market Forecast in 2028
US$ 17.0 Billion
Growth rate (2023 to 2028)
CAGR of 4.3%
Base Year of the Analysis
2022
Forecast Period
2023-2028
What is hydraulic cylinder?
A hydraulic cylinder is a machine that can transform fluid pressure energy into mechanical energy. It comprises a cylinder barrel where a piston is connected to a piston rod that moves back and forth, the clevis, gland, ports, the end cap, and the deal to generate power for a machine. It is available in various forms, such as tie rod, welded rod, telescopic, double-acting, and single-acting cylinders. It is manufactured with reliable metallic blends that prevent wear and tear and consists of specialized emergency release valves that ensure pressure levels never exceed secure limits. It provides clean energy, speed control, and positioning benefits, along with automatic overload protection. It is installed in the brakes of automobiles and landing gears and wing flaps of airplanes. It is also employed in generating force for pulling, pushing, pressing, or lifting something extremely heavy.
It is incorporated into forklifts required for moving and transporting heavy cargo dockside, airports, warehouses, and construction sites. It finds extensive applications in an excavator for mining and carrying debris from a construction site. It assists in operating tractors used in agricultural lands for carrying loads. As a hydraulic cylinder is energy-efficient, cost-effective, and versatile, it is utilized in oil and gas, automobile, aerospace, energy, and construction industries across the globe.
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What are the growth prospects and trends in the hydraulic cylinder industry?
The increasing demand for hydraulic pressure in the automotive industry to manufacture vehicular parts around the world represents one of the key factors driving the market. Besides this, the rising exploration, transportation, and distribution activities in the oil and gas industry to fulfill energy requirements worldwide are propelling the growth of the market. In addition, the growing utilization of material handling equipment across various industries, such as construction, mining, and agriculture, is offering a favorable market outlook. Apart from this, there is a rise in the construction of roads and railways to enhance the transportation system worldwide. This, coupled with the increasing construction of residential apartments for the growing population across the globe, is positively influencing the market. Additionally, key market players are investing in various research and development (R&D) activities to enhance the functionalities of hydraulic cylinders, make them more durable and reduce maintenance costs. Moreover, the increasing demand for hydraulic cylinders in manufacturing trenchers, excavators, backhoes, cutting saws, dozers, motor graders, dumpers, and concrete laying machines is contributing to the growth of the market. Furthermore, the rising need for lifting equipment, such as forklifts, to carry huge quantities of load in warehouses across the globe is strengthening the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Function:
- Single-Acting Hydraulic Cylinders
- Double-Acting Hydraulic Cylinders
Breakup by Type:
- Tie-Rod Cylinders
- Welded Cylinders
- Telescopic Cylinders
- Mill-Type Cylinders
Breakup by Bore Size:
- <50 MM
- 50–150 MM
- >150 MM
Breakup by Application:
- Mobile
- Industrial
Breakup by End-Use Industry:
- Construction
- Aerospace & Defense
- Material Handling
- Agriculture
- Automotive
- Mining
- Oil & Gas
- Marine
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Bosch Rexroth AG
- Caterpillar Inc.(NYSE: CAT)
- Eaton Corporation (NYSE: ETN)
- Enerpac Tool Group (Formerly Actuant Corporation) (NYSE: EPAC)
- Hannon Hydraulics
- HYDAC INTERNATIONAL GmbH
- JARP Industries
- Kappa Engineering
- KYB Corporation (TYO: 7242)
- Parker-Hannifin Corporation (NYSE: PH)
- SMC Corporation (TYO: 6273)
- Texas Hydraulics Inc.
- United Hydraulics
- Wipro Enterprises
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