Hydraulic Cylinders Market

The global hydraulic cylinders market size is expected to reach $21,243.2 million by 2030, from $14,070.0 million in 2020, growing at a CAGR of 4.2% from 2021 to 2030.

The COVID-19 outbreak has affected the growth of the hydraulic cylinders industry owing to the lockdown measures in the countries and delay in manufacturing and production of hydraulic cylinders equipment used in construction, and mining applications.

Hydraulic cylinder is a mechanical equipment, which is used to impart a unidirectional force through a unidirectional stroke. It is used for converting mechanical force into a linear motion. Hydraulic cylinder has a tube with a rod sticking out on one side. The piston separates the internal rod side from the internal cap side of the cylinder to avoid friction. Fluid is forced into either side of the cylinder to extend or retract the piston rod for smooth functioning.

Increase in investment in the infrastructure-related activities and construction activities, which in turn, rise the demand for hydraulic cylinders for material handling equipment, drives the growth of the market. For instance, according to a combined study by Oxford Economics and Global Construction Perspective (GCP), the construction industry is expected to reach $15.5 trillion by 2030. Major players, such as Eaton Plc, Romheld GmbH, and Mapro d.o.o., are engaged in developing reliable and highly efficient double-acting hydraulic cylinders in the market. For instance, Eaton Plc offers a new hydro-electric cylinder with a value integration system. It is a high performance industrial cylinder, which provides unique and cost effective solutions, to the problem of classical systems. An increase in demand for cranes and rise in concerns to reduce labor costs in various developing countries, such as India, China, Brazil, and others, are factors that drive of the global hydraulic cylinders market growth. Greater than 151mm hydraulic cylinders are largely used in automated equipment, haulers, robotic trucks, and excavators, owing to high demand during the mining operations. A rise in investment in infrastructure related activities and mine sites on constructions in countries, such as India and China, fuels the growth of the market.

Major companies, such as Caterpillar Inc, Parker Hannifin Corporation, and others are engaged in providing technological advanced hydraulic cylinders to the market. For Instance, in March 2018, Parker Hannifin Corporation launched a new version of its single-acting telescopic (SAT) hydraulic cylinders for the dump truck market. The new SAT cylinder features 25% increase in operating pressure to 2,500 psi (127 bar) for improved strength and performance. JARP Industries, Inc. acquired Ordered Motion Systems, Inc. to focus on repair and manufacturing cylinders and for expansion of JARP’s presence in North America.

The COVID-19 pandemic forced many companies in the global hydraulic cylinders market to halt business operations for a short term to comply with new government regulations to curb the spread of the disease. This halt in operations directly impacts revenue flow of the market. In addition, there is a halt in manufacturing of industrial products, owing to lack of raw materials and manpower in the lockdown period. Further, no new consignments are received by companies that operate in this sector. Hence, halt in industrial activities and lockdowns for several months has affected the global hydraulic cylinders market share and the market is anticipated to witness a slow recovery during the forecast period.

Rise in demand for material handling equipment to address the need of growing automotive, construction, engineering, manufacturing, and mining industries is expected to drive the hydraulic cylinders market opportunities globally.

However, fluctuation in raw material prices, and rise in concerns about leak, are anticipated to hamper the growth of the global hydraulic cylinders market. Conversely, increase in automation and industrialization is anticipated to provide lucrative opportunities for the growth of the market.

The hydraulic cylinders market is segmented into function, design, bore size, and region. By function, the market is divided into single-acting hydraulic cylinders and double acting hydraulic cylinders. By design, it is classified into tie-rod cylinders and welded cylinders. By bore size, the market is categorized into less than 50mm, 51mm to 100mm, 101mm to 150mm, and greater than 151mm.

By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region is expected to hold the highest market share during the forecast period.

The key players profiled in this report include, Actuant Corporation, Caterpillar Inc., Eaton Corporation Plc, JARP Industries Inc., Hengli Hydraulic, Kawasaki Heavy Industries Limited, Parker Hannifin Corporation, Robert Bosch GmbH (Bosch Rexroth AG), Texas Hydraulics Inc., and Wipro Limited.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging global hydraulic cylinders market trends and dynamics. 
• In-depth market analysis is conducted by global hydraulic cylinders market estimations for the key market segments between 2020 and 2030.
• Extensive analysis of the global hydraulic cylinders industry is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
• The global hydraulic cylinders market forecast analysis from 2021 to 2030 is included in the report.
• The key market players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive of the global hydraulic cylinders market outlook.

 Hydraulic Cylinders Market Report Highlights