Between 2022 and 2032, the global hydraulic cylinder market is expected to grow at a moderate CAGR of 4.2 %, reaching nearly US$ 22.3 billion by 2032, up from US$ 14.2 billion in 2021. Increased spending on infrastructure development and natural resource mining is expected to be the primary factor driving hydraulic cylinder market sales.
Growing technical improvements in the hydraulic industry are driving the global market. Integrating hydraulic cylinders with technology for improved functionality, accuracy, and command in diverse applications is projected to be a key contributor to the hydraulic cylinder market growth.
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For a wide range of construction equipment, modern hydraulic cylinder technologies include multi-stage and sophisticated linear telescopic cylinders and rotary actuators. In the anticipated timeframe, the worldwide construction sector is expected to rise by 85 per cent to USD 8 trillion, resulting in increased global hydraulic cylinder market demand.
Key Takeaways
- The mobile application of hydraulic cylinders is expected to grow by more than 4%. Product demand is expected to be driven by increased expenditure in the chemical industry to meet the demand for linear motion.
- As per the global hydraulic cylinder market study, the tie rod hydraulic cylinder industry is projected to have grown by more than 4%. Increasing the use of agricultural equipment for farming in order to increase production capacity in order to keep up with the rising population rate may boost industrial dynamics.
- The single-acting hydraulic cylinder industry is anticipated to have grown by more than 4%. The installation of these items will be driven by the growing need for material handling equipment in the food and beverage industry to produce linear motion for conveyor belts and assembly lines.
- China and the United States are two markets with strong CAGRs. By 2031, North America and East Asia are expected to have a combined market share of roughly 35%.
- Over the projection period, demand for hydraulic cylinders in India is expected to grow at a nearly 7% CAGR. The market is reinforced by ongoing and planned industrial and infrastructure developments around the country, which are mostly financed by the government.
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Key Segments
By Function:
- Single-Acting
- Double-Acting
By Specification:
- Welded
- Tie Rod
- Telescopic
- Mill Type
By Application:
- Industrial
- Mobile
By Bore Size:
- < 50 MM
- 50 MM to 150 MM
- > 150 MM
By Industry:
- Construction
- Aerospace
- Material Handling
- Automotive
- Mining
- Marine
- Oil & Gas
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Competitive Landscape
Aggressive Inc., Eaton Corporation PLC, Texas Inc, Bosch Rexroth AG, Enerpac Corp., Best Metal Products, Prince Manufacturing Corporation, Caterpillar Inc., Hyco International, Inc, Hydrosila, Pacoma GmbH, Parker-Hannifin Corporation, Weber-Hydraulik Group, Norrhydro Oy, Wipro Infrastructure Engineering, and others are among the leading players in the hydraulic cylinder market.
The increased supply for heavy construction and mining equipment from the construction, mining, and oil gas industries is largely responsible for the market’s rise. The increasing usage of material handling equipment across sectors throughout the world primary driver of the hydraulic cylinder market expansion.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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