Hydraulic Cylinder Market by Function (Single-Acting Hydraulic Cylinders and Double-Acting Hydraulic Cylinders), Specification (Mill-Type Cylinders, Tie-Rod Cylinders, Welded Cylinders, and Telescopic Cylinders), Bore Size (Less Than 50 MM, 50-150 MM, and More Than 150 MM), End User Industry (Material Handling, Aerospace and Defense, Construction, Agriculture, Automotive, Oil and Gas, and Others): Global Market Size Estimates and Forecast (2022-2030)
The hydraulic cylinder market is expected to cross US$ 15.31 billion in 2022 and is expected to hit US$ 19.62 billion by 2030, recording a CAGR of 4.91% during the forecast period.
Hydraulic cylinder market has been significantly growing with the high adoption of the heavy construction and mining vehicles.
The increasing demand for heavy construction and mining vehicles from the construction, mining, and oil and gas industries is driving market expansion. The increasing deployment of material handling equipment across sectors globally is a primary driver of market expansion. The hydraulic cylinder market has been divided into functions, specifications, bore size, applications, industries, and geographies. The expanding potential of the construction industry, which stimulates higher adoption of automated heavy construction trucks equipped with hydraulic cylinders for diverse tasks, is one of the primary reasons driving the market. The growing use of material handling equipment in industries such as agriculture, construction, and mining has raised global demand for hydraulic cylinders.
Within the report, the hydraulic cylinder market is segmented into function, specification, bore size, end user industry, and geography. By function, the hydraulic cylinder market is further segmented into single-acting hydraulic cylinders and double-acting hydraulic cylinders. On the basis of specification, the hydraulic cylinder market is categorized into mill-type cylinders, tie-rod cylinders, welded cylinders, and telescopic cylinders. On the basis of bore size, the hydraulic cylinder market is categorized into less than 50 MM, 50-150 MM, and more than 150 MM. Based on the end user industry, the hydraulic cylinder market is divided into material handling, aerospace and defense, construction, agriculture, automotive, oil and gas, and others. Geographically, the hydraulic cylinder market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Hydraulic cylinder market is highly popular and frequently used in heavy construction and mining vehicles from the construction, mining, and oil and gas industries
A hydraulic cylinder is a component of the hydraulic system of a machine. Simply said, a hydraulic cylinder is a hydraulic actuator that generates linear motion by converting hydraulic energy to mechanical motion. A hydraulic cylinder can be compared to a muscle; it causes movement with the machine's hydraulic system; hence it is similar to a muscle. A hydraulic cylinder is one of the four essential components of a hydraulic system, whereas a hydraulic system is a technique that uses fluid, most typically hydraulic oil, to transport energy from a motor to an actuator, most commonly a hydraulic cylinder.
Rising adoption in various industries is one of the major factors accelerating hydraulic cylinder market growth
In industrial applications, hydraulic cylinder-based equipment is in high demand. These machines are employed in a variety of industrial processes, including forging, milling, drilling, casting, pressing, and sheering. Hydraulic cylinders are found in a variety of machinery, including steel plant machinery, pulp and paper machinery, presses, and forklifts. Hydraulic cylinder demand has expanded dramatically in the energy and power sector, in applications such as wind turbines, gate actuation, and valve actuation. Increased energy consumption has fueled new power projects, which are likely to drive demand for hydraulic cylinders over the forecast period.
Recent strategic developments in the hydraulic cylinder market
The hydraulic cylinder market has undergone several significant developments, and a few of these have been mentioned below:
- In June 2021 Jiangsu Hengli has completed its 500T Heave Compensator Project, which included one main hydraulic cylinder, three accumulators, and two nitrogen pressure vessels. This allows for minimal weight while ensuring reliable strength, resulting in improved operations and performance even in tough ocean conditions.
- In June 2021SMC Corporation introduced the MGPK Series, an upgraded Small Guide Cylinder product line that is designed to be compact and features a 28% decrease in volume and 41% reduction in weight when compared to earlier models.
The hydraulic cylinder market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships PARKER HANNIFIN CORP, Caterpillar, KYB Corporation, Bosch Rexroth AG, and Eaton are among the prominent players operating in the hydraulic cylinder market.
The target audience for the hydraulic cylinder market report:
- Raw material providers
- Hydraulic providers
- Hydraulic cylinder-related service providers
- Hydraulic cylinder-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Electronics component suppliers
- Hydraulic cylinder and devices distributors and sales firms
- End users of hydraulic cylinder
- Research institutes, organizations, and consulting companies
- Hydraulic Cylinder Market by Function (Single-Acting Hydraulic Cylinders and Double-Acting Hydraulic Cylinders), Specification (Mill-Type Cylinders, Tie-Rod Cylinders, Welded Cylinders, and Telescopic Cylinders), Bore Size (Less Than 50 MM, 50-150 MM, and More Than 150 MM), End-User Industry (Material Handling, Aerospace and Defense, Construction, Agriculture, Automotive, Oil and Gas, and Others)
Scope of the hydraulic cylinder market report:
- Function:
- Single-Acting Hydraulic Cylinders
- Double-Acting Hydraulic Cylinders
- Specification
- Mill-Type Cylinders
- Tie-Rod Cylinders
- Welded Cylinders
- Telescopic Cylinders
- Bore Size
- Less Than 50 MM
- 50-150 MM
- More Than 150 MM
- End User:
- Material Handling
- Aerospace and Defense
- Construction
- Agriculture
- Automotive
- Oil and Gas
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- PARKER HANNIFIN CORP
- Caterpillar
- KYB Corporation
- Bosch Rexroth AG
- Eaton
Companies profiled
- PARKER HANNIFIN CORP
- Caterpillar
- KYB Corporation
- Bosch Rexroth AG
- Eaton