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Hydraulic Cylinder Market Research Report – Segmented By Function (Double-Acting and Single-Acting), By Specification (Welded, Tie-Road, Telescopic and Mill-Type), By Application (Mobile and Industrial) and Region - Industry Forecast of 2023 to 2028

Published: March, 2023
ID: 11087
Pages: 175
Formats: report pdf report excel report power bi report ppt

Hydraulic Cylinder Market Size (2023 - 2028):

The Global Hydraulic Cylinder Market is predicted to grow from USD 16 billion in 2022 to reach a valuation of USD 20.99 billion by 2028, increasing with a CAGR of 4.80% over the outlook period from 2023-2028.

Market Overview:

Hydraulic Cylinders, also known as hydraulic pumps, are sub-assemblies employed in hydraulic power transfer systems, Hydraulic Cylinders help transfer energy in applications ranging from construction equipment to aviation.

These cylinders are a set of several components, namely the barrel; cylinder heads and cylinder heads; piston, which can be double or single-acting; piston rod; sealed; and rings. These cylinders are connected to the hydraulic system to form a continuous hydraulic circuit. Hydraulic Cylinders are available in various configurations and functions; each is suitable for a particular application. They can also be employed to selectively resist linear motion under heavy loads. Therefore, these cylinders can be employed in various applications.

Market expansion is driven by a significant call from the construction industry and the escalating use of mining equipment. Additionally, the escalating call for material handling equipment is also fueling the call for Hydraulic Cylinders.

Market Trends:

The uninterrupted call in industries where hydraulic systems play a vital role is the main factor driving the Hydraulic Cylinder market. The irreplaceability of hydraulic systems in construction, aviation, infrastructure, and manufacturing equipment is predicted to increase the market for Hydraulic Cylinders. Furthermore, rapid industrialization and infrastructure development in developing countries are predicted to boost the market for Hydraulic Cylinders. The expansion of civil and military aviation in developing countries such as India, China, Malaysia, Indonesia, and Brazil is predicted to drive the call for Hydraulic Cylinders in aerospace applications.

Market Drivers:

The ambitious and gigantic infrastructure development projects in the construction industry are becoming complex. Although the COVID-19 pandemic outbreak has severely affected the construction industry, the sector is predicted to experience significant expansion after the COVID-19 pandemic, due to higher infrastructure spending in the APAC region and the resumption of investment in European infrastructure. New infrastructure development plans and projects are likely to stimulate the call for various construction equipment (equipped with hydraulic jacks), such as backhoes, excavators, trenchers, planers, and tippers. This round is predicted to boost the Hydraulic Cylinder market. The growing call for advanced agricultural machinery coupled with the growing size of the population will drive the call for Hydraulic Cylinders. Furthermore, the expansion of infrastructure development by developing economies will further boost the business landscape.

Market Restraints:

Hydraulic Cylinders work with hydraulic fluids, mainly oil. Various factors, such as improper fittings and connections, and environmental parameters such as vibrations, shocks, and temperature variations, cause Hydraulic Cylinders to leak oil. In industries such as mining and construction, which require extensive earthworks and the deployment of large fixed and mobile installations in environmentally sensitive locations, the leakage problem largely persists. This leak is not only expensive but also dangerous for the environment and personnel. Also, in the aerospace industry, unpredicted leakage leads to delays resulting in prohibitive expenses, especially when these events occur on sites.

Market Opportunities:

In the shipping industry, shipyards often contain many shipping containers of varying sizes and weights, stacked hundreds of feet high. To ship these heavy containers, lifting equipment is employed. Shipping is the most important mode of transport in the world, facilitating international trade. Most items are transported by ships around the world, from electronics, automobiles, textiles, and raw metals to oil and gas. Enabling institutional and technological factors, such as industrial IoT adoption and government support, are driving the expansion of the shipping industry. The growing maritime industry is fueling the need for lifting equipment in ports. Therefore, the escalated need for lifting devices is likely to increase the call for hydraulic jacks employed in this equipment.

Market Challenges:

Hydraulic Cylinders work with a fluid, mainly oil. The leakage of these fluids causes pollution of the environment. Therefore, end-users, who need to maintain a clean and healthy environment, are looking for cleaner alternatives to Hydraulic Cylinders. One of these options is the use of pneumatic cylinders. Since pneumatic cylinders use gases, even if there is a leak, they do not pollute the environment. Therefore, the availability of cleaner alternatives, such as pneumatic cylinders, poses a challenge to the expansion of the Hydraulic Cylinder market.

Market Recent Developments:

  • Parker launches a new compact Taiyo Hydraulic Cylinder. Along with the new rod seal, a secondary polyurethane rod cleaning seal is part of the standard seal assembly.
  • The hydro line launches predictive maintenance technology for Hydraulic Cylinders. The hydro line’s LEO uses a proprietary algorithm to analyze life cycle data directly from the operating environment of a Hydraulic Cylinder, obtained using strategically placed integrated sensors.

HYDRAULIC CYLINDER MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 – 2028

Base Year

2022

Forecast Period

2023 - 2028

CAGR

4.80%

Segments Covered

By Function, Specification, Application, and Region.

 

Various Analyses Covered

Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

Enerpac Tool Group (US), Bosch Rexroth (Germany), Eaton (Ireland), KYB Corporation (Japan), Parker-Hannifin Corporation (US), Caterpillar (US), SMC Corporation (Japan), Jiangsu Hengli Hydraulic (China), Wipro Enterprises (India), HYDAC (Germany) and Others.


 

Market Segmentation:

Hydraulic Cylinder Market - By Function:

  • Double-Acting
  • Single-Acting

Double-acting Hydraulic Cylinders are employed in agriculture, automotive, and various other industries due to their retraction property.

Hydraulic Cylinder Market - By Specification:

  • Welded
  • Tie-Road
  • Telescopic
  • Mill-Type

Hydraulic Cylinder Market - By Application:

  • Mobile
  • Industrial

Market Regional Analysis:

The Hydraulic Cylinder Report includes the segmentation of Regions:

  • North America 
  • Europe 
  • Asia Pacific
  • Latin America 
  • Middle East & Africa 

The Hydraulic Cylinder industry in APAC is predicted to see expansion at the highest CAGR during the foreseen period. Japan is predicted to continue to account for the largest Hydraulic Cylinder market share in the APAC region during the foreseen period, followed by Australia and China. Market expansion in the APAC region can be attributed to rapid industrialization and infrastructure development. Hydraulic Cylinders are the main components of construction equipment and agricultural equipment. Since both types of equipment are in a high call in the APAC region, the Hydraulic Cylinder market is predicted to grow at a substantial rate over the next few years.

North America and Europe are the top regions in the worldwide Hydraulic Cylinder market, led by the presence of key construction equipment manufacturers such as Caterpillar and JCB. Asia-Pacific is also a prominent region in the Hydraulic Cylinder market due to escalating industrialization and growing infrastructure. The size of the Canadian market is predicted to exceed 4% by 2025. Escalated investment in the construction industry will drive the call for technology during the foreseen period. In addition, escalating government efforts to strengthen the defense and aerospace industry will enhance product penetration in the country. Escalated investments in the food and beverage sector, as well as escalated consumer spending on packaged food products, will boost the expansion of the Hydraulic Cylinder industry in Germany. Additionally, the growing number of large-scale industries, including aerospace, defense and military, petrochemicals, and construction, has required the deployment of material handling equipment, which in turn will further drive business momentum.

Impact of COVID-19 on the Hydraulic Cylinder Market:

COVID-19 emerged as a worldwide pandemic that has spread to more than 200 countries around the world and has affected various industries around the world. As the world continues to fight this crisis, many industries continue to experience a steady decline. A sharp drop in a call from end-use industries such as aerospace, automotive, construction, mining, and oil and gas is likely to affect the market. The call for Hydraulic Cylinders from these industries is declining as the COVID-19 pandemic slows manufacturing production and consumer confidence. The excess capacity caused by the drop in calls from these industries is predicted to reduce average profit margins in the fiscal year 2020. Two majorities of areas affected by the pandemic in sectors such as aerospace and defense, automotive, construction, mining, and oil and gas are Deployment of personnel on-site for operations that cannot be carried out remotely and call for industrial equipment (including equipment using hydraulic jacks) due to the worldwide economic downturn. All of these factors are predicted to have a negative impact on the expansion of the worldwide Hydraulic Cylinder market.

Market Key Players:

The major players operating in the global Hydraulic Cylinder market are 

  1. Enerpac Tool Group (US)
  2. Bosch Rexroth (Germany)
  3. Eaton (Ireland)
  4. KYB Corporation (Japan)
  5. Parker-Hannifin Corporation (US)
  6. Caterpillar (US)
  7. SMC Corporation (Japan)
  8. Jiangsu Hengli Hydraulic (China)
  9. Wipro Enterprises (India)
  10. HYDAC (Germany)

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FAQ's

What is the Hydraulic Cylinder Market growth rate during the projection period?

The Global Hydraulic Cylinder Market is expected to grow with a CAGR of 4.80% between 2023-2028.

What can be the total Hydraulic Cylinder Market value?

The Global Hydraulic Cylinder Market size is expected to reach a revised size of USD 20.99 billion by 2028.

Name any three Hydraulic Cylinder Market key players?

Caterpillar (US), SMC Corporation (Japan), and Jiangsu Hengli Hydraulic (China) are the three Hydraulic Cylinder Market key players.

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