Hydraulic Cylinder Market 2022 Outlook, Current and Future Industry Landscape Analysis 2032
The global hydraulic cylinder market was worth USD 14.3 billion in 2021 and is estimated to grow to USD 18.3 billion by 2027, with a CAGR of 4.4 per cent between 2022 and 2027.
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.
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.
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 is a primary driver of
the hydraulic cylinder market expansion.
Function, specification, bore size, applicability, sector,
and region have all been used to segment the global hydraulic cylinder market.
Because of their rising acceptance in the construction and material handling
industries, government measures to resuscitate infrastructural projects across
countries have contributed to driving up demand for hydraulic cylinders.
Increased farm mechanization across regions, particularly in
APAC, as well as global increases in mining exploration operations, have all
aided the hydraulic cylinder market’s expansion.
To make a high-quality hydraulic cylinder, metal forging and
accurate engineering are required.
Small and medium-sized businesses (SMEs) face cost
constraints when it comes to entering the hydraulic cylinder market.
Hydraulic cylinders have ongoing maintenance expenditures in addition to the
initial product price. Hydraulic cylinders must be serviced on a regular
basis to avoid oil leaks and other problems. The cylinder rod’s quality and
finish must be checked on a regular basis.
Failure can also be caused by improper rod strength or
diameter. The cylinder tube should be inspected on a regular basis since the
cylinder walls may wear down over time, reducing its thickness. These
characteristics result in higher maintenance expenses, putting a stop to the
use of hydraulic cylinders.
Fluid, the main oil, is used to power hydraulic cylinders.
The contamination of the environment is caused by the leakage of these fluids.
As a result, end-users who want to keep their environment clean and healthy
prefer cleaner alternatives to hydraulic cylinders. Pneumatic cylinders,
which employ the pressure of compressed gas to generate a force in a
reciprocating linear motion, are one such option.
Pneumatic cylinders are employed in agricultural and
material handling operations that necessitate humans being near to the
cylinders. The accessibility of cleaner replacements poses a threat to the hydraulic
cylinder market’s growth.
Key Takeaways
- By
2025, 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, by
2025, 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.
- By
2025, 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.
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.
Hydraulic cylinder producers use a variety of
techniques to gain a competitive advantage, including continuous product
development and regional growth. Furthermore, the expanding use of these
products in energy-intensive industries will provide more advantageous economic
prospects for industry participants and a rise in hydraulic cylinder market
adoption.
Access Full Report: https://www.futuremarketinsights.com/reports/global-hydraulic-cylinder-market
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