Blueweave
Hydraulic Cylinder Market Report

Global Hydraulic Cylinder Market, By Function (Single Acting Hydraulic Cylinders, Double Acting Hydraulic Cylinders), By Product Type (Welded Cylinder, Tie Rod Cylinder, Others), By Application (Industrial Equipment, Mobile Equipment), By End-User (Agriculture, Forestry, Marine, Aerospace and Defence, Construction, Others (Mining, Oil, and Gas)), By Region(North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: May 2021
  • Report ID: BWC20355
  • Available Format: PDF
  • Page: 151

Report Overview

Global Hydraulic Cylinder Market- Industry Trends & Forecast Report 2027

The global hydraulic cylinder market was worth USD 12.6 billion in the year 2020. It is further estimated to grow at the CAGR of 4.3% in the forecast period of 2021-2027 to reach USD 22.7 billion. Technological advances in hydraulics cylinders are the major factor behind the growth of this market. The combination of these cylinders with electronics broadens their capabilities and applications, providing precision and regulated efficiency, which in turn propels the growth of the global hydraulic cylinder market.

Source: BlueWeave Consulting

Global Hydraulic Cylinder Market- Overview

Hydraulic cylinders are actuation tools that leverage pressurized hydraulic fluid for generating linear motion and force. Also known as hydraulic pumps, hydraulic cylinders can be used in any application that requires a powerful push or pull force. Hydraulic cylinders are now used in a variety of industries, including construction, mining, manufacturing, and offshore. Growing industrialization and infrastructural development in various emerging economies are driving up demand for hydraulic cylinders. The global hydraulic cylinder market is also being driven by factors such as high speed, accuracy, and reliability, as well as increased performance and power generation. Additionally, growing infrastructural development in various emerging economies is driving up demand for hydraulic cylinders. Furthermore, consistent R&D activities and technological advances in hydraulic cylinders are estimated to propel the hydraulic cylinder market during the forecast period.

 

Global Hydraulic Cylinder Market Forecast and Trends

Growth Drivers

The Surge in Construction Activities Driving the Market Growth

Growing construction activities are contributing significantly to the growth of the global hydraulic industry. Hydraulic cylinders are in high demand in the construction industry due to their large range of functions and applicability. These cylinders are used in both heavy machinery (such as excavators, bulldozers, and backhoes, as well as smaller equipment like trenchers, lifts, and concrete pumping systems). Construction activities have increased dramatically in recent years as a result of government funding and initiatives, especially in developing economies. As a result, the global hydraulic cylinders market is witnessing significant growth trends.

Flourishing Shipping Industry Fueling the Market Demand for Hydraulic Cylinders

Dockyards in the shipping industry are typically piled hundreds of feet high with shipping containers of varying sizes and weights. Since lifting equipment is used to move these large containers, therefore, such lifting equipment is in high demand in this industry. Moreover, as e-commerce has grown in popularity, the shipping industry has thrived in recent years, necessitating the transport of goods across borders and seas. As a result, the need for lifting equipment will rise, propelling the demand for hydraulic cylinders.

Restraints

Availability of Alternative Products

Hydraulic cylinders are powered by fluids (most commonly oil). The leakage of these fluids pollutes the environment. As a result, end-users who need a safe and healthy atmosphere search for safer and healthy alternatives for hydraulic cylinders. As a result, some sectors, such as agriculture, where cleanliness is crucial, typically use pneumatic cylinders that run on gas, with no risk of contaminating the environment. The availability of these types of alternative products has had a significant effect on market demand for hydraulic cylinders.

Impact of COVID-19 on Global Hydraulic Cylinder Market

As a result of the COVID-19 outbreak, demand for hydraulic cylinders has declined significantly. As soon as WHO declared the situation as a pandemic, several countries imposed a complete lockdown to prevent the spread of the virus. The major end-users for hydraulic cylinders were construction, mining, oil, and gas. However, to adhere to the strict lockdown protocols, the manufacturing and production units had to temporarily suspend their operations. As a result, demand for hydraulic cylinders decreased dramatically, negatively impacting the industry. But in the post-COVID-19 era, the market is expected to get back on track. However, narrowing the demand-supply gap will take some time.

Global Hydraulic Cylinder Market - By Function

Based on function, the market is categorized into single-acting hydraulic cylinders and double-acting hydraulic cylinders. Double-acting hydraulic cylinders enjoy the largest market share as they are largely used in the construction and manufacturing sectors. Because of their retraction capability, double-acting hydraulic cylinders are also increasingly used in the automotive and agriculture, industries. These cylinders use hydraulic fluids, essential oil to put force in both directions, amplifying the pressure to the greatest extent as compared to single-acting hydraulic cylinders which only put pressure from one direction. Therefore, this segment is expected to drive the overall hydraulic cylinder market in the forecast period.

Global Hydraulic Cylinder Market - By Product Type

Based on product type, the market is categorized into the welded cylinders, tie rod cylinders, and others. The welded hydraulic cylinders dominate the market with the highest revenue share. These cylinders are used in heavy machinery because they can carry and transport heavy loads. It is also possible to customize welded hydraulic cylinders which broaden their applicability. Because of these reasons, welded hydraulic cylinders are in high demand in the market, which in turn is fueling the growth of the global hydraulic cylinder market.

Global Hydraulic Cylinder Market - By Application

Based on application, the hydraulic cylinder market is segmented into industrial equipment and mobile equipment. Between these two, the mobile equipment segment (which is used in marine equipment, vehicles, and so on), holds the largest market share. It is estimated that the market will expand during the forecast period as well. However, the industrial equipment segment is also rising at a rapid pace because it has numerous applications, such as metal casting, shaping and sheering, welding, and so on.

Global Hydraulic Cylinder Market - By End-User

Based on end-user, the market is categorized into agriculture, forestry, marine, aerospace and defense, construction, and others (mining, oil, and gas). Among these, the construction segment held the largest market share in the year 2020 and is expected to rise further in the upcoming years. This is due to the increased commercial and residential construction activities, such as the construction of residential spaces, warehouses, shopping malls, and so on. Additionally, commercial construction is expected to rise in the coming years, driving up demand for hydraulic cylinders.

Global Hydraulic Cylinder Market - Regional Insights

Geographically, the global hydraulic cylinder market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle-East & Africa (MEA). Among these regions, North America holds the largest market share in the global hydraulic cylinder market due to the large number of construction activities going on in this region. However, the Asia-Pacific region is also catching up as a potential market as it has registered high demand for hydraulic cylinders over the past few years. Rising industrialization and the push for infrastructural development by the governments of APAC countries are playing a crucial factor behind the growth of the hydraulic cylinder market in the region.


Source: BlueWeave Consulting

Competitive Landscape

The leading market players of global hydraulic cylinder market are Bucher Hydraulics GmbH, Precision Hydraulics Cylinders, Eaton, Enerpac, Parker HANNIFIN CORP, SMC Corporation, Wipro Infrastructure Engineering, Bosch Rexroth AG, WEBER-HYDRAULICS GMBH, KYB Americas Corporation, YUASA CO., LTD, Texas Hydraulics, Kappa Engineering, Pacoma, and other prominent players.

The market players are consistently focusing on launching innovative products to expand their product portfolio. They are also constantly working on expanding their business operations in different geographical locations. Additionally, these companies are concentrating on broadening the applications of their products to attain a competitive edge.

Recent Development

l  In February 2021, Polavaram Project, a multi-purpose irrigation project constructed over the Godavari River (India), became the first major irrigation project in the country to receive the most advanced hydraulic cylinders for the radial gates. 

l  In February 2019, Enerpac, a US-based diversified manufacturing company, launched a single-acting, low-height telescopic hydraulic cylinder. This innovative product has been designed to provide longer cylinder stroke applications, reducing the time and effort required to move heavy loads.

 

 

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa

Product Service/Segmentation

By Function, By Product Type, By Application, By End-User, By Region

Key Players

Bucher Hydraulics GmbH, Precision Hydraulics Cylinders, Eaton, Enerpac, Parker HANNIFIN CORP, SMC Corporation, Wipro Infrastructure Engineering, Bosch Rexroth AG, WEBER-HYDRAULICS GMBH, KYB Americas Corporation, YUASA CO., LTD, Texas Hydraulics, Kappa Engineering, Pacoma GmbH, and other prominent players.



By Function

Ø  Single Acting Hydraulic Cylinders

Ø  Double Acting Hydraulic Cylinders

By Product Type

Ø  Welded Cylinder

Ø  Tie Rod Cylinder

Ø  Others

By Application

Ø  Industrial Equipment

Ø  Mobile Equipment

By End-User

Ø  Agriculture

Ø  Forestry

Ø  Marine

Ø  Aerospace and Defence

Ø  Construction

Ø  Others (Mining, Oil, and Gas)

By Region

Ø  North America

Ø  Europe

Ø  Asia-Pacific (APAC)

Ø  Latin America (LATAM)

Ø  Middle-East & Africa (MEA)

FAQs:

1. What is the current size of the global hydraulic cylinder market?

Answer: The global hydraulic cylinder market reached USD 12.6 billion in 2020.

2. What are the major factors driving the growth of the global hydraulic cylinder market?

Answer: The major factors driving the growth of the global hydraulic cylinder market are; surge in construction activities and flourishing shipping industry.

3. Who are the key players in the global hydraulic cylinder market?

Answer: The key players in the global hydraulic cylinder market are: Bucher Hydraulics GmbH, Precision Hydraulics Cylinders, Eaton, Enerpac, Parker HANNIFIN CORP, SMC Corporation, Wipro Infrastructure Engineering, Bosch Rexroth AG, WEBER-HYDRAULICS GMBH, KYB Americas Corporation, YUASA CO., LTD, Texas Hydraulics, Kappa Engineering, Pacoma GmbH, and other prominent players.

4. Which end-user segment accounted for the largest share in the global hydraulic cylinder market?

Answer: The construction segment accounted for the largest share in the global hydraulic cylinder market.

5. Which region is at the highest growth rate in the global hydraulic cylinder market?

Answer: North America has the largest share in the global hydraulic cylinder market.


1. Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2.    Research Methodology

2.1. Qualitative Research

2.1.1.   Primary and Secondary Sources

2.2. Quantitative Research

2.2.1.   Primary and Secondary Sources

2.3. Breakdown of Primary Research Respondents

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4. Breakdown of Primary Research Respondents, By Industry Participants

2.5. Key Questionnaire asked during Primary Interviews

2.6. Key Primary Responses

2.7. Market Size Estimation

2.8. Assumption for the Study

2.9. Market Breakdown & Data Triangulation

3.    Executive Summary

4.    Global Global Hydraulic Cylinder Market – Industry Insights

4.1. DROC Analysis

4.1.1.   Growth Drivers

4.1.2.   Restraints

4.1.3.   Opportunity

4.1.4.   Challenges

4.2. Recent Developments / Technical Landscape

4.3. Regulatory Framework

4.4. Porter’s Five Forces Analysis

4.5. Value Chain Analysis

4.6. PESTEL Analysis

4.7. Strategic Outlook

5.    Global Global Hydraulic Cylinder Market Overview

5.1. Market Estimates & Forecast by Value, 2017-2027

5.1.1.   By Value (USD Million)

5.2. Market Share & Forecast

5.2.1.   By Function

5.2.1.1. Single Acting Hydraulic Cylinders

5.2.1.2. Double Acting Hydraulic Cylinders

5.2.2.   By Product Type

5.2.2.1. Welded Cylinder

5.2.2.2. Tie Rod Cylinder

5.2.2.3. Others

5.2.3.   By Application

5.2.3.1. Industrial Equipment

5.2.3.2. Mobile Equipment

5.2.4.   By End-User

5.2.4.1. Agriculture

5.2.4.2. Forestry

5.2.4.3. Marine

5.2.4.4. Aerospace and Defence

5.2.4.5. Construction

5.2.4.6. Others (Mining, Oil and Gas)

5.2.5.   By Region

5.2.5.1. North America

5.2.5.2. Europe

5.2.5.3. Asia-Pacific (APAC)

5.2.5.4. Latin America (LATAM)

5.2.5.5. Middle-East & Africa (MEA)

6.    North America Global Hydraulic Cylinder Market Overview

6.1. Market Size and Forecast

6.1.1.   By Value (USD Million), 2017-2027

6.2. Market Share and Forecast

6.2.1.   By Function

6.2.2.   By Product Type

6.2.3.   By Application

6.2.4.   By End-user

6.2.5.   By Country

6.2.5.1. U.S.

6.2.5.2. Canada

7.    Europe Global Hydraulic Cylinder Market Overview

7.1.     Market Size and Forecast

7.1.1.   By Value (USD Million), 2017-2027

7.2.     Market Share and Forecast

7.2.1.   By Function

7.2.2.   By Product Type

7.2.3.   By Application

7.2.4.   By End-user

7.2.5.   By Country

7.2.5.1.   Germany

7.2.5.2.   U.K.

7.2.5.3.   France

7.2.5.4.   Italy

7.2.5.5.   Spain

7.2.5.6.   Russia

7.2.5.7.   Netherlands

7.2.5.8.   Rest of Europe

8.    APAC Global Hydraulic Cylinder Market Overview

8.1.     Market Size and Forecast

8.1.1.   By Value (USD Million), 2017-2027

8.2.     Market Share and Forecast

8.2.1.   By Function

8.2.2.   By Product Type

8.2.3.   By Application

8.2.4.   By End-user

8.2.5.   By Country

8.2.5.1.   China

8.2.5.2.   India

8.2.5.3.   Japan

8.2.5.4.   South Korea

8.2.5.5.   Rest of APAC

9.    LATAM Global Hydraulic Cylinder Market Overview

9.1.     Market Size and Forecast

9.1.1.   By Value (USD Million), 2017-2027

9.2.     Market Share and Forecast

9.2.1.   By Function

9.2.2.   By Product Type

9.2.3.   By Application

9.2.4.   By End-user

9.2.5.   By Country

9.2.5.1.   Mexico

9.2.5.2.   Brazil

9.2.5.3.   Rest of LATAM

10.MEA Global Hydraulic Cylinder Market Overview

10.1.   Market Size and Forecast

10.1.1.                By Value (USD Million), 2017-2027

10.2.   Market Share and Forecast

10.2.1.                By Function

10.2.2.                By Product Type

10.2.3.                By Application

10.2.4.                By End-user

10.2.5.                By Country

10.2.5.1.              Saudi Arabia

10.2.5.2.              UAE

10.2.5.3.              South Africa

10.2.5.4.              Rest of Europe

11.Competitive Landscape

11.1.1.                List of Key Producers and Their Offerings

11.1.2.                Market Share / Ranking Analysis (2020)

11.1.3.                Competitive Benchmarking, By Operating Parameters

12.COVID-19 Impact

12.1.             Future Impact

12.2.             Key Developments during COVID-19

12.3.             Impact on Market

12.3.1.                Different Scenario

12.3.2.                Impact on Companies

12.4.             Regional Impact

13.Key Strategic Recommendations

14. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

14.1.             Bucher Hydraulics GmbH

14.2.             Precision Hydraulics Cylinders

14.3.             Eaton

14.4.             Enerpac

14.5.             Parker HANNIFIN CORP

14.6.             SMC Corporation

14.7.             Wipro infrastructure Engineering

14.8.             Bosch Rexroth AG

14.9.             WEBER-HYDRAULICS GMBH

14.10.          KYB Americas Corporation

14.11.          YUASA CO., LTD

14.12.          LEHIGH FLUID POWER, Inc.

14.13.          Aggressive Hydraulics Ltd.

14.14.          Holmatro

14.15.          Ligon Hydraulics Cylinder Groups

14.16.          Prince Manufacturing

14.17.          Texas Hydraulics

14.18.          Kappa Engineering

14.19.          Pacoma

14.20.          Other Prominent Players

Market Segmentation

No data available

By Function

Ø  Single Acting Hydraulic Cylinders

Ø  Double Acting Hydraulic Cylinders

By Product Type

Ø  Welded Cylinder

Ø  Tie Rod Cylinder

Ø  Others

By Application

Ø  Industrial Equipment

Ø  Mobile Equipment

By End-User

Ø  Agriculture

Ø  Forestry

Ø  Marine

Ø  Aerospace and Defence

Ø  Construction

Ø  Others (Mining, Oil, and Gas)

By Region

Ø  North America

Ø  Europe

Ø  Asia-Pacific (APAC)

Ø  Latin America (LATAM)

Ø  Middle-East & Africa (MEA)

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