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
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
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.
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
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.
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
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa
By Function, By Product Type, By Application, By End-User, By Region
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.
Ø Single Acting Hydraulic Cylinders
Ø Double Acting Hydraulic Cylinders
By Product Type
Ø Welded Cylinder
Ø Tie Rod Cylinder
Ø Industrial Equipment
Ø Mobile Equipment
Ø Aerospace and Defence
Ø Others (Mining, Oil, and Gas)
Ø North America
Ø Asia-Pacific (APAC)
Ø Latin America (LATAM)
Ø Middle-East & Africa (MEA)
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.
- Global Agriculture Technology as a Service Market Analysis and Forecast to 2020-2026
- North America French Fries Market Size, Share, Trends, Demand and Forecast to 2026
- Global Ceramics Tiles Market Size, Trend Analysis, Market Competition Scenario & Outlook, 2016-2026
- India Appliances Market Size – Industry Trends & Forecast Report 2026
- India Automotive CNG and LPG Kit Market Size, Share & Forecast 2027 | BlueWeave
WHY CHOOSE US
24/7 Research support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Coustom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs
Quality & Accuracy
Ask the Analyst to customize an exclusive study to serve your research needs
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
We never share your personal and confidential information. Your personal information is safe and secure with us.