Global Hydraulic Cylinder Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Welded, Tie Rod, Telescopic, Mill Type), By Function (Double-acting and Single-acting), By Industry Verticals (Automotive, Marine, Construction, Aerospace, Material Handling, Agriculture, Mining, Oil & Gas, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032Industry: Machinery & Equipment
Global Hydraulic Cylinder Market Insights Forecasts to 2032
- The Global Hydraulic Cylinder Market Size was valued at USD 16.81 Billion in 2022.
- The Market is growing at a CAGR of 4.40% from 2022 to 2032
- The Worldwide Hydraulic Cylinder Market is expected to reach USD 24.77 Billion by 2032
- North America is expected to grow the fastest during the forecast period
Get more details on this report -
The Global Hydraulic Cylinder Market Size is expected to reach USD 24.77 Billion by 2032, at a CAGR of 4.40% during the forecast period 2022 to 2032.
A mechanical actuator that is utilized to provide a single-directional force through a bidirectional stroke is a hydraulic cylinder, also known as a linear hydraulic motor. It has a wide range of uses, including construction equipment, vehicles, industrial equipment, elevators, and structural engineering. A hydraulic cylinder is one of the four essential components of the hydraulic system, whilst a hydraulic system is a technique that uses fluid, most typically hydraulic oil, as its medium to transport energy from a motor to an actuator, most commonly a hydraulic cylinder. In order to raise or lower the boom, arm, or bucket, hydraulic cylinders are utilized in earth-moving machineries like excavators, backhoes, and loaders.
Hydraulic cylinders are also utilized in hydraulic bending machines, metal sheet shearing machines, and hot presses for manufacturing particle boards or plywood. The rising demand for the construction industry, which stimulates greater utilization of automated heavy construction trucks equipped with hydraulic cylinders for diverse tasks, is one of the primary reasons driving the hydraulic cylinder market. The growing use of equipment for handling materials in applications such as farming, building, and the mining process has raised the demand for the global hydraulic cylinder market. Furthermore, the growing demand for material handling machinery across industry sectors globally is a major driver of hydraulic cylinder market growth.
Global Hydraulic Cylinder Market Report Coverage
|Market Size in 2022:||USD 16.81 Billion|
|Forecast Period 2022-2032 CAGR:||4.40%|
|2032 Value Projection:||USD 24.77 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||100|
|Segments covered:||By Product Type, By Function, By Industry Verticals, By Region and COVID-19 Impact Analysis|
|Companies Covered:||KYB Corporation, Bosch Rexroth, Yates Industries Inc., Bosch Rexroth, Texas Hydraulics, Eaton, Southern Hydraulic Cylinder, Inc., SMC Corporation, Caterpillar, HYDAC, Pacoma GmbH, Wipro Enterprises, Parker-Hannifin Corporation, WEBER-HYDRAULIK GMBH, Liebherr, Jiangsu Hengli Hydraulic Co., Ltd.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
Get more details on this report -
The growing use of hydraulic cylinders in a variety of industries, including material handling, construction and infrastructure, marine, and earthmoving, is driving the hydraulic cylinder market expansion. Furthermore, government measures to boost reconstruction initiatives across economies have aided in the growth of demand for hydraulic cylinders, attributable to their rising popularity in the construction and material handling segments. In addition, rising agricultural automation throughout regions, particularly in APAC, and rising mining exploration operations generally have fueled the expansion of the hydraulic cylinder market.
The increasing economic growth and urbanization in developing nations such as Japan, China, India, Indonesia, Bangladesh, Vietnam, and several other countries are boosting infrastructure development. The demand for construction equipment is expected to be driven by the numerous new infrastructure development plans and projects that are currently in progress, particularly in developing nations like China and India. These cylinders are designed to be used frequently for longer spans of time and offer resistance to deterioration, abrasion, severe temperatures, and weather changes. As a result of these benefits, the market for them in sectors such as construction has risen dramatically.
However, international turmoil, insufficient automation skills, unpredictability, insufficient data gathering skills, frequent repairs, low operating efficiency, huge system footprint, and dependence on temperature are significant challenges limiting market revenue development.
By Industry Verticals Insights
The oil & gas segment accounted the largest revenue share of more than 37.2% over the forecast period.
On the basis of industry verticals, the global hydraulic cylinder market is segmented into automotive, marine, construction, aerospace, material handling, agriculture, mining, oil & gas, and others. Among these, oil & gas are dominating the market with the largest revenue share of 37.2% over the forecast period. Oil is essential by numerous industries for enhancing equipment performance as well as for the appropriate operation of industrial equipment in accurate high condition. Hydraulic cylinders are largely utilized in the oil and gas industry for oil rig drilling and fracking equipment, walking systems for land-based rigs, pipeline handling instruments, and other applications. A considerable investment in monitoring oil conditions is a key driver driving this segment's global revenue growth. Furthermore, the rising demands for inexpensive machinery maintenance solutions, as well as the increasing prevalence of Internet-of-Things (IoT)-based technologies, have led to the expansion of the hydraulic cylinder market.
By Product Type Insights
The welded segment is witnessing significant CAGR growth over the forecast period.
On the basis of product type, the global hydraulic cylinder market is segmented into welded, tie rod, telescopic, and mill types. Among these, welded is witnessing significant CAGR growth over the forecast period. Welded hydraulic cylinders are used in a variety of industries, including construction, energy, oil and gas mining, waste and material handling, and heavy machinery. The increased use of welded hydraulic cylinders in these markets is likely to boost segment growth. Furthermore, rising demand for these cylinders due to their rapid distribution and low cost is likely to drive the hydraulic cylinder market growth throughout the forecast period.
By Function Insights
The double-acting segment is dominating the market with the largest revenue share over the forecast period.
On the basis of function, the global hydraulic cylinder market is segmented into the double-acting and single-acting. Among these, the double-acting segment is dominating the market with the largest revenue share of 68.3% over the forecast period. Double-acting hydraulic cylinders are used in huge-scale engines including naval engines, steam turbines, industrial combustion appliances, earthmoving equipment, and various construction machinery. Increased demand for the products in these applications is likely to drive the market for double-acting hydraulic cylinders throughout the period of forecasting.
Asia Pacific dominates the market with the largest market share over the forecast period.
Get more details on this report -
Asia Pacific is dominating the market with more than 36.4% market share over the forecast period. The rising need for related to agriculture, construction, and extractive machinery in this region is driving market expansion. Asia Pacific's biggest hydraulic cylinder markets are Japan and China. Leading automobile manufacturers and suppliers in Japan are being pressured by growing labor expenses and longer lead times due to labor-intensive processes. To address these issues, businesses are implementing automated and semi-automated material handling technologies. Furthermore, India's growing population is expected to stimulate the construction sector in the next years, which would drive the Asia Pacific hydraulic cylinder market expansion. Due to enormous capital expenditures in building operations and a growing number of original equipment manufacturers (OEMs), China's market accounted for the second-greatest revenue share.
North America, on the other hand, is predicted to develop the fastest during the projection period, owing to a greater emphasis on boosting economic growth rates through investments in infrastructure and building, energy & power, transportation, aviation, logistics, and shipping the manufacturing sector. Given the establishment of multiple machinery and equipment manufacturers in the country, the United States is one of the region's primary markets for hydraulic cylinders. Hydraulic cylinders help manufacturing machinery attain superior efficiency while drastically reducing downtime. The government's investments in the development of smart cities and commercial projects are also expected to boost the demand for the hydraulic cylinder market.
The Europe market is expected to register a substantial CAGR growth rate during the forecast period. A major driver boosting market revenue growth in this region is the rising demand for hydraulic cylinders made of high-quality components and raw materials. Furthermore, market players in nations such as Germany, the United Kingdom, Italy, and others are giving products at reasonable costs along with complimentary services for a limited time. Furthermore, due to major investments in R&D and infrastructure initiatives, Germany's hydraulic cylinder market accounted for the greatest revenue share.
List of Key Market Players
- KYB Corporation
- Bosch Rexroth
- Yates Industries Inc.
- Bosch Rexroth
- Texas Hydraulics
- Southern Hydraulic Cylinder, Inc.
- SMC Corporation
- Pacoma GmbH
- Wipro Enterprises
- Parker-Hannifin Corporation
- WEBER-HYDRAULIK GMBH
- Jiangsu Hengli Hydraulic Co., Ltd.
Key Market Developments
- On December 2022, Liebherr-Components Kirchdorf GmbH has begun work on a new factory in Oberopfingen, Germany. The facility, which is set to open in 2024, will have a total ground surface of around 46,000 square meters and will house the mechanical manufacturing of hydraulic cylinders, which are now manufactured in Kirchdorf a der Iller. Administrative areas relating to production will also be relocated to the site.
- On December 2022, the cordless bolt pulling cylinder developed jointly with Liebherr by WEBER-HYDRAULIK and WEBER RESCUE SYSTEMS delivers considerable time and cost savings when setting up building sites: the mobile device replaces heavy diesel machines and contributes to enhanced safety.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Hydraulic Cylinder Market based on the below-mentioned segments:
Hydraulic Cylinder Market, Product Type Analysis
- Tie Rod
- Mill Type
Hydraulic Cylinder Market, Function Analysis
Hydraulic Cylinder Market, Industry Verticals Analysis
- Material Handling
- Oil & Gas
Hydraulic Cylinder Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of the Hydraulic Cylinder market?The Global Hydraulic Cylinder Market is expected to grow from USD 16.81 billion in 2022 to USD 24.77 billion by 2032, at a CAGR of 4.40% during the forecast period 2022-2032.
2. Which are the key companies in the market?KYB Corporation, Bosch Rexroth, Yates Industries Inc., Bosch Rexroth, Texas Hydraulics, Eaton, Southern Hydraulic Cylinder, Inc., SMC Corporation, Caterpillar, HYDAC, Pacoma GmbH, Wipro Enterprises, Parker-Hannifin Corporation, WEBER-HYDRAULIK GMBH, Liebherr, Jiangsu Hengli Hydraulic Co., Ltd., and
3. Which segment dominated the Hydraulic Cylinder market share?The double-acting segment in function type dominated the Hydraulic Cylinder market in 2022 and accounted for a revenue share of over 68.3%.
4. What are the elements driving the growth of the Hydraulic Cylinder market?The rising utilization of hydraulic cylinders in several industries such as material handling, construction & infrastructure, maritime, and earthmoving are key factors driving the hydraulic cylinder machine market
5. Which region is dominating the Hydraulic Cylinder market?Asia Pacific is dominating the Hydraulic Cylinder market with more than 36.4% market share.
6. Which segment holds the largest market share of the Hydraulic Cylinder market?The welded segment based on product type holds the maximum market share of the Hydraulic Cylinder market
Need help to buy this report?