Hydraulic Cylinder Market Size to be Worth USD USD 20.49 Billion Growing at 4.0% CAGR till 2030; Industry Revenue, Statistics, Forecast by Emergen Research

In the upcoming years, the hydraulic cylinder market, which is now experiencing tremendous growth, is expected to continue to expand. The use of hydraulic cylinders is ubiquitous throughout many different industries, including manufacturing, agriculture, and construction. They are an essential part of a lot of heavy machinery and equipment. A hydraulic cylinder is a mechanical actuator used in machinery to produce force and linear motion by converting hydraulic energy into mechanical energy.

The expansion of the construction sector is one of the major factors driving the hydraulic cylinder market. One of the biggest markets for hydraulic cylinders is the construction sector, which is driven by the demand for heavy machinery like excavators, bulldozers, and cranes. The demand for hydraulic cylinders is anticipated to stay high as urbanisation and infrastructure expansion fuel growth in the construction sector.

The expansion of the manufacturing industry is another important factor driving the hydraulic cylinder market. Heavy machinery and equipment, which significantly rely on hydraulic cylinders for their operation, are frequently used in manufacturing operations. As the manufacturing sector keeps growing and modernising, the need for hydraulic cylinders is anticipated to rise.

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The market for hydraulic cylinders does face certain difficulties, though. The high price of hydraulic cylinders is one of the biggest issues the sector is now facing. Hydraulic cylinder development and manufacturing can be expensive, and this cost is frequently passed on to customers. As a result, some prospective clients might decide to use different options, including electric actuators or pneumatic cylinders.

Additionally, changes in the price of raw materials might affect the hydraulic cylinder market. Materials including steel, aluminium, and titanium are frequently used to make hydraulic cylinders, although their prices might fluctuate due to factors like global supply and demand. This might make it challenging for manufacturers to budget and manage their expenses.

Despite these obstacles, the hydraulic cylinder industry is anticipated to expand over the next few years. A number of significant growth factors are anticipated to fuel the need for hydraulic cylinders, including the expansion of the manufacturing and construction sectors as well as rising funding for international infrastructure projects.

Major Companies and Competitive Landscape:

The hydraulic cylinder market is highly competitive, with a large number of players operating in the industry. Some of the key players in the market include Enerpac Tool Group, Bosch Rexroth AG, Caterpillar, Eaton, KYB Corporation, Parker Hannifin Corp, SMC Corporation, Hengli hydraulic, Hydac International GmbH, Standex International Corporation, Texas Hydraulics, and Weber-Hydraulic GmbH. These companies account for a significant share of the market and have established a strong presence in the industry through their innovative products and technologies.

To maintain their competitive edge, many companies are investing heavily in research and development to develop new and innovative products. For example, some companies are developing hydraulic cylinders that can operate at higher pressures, enabling them to generate more force and power. Others are focusing on developing lighter and more compact hydraulic cylinders that can be used in smaller machinery and equipment.

In addition to investing in research and development, many companies are also expanding their geographic reach through strategic partnerships and acquisitions. For example, in 2019, Parker Hannifin Corporation acquired LORD Corporation, a leading provider of hydraulic and mechanical motion control solutions. This acquisition allowed Parker Hannifin to expand its product portfolio and strengthen its presence in key markets around the world.

Another important factor in the competitive landscape of the hydraulic cylinder market is the increasing focus on sustainability and energy efficiency. Many companies are developing hydraulic cylinders that are more energy-efficient and environmentally friendly, in response to growing demand from customers and regulators. This trend is expected to continue in the coming years, as companies seek to differentiate themselves in an increasingly crowded market.

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Segmentation Insights for Hydraulic Cylinder Market Report:

The global hydraulic cylinder market is segmented based on function, specification, industry, and region. Based on function, the market is divided into double-acting hydraulic cylinders and single-acting hydraulic cylinders. Double-acting hydraulic cylinders are expected to hold the largest share of the market during the forecast period, owing to their ability to generate force in both directions. The market for single-acting hydraulic cylinders is also expected to grow steadily due to their relatively low cost and simplicity of operation.

Based on specification, the hydraulic cylinder market is segmented into welded cylinders, tie rod cylinders, telescopic cylinders, and mill type hydraulic cylinders. The welded cylinder segment is expected to hold the largest share of the market during the forecast period, due to their versatility and ability to operate at high pressures. The tie rod cylinder segment is also expected to grow significantly, owing to their high strength and durability.

In terms of industry, the hydraulic cylinder market is segmented into construction, automotive, oil & gas, and others. The construction industry is expected to hold the largest share of the market during the forecast period, owing to the widespread use of hydraulic cylinders in heavy equipment such as excavators, bulldozers, and cranes. The automotive industry is also expected to grow significantly, driven by the increasing demand for electric and hybrid vehicles.

Geographically, the hydraulic cylinder market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is expected to hold the largest share of the market during the forecast period, owing to the growth of the manufacturing and construction industries in countries such as China, India, and Japan. North America and Europe are also expected to grow significantly, driven by the increasing investment in infrastructure projects and the adoption of advanced manufacturing technologies.

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