The global hydraulic cylinder market is projected to grow at a CAGR of 4.6% from 2023 to 2033, with the market valuation expected to exceed USD 24 billion by 2033, up from an estimated USD 15.3 billion in 2023.
Hydraulic cylinders are in high demand within the automotive industry, which was valued at a staggering USD 2.8 trillion in 2021 and is forecasted to grow at a strong pace over the coming years, presenting significant opportunities for the hydraulic cylinder market.
In the construction sector, hydraulic cylinders play a crucial role in concrete preparation and the transportation of heavy loads to construction sites. The ongoing rapid urbanization in many regions is expected to further boost market demand.
Hydraulic cylinders are also favored for their ability to provide variable speed control, preventing wear and tear in harsh conditions. Compact hydraulic cylinders, despite their smaller size, deliver efficient power-to-weight ratios, attracting substantial investment. These factors are anticipated to drive hydraulic cylinder sales throughout the forecast period.
However, supply chain disruptions and raw material shortages are likely to pose challenges to market 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
The manufacturers operating in the hydraulic cylinder market are expected to invest in crucial acquisitions. This comes at a time when all the pending projects are done on a priority basis after a brief gap. Apart from that, the intention is to grab lion’s share of the market. The key players are also pumping in millions of dollars in research and development activities. A lot of emphasis is being laid on sustainable initiatives. With governments worldwide adopting stringent measures to cut down carbon emissions, the key players have started adopting eco-friendly practices, and are making use of green technology.
Global Hydraulic Cylinder Market Segmentation:
By Function:
- Single-Acting
- Double-Acting
By Specification:
- Welded
- Tie Rod
- Telescopic
- Mill Type
By Application:
- Industrial
- Mobile
By Bore Size:
- < 50 MM
- 50 MM to 150 MM
- > 150 MM
By Industry:
- Construction
- Aerospace
- Material Handling
- Automotive
- Mining
- Marine
- Oil & Gas
- Others
Report Preview: https://www.futuremarketinsights.com/reports/global-hydraulic-cylinder-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube