The global hydraulic cylinder market reached a value of US$ 13.8 Billion in 2019. Looking forward, the market is projected to reach a value of US$ 18.1 Billion by 2025, registering a CAGR of 4.6% during 2020-2025.
The growing construction and mining industries are among the key factors driving the growth of the market. Owing to rapid industrialization and urbanization, especially across the emerging nations, hydraulic cylinders are increasingly being utilized in heavy machinery, including backhoes, trenchers, asphalt laying machines, concrete cutting saws and motor graders. Additionally, expansion in the aerospace and defense sectors is acting as another major growth-inducing factor.
These cylinders are used in aircraft to operate flaps, brakes and landing gear. They are also employed for thrust reversers, telehandlers, bomb loaders, automated pallet and personnel door systems in military equipment. The increasing mechanization and automation of agricultural equipment are also significantly contributing to the growth of the market. Farmers are increasingly replacing traditionally used manual equipment with hydraulic devices to enhance the overall efficiency of various agricultural operations.
Other factors, including product innovations and implementation of favorable government policies to promote infrastructural development, are projected to drive the market further.
The competitive landscape of the industry has also been examined with some of the key players being Actuant Corporation, Bosch Rexroth AG, Caterpillar Inc., Eaton Corporation, Hannon Hydraulics, HYDAC, JARP Industries, Kappa Engineering, KYB Corporation, Parker-Hannifin Corporation, SMC Corporation, Texas Hydraulics Inc., United Hydraulics, Wipro Enterprises, etc.
Key Questions Answered
How has the global hydraulic cylinder market performed so far and how will it perform in the coming years?
What are the key regional markets in the industry?
What is the breakup of the market based on the function?
What is the breakup of the market based on the type?
What is the breakup of the market based on the bore size?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global hydraulic cylinder market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered
2 Scope and Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends