NEW YORK, Oct. 8, 2021 /PRNewswire/ -- The global hydraulic cylinder market by end-user (CMMH, agriculture, aerospace and defense, and industrial equipment) and geography (APAC, North America, Europe, MEA, and South America) has been added to Technavio's offering. The global hydraulic cylinder market is set to grow by USD 2.53 Bn, accelerating at a CAGR of about 5% between 2021 and 2025.
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Following the second wave of the COVID-19 pandemic, countries across the world have adopted stricter safety guidelines. This has resumed manufacturing activities and increased the number of construction activities worldwide. The resurgence of these activities is increasing the demand for hydraulic equipment such as valves, pumps, cylinders, and filters.
The market is expected to be driven by factors such as the mechanization of agriculture and growth in the agriculture machinery market, and increased growth in the global construction machinery market, and a growing commercial aircraft leasing market.
Governments across the world are focusing on developing and revamping their infrastructure. For instance, governments in countries such as Saudi Arabia and the UAE are making significant investments in the development of luxury hotels, resorts, parks, and religious monuments to accommodate the increasing tourist population from the Middle East. Such developments are increasing the demand for construction machinery, thereby creating several growth opportunities for market players.
Hydraulic Cylinder Market: Segmentation by Type
Based on the segmentation by end-user, the market generated maximum revenue in the CMMH segment in 2020. The segment is driven by the advantages of CMMH machinery such as ease of mounting and high precision compared with substitutes such as pneumatic cylinders. Also, the growth of the global construction industry is contributing to the growth of the segment.
Hydraulic Cylinder Market: Segmentation by Geography
APAC held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the rapid growth of the construction industry coupled with the high adoption of construction machinery and material handling equipment in the region. Also, the strong growth of the automotive industry is contributing to the growth of the hydraulic cylinder market in APAC.
One of the fortune 500 companies had used the detailed research report on the hydraulic cylinder market and had decided to increase their market share in the APAC region which offers the highest market opportunities during the forecast period.
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Hydraulic Cylinder Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of about 5%
Market growth 2021-2025
$ 2.53 billion
YoY growth (%)
APAC, North America, Europe, MEA, and South America
Performing market contribution
APAC at 47%
Key consumer countries
The US, China, Germany, Japan, and the UK
Leading companies, competitive strategies, consumer engagement scope
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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