Hydraulic Cylinder Market Major Companies, Strategies and New Trends By 2027

Hydraulic cylinder market report share is projected to reach USD 18.3 billion by 2027 growing at a CAGR of 4.4% during forecast.

The major factors driving the market include the increasing potential of the construction industry, which induces increased adoption of automated heavy construction vehicles equipped with hydraulic cylinders for various operations. The increasing adoption of material handling equipment across industries such as agriculture, construction, and mining has also increased the demand for hydraulic cylinders worldwide. Government initiatives to revive infrastructural projects across countries have helped the demand for hydraulic cylinders to grow, owing to their increased adoption in construction and material handling industries.

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Opportunities: Increasing demand for lifting equipment in shipping industry

Dockyards usually have numerous shipping containers of varied sizes and weights, which are stacked hundreds of feet high. There are numerous containers worldwide with standard sizes of 20, 40, 45, 48, and 53 feet and weigh around 30 to 42 tons. To ship these heavy containers, lifting equipment are used. Shipping is the most important mode of transport worldwide that facilitates international trade. The majority of items, from electronics, automobiles, textiles, and raw metals to oil & gas, are transported by ships. The facilitating institutional and technological factors such as the adoption of industrial IoT and support from governments are propelling the growth of the shipping industry, which fuels the need for lifting equipment at ports. Though the adoption of lifting equipment is still at a nascent stage, it is expected to rise significantly in the coming years and, therefore, is expected to be a potent source of demand for hydraulic cylinders.

Challenges: Availability of substitutes

Hydraulic cylinders are operated by fluid, mostly oil. The leakage of these fluids causes environmental contamination. Thus, end users looking to maintain a clean and healthy environment prefer cleaner alternatives against hydraulic cylinders. One such option is the use of pneumatic cylinders, which use the pressure of compressed gas to produce a force in a reciprocating linear motion. Since pneumatic cylinders use a gas, even if there is any leakage, it does not contaminate the surrounding. Pneumatic cylinders are used in agricultural and material handling applications, which require the personnel to be in close proximity to these cylinders. Thus, the availability of cleaner substitutes acts as a challenge for the growth of the hydraulic cylinder market.