Increasing Demand for Hydraulic Cylinder Market by 2025

The global hydraulic cylinder market size is expected to grow from USD 13.4 billion in 2020 to USD 15.8 billion by 2025 at a CAGR of 3.3%. The market growth is fueled by significant demand from the construction industry and growing use in mining equipment. Moreover, the increasing demand for material handling equipment is also driving the demand for hydraulic cylinders.

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COVID-19 impact on the Global Hydraulic Cylinder Market

COVID-19 has emerged as a global pandemic that has spread across more than 200 countries worldwide and disrupted various industries around the world. The dynamics upon which various industries used to operate are set to change drastically. As the world continues to fight this crisis, multiple industries continue to experience a constant decline. A sharp decline in demand from end-use industries such as aerospace, automotive, construction, mining, and oil & gas is likely to affect the market. The demand for hydraulic cylinders from these industries is reducing as the COVID-19 pandemic is reducing manufacturing output as well as consumer confidence. The overcapacity caused by lower demand from these industries is anticipated to reduce average profit margins in FY2020. Two majorities of the areas impacted by the pandemic in industries such as aerospace & defense, automotive, construction, mining, and oil & gas are the on-site deployment of personals for operations that cannot be carried out remotely and the demand for industrial equipment (including equipment that use hydraulic cylinders) owing to the global economic slowdown. All these factors are expected to negatively impact the growth of the global hydraulic cylinder market.

The hydraulic cylinder market for double-acting hydraulic cylinders to grow at highest CAGR from 2020 to 2025

Double-acting hydraulic cylinders are used in agriculture, automotive, and several other industries owing to their retraction property. Double-acting hydraulic cylinders have a higher demand in mobile applications such as lifting equipment, tractors, harvesters, telescopic loaders, earth moving equipment, forklifts, and heavy trucks.

Hydraulic cylinder market for agriculture to exhibit high growth during the forecast period

Demand for agricultural equipment is on the rise in agriculture-based economies of APAC such as India, Nepal, and Myanmar, where the production of wheat, rice, cotton, and sugarcane is increasing to address the export demands from the US, Hong Kong, Germany, and Vietnam among others. This has increased investments in machines and equipment for precision agriculture, which is likely to drive the demand for hydraulic cylinders in agriculture industry.

Hydraulic cylinder market in APAC to grow at highest CAGR during the forecast period

The hydraulic cylinder industry in APAC is expected to grow at the highest CAGR during the forecast period. Japan is expected to continue to account for the largest hydraulic cylinder market share in APAC during the forecast period, followed by Australia and China. The growth of the market in APAC can be attributed to rapid industrialization and infrastructure development. Hydraulic cylinders are major components in both construction equipment and agricultural equipment. Since both equipment has high demand in APAC, the market for hydraulic cylinders is expected to grow at a substantial rate in the next few years.

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Key Market Players

Enerpac Tool Group (US), Bosch Rexroth (Germany), Eaton (Ireland), KYB Corporation (Japan), Parker-Hannifin Corporation (US), Caterpillar (US), SMC Corporation (Japan), Jiangsu Hengli Hydraulic (China), Wipro Enterprises (India), HYDAC (Germany) were the major players in the market.

Hydraulic Cylinder Market with COVID-19 Impact Analysis by 2025

According to the new market research report "Hydraulic Cylinder Market with COVID-19 impact, by Function (Double-Acting, Single-Acting), Specification (Welded, Tie-Rod, Telescopic, Mill-Type), Application (Mobile and Industrial), Bore Size, Industry, and Region - Global Forecast to 2025", the global hydraulic cylinder market size is projected to reach USD 15.8 billion by 2025 from USD 13.4 billion in 2020 at a CAGR of 3.3%. The market growth is fueled by rising demand from the construction industry, growing use in mining equipment, and increasing demand for material handling equipment.

Browse 201 market data Tables and 65 Figures spread through 239 Pages and in-depth TOC on "Hydraulic Cylinder Market with COVID-19 impact - Global Forecast to 2025"

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Double-acting hydraulic cylinders to hold the largest size of hydraulic cylinder market from 2020 to 2025

Double-acting hydraulic cylinders are suitable for use in presses and chippers for opening and closing drawers and all types of raising and lowering devices such as excavators and cranes. Unlike single-acting cylinders, double-acting cylinders have two ports, i.e., the cap-end port and rod-end port, enabling them to operate hydraulically in forward as well as backward directions. They can be used vertically as well as horizontally as they have the mechanism to help the piston to expand and retract each time it pushes or needs to pull an object. The growing agriculture industry in APAC is expected to increase the demand for double-acting hydraulic cylinders.

Telescopic hydraulic cylinder market to grow at highest CAGR during the forecast period

Telescopic cylinders are also called multi-stage cylinders. They comprise several cylinders nested inside each other, termed as stages. To maintain stability, there are six stages. The largest sleeve is called the main or barrel within which the smaller ones fit. The retraction length of these cylinders is 20–40% of the fully extended length. Therefore, telescopic cylinders are ideal when mounting space is limited, and a long stroke is required. The high growth of telescopic hydraulic cylinders is attributed to their extensive use in applications such as dump trucks, excavators, roll-off trucks, and cranes.

Hydraulic cylinder market for agriculture industry to grow at highest CAGR from 2020 to 2025

Increasing population across the world and deteriorating environmental conditions have put pressure on the agriculture industry to meet the food demands. This has increased investments in machines for precision agriculture, which is expected to drive the demand for hydraulic cylinders. However, some of the major agriculture equipment manufacturers announced temporary factory shutdowns in the past few months due to the recent outbreak of the COVID-19 pandemic. Most of the agriculture equipment manufacturers source a few components such as hydraulic cylinders from suppliers that are also scaling back or struggling to remain open. This is expected to act as a challenge for the growth of the hydraulic cylinder market for the agriculture industry during the COVID-19 pandemic.

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APAC to be the fastest-growing market for hydraulic cylinders during forecast period

The hydraulic cylinder market in APAC is expected to grow at the highest CAGR during 2020 to 2025. Increasing demand for agricultural, construction, and mining equipment in APAC is supporting the growth of the hydraulic cylinder industry in the region. Countries such as China, Japan, and India are a few of the major manufacturing hubs for hydraulic cylinders. However, the outbreak of the COVID-19 pandemic in the region has led to a significant slowdown in the manufacturing industry. The pandemic has severely affected the manufacturing and supply chain of hydraulic cylinders. The implementation of lockdown in several countries in the region has led to supply chain disruptions eventually affecting the global economy.

The key players operating in the hydraulic cylinder market include Enerpac Tool Group (US), Bosch Rexroth (Germany), Caterpillar (US), Eaton (Ireland), KYB Corporation (Japan), Parker-Hannifin Corporation (US), SMC Corporation (Japan), Jiangsu Hengli Hydraulic (China), Wipro Enterprises (India), HYDAC (Germany).

Hydraulic Cylinder Market is expected to reach at the highest CAGR by 2023

According to the new market research report "Hydraulic Cylinder Market by Function (Single Acting, Double Acting), Specification (Telescopic, Tie Rod, Mill Type, Welded), Application (Mobile and Industrial), Bore size, Industry, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to be valued at USD 13.64 Billion in 2017 and is projected to reach USD 19.30 Billion by 2023, at a CAGR of 5.95% between 2017 and 2023.

The key factor driving the growth of the hydraulic cylinder market is their rising demand in the construction industry and mining process equipment. Increasing demand for lifting equipment in the shipping industry and for material handling equipment in the aerospace & defense industry is the key opportunity for the players in the hydraulic cylinder market.

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Double-acting hydraulic cylinders to hold largest share of market between 2017 and 2023 

Double-acting hydraulic cylinders are suitable in presses and chippers for opening and closing drawers and for all types of raising and lowering devices. Unlike single-acting, double-acting cylinders have 2 ports i.e., cap end port and rod end port enabling them to operate hydraulically in forward as well as backward direction. Companies involved in the development of double-acting hydraulic cylinders include Hirotaka (Japan), Nordon Cylinders (Australia), SSH Stainless (Denmark), and Helipebs Controls (UK), among others.

Construction industry to hold largest share of hydraulic cylinder market between 2017 and 2023 

Excavators, telehandlers, compactors, backhoe loaders, concrete and cement machines, drilling rigs, wheel loaders, loading shovels, dumper trucks, and quick hitches are deployed with heavy-duty hydraulic cylinders. These machines extensively use hydraulic cylinders for a wide range of specific purposes owing to their strength, performance, and reliability. Hydraulic cylinder providers operating in the construction industry include JARP Industries (US), Oscar Equipment (India), AH Garner (UK), and Actuant (US).

Browse in-depth TOC on "Hydraulic Cylinder Market"

Tables – 66

Figures – 55

Pages- 154

APAC held largest share of hydraulic cylinder market in 2016 

APAC is the largest and fastest-growing market for hydraulic cylinders. APAC accounted for a share of ~32% of the global hydraulic cylinder market in 2016. The market in this region is expected to grow at the highest CAGR of 6.30% between 2017 and 2023. This growth is mainly attributed to the growing adoption of hydraulic cylinders across manufacturing industries. The increasing popularity of hydraulic cylinders owing to their superior results encourages more companies in APAC to install these cylinders in automated equipment. Some of the key players in the hydraulic cylinder market in APAC are Wipro (India), Apex Hydraulics (India), EZY-FIT Hydraulics. (Australia), and Yuci Hydraulics (China).

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The major players in the hydraulic cylinder market are Caterpillar (US), Parker Hannifin (US), Actuant (US), Eaton (Ireland), Jiangsu Hengli Hydraulic (China), Robert Bosch (Germany), and Wipro (India).

Driving the Growth of Hydraulic Cylinder Market 2023 - Rising Demand in the Construction, Shipping, Aerospace & Defense Industries

According to the new market research report "Hydraulic Cylinder Market by Function (Single Acting, Double Acting), Specification (Telescopic, Tie Rod, Mill Type, Welded), Application (Mobile and Industrial), Bore size, Industry, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to be valued at USD 13.64 Billion in 2017 and is projected to reach USD 19.30 Billion by 2023, at a CAGR of 5.95% between 2017 and 2023. 

The key factor driving the growth of the hydraulic cylinder market is their rising demand in the construction industry and mining process equipment. Increasing demand for lifting equipment in the shipping industry and for material handling equipment in the aerospace & defense industry is the key opportunity for the players in the hydraulic cylinder market.

Download PDF Brochure:

http://www.marketsandmarkets.com/pdfdownload.asp?id=252743122

Double-acting hydraulic cylinders to hold largest share of market between 2017 and 2023 

Double-acting hydraulic cylinders are suitable in presses and chippers for opening and closing drawers and for all types of raising and lowering devices. Unlike single-acting, double-acting cylinders have 2 ports i.e., cap end port and rod end port enabling them to operate hydraulically in forward as well as backward direction. Companies involved in the development of double-acting hydraulic cylinders include Hirotaka (Japan), Nordon Cylinders (Australia), SSH Stainless (Denmark), and Helipebs Controls (UK), among others.

Construction industry to hold largest share of hydraulic cylinder market between 2017 and 2023 

Excavators, telehandlers, compactors, backhoe loaders, concrete and cement machines, drilling rigs, wheel loaders, loading shovels, dumper trucks, and quick hitches are deployed with heavy-duty hydraulic cylinders. These machines extensively use hydraulic cylinders for a wide range of specific purposes owing to their strength, performance, and reliability. Hydraulic cylinder providers operating in the construction industry include JARP Industries (US), Oscar Equipment (India), AH Garner (UK), and Actuant (US).

Browse in-depth TOC on "Hydraulic Cylinder Market"

Tables – 66

Figures – 55

Pages- 154

APAC held largest share of hydraulic cylinder market in 2016 

APAC is the largest and fastest-growing market for hydraulic cylinders. APAC accounted for a share of ~32% of the global hydraulic cylinder market in 2016. The market in this region is expected to grow at the highest CAGR of 6.30% between 2017 and 2023. This growth is mainly attributed to the growing adoption of hydraulic cylinders across manufacturing industries. The increasing popularity of hydraulic cylinders owing to their superior results encourages more companies in APAC to install these cylinders in automated equipment. Some of the key players in the hydraulic cylinder market in APAC are Wipro (India), Apex Hydraulics (India), EZY-FIT Hydraulics. (Australia), and Yuci Hydraulics (China).

Speak to Analyst:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=252743122

The major players in the hydraulic cylinder market are Caterpillar (US), Parker Hannifin (US), Actuant (US), Eaton (Ireland), Jiangsu Hengli Hydraulic (China), Robert Bosch (Germany), and Wipro (India).

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Construction Industry to Hold Largest Share of Hydraulic Cylinder Market between 2017 And 2023

The hydraulic cylinder market is expected to be valued at USD 13.64 Billion in 2017 and is projected to reach USD 19.30 Billion by 2023, at a CAGR of 5.95% between 2017 and 2023. The key factor driving the growth of this market is their rising demand in the construction industry and mining process equipment. Increasing demand for lifting equipment in the shipping industry and for material handling equipment in the aerospace & defense industry is the key opportunity for the players in the hydraulic cylinder market.

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The growth in new and retrofit infrastructure after the recession has boosted the construction industry heavily. With new development plans and projects, the use of construction equipment is also growing. In the construction industry, hydraulic cylinders are used in equipment such as backhoes, excavators, trenchers, road construction planers, grinder and concrete or asphalt laying machines, concrete cutting saws, dozers, motor graders, dumpers, and skid steers. The hydraulic cylinder is capable of withstanding corrosive and abrasive environments, and extreme temperature and weather changes. Also, it can be used continuously for long periods. These advantages offered by hydraulic cylinders have increased their demand in the construction industry.

The objective of the report is to provide a detailed analysis of the hydraulic cylinder market based on function, specification, application, bore size, industry, and geography. The report provides detailed information regarding the major factors influencing the growth of the market. The report also gives a detailed overview of the value chain in the hydraulic cylinder market and analyzes the market trends.

Double-acting hydraulic cylinders held the largest market share in 2016. Owing to the retraction property of double-acting hydraulic cylinders, they are used in aerospace, automotive, agriculture, and several other industries. The applications of hydraulic cylinders in agriculture include tractors for softride suspension, harvesters such as combine harvesters, self-propelled forage harvesters and header harvesters, telescopic loaders, hydraulic reversible plows, wool presses, seed drills, tillage bars, spraying equipment, slashers and mowers, cotton module builders, skid steer loaders, backhoe loaders, telehandlers, and front-end loaders.

The construction industry led the hydraulic cylinder market in 2016. The global construction industry has undergone substantial changes in recent years due to the global recession, which has led to the downsizing of the construction sector in developed markets. However, the construction investments in most emerging markets have continued to grow at a moderate rate despite the global crisis. China, India, and the US will witness major growth in the global construction industry. Earthmoving equipment is mainly used for construction projects such as digging the earth, lifting, loading and unloading weight, and leveling. The applications of hydraulic cylinders in earthmoving equipment include hitches, excavators, skid steer loaders, backhoes, wheel loaders, motor graders, dumper trucks, dozers, trenchers, road rollers, and other types of equipment used for heavy loading, high cycle rating, and accurate movement.

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APAC held the largest size of the hydraulic cylinder market in 2016. APAC is the most rapidly growing market and offers a huge opportunity for agricultural equipment manufacturers owing to the enormous development in the farm machinery segment. This is driven by the increased demand for the mechanization of farms to address the needs of the growing population. Governments provide support to developing economies to increase the productivity in the agriculture sector through the automation of farming methods. India and China are the major markets for hydraulic cylinders in APAC. The growth of the market in India is driven by the presence of well-established players such as Wipro. Moreover, the rapid development in industries such as construction, agriculture, infrastructure, steel, cement, and mining further drives the market for hydraulic cylinders in India.

The major restraint for the hydraulic cylinder market is increasing oil leakage from hydraulic cylinders. Hydraulic oil leakage in industrial applications ends up in groundwater, rivers, lakes, and the soil, causing damage to the environment, fish, and wildlife. Hydraulic leakage from industries such as marine, forestry, mining, and agriculture is mainly responsible for damaging the environment, which also results in high cleanup cost.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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Driving the Growth of Hydraulic Cylinder Market 2023 - Rising Demand in the Construction, Shipping, Aerospace & Defense Industries

According to the new market research report "Hydraulic Cylinder Market by Function (Single Acting, Double Acting), Specification (Telescopic, Tie Rod, Mill Type, Welded), Application (Mobile and Industrial), Bore size, Industry, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to be valued at USD 13.64 Billion in 2017 and is projected to reach USD 19.30 Billion by 2023, at a CAGR of 5.95% between 2017 and 2023. 

The key factor driving the growth of the hydraulic cylinder market is their rising demand in the construction industry and mining process equipment. Increasing demand for lifting equipment in the shipping industry and for material handling equipment in the aerospace & defense industry is the key opportunity for the players in the hydraulic cylinder market.

Download PDF Brochure:

http://www.marketsandmarkets.com/pdfdownload.asp?id=252743122

Double-acting hydraulic cylinders to hold largest share of market between 2017 and 2023 

Double-acting hydraulic cylinders are suitable in presses and chippers for opening and closing drawers and for all types of raising and lowering devices. Unlike single-acting, double-acting cylinders have 2 ports i.e., cap end port and rod end port enabling them to operate hydraulically in forward as well as backward direction. Companies involved in the development of double-acting hydraulic cylinders include Hirotaka (Japan), Nordon Cylinders (Australia), SSH Stainless (Denmark), and Helipebs Controls (UK), among others.

Construction industry to hold largest share of hydraulic cylinder market between 2017 and 2023 

Excavators, telehandlers, compactors, backhoe loaders, concrete and cement machines, drilling rigs, wheel loaders, loading shovels, dumper trucks, and quick hitches are deployed with heavy-duty hydraulic cylinders. These machines extensively use hydraulic cylinders for a wide range of specific purposes owing to their strength, performance, and reliability. Hydraulic cylinder providers operating in the construction industry include JARP Industries (US), Oscar Equipment (India), AH Garner (UK), and Actuant (US).

APAC held largest share of hydraulic cylinder market in 2016 

APAC is the largest and fastest-growing market for hydraulic cylinders. APAC accounted for a share of ~32% of the global hydraulic cylinder market in 2016. The market in this region is expected to grow at the highest CAGR of 6.30% between 2017 and 2023. This growth is mainly attributed to the growing adoption of hydraulic cylinders across manufacturing industries. The increasing popularity of hydraulic cylinders owing to their superior results encourages more companies in APAC to install these cylinders in automated equipment. Some of the key players in the hydraulic cylinder market in APAC are Wipro (India), Apex Hydraulics (India), EZY-FIT Hydraulics. (Australia), and Yuci Hydraulics (China).

Speak to Analyst:

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The major players in the hydraulic cylinder market are Caterpillar (US), Parker Hannifin (US), Actuant (US), Eaton (Ireland), Jiangsu Hengli Hydraulic (China), Robert Bosch (Germany), and Wipro (India).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

newsletter@marketsandmarkets.com