Hydraulic Cylinder Market
PUBLISHED: 2024 ID: SMRC26178
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Hydraulic Cylinder Market

Hydraulic Cylinder Market Forecasts to 2030 - Global Analysis By Product (Threaded Cylinders, Bolted/ Mill Type Cylinders and Other Products), Bore Size (<50 mm, 51 - 100 mm and Above 300 mm), Operating Principle, Application, End User and By Geography

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Published: 2024 ID: SMRC26178

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Hydraulic Cylinder Market is accounted for $16.19 billion in 2023 and is expected to reach $24.99 billion by 2030 growing at a CAGR of 6.4% during the forecast period. Hydraulic cylinders are mechanical actuators that provide power through pressurized hydraulic fluid to generate linear motion and force. They find extensive applications across various industries, including construction, agriculture, aerospace, automotive, and manufacturing. The market is driven by the increasing demand for heavy machinery and equipment globally, coupled with the growing automation trends in industries. And the rise in infrastructure projects and the expansion of manufacturing facilities in emerging economies further contribute to the market's growth.

According to a joint study by Oxford Economics and Global Construction Perspective (GCP), the construction industry is projected to reach $15.5 trillion by 2030. According to the European government, the estimated overall investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) is anticipated to reach approximately 27 trillion yuan ($4.2 trillion).

Market Dynamics: 

Driver: 

Demand for construction equipment

The demand for construction equipment is a primary driver of the hydraulic cylinder market due to its integral role in heavy machinery used in construction projects. Hydraulic cylinders are crucial components in various construction equipments like excavators, bulldozers, and cranes, providing the force needed for lifting, pushing, and pulling heavy loads. As infrastructure development and urbanization continue globally, the demand for construction machinery rises, consequently increasing the need for hydraulic cylinders. 

Restraint:

Maintenance costs

Hydraulic cylinders, being crucial components in various industrial applications, require regular maintenance to ensure optimal performance and longevity. However, the costs associated with maintenance, including routine inspections, repairs, and replacements of worn-out parts, can add up significantly over time. This aspect can deter potential buyers or lead them to explore alternative solutions with lower maintenance requirements, impacting the demand for hydraulic cylinders. Moreover, unexpected breakdowns or failures due to insufficient maintenance can result in downtime and additional expenses for businesses, further highlighting the importance of managing maintenance costs effectively in this market.

Opportunity:

Mining and extraction

The hydraulic cylinder market presents a significant opportunity for the mining and extraction industries. These industries heavily rely on hydraulic cylinders for various applications, such as lifting, pushing, and pulling heavy loads. In mining, hydraulic cylinders are crucial components in equipment like excavators, loaders, and haul trucks. Their robust construction and high-pressure capabilities make them indispensable for handling the demanding conditions of mining operations. Furthermore, as mining and extraction activities continue to expand globally, the demand for hydraulic cylinders is expected to rise correspondingly, offering a lucrative market for manufacturers and suppliers in this sector.

Threat:

Competition from alternative technologies

The hydraulic cylinder market faces a significant threat from alternative technologies. Innovations such as electromechanical actuators and pneumatic systems offer competing solutions that challenge the dominance of hydraulic cylinders. Electromechanical actuators, for instance, boast precision, efficiency, and environmental advantages over traditional hydraulic systems. Pneumatic systems, on the other hand, offer simplicity and cost-effectiveness in certain applications. These alternatives pose a threat by providing comparable or superior performance while addressing concerns such as energy efficiency and environmental impact, prompting the hydraulic cylinder market to adapt and innovate to maintain its competitive edge.

Covid-19 Impact: 

The COVID-19 pandemic has significantly impacted the hydraulic cylinder market. Disruptions in global supply chains, reduced manufacturing activities, and logistical challenges have slowed down the production and distribution of hydraulic cylinders. Many industries that heavily rely on hydraulic systems, such as construction, mining, and agriculture, faced temporary shutdowns or decreased operations, leading to a decline in demand for hydraulic cylinders. However, as economies gradually recover and industries resume operations, there is a growing need for infrastructure development and industrial automation, which is expected to drive the demand for hydraulic cylinders in the post-pandemic period. 

The welded cylinders segment is expected to be the largest during the forecast period

The growth in the welded cylinder segment of the hydraulic cylinder market can be attributed to several factors. Welded cylinders offer enhanced structural integrity and durability compared to other types, making them ideal for heavy-duty applications in industries such as construction, agriculture, and mining. Advancements in welding technologies have led to increased efficiency and cost-effectiveness in manufacturing welded cylinders, driving their adoption. Additionally, the growing demand for custom hydraulic solutions tailored to specific industrial requirements has boosted the popularity of welded cylinders, as they can be easily customized. 

The industrial equipments segment is expected to have the highest CAGR during the forecast period

The industrial equipment segment has witnessed robust growth due to increasing industrialization across various sectors that has led to higher demand for machinery and equipment, consequently driving the need for hydraulic cylinders. Rising automation and mechanization in manufacturing processes has necessitated reliable hydraulic systems, boosting the adoption of hydraulic cylinders in industrial machinery. Furthermore, industries such as construction, agriculture, and mining are experiencing steady growth, driving the demand for heavy-duty hydraulic cylinders in equipment like excavators and loaders.

Region with largest share:

In recent years, the North American region has witnessed significant growth in the hydraulic cylinder market. This growth can be attributed to several factors, including the expansion of industries such as construction, agriculture, and automotive, which are major consumers of hydraulic cylinders. The increasing adoption of advanced technologies and automation in manufacturing processes has boosted the demand for hydraulic systems. Moreover, government initiatives aimed at infrastructure development and renewable energy projects have also contributed to the expansion of the hydraulic cylinder market in North America. Additionally, favourable economic conditions, coupled with technological advancements and supportive government policies, have fueled the growth of the hydraulic cylinder market in the region.

Region with highest CAGR:

The Asia-Pacific region has witnessed significant growth in the hydraulic cylinder market in recent years. This expansion can be attributed to several factors, including rapid industrialization, infrastructural development projects, and increasing investments in manufacturing sectors across countries like China, India, and Japan. Additionally, technological advancements and the adoption of automation in various industries have further propelled the demand for hydraulic systems, contributing to the market's expansion in the Asia-Pacific region. With favorable economic conditions and a burgeoning manufacturing landscape, the region is poised to continue experiencing robust growth in the hydraulic cylinder market.

Key players in the market

Some of the key players in Hydraulic Cylinder market include Best Metal Products, Bosch Rexroth, Caterpillar, Eaton, Enerpac Tool Group, Hydac, Hydrosila, Jiangsu Hengli Hydraulic, KYB Corporation, Norrhydro Oy., Parker-Hannifin Corporation, SMC Corporation, Standex International, Weber-Hydraulik Gmbh and Wipro Infrastructure Engineering.  

Key Developments:

In May 2024, Parker Hannifin, a global leader in motion and control technologies, has enhanced its standalone and multi-axis Parker servo drives (PSD) offering with a new I/O option board. This versatile option card, accommodating one or two cards per drive, introduces an array of technical features that improve the adaptability and performance of the complete PSD family. From motion control for axis interpolation to adapting different setpoint sources, such as speed or current commands, the optional I/O card addresses a variety of applications. It also supports encoder simulation, step and direction input.

In April 2024, Wipro Infrastructure Engineering (WIN) is looking to harness the power of artificial intelligence (AI) and the government’s focus on manufacturing to fuel its $1 billion growth plans. The company aims to accelerate its automation business and has already seen early success with data analytics after acquiring Linecraft.ai. This acquisition has enabled WIN’s customers to increase efficiencies by 7%-15%, according to Pratik Kumar, Managing Director and CEO of Wipro Enterprises.

Products Covered:
• Threaded Cylinders 
• Bolted/ Mill Type Cylinders 
• Tie-Rod Cylinders 
• Welded Cylinders 
• Telescopic Cylinders 
• Other Products  

Bore Sizes Covered:
• <50 mm 
• 51 - 100 mm 
• 101 - 150 mm 
• 151 - 300 mm 
• Above 300 mm 

Operating Principles Covered:
• Double Acting  
• Single Acting  
• Telescopic Hydraulic  
• Tandem Hydraulic   

Applications Covered:
• Mobile Equipments 
• Industrial Equipments 
• Other Applications 

End Users Covered:
• Material Handling 
• Mining 
• Marine 
• Construction 
• Oil & Gas 
• Automotive 
• Agriculture 
• Aerospace 
• Other End Users   

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary         
          
2 Preface         
 2.1 Abstract        
 2.2 Stake Holders        
 2.3 Research Scope        
 2.4 Research Methodology        
  2.4.1 Data Mining       
  2.4.2 Data Analysis       
  2.4.3 Data Validation       
  2.4.4 Research Approach       
 2.5 Research Sources        
  2.5.1 Primary Research Sources       
  2.5.2 Secondary Research Sources       
  2.5.3 Assumptions       
          
3 Market Trend Analysis         
 3.1 Introduction        
 3.2 Drivers        
 3.3 Restraints        
 3.4 Opportunities        
 3.5 Threats        
 3.6 Product Analysis        
 3.7 Application Analysis        
 3.8 End User Analysis        
 3.9 Emerging Markets        
 3.10 Impact of Covid-19        
          
4 Porters Five Force Analysis         
 4.1 Bargaining power of suppliers        
 4.2 Bargaining power of buyers        
 4.3 Threat of substitutes        
 4.4 Threat of new entrants        
 4.5 Competitive rivalry        
          
5 Global Hydraulic Cylinder Market, By Product         
 5.1 Introduction        
 5.2 Threaded Cylinders        
 5.3 Bolted/ Mill Type Cylinders        
 5.4 Tie-Rod Cylinders        
 5.5 Welded Cylinders        
 5.6 Telescopic Cylinders        
 5.7 Other Products        
          
6 Global Hydraulic Cylinder Market, By Bore Size         
 6.1 Introduction        
 6.2 <50 mm        
 6.3 51 - 100 mm        
 6.4 101 - 150 mm        
 6.5 151 - 300 mm        
 6.6 Above 300 mm        
          
7 Global Hydraulic Cylinder Market, By Operating Principle         
 7.1 Introduction        
 7.2 Double Acting        
 7.3 Single Acting        
 7.4 Telescopic Hydraulic        
 7.5 Tandem Hydraulic        
          
8 Global Hydraulic Cylinder Market, By Application         
 8.1 Introduction        
 8.2 Mobile Equipments        
  8.2.1 Mining & Material Handling Equipments       
  8.2.2 Agricultural & Forestry Vehicles       
  8.2.3 Construction Equipments       
  8.2.4 Other Mobile Equipments       
 8.3 Industrial Equipments        
  8.3.1 Loading Docks       
  8.3.2 Lifts & Aerial Work Platform       
  8.3.3 Rams & Presses       
  8.3.4 Oil & Gas and Offshore Applications       
  8.3.5 Injection Molding Machines       
  8.3.6 Other Industrial Equipments       
 8.4 Other Applications        
          
9 Global Hydraulic Cylinder Market, By End User         
 9.1 Introduction        
 9.2 Material Handling        
 9.3 Mining        
 9.4 Marine        
 9.5 Construction        
 9.6 Oil & Gas        
 9.7 Automotive        
 9.8 Agriculture        
 9.9 Aerospace        
 9.10 Other End Users        
          
10 Global Hydraulic Cylinder Market, By Geography         
 10.1 Introduction        
 10.2 North America        
  10.2.1 US       
  10.2.2 Canada       
  10.2.3 Mexico       
 10.3 Europe        
  10.3.1 Germany       
  10.3.2 UK       
  10.3.3 Italy       
  10.3.4 France       
  10.3.5 Spain       
  10.3.6 Rest of Europe       
 10.4 Asia Pacific        
  10.4.1 Japan       
  10.4.2 China       
  10.4.3 India       
  10.4.4 Australia       
  10.4.5 New Zealand       
  10.4.6 South Korea       
  10.4.7 Rest of Asia Pacific       
 10.5 South America        
  10.5.1 Argentina       
  10.5.2 Brazil       
  10.5.3 Chile       
  10.5.4 Rest of South America       
 10.6 Middle East & Africa        
  10.6.1 Saudi Arabia       
  10.6.2 UAE       
  10.6.3 Qatar       
  10.6.4 South Africa       
  10.6.5 Rest of Middle East & Africa       
          
11 Key Developments         
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures        
 11.2 Acquisitions & Mergers        
 11.3 New Product Launch        
 11.4 Expansions        
 11.5 Other Key Strategies        
          
12 Company Profiling         
 12.1 Best Metal Products        
 12.2 Bosch Rexroth        
 12.3 Caterpillar        
 12.4 Eaton        
 12.5 Enerpac Tool Group        
 12.6 Hydac        
 12.7 Hydrosila        
 12.8 Jiangsu Hengli Hydraulic        
 12.9 KYB Corporation        
 12.10 Norrhydro Oy.        
 12.11 Parker-Hannifin Corporation        
 12.12 SMC Corporation        
 12.13 Standex International        
 12.14 Weber-Hydraulik Gmbh        
 12.15 Wipro Infrastructure Engineering        
          
List of Tables          
1 Global Hydraulic Cylinder Market Outlook, By Region (2021-2030) ($MN)         
2 Global Hydraulic Cylinder Market Outlook, By Product  (2021-2030) ($MN)         
3 Global Hydraulic Cylinder Market Outlook, By Threaded Cylinders (2021-2030) ($MN)         
4 Global Hydraulic Cylinder Market Outlook, By Bolted/ Mill Type Cylinders (2021-2030) ($MN)         
5 Global Hydraulic Cylinder Market Outlook, By Tie-Rod Cylinders (2021-2030) ($MN)         
6 Global Hydraulic Cylinder Market Outlook, By Welded Cylinders (2021-2030) ($MN)         
7 Global Hydraulic Cylinder Market Outlook, By Telescopic Cylinders (2021-2030) ($MN)         
8 Global Hydraulic Cylinder Market Outlook, By Other Products (2021-2030) ($MN)         
9 Global Hydraulic Cylinder Market Outlook, By Bore Size (2021-2030) ($MN)         
10 Global Hydraulic Cylinder Market Outlook, By <50 mm (2021-2030) ($MN)         
11 Global Hydraulic Cylinder Market Outlook, By 51 - 100 mm (2021-2030) ($MN)         
12 Global Hydraulic Cylinder Market Outlook, By 101 - 150 mm (2021-2030) ($MN)         
13 Global Hydraulic Cylinder Market Outlook, By 151 - 300 mm (2021-2030) ($MN)         
14 Global Hydraulic Cylinder Market Outlook, By Above 300 mm (2021-2030) ($MN)         
15 Global Hydraulic Cylinder Market Outlook, By Operating Principle (2021-2030) ($MN)         
16 Global Hydraulic Cylinder Market Outlook, By Double Acting (2021-2030) ($MN)         
17 Global Hydraulic Cylinder Market Outlook, By Single Acting (2021-2030) ($MN)         
18 Global Hydraulic Cylinder Market Outlook, By Telescopic Hydraulic (2021-2030) ($MN)         
19 Global Hydraulic Cylinder Market Outlook, By Tandem Hydraulic (2021-2030) ($MN)         
20 Global Hydraulic Cylinder Market Outlook, By Application (2021-2030) ($MN)         
21 Global Hydraulic Cylinder Market Outlook, By Mobile Equipments (2021-2030) ($MN)         
22 Global Hydraulic Cylinder Market Outlook, By Mining & Material Handling Equipments (2021-2030) ($MN)         
23 Global Hydraulic Cylinder Market Outlook, By Agricultural & Forestry Vehicles (2021-2030) ($MN)         
24 Global Hydraulic Cylinder Market Outlook, By Construction Equipments (2021-2030) ($MN)         
25 Global Hydraulic Cylinder Market Outlook, By Other Mobile Equipments (2021-2030) ($MN)         
26 Global Hydraulic Cylinder Market Outlook, By Industrial Equipments (2021-2030) ($MN)         
27 Global Hydraulic Cylinder Market Outlook, By Loading Docks (2021-2030) ($MN)         
28 Global Hydraulic Cylinder Market Outlook, By Lifts & Aerial Work Platform (2021-2030) ($MN)         
29 Global Hydraulic Cylinder Market Outlook, By Rams & Presses (2021-2030) ($MN)         
30 Global Hydraulic Cylinder Market Outlook, By Oil & Gas and Offshore Applications (2021-2030) ($MN)         
31 Global Hydraulic Cylinder Market Outlook, By Injection Molding Machines (2021-2030) ($MN)         
32 Global Hydraulic Cylinder Market Outlook, By Other Industrial Equipments (2021-2030) ($MN)         
33 Global Hydraulic Cylinder Market Outlook, By Other Applications (2021-2030) ($MN)         
34 Global Hydraulic Cylinder Market Outlook, By End User (2021-2030) ($MN)         
35 Global Hydraulic Cylinder Market Outlook, By Material Handling (2021-2030) ($MN)         
36 Global Hydraulic Cylinder Market Outlook, By Mining (2021-2030) ($MN)         
37 Global Hydraulic Cylinder Market Outlook, By Marine (2021-2030) ($MN)         
38 Global Hydraulic Cylinder Market Outlook, By Construction (2021-2030) ($MN)         
39 Global Hydraulic Cylinder Market Outlook, By Oil & Gas (2021-2030) ($MN)         
40 Global Hydraulic Cylinder Market Outlook, By Automotive (2021-2030) ($MN)         
41 Global Hydraulic Cylinder Market Outlook, By Agriculture (2021-2030) ($MN)         
42 Global Hydraulic Cylinder Market Outlook, By Aerospace (2021-2030) ($MN)         
43 Global Hydraulic Cylinder Market Outlook, By Other End Users (2021-2030) ($MN)         
          
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.          

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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