Hydraulic Cylinder Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Hydraulic Cylinder Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Hydraulic cylinder is an actuation device powered by hydrostatic power which is designed to create force in a straight line. It is used in numerous applications including manufacturing machinery, construction machinery, civil engineering, marine equipment, agriculture machines, and others. Moreover, hydraulic cylinders are considered to be the most effective and efficient mechanical device for pulling, pushing, lifting, and lowering. With the expansion of construction industry across the globe, hydraulic cylinder has been generating increasing demand as it can provide high power to machines in even the furthest locations away from the power generation source. Such cylinder not only operates well in extreme environments but also has automatic overload protection, variable speed control, and positioning benefits. In addition to these advantages, a surge in infrastructural development and growing demand for advanced equipment and machinery have led to the establishment of global hydraulic cylinder market.
Hydraulic Cylinder Market – Notable Developments
- In April 2019, Pennar Industries Limited (PIL) announced to scale up its hydraulic cylinder production to 200,000 units per annum (pa) from its current capacity of 75,000 cylinder pa. The company is constructing a new plant that will be equipped to produce 15,000 cylinders pa with the possibility of expanding up to 200,000 units as the demand continues to surge.
- In March 2019, Parker Hannifin Corporation, a key player in the hydraulic cylinder market announced the introduction of its Electro-Hydraulic Pump System (EHPS), applicable for high power lifting in mining, material handling, and construction markets. In February 2019, the company’s Cylinder Division released U160S / U100S, an updated version of Taiyo America compact hydraulic cylinder, replacing the old series U160S-1 / U100S-1.
- In January 2019, Hydroline OY announced the launch of LEO (Lifecycle Efficiency Online), the latest R&D on predictive maintenance technology for hydraulic cylinders. It uses a proprietary algorithm to evaluate lifecycle data coming from the working environment of the hydraulic cylinder, obtained by strategically positioned built-in-sensors.
- In January 2019, Bosch Rexroth AG released ‘eGFT8000 series’, a range of compact drive for high-mileage vehicles. It enables mobile working machines to high-speed electric motor instead of a hydraulic motor. Further, the combination of electric motor and compact drive results into a space-saving drive unit.
- In August 2018, Caterpillar announced the launch of Cat® CG132B-16 generator set, rated for continuous power at 1 MW for 50 Hz in natural gas applications. It also offers outstanding cost-performance and optimized lube oil management with high power density. With the lower investment costs, the new set will enable customers to experience relatively fast payback periods.
Some of the most prominent competitors operating in the competitive landscape of global hydraulic cylinder market include –
- Actuant Corporation
- Best Metal Products
- Jarp Industries
- Pacoma GmbH
- SMC Corporation
- HYDAC
- Eaton Corporation Plc
- Liebherr Group
- Texas Hydraulics
- WEBER-HYDRAULIK GmbH
- Wipro Enterprises Limited
- Jiangsu Hengli Hydraulic Co., Ltd
Hydraulic Cylinder Market Dynamics
Robust Infrastructural Development to Promote Hydraulic Cylinder Market Growth
Increasing demand for efficient construction and mining activities along with rapid penetration of new technologies has been pushing the need for material handling equipment, which in turn influence the growth of hydraulic cylinder market. With rapid urbanization and industrialization, especially in developing nations, governments are heavily investing in the infrastructural development of various sector. In addition, growing need for efficient agriculture machinery to meet the productivity target is likely to complement the revenue maximization of hydraulic cylinder market. Further, continuous product innovation and new launches through implementation of improved technologies will continue to create lucrative growth prospects of the key manufacturers.
Hydraulic Cylinder Market to Witness Significant Growth in Asia Pacific
Asia Pacific is expected to be one of the most rapidly growing markets for hydraulic cylinder, on the back of robust development in material handling equipment and farm machinery. Growing mechanization of agricultural farms to meet the demand for ever-increasing population in the region also remains a key growth driving factor of hydraulic cylinder market. Further, presence of well-established players in the region along with significant development in numerous industries such as agriculture, construction, mining, steel, and others will further augment the expansion of hydraulic market in Asia Pacific.
Hydraulic Cylinder Market Segmentation
Based on specification, the hydraulic cylinder market can be segmented into:
- Tie-rod
- Welded
- Threaded
- Mill Type/Bolted
- Telescopic
- Others
Based on function, the hydraulic cylinder market can be segmented into:
- Single Acting
- Double Acting
Based on bore size, the hydraulic cylinder market can be segmented into:
- <50 mm
- 50–150 mm
- 151-300 mm
- >300 mm
Based on application, the hydraulic cylinder market can be segmented into:
- Mobile Equipment
- Industrial Equipment
Based on end-use industry, the hydraulic cylinder market can be segmented into:
- Construction
- Mining
- Material Handling
- Automotive
- Aerospace & Defense
- Marine
- Agriculture
- Oil & Gas
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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