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
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