Pune, Aug. 10, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report indicates that the Hydraulic Cylinder Market had a value of USD 15.12 billion in 2022. It is projected to reach USD 20.91 billion by 2030, experiencing a compound annual growth rate (CAGR) of 4.14% during the forecast period from 2023 to 2030.”
Market Overview
Hydraulic cylinders are renowned for their robustness, reliability, and ability to generate significant force, making them indispensable in heavy-duty applications. Whether in construction equipment for earth-moving tasks, manufacturing machinery for precision operations, or even in aircraft for various control systems, hydraulic cylinders enable efficient, controlled, and repeatable motion. The fundamental principle behind a hydraulic cylinder lies in its ability to utilize the pressure exerted by an incompressible fluid, typically hydraulic oil.
Market Analysis
The hydraulic cylinder market is poised for significant growth in the coming years, driven by a confluence of factors that are shaping various industries' demands for efficient and robust hydraulic systems. From construction and manufacturing to agriculture and aerospace, hydraulic cylinders play a pivotal role in powering diverse machinery and equipment. With the pursuit of increased efficiency, accuracy, and productivity, industries are turning to hydraulic solutions for tasks that require precise force, control, and motion. The energy sector relies on hydraulic systems for various applications, including the operation of hydroelectric power plants, wind turbines, and oil drilling equipment. As the world continues to shift towards renewable energy sources, the demand for hydraulic cylinders used in these applications is expected to grow.
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Major Players Included in this Report Are:
- Actuant Corporation
- Caterpillar Inc.
- Eaton Corporation Plc
- JARP Industries Inc.
- Hengli Hydraulic
- Kawasaki Heavy Industries Limited
- Parker Hannifin Corporation
- Robert Bosch GmbH (Bosch Rexroth AG)
- Texas Hydraulics Inc.
- Wipro Limited. & Other Players
Impact of Recession on Hydraulic Cylinder Market Growth
The hydraulic cylinder market, intricately linked to various industries, is undeniably influenced by economic recessions. Reduced demand, delayed investments, and supply chain disruptions collectively contribute to a challenging landscape for manufacturers and suppliers. However, these downturns can also drive innovation, diversification, and adaptation to emerging markets, ultimately preparing the industry for recovery once economic conditions improve.
Hydraulic Cylinder Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 15.12 Billion |
| Market Size by 2030 | US$ 20.91 Billion |
| CAGR | CAGR of 4.14% From 2022 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Hydraulic Cylinder Market: Key Segmentation |
|
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Get an Excel-Data Sheet of Hydraulic Cylinder Market with Detailed Analysis (Sheet Included Market Size & Share of Regions, Countries, and Continents Data) | Get Excel-Data Sheet |
Impact of the Russia-Ukraine War
The Russia-Ukraine war's impact on the hydraulic cylinder market is multi-faceted, ranging from disrupted supply chains and geopolitical uncertainty to potential innovation and market diversification. The industry's ability to adapt to these challenges and seize emerging opportunities will determine its resilience and growth in the face of geopolitical upheavals.
Key Regional Developments
In North America, the hydraulic cylinder market is propelled by several factors. The region's robust industrial infrastructure, particularly in the United States, contributes to the demand for hydraulic cylinders in various applications such as manufacturing, construction, and aerospace. The Asia-Pacific region stands as a powerhouse in the global market. Rapid industrialization in countries like China and India has led to substantial investments in infrastructure and construction projects.
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Key Takeaway from Hydraulic Cylinder Market Study
- The Tandem Hydraulic Cylinder segment stands as a testament to the pursuit of enhanced precision and force distribution in hydraulic systems. The technology's ability to distribute forces evenly, thereby preventing overloading and reducing wear and tear, has made it a compelling solution across various applications.
- The Metal Extraction segment is revolutionizing resource recovery processes across the globe. Leveraging hydraulic power, this segment is redefining how valuable metals are extracted from ores and electronic waste, bringing economic, environmental, and technological benefits to the forefront.
Recent Developments Related to the Hydraulic Cylinder Market
- Miller Industries, a leading name in the towing and recovery equipment industry, has made a significant stride forward with its recent announcement of the successful acquisition of Southern Hydraulic Cylinder.
- EBSCO Capital, a prominent player in the realm of strategic investments, has made a resounding mark in the business landscape with its recent announcement of the acquisition of Hydrolico, a pioneering company in the hydraulic systems and solutions industry.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Hydraulic Cylinder Market Segmentation, By Specification
9. Hydraulic Cylinder Market Segmentation, By Function
10. Hydraulic Cylinder Market Segmentation, By Bore Size
11. Hydraulic Cylinder Market Segmentation, By Application
12. Hydraulic Cylinder Market Segmentation, By Industry Vertical
13. Hydraulic Cylinder Market, by Region/Country
14. Company profiles
15. Competitive Landscape
16. Use Cases & Best Practices
17. Conclusion
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