New York , Nov. 01, 2023 (GLOBE NEWSWIRE) -- The global hydraulic cylinder market size is poised to grow at a CAGR of over 5% from 2023 to 2035. The market is anticipated to garner a revenue of USD 26 billion by the end of 2035, up from a revenue of USD 14 billion in the year 2022. The industrial automation trend, aimed at improving production efficiency, has driven the demand for hydraulic cylinders in manufacturing and assembly lines. Growing demand for customized and automated machinery has led to increased usage of hydraulic cylinders in various applications.
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Infrastructure development projects, including construction of bridges, roads, and buildings, have fueled the demand for hydraulic cylinders in heavy construction equipment like excavators, loaders, and cranes. Expansion of the construction industry in emerging markets has provided opportunities for hydraulic cylinder manufacturers. The agriculture sector has witnessed an increased use of hydraulic cylinders in farm equipment, such as tractors and harvesters, for tasks like lifting, tilting, and steering. Industrial automation, aimed at enhancing production efficiency, is a primary driver of the market. These devices are vital components in automated machinery and assembly lines. The global industrial automation sales are projected to reach nearly USD 326 billion by the year 2026.
Hydraulic Cylinder Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- The double-acting segment to garner the highest growth
- Market in North America to grow at a highest rate
Increasing Shift towards Urbanization across the Globe to Boost Market Growth
The hydraulic cylinder market is expanding more quickly due to the rapid urbanization occurring in developing nations like China, India, Indonesia, and other nations. The industry is expanding as a result of new infrastructure plans and advances in nations like China and India. About 65.2% of Chinese citizens were urban dwellers in 2022. In China, the rate of urbanization has been rising consistently over several decades. Due to the growth in construction activities in various regions the market is growing at a rapid rate. China is one of the largest countries with a vast construction industry. Also, the increasing implementation of autonomous construction equipment has also propelled market growth. The market will be driven by the increasing use of steam and ongoing efforts to deploy energy-efficient equipment across various industries. It is anticipated that demand will exceed further in areas where the working fluid acts alternately on both sides of the piston, such as forklifts, heavy trucks, and earth-moving equipment. Robust infrastructure development projects globally, such as bridges, roads, and buildings, propel the demand for hydraulic cylinders in heavy construction equipment, including excavators, loaders, and cranes.
Hydraulic Cylinder Industry: Regional Overview
The global hydraulic cylinder market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Infrastructure Development and Construction Boom to Drive the Market Growth in Asia Pacific Region
The market in Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The rapid expansion of industrial sectors in Asia Pacific fuels the demand for hydraulic cylinders, which are essential components in industrial automation and manufacturing processes. Booming infrastructure projects, including transportation, urban development, and energy, drive the need for hydraulic cylinders in heavy construction equipment. The Asia Pacific construction equipment sales are projected to reach USD 118.58 billion by the year 2026. The agriculture sector in Asia Pacific increasingly employs hydraulic cylinders in farm machinery, promoting precision farming and enhancing productivity. Hydraulic cylinders are indispensable in mining machinery, contributing to excavation, transportation, and material handling in resource-rich regions. Asia Pacific's expanding energy sector relies on hydraulic cylinders in diverse applications, including wind turbines, hydraulic fracturing, and offshore oil and gas platforms. Ongoing technological advancements in hydraulic cylinder design, such as lightweight materials and energy-efficient features, are expanding their applications across various industries.
Government Initiatives and Environmental Regulations to Propel the Growth in the North America Region
The North America market is estimated to garner the highest CAGR by the end of 2035. North America region's hydraulic cylinder market is experiencing robust growth, primarily driven by the expansion of industries, infrastructure development, agricultural advancements, and the energy sector's growth. As North America continues to prioritize automation, sustainability, and technological innovation, the outlook for the hydraulic cylinder market remains promising. Manufacturers and businesses engaged in hydraulic cylinder production and distribution are well-positioned to capitalize on the sustained demand for these essential components, vital for powering industrial and economic growth in North America. Government initiatives and environmental regulations have accelerated the development and adoption of energy-efficient hydraulic systems, further boosting the hydraulic cylinder market. The emphasis on industrial automation, aimed at enhancing production efficiency, has significantly contributed to the demand for hydraulic cylinders, which are integral to automated machinery and assembly processes. Robust infrastructure development projects in North America, including transportation, urban development, and energy infrastructure, have led to a surge in the use of hydraulic cylinders in heavy construction equipment. The North America construction equipment industry is anticipated to reach USD 30 billion by 2025.
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Hydraulic Cylinder Segmentation by Function
- Double Acting
- Single Acting
Amongst these segments, the double-acting segment is anticipated to hold the largest share over the forecast period. Double-acting hydraulic cylinders are prized for their versatility in various industrial applications. They are used in equipment such as presses, material handling systems, and hydraulic presses, fueling their demand in manufacturing and industrial settings. In the construction and heavy machinery sector, double-acting hydraulic cylinders are integral components in equipment like excavators, loaders, and bulldozers, where their reliable performance is crucial for tasks such as digging, lifting, and pushing. Double-acting cylinders provide precise control over movements, making them essential for manufacturing processes where accuracy is paramount. They are used in metal forming, welding, and injection molding machines. The global injection molding machine market is expected to reach nearly USD 16 billion by the year 2027. Ongoing advancements in hydraulic technology, including materials, seals, and control systems, have enhanced the efficiency and performance of double-acting hydraulic cylinders.
Hydraulic Cylinder Segmentation by Product Type
- Welded
- Tie Rod
- Telescopic
- Mill Type
Amongst these segments, the welded segment is anticipated to hold a significant share over the forecast period. Welded hydraulic cylinders offer precision control and durability, making them suitable for applications where quality assurance and consistency are paramount. The global demand for high-quality hydraulic systems is on the rise, with an increasing focus on precision and consistency in manufacturing. Ongoing technological advancements in hydraulic systems and materials have contributed to the efficiency and reliability of welded hydraulic cylinders, making them more appealing to industries. Infrastructure development, including road construction, bridges, and urban projects, fosters the need for welded hydraulic cylinders in heavy machinery involved in these initiatives. The global hydraulic components industry is poised to grow by 5.6% from 2021 to 2026. Welded hydraulic cylinders are crucial in mining equipment for tasks like excavation, transportation, and material handling. The demand for minerals and metals drives the use of these cylinders. The agriculture sector relies on welded hydraulic cylinders for various applications in farming equipment, such as tractors, plows, and harvesters. These cylinders enable precise control of agricultural machinery.
Hydraulic Cylinder Segmentation by Application
- Mobile Equipment
- Industrial Equipment
Hydraulic Cylinder Segmentation by Bore Size
- 50MM
- 50-150MM
- >150MM
Hydraulic Cylinder, Segmentation by End-User
- Agriculture
- Construction
- Aerospace
- Automotive
Few of the well-known market leaders in the global hydraulic cylinder market that are profiled by Research Nester are AKKA Technologies, Liebherr Group, WEBER-HYDRAULIK GMBH, Epicor Software Corporation, Henan Modern Industrial Co., Limited, JNC CORPORATION, SMC Corporation, Daikin Industries, Ltd., NYK Group Firms, TOKYO KEIKI INC., and other key market players.
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Recent Development in the Hydraulic Cylinder Market
With the addition of a new structure at the Oberopfingen location, the components product division of Liebherr is increasing hydraulic cylinder production. Starting in 2024, the new plant will add mechanical production for hydraulic cylinders to the current main plant.
- The steering cylinders from WEBER-HYDRAULIK's latest generation feature a tube-in-tube design that blends innovation and expertise, resulting in a lightweight construction.
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