Global Hydraulic Cab Tilt System Market Size Is Predicted to Hit $6.06 Billion by 2030, Increasing at a CAGR of 3.82%

Kansas City, MO, June 26, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Hydraulic Cab Tilt System Market By Component (Sensors, Hydraulic Cylinders, Control Valves, Hydraulic Power Units, And Others), By Vehicle Type (Agriculture Machinery, Trucks, Construction Equipment, Buses, And Others), By End-User (Aftermarket And Original Equipment Manufacturers (OEMs)), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Hydraulic Cab Tilt System Market size & share in terms of revenue was valued at USD 4.55 billion in 2022 and it is expected to surpass around USD 6.06 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 3.82% during the forecast period 2023 to 2030.”

What is Hydraulic Cab Tilt System? How big is the Hydraulic Cab Tilt System Industry?

Report Overview:

In 2022, the global market for hydraulic cab tilt systems was estimated to be worth approximately $4.55 billion USD. It is anticipated that this market size would increase to approximately $6.06 billion USD by 2030, expanding at a compound yearly growth rate (CAGR) of approximately 3.82% between 2023 and 2030.

The study investigates the factors that are driving and inhibiting growth in the global hydraulic cab tilt system market, as well as the influence these factors will have on demand over the course of the forecast period. In addition to this, the paper investigates new possibilities in the market for hydraulic cab tilt system products.

To tilt the driver's compartment, also known as the cab, hydraulic cab tilt systems are a type of device that are typically seen in heavier vehicles, such as buses and trucks. This procedure makes it possible to quickly and easily access vital components such as engines that are located beneath the units. By utilising these mechanisms, it is possible to tilt the cab forward, so offering a space that is not only clear but also useful for the purposes of repair, maintenance, and inspection. The component parts of the system include hydraulic cylinders, a hydraulic pump, control valves, and the tubing that is linked with them. When the tilt control is turned on, the cylinders are put under pressure from the hydraulic system, which causes them to either extend further or retract further. The cab will eventually tilt as a consequence of the entire procedure. While the control valves are helpful in regulating the flow of hydraulic fluid, which is responsible for managing the movement of the cylinders, the pump is utilised to provide the necessary and adequate pressure that is required. It is anticipated that the industry would continue to expand at a consistent rate.

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Global Hydraulic Cab Tilt System Market: Growth Factors

Driving the expansion of the market are rising levels of heavy-duty vehicle demand and applications.

The global market for hydraulic cab tilt systems is expected to expand as a result of the rising demand for heavy-duty vehicles and their increasing application in a variety of developing industries. The frequency with which vehicles like lorries, buses, construction equipment, and agricultural machinery are put to service is directly proportional to their utilisation of the tilting system. Growth in industry is caused by a combination of factors, including the accelerating pace of expansion in certain businesses (including construction and logistics), as well as rising investment in projects aimed at developing infrastructure. As an illustration, Amazon.com, Inc. in the United States currently possesses more than three thousand electric delivery vans in order to fulfil consumer orders. The company's primary focus is on growing its asset base, and it is possible that further similar landmarks will be reached in the years to come. In addition, there has been a significant increase in the amount of money that is being invested in various infrastructure projects around the world. These projects include the construction of roads, bridges, buildings, and other units. Because of this, there has been a rise in the utilization of large-scale trucks and, as a direct consequence of this, there has been an increase in the need for hydraulic cab tilt systems.

The high starting costs will act as a barrier to market expansion.

The high initial cost that is connected with the installation of hydraulic cab tilt systems is one of the primary reasons that has the potential to significantly limit the expansion of the worldwide hydraulic cab tilt system business. This covers the costs incurred during the acquisition of several essential components, as well as the fees involved with their installation and the costs associated with their integration with the structural makeup of vehicles. It's possible that certain fleet operations, especially in industries that are sensitive to costs, won't be able to stomach the charge. In addition, the difficulty of doing maintenance and repairs on the hydraulic system itself adds to the amount of money that is lost.

Opportunities for expansion will arise as the demand for electric and hybrid vehicles continues to rise.

The rising demand for electric and hybrid vehicles, such as commercial buses and trucks, is anticipated to present certain growth prospects for the global hydraulic cab tilt system business. These opportunities are projected to contribute to the sector's expansion. This has the potential to open up a lot of fantastic business opportunities because these kinds of vehicles need exceptionally high-quality maintenance solutions, and hydraulic cab tilt systems become important when conditions are like this. As an illustration, the market for electric buses in Europe expanded by 26.1% in 2021, according to the GDP of that region.

Restricted retrofitting possibilities are expected to be a barrier to industry expansion.

It may be difficult to convert already-existing vehicles with hydraulic cab tilt systems, which may make it difficult for the worldwide sales volume of the hydraulic cab tilt system market to realize its true potential. This may be the result of a number of issues that come as a direct result of the limited retrofitting alternatives. This is especially true for older vehicles, which were never intended to have space for such devices in the first place. Because of this, the manufacturers may be forced to make changes to the structural makeup of vehicles as well as their electrical systems, which may strike many participants in the sector as an improbable step.

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Report Scope

Hydraulic Cab Tilt System Market: Segmentation Analysis

The global hydraulic cab tilt system market is segmented based on component, vehicle type, end-user, and region.

Based on components, the global market segments are sensors, hydraulic cylinders, control valves, hydraulic power units, and others. In 2022, the industry generated the highest growth in the hydraulic power units segment. They are responsible for the generation of the hydraulic pressure required to operate the entire system. It consists of a hydraulic pump, motor, reservoir, filters, and other necessary components. Since it acts as the primary source of power generation, the importance of hydraulic power units remains unmatched. Furthermore, the high complexity of the unit is also responsible for the added cost of implementation and making it a higher-value component compared to other parts of the system. As per international standards, the average pressure range of low-pressure pumps is between 0.5 to 5 bars and that of high-pressure pumps is up to 30 bars.

Based on vehicle type, the global hydraulic cab tilt system market divisions are agriculture machinery, trucks, construction equipment, buses, and others.

Based on end-user, the global market is divided into aftermarket and original equipment manufacturers (OEMs). The hydraulic cab tilt system industry registered the highest growth in the original equipment manufacturers (OEMs) segment. They are the manufacturers of heavy-duty vehicles and hence tend to incorporate hydraulic cab tilt systems as a crucial part of the vehicle assembly process. OEMs are the primary consumers of hydraulic cab tilt system manufacturers. The segmental demand is driven by the higher production and sales of new, modern heavy-duty vehicles and as the demand continues to rise, the industry is expected to grow with it. The aftermarket segment consists of people who are owners of heavy vehicles and require maintenance, upgrade, and repair solutions. As per the American Trucking Association, more than 4.06 million class 8 trucks were operational in the US in 2021.

The global Hydraulic Cab Tilt System market is segmented as follows:

By Component

• Sensors
• Hydraulic Cylinders
• Control Valves
• Hydraulic Power Units
• Others

By Vehicle Type

• Agriculture Machinery
• Trucks
• Construction Equipment
• Buses
• Others

By End-User

• Aftermarket
• Original Equipment Manufacturers (OEMs)

Browse the full “Hydraulic Cab Tilt System Market By Component (Sensors, Hydraulic Cylinders, Control Valves, Hydraulic Power Units, And Others), By Vehicle Type (Agriculture Machinery, Trucks, Construction Equipment, Buses, And Others), By End-User (Aftermarket And Original Equipment Manufacturers (OEMs)), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report at- https://www.zionmarketresearch.com/report/hydraulic-cab-tilt-system-market-size

Competitive Landscape

Some of the main competitors dominating the global Hydraulic Cab Tilt System market include - 

• Wipro Infrastructure Engineering
• Parker Hannifin Corporation
• JOST Werke AG
• Haldex AB
• Ognibene Power S.p.A.
• OMAX Autos Limited
• Wipro Enterprises Private Limited
• NORDIC HYDRAULIC SYSTEMS A/S
• HYVA Global B.V.
• Enovation Controls LLC
• VETUS B.V.
• Penta TMR
• UQM Technologies Inc.
• VSE Volumentechnik GmbH
• Muncie Power Products Inc.
• JTEKT Corporation
• Twin Disc
• Incorporated
• Permco Inc.
• Pietro Fioravanti Srl
• Abex Corporation
• Tesmak Hydraulic Machine Industry and Trade Inc.
• Delphi Technologies
• Hydroline Oy
• Nuovo Pignone S.p.A.
• Dana Incorporated.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Hydraulic Cab Tilt System market is likely to expand at a CAGR of around 3.82% during the forecast period (2023-2030).                  
• In terms of revenue, the Hydraulic Cab Tilt System market size was valued at around US$ 4.55 billion in 2022 and is projected to reach US$ 6.06 billion by 2030.
• The hydraulic cab tilt system market is projected to grow at a significant rate due to the growing demand for heavy-duty vehicles.
• Based on component segmentation, hydraulic power units were predicted to show maximum market share in the year 2022.
• Based on end-user segmentation, Original Equipment Manufacturers (OEMs) was the leading user in 2022.
• On the basis of region, North America was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Hydraulic Cab Tilt System industry?
• What are the main driving factors propelling the Hydraulic Cab Tilt System Market forward?
• What are the leading companies in the Hydraulic Cab Tilt System Industry?
• What segments does the Hydraulic Cab Tilt System Market cover?
• How can I receive a free copy of the Hydraulic Cab Tilt System Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Component, By Vehicle Type, By End-User, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global hydraulic cab tilt system market is projected to be led by North America during the forecast period with the US and Canada acting as major contributors. The growth trajectory is attributed to the presence of a mature market dealing with heavy-duty vehicles and includes commercial transportation automobiles such as trucks and buses. Moreover, the region’s stringent safety compliance policies along with increasing investment toward technological advancements and higher maintenance efficiency have been collectively responsible for higher regional dominance. Additionally, the North American market could register higher growth due to the growing demand and inclination toward electric and hybrid vehicles along with the rising integration of hydraulic cab tilt systems in these platforms. The European territory also holds a significant share due to the strong presence of automotive and commercial vehicle manufacturers.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In December 2022, Power-Packer, a leading manufacturer and distributor of electro-hydraulic motion control systems, completed its 50th anniversary in managing to become one of the most sought providers of hydraulic position and motion control technologies
• In June 2019, HANGCHA, a company with over 4 decades in the forklift trucks segment, launched the 14~18t X Series Heavy IC Forklift Truck. It has a load capacity of 14000~18000 kg and is an extension of its predecessor X series IC forklift truck. The unique design allows the cab to tilt in without the aid of any tools
• In February 2020, Kobelco announced the launch of SK140SRLC-7– a 14-metric-ton excavator with enhanced productivity and efficiency
• In May 2023, Consip, an Italian central purchasing body, launched a tender worth €327 million related to the supply of 500 hydrogen and electric-powered buses

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