Hydraulic Cylinder Market Share Projected to Reach USD 21.95 Billion by 2030

The Hydraulic Cylinder Market Share was valued at around USD 15.91 billion in 2023 and is expected to reach approximately USD 21.95 billion by 2030 at a CAGR of 4.7% during the forecast period. The growth can be mainly attributed to the increasing infrastructure development and automation rapacity among industries.



Factors Driving the Growth of the Market and Opportunities

Hydraulic cylinder is an important component in construction machinery including excavator, loader and crane among others and thus the global rise in infrastructure projects has tremendously increased the demand for hydraulic cylinders. In addition, the growth of new buildings due to growing urban areas, along with the need for infrastructure and upgrading of existing structures, has led to the growth of advanced construction equipment, which propels the market growth. From agricultural sector, the mechanization trend is rising which is resulted to augmentation in use of hydraulic cylinders in farming machines such as tractors and harvesters. The motive behind this transition is to gain productivity and also meet the rapid food demand, which in turn is proliferating the market.

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Segmentation Analysis

The Hydraulic Cylinder Market can be segmented according to Function,Specification, Application, Bore size, End-user industries, Geography.

by Function: Hydraulic cylinders function can be of two types; single-acting and double-acting cylinders. Single-acting cylinders extend by applying force in one direction, and double-acting cylinders are able to apply force in either direction hence can extend and retract.

Specification: Specification can mean pressure ratings, stroke length, mounting configuration — all need to be created to meet an application idea from unique industries.

Usage: Hydraulic cylinders are used in a variety of industries such as construction, variety of material handling applications, agriculture, mining, aerospace, automotive, etc.

Deming: The market provides the hydraulic cylinders in various bore sizes that are fully suitable for different types of the force and motion requirements where small bore cylinders are in a need for precision tasks, while a large bore is needed for heavy-duty applications.

Key End-User Industries — Among end-user industries, hydraulic cylinders are being used in construction, agriculture, mining, aerospace, automotive, manufacturing, along with a few others.

Country-Level Analysis

US: The American market is beneficial as a result of high investments into infrastructure and defense industries. High demand for hydraulic equipment has been fueled by the government drive for modernizing the infrastructure and increasing the defense capabilities.

Germany being the hub of manufacturing, the increase in industrialization, automation, and advanced machinery has led to consumption of hydraulic cylinders which in-turn has driven the market growth.

China: The construction boom in China has supported the hydraulic cylinder market, which was nearly US$4.8 trillion in 2021. Advanced construction equipment is required here as the country is undergoing rapid urbanization along with large-scale infrastructure projects.

India — The recent emphasis of India on infrastructure development and industrialisation has increased the demand for hydraulic cylinders, especially in construction and agricultural machinery.

Brazil , abundant in mineral resources and with its mining sector growing fast, needs hydraulic cylinders to facilitate extraction and movement of materials, hence fuelling the market.

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Competitive Analysis

The global hydraulic cylinder market is fragmented with various contending key players, and they are often competing against each other to gain a substantial slice of the market through innovation and various strategic activities. Notable companies include:

Eaton Corporation: a global leader in power management solutions, provides a complete range of hydraulic cylinders serving many industries.

Bosch Rexroth is a world leader in drive and control technologies and offers innovative hydraulic solutions such as high-Performance cylinders.

Parker Hannifin Corporation: Parker Hannifin is a manufacturer of motion and control technologies offering various hydraulic cylinder solutions known for their performance capabilities and reliability.

Caterpillar Inc — As one of the largest manufacturers of construction and mining equipment, Caterpillar uses durable hydraulic cylinders in its products, receiving high performance.

KYB Corporation: Specializing in hydraulic components, KYB offers a wide variety of cylinders used in automotive and industrial applications.

Bosch Rexroth has launched new smart hydraulic cylinders that include built-in sensors that measure certain features in real time, which is a key development in the industry. In the same context, Eaton Corporation has also broadened its range by introducing sustainable hydraulic solutions, in line with business sustainability trends worldwide.

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Conclusion

The hydraulic cylinder market is growing steadily worldwide, due to increasing infrastructural developments, industrial automation and technology development. With the changing face of the industry, the need for better working and reliable hydraulic systems will increase all over the world through which market participants can achieve lucrative profits.

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