According to the latest report by IMARC Group, the global hydraulic cylinder market reached a value of US$ 14.1 Billion in 2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
A hydraulic cylinder refers to a piece of actuation equipment that is utilized in hydraulic power transfer systems to provide a unidirectional force. It comprises an assembly of components, including cylindrical barrels, pistons, piston rods, cylinder caps and heads, seals and rings, to form a continuous hydraulic circuit. Widely used to convert hydrostatic energy into mechanical energy, they are powered by pressurized hydraulic fluid, such as oil, to produce linear motion. Since these devices are easy to use, extremely durable, and offer high power-to-size and power-to-weight ratios, they are extensively utilized across numerous sectors, including marine, construction, automotive, manufacturing, and aerospace.
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Global Hydraulic Cylinder Market Trends:
The global market is primarily driven by the significant growth across numerous end use sectors. Hydraulic cylinders are widely used as an essential component in heavy machinery, including backhoes, trenchers, concrete cutting saws, asphalt laying machines and motor graders that are employed in the construction sector. In line with this, rapid industrialization and continual infrastructural developments across the globe, especially in the developing economies, are providing a boost to the sales of these cylinders. These devices are also extensively utilized in the aerospace sector for the smooth functioning of brakes and landing gear, and in the defense sector as a crucial component in numerous military equipment, such as telehandlers, bomb loaders, thrust reversers, automated pallets and personnel door systems. Along with this, the increasing farm mechanization in the agricultural sector is expected to provide a thrust to the market growth. The rising need for automation has led to the replacement of manually driven equipment with hydraulic devices that simplify advanced tasks, minimize the dependency on manual labor and improve crop production. The market is further driven by the favorable initiatives undertaken by governments of several nations to promote infrastructural development as well as automation across numerous industries.
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The report has segmented on the basis of function, type, bore size, application, end-use industry and geography. Breakup by Function:
The competitive landscape of the industry has also been examined with some of the key players being Bosch Rexroth AG, Caterpillar Inc., Eaton Corporation, Enerpac Tool Group (Formerly Actuant Corporation), Hannon Hydraulics, HYDAC, JARP Industries, Kappa Engineering, KYB Corporation, Parker-Hannifin Corporation, SMC Corporation, Texas Hydraulics Inc., United Hydraulics, Wipro Enterprises, etc.
Key highlights of the report:
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