Hydraulic Cylinder Market

Global Hydraulic Cylinder Market Size (2024 to 2032)

The Global Hydraulic Cylinder Market is predicted to grow from USD 16.77 billion in 2023 to reach a valuation of USD 25.57 billion by 2032 from USD 17.57 billion in 2024 increasing at a CAGR of 4.80% over the outlook period from 2024 to 2032.

Market Scenario

Hydraulic Cylinders, also known as hydraulic pumps, are sub-assemblies employed in hydraulic power transfer systems. They help transfer energy in applications ranging from construction equipment to aviation.

These cylinders are a set of several components, namely the barrel; cylinder heads and cylinder heads; piston, which can be double or single-acting; piston rod; sealed; and rings. These cylinders are connected to the hydraulic system to form a continuous hydraulic circuit. Hydraulic Cylinders are available in various configurations and functions; each is suitable for a particular application. They can also be employed to selectively resist linear motion under heavy loads. Therefore, these cylinders can be employed in various applications.

Market expansion is driven by a significant demand from the construction industry and the escalating use of mining equipment. Additionally, the escalating demand for material handling equipment is fueling the demand for Hydraulic Cylinders.

Market Trends

The uninterrupted call in industries where hydraulic systems play a vital role is the main factor driving the Hydraulic Cylinder market. The irreplaceability of hydraulic systems in construction, aviation, infrastructure, and manufacturing equipment is predicted to increase the market for Hydraulic Cylinders. Furthermore, rapid industrialization and infrastructure development in developing countries are predicted to boost the market for Hydraulic Cylinders. The expansion of civil and military aviation in developing countries such as India, China, Malaysia, Indonesia, and Brazil is predicted to drive the call for Hydraulic Cylinders in aerospace applications.

Market Drivers

The ambitious and gigantic infrastructure development projects in the construction industry are becoming complex. Although the COVID-19 pandemic outbreak has severely affected the construction industry, the sector is predicted to experience significant expansion after the COVID-19 pandemic, due to higher infrastructure spending in the APAC region and the resumption of investment in European infrastructure. New infrastructure development plans and projects are likely to stimulate the call for various construction equipment (equipped with hydraulic jacks), such as backhoes, excavators, trenchers, planers, and tippers. This round is predicted to boost the Hydraulic Cylinder market. The growing call for advanced agricultural machinery coupled with the growing size of the population will drive the call for Hydraulic Cylinders. Furthermore, the expansion of infrastructure development by developing economies will further boost the business landscape.

Market Restraints

Hydraulic Cylinders work with hydraulic fluids, mainly oil. Various factors, such as improper fittings and connections, and environmental parameters such as vibrations, shocks, and temperature variations, cause Hydraulic Cylinders to leak oil. In industries such as mining and construction, which require extensive earthworks and the deployment of large fixed and mobile installations in environmentally sensitive locations, the leakage problem largely persists. This leak is not only expensive but also dangerous for the environment and personnel. Also, in the aerospace industry, unpredicted leakage leads to delays resulting in prohibitive expenses, especially when these events occur on sites.

Market Opportunities

In the shipping industry, shipyards often contain many shipping containers of varying sizes and weights, stacked hundreds of feet high. To ship these heavy containers, lifting equipment is employed. Shipping is the most important mode of transport in the world, facilitating international trade. Most items are transported by ships around the world, from electronics, automobiles, textiles, and raw metals to oil and gas. Enabling institutional and technological factors, such as industrial IoT adoption and government support, are driving the expansion of the shipping industry. The growing maritime industry is fueling the need for lifting equipment in ports. Therefore, the escalated need for lifting devices is likely to increase the call for hydraulic jacks employed in this equipment.

Market Challenges

Hydraulic Cylinders work with a fluid, mainly oil. The leakage of these fluids causes pollution of the environment. Therefore, end-users who need to maintain a clean and healthy environment are looking for cleaner alternatives to Hydraulic Cylinders. One of these options is the use of pneumatic cylinders. Since pneumatic cylinders use gases, even if there is a leak, they do not pollute the environment. Therefore, the availability of cleaner alternatives, such as pneumatic cylinders, poses a challenge to the expansion of the Hydraulic Cylinder market.

Impact of COVID-19 on the Global Hydraulic Cylinder Market

COVID-19 emerged as a worldwide pandemic that has spread to more than 200 countries around the world and has affected various industries around the world. As the world continues to fight this crisis, many industries continue to experience a steady decline. A sharp drop in a call from end-use industries such as aerospace, automotive, construction, mining, and oil and gas is likely to affect the market. The call for Hydraulic Cylinders from these industries is declining as the COVID-19 pandemic slows manufacturing production and consumer confidence. The excess capacity caused by the drop in calls from these industries is predicted to reduce average profit margins in the fiscal year 2020. Two majorities of areas affected by the pandemic in sectors such as aerospace and defense, automotive, construction, mining, and oil and gas are Deploying personnel on-site for operations that cannot be carried out remotely and call for industrial equipment (including equipment using hydraulic jacks) due to the worldwide economic downturn. All of these factors are predicted to have a negative impact on the expansion of the worldwide Hydraulic Cylinder market.

HYDRAULIC CYLINDER MARKET REPORT COVERAGE:

Market Segmentation

Global Hydraulic Cylinder Market Analysis By Function

• Double-Acting

• Single-Acting

Double-acting Hydraulic Cylinders are employed in agriculture, automotive, and various other industries due to their retraction property.

Global Hydraulic Cylinder Market Analysis By Specification

• Welded

• Tie-Road

• Telescopic

• Mill-Type

Global Hydraulic Cylinder Market Analysis By Application

• Mobile

• Industrial

Market Regional Analysis

The Hydraulic Cylinder Report includes the segmentation of Regions:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

The Hydraulic Cylinder industry in APAC is predicted to see expansion at the highest CAGR during the foreseen period. Japan is predicted to continue to account for the largest Hydraulic Cylinder market share in the APAC region during the foreseen period, followed by Australia and China. Market expansion in the APAC region can be attributed to rapid industrialization and infrastructure development. Hydraulic Cylinders are the main components of construction equipment and agricultural equipment. Since both types of equipment are in a high call in the APAC region, the Hydraulic Cylinder market is predicted to grow at a substantial rate over the next few years.

North America and Europe are the top regions in the worldwide Hydraulic Cylinder market, led by the presence of key construction equipment manufacturers such as Caterpillar and JCB. Asia-Pacific is also a prominent region in the Hydraulic Cylinder market due to escalating industrialization and growing infrastructure. The size of the Canadian market is predicted to exceed 4% by 2025. Escalated investment in the construction industry will drive the call for technology during the foreseen period. In addition, escalating government efforts to strengthen the defense and aerospace industry will enhance product penetration in the country. Escalated investments in the food and beverage sector, as well as escalated consumer spending on packaged food products, will boost the expansion of the Hydraulic Cylinder industry in Germany. Additionally, the growing number of large-scale industries, including aerospace, defense and military, petrochemicals, and construction, has required the deployment of material handling equipment, which in turn will further drive business momentum.

Market Key Players

The major players operating in the global Hydraulic Cylinder market are 

1. Enerpac Tool Group (US)
2. Bosch Rexroth (Germany)
3. Eaton (Ireland)
4. KYB Corporation (Japan)
5. Parker-Hannifin Corporation (US)
6. Caterpillar (US)
7. SMC Corporation (Japan)
8. Jiangsu Hengli Hydraulic (China)
9. Wipro Enterprises (India)
10. HYDAC (Germany)

Market Recent Developments

• Parker launches a new compact Taiyo Hydraulic Cylinder. The standard seal assembly includes a secondary polyurethane rod cleaning seal and the new rod seal.

• The hydro line launches predictive maintenance technology for Hydraulic Cylinders. The hydro line’s LEO uses a proprietary algorithm to analyze life cycle data directly from the operating environment of a Hydraulic Cylinder, obtained using strategically placed integrated sensors.