Global Hydraulic Cylinder Market 2016-2020
About Hydraulic Cylinder
The hydraulic cylinder industry will see a steady growth during the forecast period due to a continuous demand from the agriculture, construction equipment, mining equipment, material handling equipment, industrial equipment, aerospace, and defense sectors.
Technavio’s analysts forecast the global hydraulic cylinder market to grow at a CAGR of 4.39% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global hydraulic cylinder market for 2016-2020. To calculate the market size, the report discusses major drivers that are influencing market growth and challenges faced by vendors and the market as a whole.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hydraulic Cylinder Market 2016-2020
Technavio recognizes the following companies as the key players in the global hydraulic cylinder market: Bosch Rexroth, Eaton, HYDAC, Parker Hannifin, and WEBER-HYDRAULIK.
Other prominent vendors in the market are: Bengbu Yeli Machinery, Caterpillar, Dongyang Mechatronics, Energy Manufacturing, Enerpac, Hunger Hydraulik, Hydratech Industries, Hyva, KCC, Komatsu, KYB, Ligon Industries, Pacoma, Precision Hydraulic, SMC, Texas Hydraulics, Wren, Wipro Infrastructure Engineering, and Yuken.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is rising popularity of integrated solution and services. Vendors are more focused on providing integrated solutions to its customers. They offer both the product (hydraulic cylinders' system) and solutions to differentiate themselves from other market vendors. Integrated solutions help achieve profitable maintenance and aftermarket service revenue. This also strengthens the vendor-client relation. In an integrated system, all components of a hydraulic system such as hydraulic cylinder, valve, and pump are sold as a single unit or kit. For end-users, this solution helps reduce the time frame of procurement. Clients react favorably to solutions that offer better outcome with enhanced performance. These systems provide users with efficiency, engineering, and purchase solution. This lowers the overall operational cost and lead times.”
According to the report, one of the primary drivers in the market is rising demand for food and fiber to drive agriculture industry. The burst in population figures suggests that by 2050 the population will expand up to nine billion. In order to cater to the growing food requirements to sustain such a large population, the agriculture industry will need sophisticated equipment to carry out effective agricultural processes; the agriculture industry will grow at 3.61% CAGR annually. The mechanization of agricultural processes will help increase the sale of hydraulic cylinders.
Further, the report states that one major challenge in the market is limitations in repair and servicing of hydraulic cylinders. Hydraulic cylinders are prone to failures such as abnormal noise, high fluid temperature, and slow operation. Abnormal noise starts due to aeration and cavitation. Air in the hydraulic fluid causes an alarming banging or knocking sound; this happens during the compression and decompression as it moves around the system. Aeration results in the degradation of a fluid, causing damage to various components through leakage, less lubrication, and excessive temperature or heat.
Bosch Rexroth, Eaton, HYDAC, Parker Hannifin, WEBER-HYDRAULIK, Bengbu Yeli Machinery, Caterpillar, Dongyang Mechatronics, Energy Manufacturing, Enerpac, Hunger Hydraulik, Hydratech Industries, Hyva, KCC, Komatsu, KYB, Ligon Industries, Pacoma, Precision Hydraulic, SMC, Texas Hydraulics, Wren, Wipro Infrastructure Engineering, Yuken.