Hydraulic Cylinder Market by Function (Single Acting, Double Acting), Specification (Telescopic, Tie Rod, Mill Type, Welded), Application (Mobile and Industrial), Bore size, Industry, and Region - Global Forecast to 2023
“Hydraulic cylinder market projected to witness significant growth between 2017 and 2023”
The hydraulic cylinder market is expected to be valued at USD 13.64 billion in 2017 and is projected to reach USD 19.30 billion by 2023, at a CAGR of 5.95% between 2017 and 2023. The key factor driving the growth of the hydraulic cylinder market is their rising demand in the construction industry and mining process equipment. Increasing demand for lifting equipment in the shipping industry and for material handling equipment in the aerospace & defense industry is the key opportunity for the players in the hydraulic cylinder market.
“Market for double-acting hydraulic cylinders to grow at highest CAGR during forecast period”
Based on function, the market for double-acting hydraulic cylinders is projected to grow at the highest CAGR between 2017 and 2023. In double-acting cylinders, there are 2 ports for the input and output of the hydraulic fluid. The pressure from the fluid can be used in both directions to expand and retract the piston. It can be used vertically as well as horizontally as it has the mechanism to help the piston expand and retract each time it pushes or needs to pull an object.
“Market for <50 mm hydraulic cylinders to grow at highest CAGR during forecast period”
Based on bore size, the market for <50 mm hydraulic cylinders is projected to grow at the highest CAGR between 2017 and 2023. Cylinders with bore size <50 mm are used to perform operations with lower capacity lifting and other push–pull operations in lightweight equipment. Due to the small bore size, these hydraulic cylinders are used in light-duty tasks with a maximum operating pressure of 35–200 bar. The applications of hydraulic cylinders with less than or up to 50 mm bore size are limited to plastic punching machines and lightweight load moving.
“Hydraulic cylinder market for aerospace & defense industry to grow at highest CAGR during forecast period”
The hydraulic cylinder market for the aerospace & defense industry is expected to grow at the highest CAGR between 2017 and 2023. The aerospace industry seeks to enhance manufacturing through automated, efficient, and effective processes. In this industry, hydraulic cylinders are used in various types of equipment, such as ground handling equipment, baggage handling equipment, engines, ramps, door actuators, brakes and wheels, flight controls, fuel systems, and specialty aircraft repair equipment. Hydraulic cylinders are also a major component of aircraft landing gears. Landing gears are hydraulically operated, and hydraulic cylinders play a critical role in systems and control surfaces such as flaps, speed brakes, and ailerons.
The breakup of the profiles of primary participants has been given below.
• By Company Type: Tier 1—65%, Tier 2—30%, and Tier 3—5%
• By Designation: C Level—55%, D Level—20%, and Others—25%
• By Region: North America—45%, Europe—20%, APAC—30%, and RoW—5%
Key players operating in the hydraulic cylinder market include Caterpillar (US), Parker Hannifin (US), Actuant (US), Eaton (Ireland), Jiangsu Hengli Hydraulic (China), Robert Bosch (Germany), and Wipro (India).
This research report segments the hydraulic cylinder market on the basis of function, specification, application, bore size, industry, and geography. Based on function, the market has been segmented into single acting and double acting. On the basis of specification, the market has been classified into tie rod, welded, telescopic, and mill type. Based on application, the market has been segmented into industrial equipment and mobile equipment. Based on bore size, the market has been segmented into <50 mm, 50–150 mm, and >150 mm. Based on industry, the market has been classified into construction, aerospace & defense, material handling, agriculture, mining, automotive, marine, oil & gas, and others. Based on region, the market has been classified into North America, South America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on function, specification, application, bore size, industry, and geography have been conducted to offer an overall view of the hydraulic cylinder market.
The value chain analysis has been performed to provide an in-depth insight into the hydraulic cylinder market.
The report provides a detailed overview of major drivers, restraints, opportunities, and challenges influencing the growth of the hydraulic cylinder market.
The report also includes competitive landscape, along with in-depth analysis and revenues of key players.
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