“According to the research report published by Polaris Market Research, the global hydraulic cylinder market was valued at USD 14.29 billion in 2021 and is expected to reach USD 20.82 billion by 2030, to grow at a CAGR of 4.4% during the forecast period.”
The report delivers significant research data and proof to be a ready-to-access and self-analyzed study for managers, analysts, industry experts, and other key people, assisting them in making crucial business decisions. The report comprises qualitative and quantitative information on the Hydraulic Cylinder Market that provides historical data and growth forecast. It covers recent developments, technologies, and the changing investment structure of the market. The report is showcased with self-explained tables and charts in a presentable format.
Growth of the global market is mainly driven by a number of factors such as a rise in demand for heavy construction and mining vehicles from various industries; demand for mobile applications such as excavators, loaders, graders, dump trucks, backhoes, and dozers; and considerable growth on construction activities across the globe due to smart city and smart infrastructure initiatives. In addition, the ongoing trend of infrastructure development among the developed and developing countries is projected to boost the growth of the global market. On the other hand, the emergence of smart cylinders is expected to create lucrative growth opportunities for the industry.
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The agriculture segment is projected to witness the highest growth rate over the study period. This is mainly attributed to the growing usage of automated machines for the execution of complex tasks. These machines include tractors, skid steers, loaders, spraying equipment, and baler, along with the heavy machines used for planting, weeding, and harvesting. In addition, the emergence of innovative agriculture machines equipped with smart cylinder systems is expected to create lucrative growth opportunities for the segment.
For instance, in February 2021, TAFE – Tractors and Farm Equipment Limited, one of the leading tractor manufacturers worldwide, launched its new DYNATRACK Series, an advanced range of tractors that offer a dynamic performance unmatched utility and versatility, and sophisticated technology.
This tractor is equipped with DYNATRACK’s DynaLIFT system to offer superior productivity, lift capacity, and speed. On the other hand, Asia-Pacific is anticipated to witness the highest growth in the global market due to the infrastructure development trend in developing countries such as China and India.
Top Key Players:
- Bosch Rexroth
- Burnside Autocyl
- Caterpillar
- Eaton
- Enerpac Tool Group
- Hydac
- Jiangsu Hengli Hydraulic
- KYB Corporation
- Pacoma GmbH
- Parker-Hannifin Corporation
- SMC Corporation
- Standex International
- Texas Hydraulics Inc.
- Weber-Hydraulik Gmbh
- Wipro Enterprises
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Polaris Market Research has segmented the hydraulic cylinder market report on the basis of function, specification, application, industry vertical, and region:
Hydraulic Cylinder, Function Outlook (Revenue – USD Billion)
- Single-acting
- Double-acting
Hydraulic Cylinder, Specification Outlook (Revenue – USD Billion)
- Welded
- Tie Rod
- Telescopic
- Mill Type
Hydraulic Cylinder, Application Outlook (Revenue – USD Billion)
- Industrial
- Mobile
Hydraulic Cylinder, Industry Vertical Outlook (Revenue – USD Billion)
- Construction
- Aerospace
- Material Handling
- Agriculture
- Mining
- Automotive
- Marine
- Oil & Gas
- Others
Hydraulic cylinder, Regional Outlook (Revenue – USD Billion)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Spain
- Netherlands
- Russia
- Asia Pacific
- China
- India
- Japan
- Malaysia
- South Korea
- Indonesia
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Key Questions Answered with This Study
- What makes the market feasible for long-term investment?
- What geographic region would have better demand for products/services?
- What opportunity emerging territory would offer to established and new entrants in the market?
- How influencing factors driving the demand for Hydraulic Cylinder Market in the next few years?
- What is the impact analysis of various factors in the market growth?
- What strategies of major players help them acquire share in a mature market?
- What are the recent trends in the regional market?
- What will be the market-based future possibilities, development patterns, and Hydraulic Cylinder Market elements?
Browse market data Tables and Figures and in-depth TOC on Hydraulic Cylinder Market Forecast Report (2023-2032) @ https://www.polarismarketresearch.com/industry-analysis/hydraulic-cylinders-market
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