Hydraulic Cylinders Market to Reach $21.2 Bn, Globally, by 2030 at 4.2% CAGR

WILMINGTON, DE, UNITED STATES, October 30, 2024 /EINPresswire.com/ -- Prime determinants of growth:

Allied Market Research published a report, titled, "Hydraulic Cylinders Market by Function (Single Acting Cylinders and Double Acting Cylinder), Design (Tie-Rod Cylinders and Welded Cylinders), and Bore Size (Less Than 50mm, 51mm to 100mm, 101mm to 150mm, and Greater Than 151mm): Global Opportunity Analysis and Industry Forecast, 2021–2030".

The global hydraulic cylinders industry generated $14.07 billion in 2020, and is anticipated to generate $21.2 billion by 2030, witnessing a CAGR of 4.2% from 2021 to 2030.

Developments in the global construction sector, rapid industrialization coupled with increasing infrastructural spending, and retrofit & replacement of existing equipment drive the growth of the global hydraulic cylinders market. However, extensive range of applications and increase in demand for material handling equipment presents new opportunities in the coming years.

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Top Impacting Factors:
Hydraulic cylinders are mechanical devices that convert hydraulic energy into linear mechanical force and motion. The global hydraulic cylinders market size is driven by rising infrastructure development and modernization efforts. They play a crucial role in various industrial applications where heavy lifting, pushing, pulling, or holding tasks are required. The basic principle behind hydraulic cylinders is the use of pressurized hydraulic fluid to generate force, typically using a piston enclosed within a cylindrical housing.

The main components of a hydraulic cylinder include a cylinder barrel, piston, piston rod, seals, and hydraulic fluid. The cylinder barrel serves as the main body enclosing the hydraulic fluid, while the piston divides the cylinder into two chambers: the rod side and the cap side. The piston rod extends from the piston and transfers the generated force to the external load or machinery. Seals are essential for maintaining the integrity of the hydraulic fluid within the cylinder and preventing leakage. The hydraulic cylinders market forecast indicates a steady increase in demand, driven by the expansion of the industrial and construction sectors.

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The double acting segment to maintain its leadership status throughout the forecast period

Based on function, the double acting segment held the highest market share in 2020, accounting for more than three-fifths of the global hydraulic cylinders market, and is estimated to maintain its leadership status throughout the forecast period. Single acting cylinders is simple, required less maintenance and is economical as compared to double acting cylinders, which drive the growth of the market. Moreover, the single acting segment is projected to manifest the highest CAGR of 6.5% from 2021 to 2030. This is because double-acting hydraulic cylinder is ideal equipment for machine handling equipment in automotive sector.

The 51mm to 100mm segment to maintain its lead position during the forecast period

Based on bore size, the 51mm to 100mm segment accounted for the largest share in 2020, contributing to nearly one-third of the global hydraulic cylinders market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 6.5% from 2021 to 2030, owing to an increase in the demand for hydraulic cylinder with bore size 51 mm to 100 mm across the end users.

Asia-Pacific, followed by North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global hydraulic cylinders market, owing to rise in demand for hydraulic cylinder in the construction industry. Moreover, the LAMEA region is expected to witness the fastest CAGR of 5.0% during the forecast period.

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Leading Market Players:

Actuant Corporation
Caterpillar Inc.
Eaton Corporation Plc
JARP Industries Inc.
Hengli Hydraulic
Kawasaki Heavy Industries Limited
Parker Hannifin Corporation
Robert Bosch GmbH
Texas Hydraulics Inc.
Wipro Limited.

Key Findings of The Study:

The report provides an extensive analysis of the current and emerging Hydraulic cylinders Market trends and dynamics.
Depending on function, the Double Acting Cylinders segment has dominated the Hydraulic cylinders market, in terms of revenue in 2020 and Single Acting Cylinders segment is projected to grow at a significant CAGR during the forecast period.
By design, the Welded Cylinders segment has registered highest revenue in 2020.
By Bore Size, 51mm to 100mm segment has registered highest revenue in 2020.
The Asia-Pacific region is projected to register the highest growth rate in the coming years.
The key players within the Hydraulic cylinders Market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand competitive outlook of the Hydraulic cylinders Market industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth Hydraulic cylinders Market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.

David Correa
Allied Market Research
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