Hydraulic Cylinders Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Hydraulic Cylinders Market: By Function (Double Acting, Single Acting), By Design (Tie-Rod Cylinders, Welded Cylinders, Telescopic Cylinders, Mill Type Cylinders), Bore Size (Less than 50 mm, 51 mm to 100 mm, 101 mm to 150 mm, Greater than 151 mm), By Application (Construction, Aerospace & Defense, Material Handling, Agriculture, Mining, Automotive, Oil & Gas, Others) and Geography

 

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Report

Description

The hydraulic cylinders market is estimated to be valued at USD 14,075.0 Million in 2021 and is expanded to grow at a significant CAGR of 4.3% over 2022-2028. A broad range of product offerings from market players is driving the market. For instance, leading players in the hydraulic cylinders market like Enerpac Tool Group, Eaton, and Parker Hannifin, are offering a broader range of product portfolios, which is expected to increase customer access in different applications and is anticipated to drive the market during the forecast period. Increasing demand for new products from various end-users and continuous development of new products and product launches are paramount factors to drive the market over the forecast period. Growing demand for oil & gas propels the market, and the agriculture industry offers lucrative opportunities. Hydraulic cylinders strive to have distinct market recognition and increase the customer base across the globe. In order to do that, manufacturers are offering integrated solutions containing cylinders and ancillary products like pumps, valves, filters, hoses, and connectors. Furthermore, hydraulic cylinder companies are developing apprenticeship programs. For instance, Bosch Rexroth implemented an apprenticeship program to focus on manufacturing hydraulic systems, including cylinders; EATON Hydraulics developed three separate apprenticeship programs in cooperation with the Minnesota Office of Apprenticeship and the U.S. Department of Labour. In the hydraulic cylinders market, in 2021, the double-acting hydraulic cylinders segment accounted for a larger revenue share and is anticipated to grow with a CAGR of 4.2% from 2022 to 2028 to reach USD 13,928.6 Mn by 2028. Owing to the retraction property of these cylinders, they are used in aerospace, automotive, agriculture, and several other industries. Double-acting hydraulic cylinders have a higher demand in mobile applications such as lifting equipment, earth moving equipment, and forklifts. These cylinders are suitable in presses and chippers for opening and closing drawers and raising and lowering devices such as excavators and cranes.

Recent Market Developments:

In January 2022, Eaton announced it has completed the acquisition of Royal Power Solutions, a U.S.-based manufacturer of high-precision electrical connectivity components used in electric vehicle, energy management, industrial and mobility markets.

In December 2020, Wipro Infrastructure Engineering’s Industrial Automation Business signed a definitive agreement to acquire PARI, India’s largest industrial automation company. The combined strength of Wipro and PARI is expected to expand its offering, broaden its global footprint, and strengthen its ability to furnace deeper customer relationships in India and overseas.

Hydraulic Cylinders Market

MARKET SUMMARY
-
4.3% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 4.3%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– North America

Hydraulic Cylinders Market

  • The hydraulic cylinders market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The hydraulic cylinders market is segmented based on function, design, bore size, application, and geography.
Key Players
  • Enerpac Tool Group.
  • Hengli Group Co., Ltd
  • Wipro Infrastructure Engineering
  • Bucher Hydraulics GmbH.
  • Bosch Rexroth AG
  • KYB Americas Corporation.
Hydraulic Cylinders Market

Dynamics

The global hydraulic cylinders market is primarily fueled by ongoing product enhancements, major company launches, a diverse range of product offerings from market participants, the establishment of new manufacturing plants, and acquisition strategies to expand the market. High material prices, costs relating to manufacturing & maintenance, shortage of skilled professionals & engineers, and an alternative to hydraulic cylinders will impact the market growth.


Asia-Pacific Got Significant Share

Hydraulic Cylinders Market

Asia-Pacific hydraulic cylinders market held the highest market share of 29.3% in 2021. The expanded number of applications for material handling equipment, increasing demand for material handling equipment for coal mining, diamond mining, bulk handling, and increasing establishments of new manufacturing facilities to cater to necessary market demand from associate countries to India and China are the key factors driving growth in hydraulic cylinders. In addition, North America will be the second-largest shareholder in the global hydraulic cylinders market owing to the increasing usage of hydraulic cylinders for constriction, aerospace, and material handling applications.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Hydraulic Cylinders Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The hydraulic cylinders market is projected to expand at a CAGR of 4.3% during the forecast period.

Asia-Pacific hydraulic cylinders market held the highest market share

Bosch Rexroth AG, Enerpac Tool Group., Hengli Group Co., Ltd, SMC Corporation., PARKER HANNIFIN CORP


Report

Table Of Content

1. Executive Summary
2. Global Hydraulic Cylinders Market Introduction
2.1. Global Hydraulic Cylinders Market – Taxonomy
2.2. Global Hydraulic Cylinders Market – Definitions
2.2.1. Function
2.2.2. Design
2.2.3. Bore Size
2.2.4. Application
2.2.5. Region
3. Global Hydraulic Cylinders Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Hydraulic Cylinders Market Dynamic Factors – Impact Analysis
3.6. COVID-19 Impact on the Market
4. Global Hydraulic Cylinders Market Analysis,2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis,2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Hydraulic Cylinders Market, By Function, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
5.1. Double Acting
5.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Single Acting
5.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
6. Global Hydraulic Cylinders Market Forecast, By Design, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1. Tie-Rod Cylinders
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Welded Cylinders
6.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Telescopic Cylinders
6.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. Mill Type Cylinders
6.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
7. Global Hydraulic Cylinders Market Forecast, By Bore Size, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1. Less than 50 mm
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. 51 mm to 100 mm
7.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. 101 mm to 150 mm
7.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Greater than 151 mm
7.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
8. Global Hydraulic Cylinders Market Forecast, By Application, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1. Construction
8.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Aerospace & Defense
8.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Material Handling
8.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Agriculture
8.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Mining
8.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Automotive
8.6.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.6.3. Market Opportunity Analysis
8.7. Oil & Gas
8.7.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.7.3. Market Opportunity Analysis
8.8. Others
8.8.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.8.3. Market Opportunity Analysis
9. Global Hydraulic Cylinders Market Forecast, By Region, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
9.1. North America
9.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Hydraulic Cylinders Market – Opportunity Analysis Index, By Function, Design, Bore Size, Application, and Region, 2022 – 2028
10. North America Hydraulic Cylinders Market Analysis,2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
10.1. Function Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Double Acting
10.1.2. Single Acting
10.2. Design Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.2.1. Tie-Rod Cylinders
10.2.2. Welded Cylinders
10.2.3. Telescopic Cylinders
10.2.4. Mill Type Cylinders
10.3. Bore Size Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.3.1. Less than 50 mm
10.3.2. 51 mm to 100 mm
10.3.3. 101 mm to 150 mm
10.3.4. Greater than 151 mm
10.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. Construction
10.4.2. Aerospace & Defense
10.4.3. Material Handling
10.4.4. Agriculture
10.4.5. Mining
10.4.6. Automotive
10.4.7. Oil & Gas
10.4.8. Others
10.5. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%), and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Hydraulic Cylinders Market – Opportunity Analysis Index, By Function, Design, Bore Size, Application, And Country, 2022 – 2028
10.7. North America Hydraulic Cylinders Market Dynamics – Trends
11. Europe Hydraulic Cylinders Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
11.1. Function Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Double Acting
11.1.2. Single Acting
11.2. Design Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.2.1. Tie-Rod Cylinders
11.2.2. Welded Cylinders
11.2.3. Telescopic Cylinders
11.2.4. Mill Type Cylinders
11.3. Bore Size Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.3.1. Less than 50 mm
11.3.2. 51 mm to 100 mm
11.3.3. 101 mm to 150 mm
11.3.4. Greater than 151 mm
11.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. Construction
11.4.2. Aerospace & Defense
11.4.3. Material Handling
11.4.4. Agriculture
11.4.5. Mining
11.4.6. Automotive
11.4.7. Oil & Gas
11.4.8. Others
11.5. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Rest of Europe
11.6. Europe Hydraulic Cylinders Market – Opportunity Analysis Index, By Function, Design, Bore Size, Application, And Country, 2022 – 2028
11.7. Europe Hydraulic Cylinders Market Dynamics – Trends
12. Asia-Pacific Hydraulic Cylinders Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
12.1. Function Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Double Acting
12.1.2. Single Acting
12.2. Design Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.2.1. Tie-Rod Cylinders
12.2.2. Welded Cylinders
12.2.3. Telescopic Cylinders
12.2.4. Mill Type Cylinders
12.3. Bore Size Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.3.1. Less than 50 mm
12.3.2. 51 mm to 100 mm
12.3.3. 101 mm to 150 mm
12.3.4. Greater than 151 mm
12.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. Construction
12.4.2. Aerospace & Defense
12.4.3. Material Handling
12.4.4. Agriculture
12.4.5. Mining
12.4.6. Automotive
12.4.7. Oil & Gas
12.4.8. Others
12.5. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.5.1. Japan
12.5.2. China
12.5.3. India
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Hydraulic Cylinders Market – Opportunity Analysis Index, By Function, Design, Bore Size, Application, And Country, 2022 – 2028
12.7. Asia-Pacific Hydraulic Cylinders Market Dynamics – Trends
13. Latin America Hydraulic Cylinders Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
13.1. Function Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Double Acting
13.1.2. Single Acting
13.2. Design Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.2.1. Tie-Rod Cylinders
13.2.2. Welded Cylinders
13.2.3. Telescopic Cylinders
13.2.4. Mill Type Cylinders
13.3. Bore Size Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.3.1. Less than 50 mm
13.3.2. 51 mm to 100 mm
13.3.3. 101 mm to 150 mm
13.3.4. Greater than 151 mm
13.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. Construction
13.4.2. Aerospace & Defense
13.4.3. Material Handling
13.4.4. Agriculture
13.4.5. Mining
13.4.6. Automotive
13.4.7. Oil & Gas
13.4.8. Others
13.5. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Function, Design, Bore Size, Application, Y-o-Y Growth (%), and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Argentina
13.5.4. Rest of Latin America
13.6. Latin America Hydraulic Cylinders Market – Opportunity Analysis Index, By Function, Design, Bore Size, Application, And Country, 2022 – 2028
13.7. Latin America Hydraulic Cylinders Market Dynamics – Trends
14. Middle East and Africa (MEA)Hydraulic Cylinders Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
14.1. Function Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. Double Acting
14.1.2. Single Acting
14.2. Design Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.2.1. Tie-Rod Cylinders
14.2.2. Welded Cylinders
14.2.3. Telescopic Cylinders
14.2.4. Mill Type Cylinders
14.3. Bore Size Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.3.1. Less than 50 mm
14.3.2. 51 mm to 100 mm
14.3.3. 101 mm to 150 mm
14.3.4. Greater than 151 mm
14.4. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. Construction
14.4.2. Aerospace & Defense
14.4.3. Material Handling
14.4.4. Agriculture
14.4.5. Mining
14.4.6. Automotive
14.4.7. Oil & Gas
14.4.8. Others
14.5. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Function, Design, Bore Size, Application, Y-o-Y Growth (%), and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. Israel
14.5.3. South Africa
14.5.4. Rest of MEA
14.6. MEA Hydraulic Cylinders Market – Opportunity Analysis Index, By Function, Design, Bore Size, Application, and Country, 2022 – 2028
14.7. MEA Hydraulic Cylinders Market Dynamics – Trends
15. Competition Landscape 
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Design& Service Offerings, Key Developments, Strategies, and SWOT Analysis)
15.2.1. Actuant
15.2.2. Bosch Rexroth
15.2.3. Eaton Corp. Plc
15.2.4. KYB Corporation
15.2.5. Parker Hannifin
15.2.6. Wipro Enterprises
15.2.7. Bucher Industries AG
15.2.8. Caterpillar Inc.
15.2.9. SMC Corporation
15.2.10. Jiangsu Hengli Hydraulic
16. Research Methodology
17. Key Assumptions and Acronyms

Report

Company Profile

  • Actuant
  • Eaton
  • Enerpac Tool Group.
  • Hengli Group Co., Ltd
  • Bosch Rexroth
  • Eaton Corp. Plc
  • KYB Corporation
  • Parker Hannifin
  • Wipro Enterprises
  • Bucher Industries AG
  • Caterpillar Inc.
  • SMC Corporation
  • Jiangsu Hengli Hydraulic

Description

The hydraulic cylinders market is estimated to be valued at USD 14,075.0 Million in 2021 and is expanded to grow at a significant CAGR of 4.3% over 2022-2028. A broad range of product offerings from market players is driving the market. For instance, leading players in the hydraulic cylinders market like Enerpac Tool Group, Eaton, and Parker Hannifin, are offering a broader range of product portfolios, which is expected to increase customer access in different applications and is anticipated to drive the market during the forecast period. Increasing demand for new products from various end-users and continuous development of new products and product launches are paramount factors to drive the market over the forecast period. Growing demand for oil & gas propels the market, and the agriculture industry offers lucrative opportunities. Hydraulic cylinders strive to have distinct market recognition and increase the customer base across the globe. In order to do that, manufacturers are offering integrated solutions containing cylinders and ancillary products like pumps, valves, filters, hoses, and connectors. Furthermore, hydraulic cylinder companies are developing apprenticeship programs. For instance, Bosch Rexroth implemented an apprenticeship program to focus on manufacturing hydraulic systems, including cylinders; EATON Hydraulics developed three separate apprenticeship programs in cooperation with the Minnesota Office of Apprenticeship and the U.S. Department of Labour. In the hydraulic cylinders market, in 2021, the double-acting hydraulic cylinders segment accounted for a larger revenue share and is anticipated to grow with a CAGR of 4.2% from 2022 to 2028 to reach USD 13,928.6 Mn by 2028. Owing to the retraction property of these cylinders, they are used in aerospace, automotive, agriculture, and several other industries. Double-acting hydraulic cylinders have a higher demand in mobile applications such as lifting equipment, earth moving equipment, and forklifts. These cylinders are suitable in presses and chippers for opening and closing drawers and raising and lowering devices such as excavators and cranes.

Recent Market Developments:

In January 2022, Eaton announced it has completed the acquisition of Royal Power Solutions, a U.S.-based manufacturer of high-precision electrical connectivity components used in electric vehicle, energy management, industrial and mobility markets.

In December 2020, Wipro Infrastructure Engineering’s Industrial Automation Business signed a definitive agreement to acquire PARI, India’s largest industrial automation company. The combined strength of Wipro and PARI is expected to expand its offering, broaden its global footprint, and strengthen its ability to furnace deeper customer relationships in India and overseas.

ASIA PACIFIC OFFICE

Precision Business Insights, 5th Floor, Mohan’s Elite, Opp : Bharat Petroleum Pump, Khanamet Road, Hitech City, Hyderabad – 500084

EUROPE OFFICE

Precision Business Insights, Kemp House, 152 – 160 City Road, London EC1V 2NX