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Hydraulic Cylinder Market, By Function (Single Acting, Double Acting), By Bore Size (Cylinder Diamet

Published Date: August 2020 | Report Code : EP2062857

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Hydraulic Cylinder Market, By Function (Single Acting, Double Acting), By Bore Size (Cylinder Diameter Less Than 120mm, Cylinder Diameter Between 120mm-180mm, Cylinder Diameter More Than 180mm), By Product (Tie-Rod Cylinders, Welded Cylinders, Telescopic Cylinders, Mill Type Cylinders), By Application (Industrial, Mobile), By Industry (Construction, Aerospace & Defense, Material Handling, Agriculture, Mining, marine and shipyard industry, Automotive, Oil & Gas, Others) and By Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America)–Market Size & Forecasting To 2028

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Domain : Energy

Report Code : EP2062857

Status : Published August 2020

The Global Hydraulic Cylinder Market is expected to attain USD XX million by 2028, at a CAGR of XX% from USD XX million in 2019. The key factors that are propelling the growth of the market for hydraulic cylinders include rising usage in the mining industry and increasing demand from the construction industry. In addition, the growing demand for manufacturing processes is also driving the market growth of hydraulic cylinders.

The demand for hydraulic cylinders will be generated by increased demand for advanced agricultural machinery, along with the growing population. In addition, the market environment will be further influenced by expanding infrastructural growth in emerging economies. For example, in June 2018, according to the India Brand Equity Foundation, the Asian Infrastructure Investment Bank announced that it would invest USD 200 million towards India's National Investment & Infrastructure Fund.

The growing use of drilling and cracking equipment for shale oil and gas exploration  and production will stimulate the development of the industry in the near future. Some of the critical operations that can be performed by offshore heavy machinery in extreme conditions are the removal of debris, sand, storage, and saltwater, which in turn, would push the market for them more than others.

COVID-19 has become a worldwide pandemic that has spread across more than 200 countries around the world and has disrupted different industries worldwide. The dynamics used by different industries to work are expected to change dramatically. Multiple businesses continue to experience a constant downturn as the world struggles to combat this crisis.

The market is likely to be impacted by a sharp slowdown in economic growth from end-use industries like automotive, aerospace, building, oil & gas, and others. As the COVID-19 pandemic lowers production performance as well as consumer trust, the market for hydraulic cylinders from such sectors has been declining.

In FY2020, overcapacity due to lower demand from most of these industries is projected to decrease average profit margins. The on-site deployment of staff for operations that cannot be conducted remotely and the need for hydraulic cylinders due to the global economic downturn are affected by the pandemic in industries including aerospace & defense, automotive, manufacturing, and oil & gas. It is expected that all these factors will adversely affect the development of the global demand for hydraulic cylinders.

The hydraulic cylinder market is segmented on the basis of function, bore size, product, application, and Industry. Based on function, the market is divided into single acting and double acting. The double acting cylinder was estimated to dominate the market with a significant market share in 2019. The future of the market will be influenced by the growing use of steam engines along with ongoing efforts to deploy energy-efficient equipment across different industries.

In addition, demand is expected to further surpass the areas where working fluid operates on the both sides of the piston alternately, such as forklifting, earth moving machinery, and heavy trucks among others. The simplistic design is the key benefit of a single-acting cylinder. The construction of these items will be driven by the increasing demand for material handling systems in the food & beverage industry to produce linear motion for the conveyor belts and assembly lines. Further, the industry outlook will be favored by the emission less, low maintenance, and energy-efficient equipment to ensure proper functioning across multiple industries, including manufacturing, F&B and chemical.

Based on the bore size, the market has been divided in cylinder diameter less than 120mm, cylinder diameter between 120mm-180mm, and cylinder diameter more than 180mm. Among these, cylinder diameter less than 120mm is anticipated to dominate the market during the forecast period. The cylinder diameter between 120 mm-180 mm is estimated to be the second largest bore size with growing application base in heavy construction equipment. The wider the bore, the more it is able to lift or push. It is the inner diameter of the cylinder housing that is equal to the piston diameter within the cylinder.

Based on the product, the market is divided into tie-rod cylinders, welded cylinders, telescopic cylinders, and mill type cylinders. Among these, the tie rod cylinder is expected to grow with the fastest CAGR during the forecast period. The trends of the industry would be increased by the growing use of agricultural machinery for farming to speed up the production potential in line with the increasing population rate. For example, according to the International Trade Administration, with 220 million hectares of land, Russia's agricultural industry has the potential to stimulate economic growth.

The welded cylinder segment is estimated at USD XX million in 2020 and is projected to reach USD XX million by 2028, at a CAGR of XX % between 2020 and 2028.  This segment is expected to rise due to increased deployment of industrial machinery at the project site to efficiently operate the ongoing activity along with heavy investments across the mining industry.

Based on application, the market has been divided into industrial and mobile. The mobile segment is expected to grow with a CAGR of XX% during the forecast period. The demand for the item will be driven by increasing investment, mostly in the chemical industry, to satisfy the need for linear motion. In addition, increasing construction activities would drive product penetration due to rising urbanization.

Moreover, the continuous growth in investments throughout the food & beverage industry to meet the rising demand from customers would raise hydraulic cylinder installations across industries. For example, the overall value of the food & beverage industry in Germany reached USD 46,232 million in 2017, according to the UNIDO (United Nations Industrial Development Organization). This is expected to have a positive impact on the growth of the market.

Based on the industry, the market has been divided into construction, aerospace & defense, material handling, agriculture, mining, marine & shipyard industry, automotive, oil & gas, and others. Among these, the marine and shipyard industry is expected to grow with a significant CAGR during the forecast period. Dockyards typically contain multiple shipping containers of varying sizes and weights, which are piled hundreds of feet high throughout the shipping industry.

Lifting systems are used to carry these large containers. Shipping, which promotes foreign trade, is the most important mode of transportation worldwide. From electronics, cars, textiles, raw metals, to oil & gas, the majority of products are shipped by ships around the world. The growth of the shipping industry is driven by economic and technological factors, like the acceptance of industrial IoT and government funding. The need for lifting equipment at ports is fueled by the growing shipping industry. The increase in demand for lifting machines is also likely to boost the hydraulic cylinders used in these machines.

Regional Outlook:

Region-wise, the worldwide hydraulic cylinder market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America was predicted to hold significant position in the global hydraulic cylinder market in 2019. Growing investment throughout the construction sector is expected to the fuel the demand for technology over the forecast period. Furthermore, growing government efforts to boost the aerospace and defense industries would increase product penetration in the region.

In Europe, growing investment in the food & beverage industry, along with the increasing domestic demand for packaged food, is anticipated to propel the growth of the hydraulic cylinder industry. Additionally, the growing number of large-scale industries including aerospace, defense & military, petrochemical, and construction has increased the need for the deployment of material handling equipment, which in turn, will further drive the business dynamics.

However, during the forecast period, the hydraulic cylinder market in APAC is expected to rise at the highest CAGR. The growth of this regional hydraulic cylinder market is fostered by the growing demand for agricultural, building, and mining equipment in APAC. Some of the huge manufacturing centers for hydraulic cylinders are in countries like China, Japan, and India.

Competitive Landscape

The competitive scenario highlights the performance of the major companies operating in the hydraulic cylinder market. This includes the detailed profiling of major companies and their competitive benchmarking. Product profiling provides key information including products/solutions offered, key developments, company performances, and strategies adopted in recent years.

The major companies profiled in the market include Enerpac Tool Group, Bosch Rexroth, Caterpillar, Eaton, KYB Corporation, Parker-Hannifin Corporation, SMC Corporation, Jiangsu Hengli Hydraulic, Wipro Enterprises, HYDAC, Burnside Autocyl, JARP Industries, Kappa Engineering, Ligon Hydraulic Cylinder Group, Marrel, Pacoma, Prince Manufacturing, Standex International, Texas Hydraulics, Weber-Hydraulik, Holmatro, and Aggressive Hydraulics, Inc., among others.

Additionally, the competitive landscape provides a detailed description of each company including future capacities, financial overview, key mergers & acquisitions, partnerships, collaborations, new product developments, new product launches, and other latest industrial developments.

What Does This Report Provide?

This report provides a detailed understanding of the global hydraulic cylinder market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Function

  • Single Acting
  • Double Acting

By Bore Size

  • Cylinder Diameter Less Than 120mm
  • Cylinder Diameter Between 120mm-180mm
  • Cylinder Diameter More Than 180mm

By Product

  • Tie-Rod Cylinders
  • Welded Cylinders
  • Telescopic Cylinders
  • Mill Type Cylinders

By Application

  • Industrial
  • Mobile

 By Industry

  • Construction
  • Aerospace & Defense
  • Material Handling
  • Agriculture
  • Mining
  • Automotive
  • Oil & Gas
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Function
    • By Bore Size
    • By Product
    • By Application
    • By Industry
  • Europe
    • By Country (Russia, Germany, UK, France, Italy, Spain, Rest of Europe)
    • By Function
    • By Bore Size
    • By Product
    • By Application
    • By Industry
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Function
    • By Bore Size
    • By Product
    • By Application
    • By Industry
  • Middle East and Africa
    • By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East and Africa)
    • By Function
    • By Bore Size
    • By Product
    • By Application
    • By Industry
  • South America
    • By Country (Argentina, Brazil, Rest of South America)
    • By Function
    • By Bore Size
    • By Product
    • By Application
    • By Industry

Reasons to Buy This Report:

  • Market size estimation of the hydraulic cylinder market on a regional and global basis
  • Unique research usage for market size estimation and forecasts
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments, helping every stakeholder in the market

 Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact: [email protected]

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