Market Overview:
The Hydraulic Cylinder Market size is estimated to reach $19.5 billion by 2030, growing at a CAGR of 5.1% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Hydraulic Cylinder Market – By Type (Single-acting cylinder, Double-acting cylinder, Tandem Hydraulic Cylinder, Telescopic Hydraulic Cylinder and others), By End-users (Agriculture, Energy Industry, Construction Equipment (Engineering Vehicles), Manufacturing Machinery, Civil engineering, Metal extraction, Mining, Industrial tools, Aerospace and Defense, Automobiles and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Increased industrialization and the rising adoption of hydraulic systems in construction equipment are fueling the growth of the Hydraulic Cylinder industry during the forecast period.
APAC Dominated the Market in 2023:
The Asia-Pacific region holds the highest market share for hydraulic cylinders. This region has become a critical hub for Western markets, as they increasingly outsource hydraulic cylinder manufacturing to countries like China and India. The rapid economic and infrastructural growth in these emerging economies has driven significant demand for hydraulic cylinders over the past five years. India and China, in particular, are key players, with India’s hydraulic cylinder market experiencing consistent growth of over 20%. This surge in demand is fueled by the expanding industrial base and infrastructure development, positioning Asia-Pacific as a pivotal region for the hydraulic cylinder industry.
Hydraulic Cylinder Market: Key Takeaways
The Rising Demand for Material Handling Equipment:
The rising demand for material handling equipment in the food and beverage industry is driving direct demand for conveyor belts and organizational systems that support the installation of hydraulic cylinders. Additionally, the growing adoption of small-scale, energy-efficient, and low-maintenance equipment across industries such as manufacturing, chemicals, and agriculture is further propelling the market. Manufacturers are poised to benefit from this trend as the demand for management equipment contributing to economic development continues to expand globally. The increasing need for small cranes, high-end forklifts, and agricultural machinery is expected to boost production demand in the coming years. Furthermore, population growth and the heightened demand for high-quality agricultural equipment will accelerate the need for hydraulic cylinders, reinforcing market growth.
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Increased Infrastructure Development:
The surge in infrastructure development, particularly in emerging markets, is a major driver of the hydraulic cylinder industry. Large-scale projects such as road construction, bridges, and urban development require heavy machinery like excavators, bulldozers, and cranes that depend on hydraulic systems. With governments in regions like Asia-Pacific and Latin America investing heavily in infrastructure to support economic growth, the demand for construction equipment—and, by extension, hydraulic cylinders—has seen a significant boost. This driver is expected to sustain market growth over the forecast period, as ongoing infrastructure projects continue to rely on high-performance hydraulic systems for their successful completion.
Scope of the Report:
Recent Developments:
- In May 2023, Miller Industries, Inc. acquired Southern Hydraulic Cylinder, Inc., enhancing supply chain stability and reducing lead times. The strategic move aligns with Miller's commitment to vertical integration and operational excellence, fostering economic growth in the Chattanooga community.
- In December 2022, Liebherr-Components Kirchdorf GmbH is expanded its operations with the construction of a new plant in Oberopfingen, Germany, consolidating hydraulic cylinder production for enhanced efficiency and growth. The expansion includes the construction of three halls for logistics, mechanical production, and administrative functions, aiming for completion by spring 2025.
Hydraulic Cylinder Market: Competitive Landscape
Key companies profiled in the Hydraulic Cylinder Market are Bosch Rexroth, Hydroline Oy, Eaton Corporation plc, Parker Hannifin, HYDAC International GmbH, Standex International, SMC corporation, Larsen & Toubro Limited, Tokyo Keiki U.S.A., Inc., Bailey International LLC and others.
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