Asia-Pacific Hydraulic Cylinder Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2372 | Last Updated On: Jul 04 2022 | Available Formats

> Asia-Pacific Hydraulic Cylinder Market Expected to reach at a high CAGR by 2029: DataM Intelligence

Asia-Pacific Hydraulic Cylinder Market is segmented By Product Type (Single-Acting Hydraulic Cylinders, Double-Acting Hydraulic Cylinder), By Specification (Tie-Rod Hydraulic Cylinder, Welded Hydraulic Cylinder), By Application (Automotive, Marine, Aerospace Defense, Mining, Oil & Gas, Agriculture and Farming, Others), and By Region (China, India, Japan, Australia, Rest of Asia Pacific) Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The "Asia-Pacific Hydraulic Cylinder Market" is expected to grow at a high CAGR during the forecasting period (2022-2029).

Power and reliability, associated with minimal operating costs, make hydraulic cylinders the preferred choice for a host of mobile and industrial applications.

Availability of alternative technologies such as pneumatic and electrical drives, hydraulic cylinders remain the most efficient method for maximizing output, particularly in high-pressure applications such as metal stamping and forming and heavy mobile equipment applications.

The hydraulics industry trend to combine hydraulic cylinders and electronics has led to increased accuracy, enhanced functionality, improved ease-of-use, and controlled performance. This integration has expanded the scope of applications and helped stave off competition from alternative technologies.

Hydraulic equipment relies on the efficient conversion of hydraulic energy into mechanical energy.

Asia-Pacific is expected to hold approximately 18% of the global hydraulic cylinder market share in 2018 and grow at a CAGR of 5.28% during 2020-2027.

 With their skilled and low-cost labor, China and India have become outsourcing hubs for some global hydraulic cylinder manufacturers. Low-cost imports from Asia-Pacific countries are now impacting the competitiveness of businesses in North American and Europe.

Over the past several decades, the importance of and demand for hydraulic equipment in mobile and industrial applications has witnessed a considerable boost due to hydraulics' ability to accomplish work with only a small amount of input force.

Some manufacturers are increasingly offering integrated hydraulic cylinder systems and complete solutions to differentiate themselves in a mature market and obtain profitable maintenance and aftermarket service contracts. Customers are embracing such solutions to simplify their supply channel management and reduce overall operational costs.

The hydraulics industry trend to combine hydraulic cylinders and electronics has led to increased accuracy, enhanced functionality, improved ease-of-use, and controlled performance. This integration has expanded the scope of applications and helped stave off competition from alternative technologies.

Market Dynamic

A key factor driving growth in hydraulic cylinders is the expanded number of applications for material handling equipment.

Material handling equipment such as electronic overhead traveling cranes levels, luffing cranes, and stackers are being increasingly used across various industries, including oil refineries, power & energy, food & beverage, and retail.

Increasing establishments of new manufacturing facilities to cater to necessary market demand from associate countries to India and China is the primary factor leading to increased material handling equipment sales.

The sector is dominated by agro-processing, automotive, chemicals, information and communication technology, electronics, metals, textiles, clothing, and footwear.

It is forecasted that the manufacturing industry in India, China, Vietnam is expected to double its output by 2025, further boosting the market for material handling equipment and hydraulic cylinders in Asia-Pacific during the forecast period.

Increasing demand for material handling equipment for coal mining, diamond mining, bulk handling, and equipment for open cast mines, including equipment for drilling, hydraulic, communication, and electrical equipment, is expected to boost the hydraulic market cylinders in Asia-Pacific during the forecast period.

Additionally, increasing establishments of new warehouses by the e-commerce giants to tackle the ongoing demand for online shopping and growing demand for necessary handling equipment for the movement of goods is expected to drive hydraulic cylinders' market Asia-pacific during the forecast period 2020-2027.

Market Segmentation

By Type

The Agriculture & Framing Segment in the hydraulic cylinder market was valued at USD XX million in 2018. The market is estimated to grow at a CAGR of XX% in the forecast period to reach a market value of USD XX million by 2027.

Hydraulic equipment is broadly used in agricultural equipment production, including tractors, combine harvesters, loaders, hay balers, mulching machines, and lawn & garden equipment such as mowers.

The majority of the countries in Asia-Pacific dependent on agricultural activities are experiencing huge investments by the corporate farming communities in new machinery to increase productivity through minimal labor force.

The farm equipment manufacturers' increasing innovations in compact machinery and community-friendly and fail-proof autonomous machinery might increase the huge demand for custom hydraulic cylinders across the Asia-pacific region during the forecast period 2020-2027.

Increasing investments by the farming communities in high-powered combine harvesters to improve the harvesting time coupled with rising demand for necessary supporting systems to handle the movements of respective machinery is expected to produce huge demand for hydraulic cylinders globally the forecast period.

The key players providing hydraulic cylinders about agriculture and farming applications include Pacoma GmbH, Suvera, and many other regional and global companies.

By Country

The India Hydraulic Cylinder market was valued at USD XX million in 2019, which is around XX% of total center pivot irrigation systems market value and is expected to grow at a CAGR of XX% during the forecast period to reach a market value of USD XX million by 2027.

India is one of the fastest-growing countries Across the Asia-Pacific region, and the country is observing growing new industrial establishments, automotive sales, construction, and gas exploration activities.

Increasing industrial establishment activities across the country coupled with rising demand for high material handling equipment for the production activities are expected to boost huge demand for hydraulic cylinders across India during the forecast period.

The automotive segment is expected to dominate the Indian hydraulic cylinder market due to the automotive industries' presence with equal growth potential and rising demand for innovative and customized hydraulic cylinders for high-end machinery.

The key players operating in the India Hydraulic cylinder market include Parker Hannifin, Suvera, HAWE Hydraulics India, Pannar Industries, among many other regional and global companies.

The key players in India's Hydraulic cylinder market focus on improving their production capabilities to meet the goring demand for hydraulic cylinders both globally and in India during the next few years.

  • In April 2019, Engineering products company Pennar Industries initiated a new production plant in Chennai to increase its production capacity to 200,000 units per year from its current 75,000 units to cater to domestic and global demand.

Why purchase the report?

  • Visualize the Asia-Pacific Hydraulic Cylinder Market's composition across each indication in By Product Type, By Specification, By Application, and By Region, highlighting the key commercial assets and players.

  • Identify commercial opportunities in Asia-Pacific Hydraulic Recloser Controller by analyzing trends and co-development deals.

  • This is the most comprehensive study on Asia-Pacific Hydraulic Recloser Controller to date.

  • Excel data sheet with thousands of data points of the Asia-Pacific Hydraulic Cylinder Market– level 4/5 segmentation

  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

  • Product mapping in excel for the key Hydraulic Recloser Controller products of all major market players

Target Audience

  • Raw Material Suppliers/ Buyers

  • Product Suppliers/ Buyers

  • Industry Investors/Investment Bankers

  • Education & Research Institutes

  • Research Professionals

  • Emerging Companies

  • Manufacturers

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