Global Hydraulic Cylinder Market is segmented By Type (Single-Acting Hydraulic Cylinders, Double-Acting Hydraulic Cylinders), By Specification (Tie-Rod Hydraulic Cylinder, Welded Hydraulic Cylinders), By Application (Automotive, Marine, Aerospace & Defence, Mining, Oil & Gas, Agriculture and Farming, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Size
Global Hydraulic Cylinder Market reached USD 14.9 billion in 2022 and is expected to reach USD 18.9 billion by 2030, growing with a CAGR of 4.3% during the forecast period 2024-2031. A shift toward automation and mechanization in industries drives the demand for hydraulic cylinders to power machinery and equipment.
Growing investments in infrastructure projects, such as roads, bridges and buildings, lead to an increased need for hydraulic cylinders in construction equipment.
Asia-Pacific is expected to grow at a significant CAGR during the forecast period 2024-2031. The leading companies in the region are expanding their capacity for the production of hydraulic cylinders in the region. For instance, on 22 April 2021, Liebherr, a global manufacturing company, newly established assembly line in China Liebherr manufactures hydraulic cylinders directly in Asia specifically for the Chinese market. The hydraulic cylinders produced in the Dalian plant cater to various applications, such as construction machinery and plant engineering.
Market Scope
| Metrics | Details |
| CAGR | 4.3% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Specification, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Equipment Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
To Get a Free Sample Click here
Market Growth and Trends
Rising Demand in Construction Industry
Hydraulic cylinders offer a wide range of capabilities which makes them versatile tools in construction applications. It also provide powerful linear force and precise control which makes them suitable for tasks such as lifting heavy loads, pushing and pulling materials and operating heavy machinery like excavators and cranes.
For instance, on 31 January 2023, RS Series Demolition Crushers which are designed for primary demolition work the RS Series crushers come with two hydraulic cylinders for primary crushing. As they are specifically built for crushing concrete while minimizing noise and vibrations. The RS crushers provide a full 360° rotation for precise positioning and they feature a robust Hardox-Weldox structure, reversed cylinders for cylinder rod protection and a pressure relief valve.
Rising Demand in Automotive Industry
The automotive industry has witnessed a growing demand for advanced suspension systems that offer a balance between comfort and handling. Hydraulic cylinders are extensively used in suspension systems that provide adaptive damping and improved ride quality, which enhance the overall driving experience.
Growth in safety standards continues to evolve automakers are incorporating more active safety features in vehicles. Hydraulic cylinders are utilized in systems such as electronic stability control and active rollover protection that contribute to enhancing vehicle stability and accident prevention.
Impacts on Environment
Hydraulic cylinders are not suitable for high-speed applications. The speed of a hydraulic cylinder is limited. High-speed operations can lead to fluid friction, heat generation and potential damage to the system. Excessive heat affects the hydraulic system including fluid degradation and reduce system efficiency.
Hydraulic systems often use hydraulic fluid, which is harmful to the environment if not handled properly. Spills or leaks can contaminate soil and water sources which leads to damaging the atmosphere. Hydraulic fluids contain various chemicals and additives that, if released into the environment, can harm plants, animals and aquatic life.
Market Segment Analysis
The global hydraulic cylinder market is segmented based on type, specification, application and region.
Growing Demand for Hydraulic Steering in Marine Industry
Marine application is expected to hold around 1/4th of the global hydraulic cylinders market in 2022. Hydraulic cylinders provide a high level of power and efficiency which makes them suitable for heavy-duty marine applications. It can handle large loads and provide smooth and precise movements which are crucial for tasks like steering, stabilizing and lifting in the marine industry. As they are also known for their durability which makes them well-suitable for marine environments.
For instance, on 19 January 2023, Yamaha Marine has introduced new models for 2023, including the F150, F175 and F200 with innovative integrated steering and sleek design.The new F150, F175 and F200 outboards feature two options for integrated steering. The first is the Integrated Digital Electro-Hydraulic Steering which offers smooth and responsive steering with customizable settings. The second option is Integrated Hydraulic Steering provides the precision of hydraulic steering while being enclosed within the engine design for enhanced durability.
Market Geographical Share
Government Collaborations Boost the Market Growth
Asia-Pacific is expected to dominate the global hydraulic cylinder market holding a share of about 1/3rd during the forecast period 2024-2031. The region witnessed various collaborations for developments across various industries. Governments in the region are promoting industrial growth through various policies and investments. The initiatives create a conducive environment and boost growth for the hydraulic cylinder market.
For instance, on 26 August 2022, Wipro Infrastructure Engineering signs a Memorandum of Understanding (MoU) with the Government of Rajasthan to establish a state-of-the-art manufacturing facility in Jaipur for hydraulic cylinders and related products. The proposed investment for this facility is approximately INR 200 crores and it is expected to meet the high-quality standards required by global customers.
Market Companies
The major global players include Eaton Corporation, Bailey International, Caterpillar, Hannon Hydraulics LLC, Texas Hydraulics, Prince Manufacturing Corporation, Parker-Hannifin Corporation, Ligon Industries, Precision Hydraulics and Aggressive Hydraulics.
COVID-19 Impact Analysis
The pandemic led to disruptions in the global supply chain, affecting the availability of raw materials and components needed for manufacturing hydraulic cylinders. Travel restrictions, factory closures and reduced production capacities in various countries contributed to delays and shortages. The pandemic caused economic uncertainties and leads to a decrease in demand for industrial equipment, including hydraulic cylinders.
Many construction projects, manufacturing activities and other industrial operations were put on hold or delayed, resulting in lower demand for hydraulic cylinders. While some industries face a significant decline in demand for hydraulic cylinders, other industries saw an increment. For example, the demand for hydraulic cylinders used in medical equipment, such as hospital beds and ventilators, surged during the pandemic to meet the healthcare sector's needs.
AI Impact
AI-powered sensors and analytics can monitor the performance of hydraulic cylinders in real-time. By analyzing data on factors like temperature, pressure and vibration, AI algorithms can predict potential issues or failures before they occur. The predictive maintenance approach helps to prevent unplanned downtime, reduces maintenance costs and enhances overall system reliability.
AI optimizes the overall performance of hydraulic systems by adjusting parameters such as flow rate, pressure and valve timing. AI algorithms analyze various inputs and determine the most efficient settings for different operating conditions, which leads to improved energy efficiency and provides better overall performance.
Russia- Ukraine War Impact
Restrictions on trade and transportation between these two countries disrupt the supply chain for hydraulic cylinder components and raw materials. Manufacturers face challenges in obtaining necessary parts or materials from either Russia or Ukraine which leads to delays and increased costs.
Geopolitical tensions between these two countries create uncertainty in the global market witnessing fluctuations in currency exchange rates and commodity prices. The volatility affects the cost of hydraulic cylinders and related components that impacts manufacturers and consumers.
Key Developments
- On 17 January 2023, SICK introduced the DAX linear encoder product family, designed for high-precision detection of piston positions in hydraulic cylinders and monitoring linear movements in various industrial machines. The product family offers three designs with industry-appropriate measuring ranges providing flexibility for numerous applications.
- On 28 April 2022, Japanese company Daikin Industries, Ltd. entered into a share purchase agreement with Italian hydraulic equipment manufacturer, Duplomatic MS S.p.A, for an acquisition price of 220 million euros.
- On 12 January 2021, Weber-Hydraulik cylinder moves the biggest mobile cranes across the world and also known for producing hydraulic cylinders, these hydraulic cylinders are important components of mobile cranes and allow them to lift and move heavy loads.
Why Purchase the Report?
- To visualize the global hydraulic cylinder market segmentation based on type, specification, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of hydraulic cylinder market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global hydraulic cylinder market report would provide approximately 61 tables, 59 figures and 181 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
