Industry: Industrial Automation
Published Date: June-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 143
Report ID: PMRREP4713
The global market for hydraulic cylinder is anticipated to rise from US$14.8 Bn in 2024 to US$21.5 Bn by the end of 2031. The market for hydraulic cylinders is expected to hold a CAGR of 5.5% during the projection period from 2024 to 2031.
Key Highlights of the Market
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Attributes |
Key Insights |
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Hydraulic Cylinder Market Value (2024E) |
US$14.8 Bn |
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Projected Market Value (2031F) |
US$21.5 Bn |
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Forecast Growth Rate (CAGR 2024 to 2031) |
5.5% |
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Historical Growth Rate (CAGR 2019 to 2023) |
3.1% |
Hydraulic cylinders are often used in various applications such as lifting, pushing, pressing, and pulling. The main purpose of using these cylinders is to provide exceptional force in construction activities.
The hydraulic cylinder works based on Pascal's principle, which states that the pressure is equal to the force and is divided by the area on which it operates. When pressure is applied to a piston, it produces an equal boost in pressure on the second piston in the cylinder system.
These cylinders were developed to withstand high pressures and challenging conditions. They offer seamless precision, less maintenance, reliable motion, and a longer lifespan.
Hydraulic cylinders are ideal for applications where space is limited. They offer significant control and enable accurate movement and positioning of objects.
The advances in this field, such as the development of hybrid actuator systems (HAS), are propelling market growth. These systems are particularly suited for challenging power generation applications like solar panels, hydroelectric dams, and wind turbines.
Furthermore, the integration of sensors in HAS has efficiently eliminated the requirement of intricate gun drilling and exposed external sensors, which has significantly improved efficiency and reduced hydraulic cylinder repair and maintenance costs.
The hydraulic cylinder market was valued at over US$14 Bn in 2023 and showed a healthy CAGR of 3.1% up from 2019. This steady market growth is attributed to its widespread use in several construction applications.
Hydraulic cylinders are commonly used in several building machines, such as forklifts, bulldozers, and loaders, which has increased the demand for hydraulic cylinder parts manufacturing.
The increased use of hydraulic cylinder tools in various equipment such as trenchers, shears, compactors, augers, and concrete is boosting the demand for hydraulic cylinders.
With these myriad applications and their ability to supply power loads, sales of hydraulic cylinders are likely to increase.
While the market's historical CAGR was merely 2.1%, the anticipated CAGR through 2033 is 5.5%, which is more than twice the previous CAGR. This difference clearly showcases the promising potential of hydraulic cylinders to perform efficiently in harsh conditions.
With the market anticipated to show above-average growth potential, the hydraulic cylinder competitors are willing to grow their presence.
Hydrosila Group, the leading Ukrainian hydraulic manufacturer, is also expanding its production to Poland, aiming to increase hydraulic supply to Germany's assembly plants and optimize logistics processes.
Rising Urbanization, and Demand from Construction Industry
The increasing urbanization and construction projects are propelling the rate of hydraulic cylinders for sale across the world. Increasing investments in APAC and rebounding European facilities are some of the major factors boosting the demand for hydraulic cylinders in construction.
Rising urbanization in larger countries such as China, Indonesia, India, and Nigeria is driving infrastructure investments.
Developing countries, like India and China, have several infrastructure development projects in pipelines that are expected to boost the market in the upcoming years.
The hydraulic cylinders offer significant resistance to corrosion, abrasion, harsh temperatures, and extreme weather conditions. These advantages are increasing their demand in the construction industry.
Further, the availability of hydraulic cylinder rebuild options in construction offers more powerful and efficient operation.
This also saves on expenses and oil consumption. The use of hydraulic cylinder rebuild kits offers more benefits, driving the market growth significantly.
Growing Interest in Pneumatic Cylinders
While hydraulic cylinders are popular for their expansive applications in several industries, customer interest in pneumatic cylinders over hydraulic cylinders can hinder market growth.
Pneumatic cylinders feature a simple design and offer more precise operation for creating effective linear motion. Their compact size and higher operation speed compared to hydraulic cylinders have made them a popular tool in several construction projects.
Introduction to pneumatic cylinders equipped with electronic monitoring systems enables efficiency in their performance, making them ideal for
Integration of pneumatic cylinders with electronic monitoring systems allows for versatile advancements in their operation, making them suitable for timely monitoring, higher efficiency, and productivity on the construction floor.
Its small size and higher speed are the other features that are popular among consumers, which also save on the cost of more machines.
All these benefits of pneumatic cylinders over hydraulic cylinders are impacting the demand for hydraulic cylinders.
Fluctuating Prices of Raw Materials
Inconsistent prices of raw materials in the multinational market used in the production of hydraulic or lifting cylinders is a major challenge that is impending the hydraulic cylinder market expansion.
The sale of hydraulic cylinder parts such as hydraulic rams and hydraulic pistons is the factor that pushes the market growth.
However, these parts require assessment that creates supply disruption in the market and impacts the sale of hydraulic systems and their consumption.
Further, stringent government regulations on raw materials and oils focus on lowering the environmental impact of the market. However, eco-friendly fluids are more expensive than traditional fluids.
Use of these fluids again contributes to the increase in costs for materials used in manufacturing processes.
Escalating Demand for Lifting Equipment within Shipping Industry
Construction sites often encompass a wide array of shipping containers to lift the equipment. These containers come in varied sizes and weights and have a height of hundreds of feet.
These huge containers are available in 20, 40, 45, 48, and 53-foot sizes while having a capacity of 30 to 42 tons.
Shipping is a primary mode of transportation worldwide among the construction industries. To ship these containers, lifting equipment is utilized, which simplifies the transport in international trade.
The increasing popularity of this lifting equipment in the shipping industry has increased the demand for hydraulic cylinders.
Further, the integration of industrial IoT and efforts of government bodies are propelling the expansion of the shipping industry by fueling the use of lifting equipment at ports.
As the adoption of lifting equipment is in its developing stage, it is likely to increase in the coming years, hence the rise in demand for hydraulic cylinders.
|
Category |
CAGR (2024-2033) |
|
Welded Rod Hydraulic Cylinder |
6.6% |
Welded Rod Hydraulic Cylinders Benefit from the Compact and Lightweight Trend
Based on product types, welded rod hydraulic cylinder sales are expected to reach a CAGR of 6.6% during the projection period.
In applications where lightweight and compactness are paramount, welded rod hydraulic cylinders are the feasible option.
With their small size, these welded rod hydraulic cylinders offer the ability to withstand the harsh welding construction environment, which makes them perfect for heavy-duty applications.
They are also suitable for various applications such as production, maritime, and offshore conditions due to their durability and higher performance.
|
Country |
Market Size (2023) |
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China |
US$3,200.0 Mn |
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UK |
US$364.1 Mn |
US Market Expects Large Gains from the Waste Management Sector
The US is a leading country in waste management, and it manages an estimated 35 million tons of hazardous materials each year.
The country also has around 3,091 active landfills and above 10,000 closed municipal landfills to manage their waste efficiently.
The increasing urban population heavily contributes to waste. To manage this hydraulic cylinder, it is utilized in several machines to provide sufficient torque required for the operation.
Use of hydraulic cylinders in trash compactors and street sweepers to clean the roads and compress waste in the trash truck is also fueling the regional growth of hydraulic cylinders’ market in the US.
UK’s Food Packaging Sector Induces a Demand Upsurge in Hydraulic Cylinders
The UK is known for its mass food packaging industry. This market is expected to reach US$9.1 Bn in 2023.
The food packaging equipment uses hydraulic cylinders, which offer precision to obtain the right dimensions and maintain the freshness of the food.
Further, conveyor systems utilize hydraulic cylinders for positioning and processing the food products. They also help with transportation of raw materials.
China Registers Higher Demand as Construction Sector Proliferates
China's construction industry was recorded at US$4.8 trillion in 2021 and is expected to rise at a CAGR of 5.2% through the end of 2033.
The construction industry widely uses hydraulic cylinders to power bulldozers, loaders, and other machines to push the loads. They are also used in excavators to control their movements.
The use of hydraulic cylinders in brick molding machines and concrete busters improves the accuracy of these machines.
Further, its use in forklifts propels the demand for cylinders in the construction industry.
Automobiles Sector Expands Exceptionally in South Korea
South Korea will acquire the fourth position in the manufacturing of passenger cars in 2021.
The production process includes a range of hydraulic cylinders for pressing, pushing, pulling, and lifting the vehicles at an extensive force.
The hydraulic cylinders play a vital role in providing the mandated force to move vehicle parts from one location to another.
The telescopic hydraulic cylinders are widely used in the automobile sector due to their cost-effective nature and save space.
May 2024
Wipro Hydraulics agreed to acquire Mailhot Industries, a Canadian-based Novacap portfolio company, a North American leader in hydraulic cylinder manufacturing. It specializes in junk trucks and snow removal machines, which are well-known for their performance and reliability in demanding work environments.
The acquisition includes JARP Industries, a part of Mailhot Industries, a leader in custom hydraulic and remanufactured cylinders for sectors such as utilities, mining, defense, and oil & gas.
With this acquisition, Wipro Hydraulics will strengthen its market position and expand its global footprint. Mailhot Industries' President Charles Massicotte said the partnership would broaden its offerings in North America and open new international markets for existing products.
May 2024
Bailey International developed an alternative to tie-rod cylinders in the agricultural equipment industry, creating the AT (Alternative to Tie Rod) Hydraulic Cylinders. The welded design of the AT cylinder overcomes entanglement and contamination issues, providing a modern aesthetic look.
Available in various bore sizes, the AT cylinder is user-friendly and strong enough to work in the same applications as tie-rod cylinders. Bailey aims to make the AT a drop-in replacement option for tie-rods, making it a more user-friendly and strong option.
The hydraulic cylinder market is continuously growing, and the market report provides valuable information while focusing on the vibrant nature of this market. The industry players aim to bring novel opportunities in this sector by lashing products and innovative advancements.
Further, companies are adopting several significant business strategies, such as partnerships, mergers, acquisitions, and joint ventures, to expand their portfolio. It also contributes to increasing their market shares across diverse regions.
Manufacturers of hydraulic cylinders are introducing novel approaches, such as investments in research and development, installation of new plants, expanding businesses internationally, and managing supply chains to heighten their market position.
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Attribute |
Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2019 to 2023 |
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Market Analysis |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon request |
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The market is expected to rise from US$14.8 Bn in 2024 to US$21.5 Bn by the end of 2031.
Rising numbers of construction and infrastructure projects worldwide and increasing use in several sectors are propelling market growth.
Parker Hannifin Corporation, Eaton Corporation, Bosch Rexroth, Caterpillar Inc., and Jiangsu Hengli Hydraulic Co., Ltd. are some of the leading market players.
The challenges, such as the increasing interest of consumers in pneumatic cylinders and fluctuating price rates of raw materials, are restraining the market expansion.
High demand for lifting equipment in the shipping industry is the key opportunity in the market.
