Global Hydraulic Cylinder Market Size to Reach USD 22.16 Billion in 2032 | Emergen Research

Increasing applications of hydraulic cylinders in heavy equipment during construction activities is a major factor driving hydraulic cylinder market revenue growth

Vancouver, Sept. 20, 2023 (GLOBE NEWSWIRE) — The global hydraulic cylinder market size was USD 14.30 Billion in 2021 and is expected to register a revenue CAGR of 4% during the forecast period, according to latest analysis by Emergen Research. Increasing application of hydraulic cylinders in heavy equipment employed during construction activities and increasing urbanization in emerging , such as India, China, and others, are major factors driving market revenue growth. In addition, the shipping industry is a major consumer of hydraulic cylinders due to its advantages associated with lifting heavy loads, which is another factor driving market revenue growth. Ongoing construction activities in various countries are gradually becoming more complex due to technicalities associated with it. Although, there had been a significant decline in construction activities during COVID-19 pandemic, but the market has regained its momentum as lockdown and trade restrictions have been lifted. Moreover, increasing support from governments in various countries has prompted this industry to rapidly adopt advanced construction equipment and develop sustainable infrastructure projects. In the construction industry, hydraulic cylinders are readily incorporated in machinery such as excavators, trenchers, road construction planners, and others.  Furthermore, increasing preference is mainly due to their excellent resistance against corrosion, extreme temperatures, and weather changes. In shipping applications, hydraulic cylinders’ aid in lifting compartments that weigh around 30 to 42 tons.

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However, risks associated with internal leakage is a major factor restraining market revenue growth. Hydraulic cylinders mostly operate with oil, therefore, leakage in internal components causes environmental contamination. In addition, industry professionals look for cleaner and safer alternatives, such as pneumatic cylinders and others, because it enables them to adhere to environmental standards implemented by governments in various countries. They can also stay compliant and achieve higher industry standards. Pneumatics are a cost-effective solution than hydraulic cylinders and incorporates pneumatic safety thereby making it ideal for an inflammable environment. Moreover, increasing focus on cleaner technologies is another major factor restraining market revenue growth.

Scope of Research

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 Major Companies and Competitive Landscape

The global hydraulic cylinder market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective hydraulic cylinder products. Some major players included in the global hydraulic cylinder market report are:

• Enerpac Tool Group
• Bosch Rexroth AG
• Caterpillar
• Eaton
• KYB Corporation
• Parker Hannifin Corp
• SMC Corporation
• Hengli hydraulic
• Hydac International GmbH
• Standex International Corporation
• Texas Hydraulics
• Weber-Hydraulic GmbH

Strategic Development

• On 27 October 2021, Dellner Bubenzer, which is a Germany-based leading designer and manufacturer of braking systems for use in various industries, announced to acquire Hydratech Industries, which is a global supplier of hydraulic components headquartered in Singapore. This acquisition will expand Dellner’s offerings to global consumers and complement Dellner’s groundbreaking invention of the electrohydraulic BUEL thruster system.
• On 11 May 2022, Danfoss Power Solutions, which is a leading manufacturer and provider of hydraulic machinery for construction, agriculture, and off-road vehicles market headquartered in the U.S. announced a collaboration with RISE Robotics, which is a Massachusetts-based designer and manufacturer of sustainable mechanical systems for a broad range of application. This long-term collaboration is particularly aimed at manufacturing products that aid in significantly reducing industrial emissions. In addition, both the companies have joined hands to address challenges associated with electrification of mechanical systems and develop innovative solutions that surpass conventional technologies prevailing in various industries. 

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Some Key Highlights From the Report

• The double-acting hydraulic cylinders segment accounted for a significant revenue share in 2021. Increasing demand for hydraulic cylinders that provide precise control and faster retraction is a major factor driving revenue growth of this segment. Double-acting hydraulic cylinders pump hydraulic fluid on both sides of the plunger. In addition, extra port allows more control over plunger and ensures it returns to its original position during retraction. Significant investments in advancement of existing farming technologies are among other factors driving revenue growth of this segment. For instance, on 3 June 2022, Power Farming, which is a leading manufacturer of tractors and heavy agricultural machinery headquartered in Auckland, New Zealand announced an addition to its Dutz Fahr tractor range. It is now designed and developed to suit a wide range of applications. This tractor incorporate front axle suspension with double-acting hydraulic cylinders for effective self-leveling among others.  
• The welded cylinders segment accounted for a significant revenue share in 2021. Increasing demand for high-performance and stable hydraulic cylinders that support heavy loads is a major factor driving revenue growth of this segment. Welded cylinders are also preferred by industry professionals as they offer design freedom and unlike tie-rod cylinders and withstand mechanical forces and offer various features. Market companies are significantly investing in research & development activities and offering their prospective clients customization options. This has further increased acceptance of welded cylinders among end-users in various regions. In addition, significant advancements in welded cylinders have increased their life expectancy and provide benefits such as automatic overload protection, speed control, and others.
• The oil & gas segment accounted for a moderate revenue share in 2021. Rapid advancements in cylinder technology is a major factor driving market revenue growth in this segment. Oil & gas industries require  hydraulic cylinders to explore and exploit resources located in deep water. In addition, market companies are focusing on developing large hydraulic cylinders that adhere to safety and latest industry standards. Advancements in hydraulic power unit also play a key role in driving market revenue growth in these industries. For instance, market companies are focusing on reducing the size of hydraulic cylinder by combining power unit with low displacement characteristic of helical actuators. Moreover, surface technologies that offer improved performance are in high demand in oil & gas industries.
• The Europe market accounted for a moderate revenue share in 2021. Significant investments in research & development activities and increasing number of construction activities in various countries in this region are major factors driving market revenue growth in this region. Earthmoving equipment, such as excavators, backhoes, bulldozers, dump trucks, and others, incorporate hydraulic cylinders to improve performance and lifespan of machinery. In addition, hydraulics enables construction equipment to lift loads that are heavier. Increasing presence of Original Equipment Manufacturers (OEMs) in countries, such as Germany, the UK, Spain, and others, has also contributed to market revenue growth. 

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Emergen Research has segmented the global hydraulic cylinder market based on function, specification, industry, and region:

• Function Outlook (Revenue, USD Billion; 2019-2030)
  • Double-Acting Hydraulic Cylinders
  • Single-Acting Hydraulic Cylinders
• Specification Outlook (Revenue, USD Billion; 2019-2030)
  • Welded Cylinders
  • Tie Rod Cylinders
  • Telescopic Cylinders
  • Mill Type Hydraulic Cylinders
• Industry Outlook (Revenue, USD Billion; 2019-2030)
  • Construction
  • Automotive
  • Oil & Gas
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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