(MENAFN- The Express Wire) Hydraulic Cylinders Market Strength, Major Type, Key Application And Leading Companies Forecast Till 2026 | Fortune Business Insights
Posted on Sep 21 2020 5:56 AM
"Hydraulic Cylinders Market Size, Share and Global Trend By Function (Single Acting Hydraulic Cylinder, Double Acting Hydraulic Cylinder), By Product Type (Welded Cylinder, Tie Rod Cylinder & Others), By Application (Industrial Equipment & Mobile Equipment), By End-Use Industry (Construction, Agriculture, Aerospace and Defence, Forestry, Marine & Others) and Geography Forecast till 2026
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Exhibiting a CAGR of 4.3% between and 2026, the global hydraulic cylinders market is estimated to reach US$ 14.66 Bn by 2026, as against US$ 10.94 Bn in 2018. Growing technological advancements in the hydraulics industry is the primary factor responsible for positively impacting the hydraulic cylinders' market growth. Fortune Business Insights in a new report, titled 'Hydraulic Cylinders Market Size, Share and Global Trend By Function (Single Acting Hydraulic Cylinder, Double Acting Hydraulic Cylinder), By Product Type (Welded Cylinder, Tie Rod Cylinder & Others), By Application (Industrial Equipment & Mobile Equipment), By End-Use Industry (Construction, Agriculture, Aerospace and Defence, Forestry, Marine & Others) and Geography Forecast till 2026 highlights some of the current ' Hydraulic Cylinders ' trends in the forecast years. Using hydraulic fluids, hydraulic cylinders convert hydrostatic energy into mechanical energy. These fluids include synthetic oils, emulsions, and mineral oils. The adoption of hydraulic Cylinders is increasing owing to their improved accuracy, better functionality, and controlled performance in several applications.
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Demand for Hydraulic Cylinders to Rise on Account of Rapid Industrialization
The growing construction industry is expected to augment the hydraulic cylinders market demand in the forecast years. As per a study by the Global Construction Perspective (GCP) and Oxford Economics, the construction industry is expected to reach US$ 15.5 trillion by 2030. Majority of the growth comes from countries such as India, China, and the U.S. This, along with technological developments in the construction and infrastructure industry, is expected to further advance the hydraulic cylinders market trend. Demand for these cylinders is expected to increase from other end-use industries such as Aerospace and Defence, Agriculture, Marine, Forestry, and others. Of these, analysts found that agriculture covered 21.4% of share in the global market in 2018. The World Bank made an investment of US$ 6.8 billion in 2018 in rural agriculture. As per research studies, the world population is projected to reach 9 billion by 2050. This is likely to fuel demand for agricultural machinery, driving the hydraulic cylinders market.
Hydraulic Cylinders Market Landscape and Market Scenario Includes:
- Current market size estimate
- Revenues by players Top Companies
- Market size by product categories
- Market size by regions/country
Double-acting Hydraulic Cylinders to Lead the Market
As per function, double-acting hydraulic cylinders are likely to hold around 75% of the share in the hydraulic cylinders market. These cylinders are primarily used for manufacturing and heavy construction equipment. Owing to their rising demand than single-acting cylinders, these are expected to lead the market through the forecast years.
Welded Hydraulic Cylinders to Hold 60% of the Share
Welded products are mainly used in heavy mobile equipment for lifting heavy loads and offer customizations as per requirements. These products are likely to cover 60% of the share during the forecast period. Apart from welded products, tie rob hydraulic cylinders are generally used in light and medium industrial machines. The National Fluid Power Association (NFPA) has set standard dimensions for these cylinders in order to maintain stability. For instance, Parker Hannifin's tie rob cylinders are fatigue-free and work at maximum pressure to ensure safety and reliability of its cylinders.
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Top Players
- Bosch Rexroth AG
- Enerpac
- PARKER HANNIFIN CORP
- Wipro Infrastructure Engineering
- SMC Corporation.
- Bucher Hydraulics GmbH
- Precision Hydraulic Cylinders
- KYB Americas Corporation
- Eaton
- WEBER-HYDRAULIK GMBH
Segmentation
1. By Function
- Single Acting Hydraulic Cylinder
- Double Acting Hydraulic Cylinder
2. By Product Type
- Welded Cylinder
- Tie Rod Cylinder
- Others
3. By Application
- Industrial Equipment
- Mobile Equipment
4. By End-Use Industry
- Construction
- Agriculture
- Aerospace & Defence
- Forestry
- Marine
- Others
5. By Region
- North America (the S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico and Rest of Latin America)
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Important Features that are under Offering and Key Highlights of the Market Report:
- Detailed overview of Market Share
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application, etc.
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising market growth
Mobile Equipment to Cover Majority of the Share by 2026
As per application, the demand for mobile equipment is increasing in telescopic handlers, cranes, and forklifts as these are fitted with high-quality hydraulic cylinders. Industrial Equipment is used in several applications such as metal casting, shaping, forging, and sheering, fueling demand for hydraulic cylinders.
Countries Such as India, China, and the U.S. Significantly Contribute to the Market Growth
Governments are increasingly granting funds to the infrastructure companies in the U.S. This will help the market to grow considerably. Moreover, the construction sector in the U.S. is likely to grow at a faster rate than China as the country witnesses' slowdown in housing construction. Currently, countries such as China, India, and the U.S. contribute towards the hydraulic cylinders market revenue. The rising population in India is expected to drive the construction industry, which as a result, enabling growth in the market in APAC.
Queries Addressed In Hydraulic Cylinders Market Report:
- What opportunities are present for the market players to enhance their business footprint?
- What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
- Which segment is witnessing huge traction from the consumers?
- For what purposes, is the market being utilized?
- How many units are estimated to be sold in 2020?
Key Features of Hydraulic Cylinders Market Research Report:
- This report provides detail analysis of the market and have a comprehensive understanding of the market and its commercial landscape.
- Learn about the various market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the market.
- Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
- Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
- The global market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Market Report also mentions market share accrued by each product in the market, along with the production growth.
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Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Table of Content
5. Global Hydraulic Cylinders Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Hydraulic Cylinders Market Size Estimates and Forecasts
5.2.1. By Function (Value and Volume)
5.2.1.1. Single Acting Hydraulic Cylinders
5.2.1.2. Double Acting Hydraulic Cylinders
5.2.2. By Product Type (Value)
5.2.2.1. Welded Cylinder
5.2.2.2. Tie Rod Cylinder
5.2.2.3. Others (Telescopic, Threaded Cylinders, etc.)
5.2.3. By Application (Value)
5.2.3.1. Industrial Equipment
5.2.3.2. Mobile Equipment
6. North America Hydraulic Cylinders Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Hydraulic Cylinders Market Size Estimates and Forecasts
6.2.1. By Function (Value and Volume)
6.2.1.1. Single Acting Hydraulic Cylinders
6.2.1.2. Double Acting Hydraulic Cylinders
6.2.2. By Product Type (Value)
6.2.2.1. Welded Cylinder
7. Europe Hydraulic Cylinders Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecasts
7.2.1. By Function (Value and Volume)
7.2.1.1. Single Acting Hydraulic Cylinders
7.2.1.2. Double Acting Hydraulic Cylinders
7.2.2. By Product Type (Value)
7.2.2.1. Welded Cylinder
7.2.2.2. Tie Rod Cylinder
7.2.2.3. Others (Telescopic, Threaded Cylinders, etc.)
7.2.3. By Application (Value)
7.2.3.1. Industrial Equipment
7.2.3.2. Mobile Equipment
7.2.4. By End-Use Industry (Value)
TOC Continued…!
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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