Hydraulic Cylinder Market Size & Share, by Function (Double-acting, Single-acting); Product Type (Welded, Tie Rod, Telescopic, Mill Type); Application (Mobile Equipment, Industrial Equipment); Bore Size (<50MM, 50-150MM, >150MM); End-user (Agriculture, Construction, Aerospace, Automotive, Mining, Oil & Gas) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5211
  • Published Date: Sep 01, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Hydraulic Cylinder Market size is poised to reach USD 26 Billion by the end of 2035, growing at a CAGR of 5% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of hydraulic cylinder was over USD 14 Billion. The increasing demand for cranes is driving the market growth. Slew cranes, which can hoist items, suspend them in midair, and then rotate them, are becoming more and more in demand.

Furthermore, rising concerns in order to reduce labor costs in various developing countries such as India, Brazil, and others are factors that are propelling market growth.


Hydraulic Cylinder Market
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Hydraulic Cylinder Sector: Growth Drivers and Challenges

Growth Drivers

  • Rapid Shift towards Urbanization – The hydraulic cylinder market is expanding more quickly due to the rapid urbanization occurring in developing nations like China, India, Indonesia, and other nations. The industry is expanding as a result of new infrastructure plans and advances in nations like China and India. About 65.2% of Chinese citizens were urban dwellers in 2022. In China, the rate of urbanization has been rising consistently over several decades.
  • Increasing Construction Activities – Due to the growth in construction activities in various regions the market is growing at a rapid rate. China is one of the largest countries with a vast construction industry. Also, the increasing implementation of autonomous construction equipment has also propelled market growth.
  • Growing Utilization of Steam Engines – The market will be driven by the increasing use of steam and ongoing efforts to deploy energy-efficient equipment across various industries. It is anticipated that demand will exceed further in areas where the working fluid acts alternately on both sides of the piston, such as forklifts, heavy trucks, and earth-moving equipment.

Challenges

  • Higher Cost Associated with Manufacturing and Maintenance – SMEs encounter significant cost barriers upon entering the hydraulic cylinder market. In addition to the initial manufacturing expense, hydraulic cylinders demand regular maintenance to prevent oil leakages and other malfunctions. Such expenses inevitably increase over time, potentially hindering market growth.
  • Presence of Alternatives
  • Corrosive in Nature

Hydraulic Cylinder Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 5%

Base Year Market Size (2022)

~ USD 14 Billion

Forecast Year Market Size (2035)

~ USD 26 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Hydraulic Cylinder Segmentation

Function (Double-acting, Single-acting)

With a revenue share of 68.5% throughout the anticipated period, the double-acting sector is the market leader. Huge-scale engines like naval engines, steam turbines, industrial combustion devices, earthmoving machines, and diverse construction machinery utilize double-acting hydraulic cylinders. The market for double-acting hydraulic cylinders is anticipated to grow over the projected period due to rising demand for the products in these applications.

Product Type (Welded, Tie Rod, Telescopic, Mill Type)

The welded segment is expected to hold the largest share of 60% during the forecast period. The excellent seal packaging of the welded hydraulic cylinders extends their lifespan. These enhance the appearance of the machinery they are employed on. The welded segment's rapid growth is due to its exceptional performance in applications that demand space efficiency.  Most importantly, the welded hydraulic cylinders can be customized, giving the producers a lot of alternatives, which is escalating the growth of this segment. These can be utilized in tough settings as well because they are quite sturdy.

Our in-depth analysis of the global market includes the following segments:

          Function

  • Double Acting
  • Single Acting
  • Sub-Segment 1.3

          Product Type

  • Welded
  • Tie Rod
  • Telescopic
  • Mill Type

          Application

  • Mobile Equipment
  • Industrial Equipment

          Bore Size

  • 50MM
  • 50-150MM
  •  >150MM

          End-User

  • Agriculture
  • Construction
  • Aerospace
  • Automotive

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Hydraulic Cylinder Industry - Regional Synopsis

APAC Market Forecast

Asia Pacific is expected to hold the largest market share of more than 36.6% during the forecast period. With India's population expected to increase, there will be a surge in construction activities in the coming years, leading to the expansion of the Asia Pacific hydraulic cylinder market. China's market, on the other hand, came in second in terms of revenue share due to massive investments in building operations and an uptick in original equipment manufacturers.

North American Market Forecast 

North America is projected to hold a substantial share during the forecast period. Also, the market in the US is expected to grow at a CAGR of 3.7% during the forecast period. The increase in demand for hydraulic cylinders in the region can be attributed to the growing economy and investments in infrastructure, energy and power, and other sectors. Street sweepers that are used to clean the roads rely on hydraulic cylinders for rotating the brushes. Additionally, the government's investment in commercial projects is anticipated to further drive the demand for hydraulic cylinders.

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Hydraulic Cylinder Market Size
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Companies Dominating the Hydraulic Cylinder Landscape

top-features-companies
    • AKKA Technologies
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Liebherr Group
    • WEBER-HYDRAULIK GMBH
    • Epicor Software Corporation
    • Henan Modern Industrial Co., Limited

In-the-news

In The News

  • With the addition of a new structure at the Oberopfingen location, the components product division of Liebherr is increasing hydraulic cylinder production. Starting in 2024, the new plant will add mechanical production for hydraulic cylinders to the current main plant.
     
  • The steering cylinders from WEBER-HYDRAULIK's latest generation feature a tube-in-tube design that blends innovation and expertise, resulting in a lightweight construction.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5211
  • Published Date: Sep 01, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rapid shift towards urbanization, increasing construction activities and growing utilization of steam engines are driving the market growth.

The market size of hydraulic cylinder is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023 – 2035.

The major players in the market are AKKA Technologies, Liebherr Group, WEBER-HYDRAULIK GMBH, Epicor Software Corporation, Henan Modern Industrial Co., Limited, JNC CORPORATION, SMC Corporation, Daikin Industries, Ltd., NYK Group Firms, TOKYO KEIKI INC and others.

The welded segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Hydraulic Cylinder Market Report Scope
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