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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 5% |
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Base Year Market Size (2022) |
~ USD 14 Billion |
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Forecast Year Market Size (2035) |
~ USD 26 Billion |
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Regional Scope |
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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:
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Function |
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Product Type |
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Application |
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Bore Size |
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End-User |
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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.
Author Credits: Payel Roy, Dhruv Bhatia
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