The hydraulic cylinders market is expected to be valued at 28,611 ‘000 units in 2018 and it is expected to grow at a CAGR of 3.9% to reach 39,005 ‘000 units by the end of 2026.
Albany, NY -- (SBWIRE) -- 08/23/2018 -- Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled "Global Market Study on Hydraulic Cylinders: Growing Industrialization and Infrastructural Development Across the Globe Expected to Boost Demand in the Coming Years" offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Hydraulic Cylinders Market have been elaborated upon in the research report.
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A hydraulic cylinder is an actuation device that converts hydrostatic energy into mechanical energy and produces a unidirectional force. Hydraulic cylinders differ from hydraulic motors as hydraulic cylinders perform linear or transitory motion and hydraulic motors perform rotational motion. The global hydraulic cylinders market is expected to register a CAGR of 4.3% over the forecast period (2018 – 2026) in terms of value. The hydraulic cylinders market is expected to be valued at 28,611 '000 units in 2018 and it is expected to grow at a CAGR of 3.9% to reach 39,005 '000 units by the end of 2026.
Factors Impacting Global Hydraulic Cylinders Market Growth
Many countries across the globe still do not have basic infrastructure such as roads for transportation, information and communication and electric power. In light of this, many governments are making significant investments towards infrastructural developments and improvements. This increase in infrastructural development in the global infrastructural industry is encouraging various businesses to come up with solutions to enhance systems with advanced equipment and machinery to improve infrastructure across the world. Apart from infrastructure, the increasing global population is also surging construction activities in many countries across the world. Growth in the global construction sector and infrastructural development are together expected to create huge demand for modern equipment and machinery in the coming years. Increasing use of hydraulic cylinders in engineering equipment used in construction and infrastructural industries is expected to trigger the growth of the global hydraulic cylinders market in the future.
Hydraulic cylinders are globally quite popular among customers due to their extensive range of applications in various types of industries; however, many customers still choose pneumatic cylinders over hydraulic cylinders, which can pose a challenge to the growth of the global hydraulic cylinders market. Pneumatic cylinders have a simplistic design and are more accurate while generating a precise linear motion. The availability of pneumatic cylinders in smaller sizes and their rapid movement with higher operation speed have turned many customers in their favour. By enabling integration with electronic monitoring systems, pneumatic cylinders offer versatile advancements in their operation in the field of miniaturization at comparatively lower prices. Attributing to these advantages of pneumatic cylinders over hydraulic cylinders, majority of customers are making purchase decisions in favour of pneumatic cylinders, which might pose danger to the growth of the global hydraulic cylinders market.
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Global Hydraulic Cylinders Market Segmentation and Forecast
The global hydraulic cylinders market can be segmented on the basis of bore size, product type, operating principle, application and region. On the basis of bore size, the global hydraulic cylinders market can be segmented into <50 mm, 51-100 mm, 101-151 mm, 151-300 mm and above 300 mm. On the basis of product type, the hydraulic cylinders market can be segmented into tie-rod cylinders, threaded cylinders, welded cylinders, bolted/ mill type cylinders, telescopic cylinders and other cylinders. On the basis of operating principle, the global hydraulic cylinders market can be segmented into single acting, double acting and multi-stage/ tandem. On the basis of application, the global hydraulic cylinders market can be segmented into industrial equipment and mobile equipment. Key regions covered in the report include North America, Latin America, Europe, Southeast Asia & other Asia Pacific, Middle East and Africa (MEA), China and Japan.
Global Hydraulic Cylinders Market Analysis by Region
From a regional perspective, the hydraulic cylinders market in North America is anticipated to dominate the market in terms of volume and value. This can mainly be attributed to the presence of many manufacturers in the region who focus on product innovation. The region, therefore, is expected to grow with an impressive CAGR between 2018 & 2026. Moreover, the North American hydraulic cylinder market is expected to emerge as the most lucrative market in the world during the forecast period. Additionally, rapid industrialization and construction activities across the countries of Asia Pacific, mainly India and China, are expected to create healthy demand for hydraulic cylinders from the region.
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