Pune, India -- (SBWIRE) -- 03/12/2020 -- Exhibiting a CAGR of 4.3% between 2019 and 2026, the global hydraulic cylinders market is estimated to reach USD 14.66 Bn by 2026, as against USD 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 in 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 USD 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 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 USD 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.

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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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.

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

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Table of Content

5. Global Hydraulic Cylinders Market Analysis, Insights and Forecast, 2015-2026

5.1. Key Findings / Summary

5.2. Market Size Estimates and Forecast

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

5.2.4. By End-Use Industry (Value)

5.2.4.1. Construction

5.2.4.2. Agriculture

5.2.4.3. Aerospace & Defence

5.2.4.4. Forestry

5.2.4.5. Marine

5.2.4.6. Others (Mining, Oil and Gas)

5.2.5. By Geography (Value)

5.2.5.1. North America

5.2.5.2. Europe

5.2.5.3. Asia Pacific

5.2.5.4. Middle East and Africa

5.2.5.5. Latin America

6. North America Hydraulic Cylinders Market Analysis, Insights and Forecast, 2015-2026

6.1. Key Findings / Summary

6.2. 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

6.2.2.2. Tie Rod Cylinder

6.2.2.3. Others (Telescopic, Threaded Cylinders, etc.)

6.2.3. By Application (Value)

6.2.3.1. Industrial Equipment

6.2.3.2. Mobile Equipment

6.2.4. By End-Use Industry (Value)

6.2.4.1. Construction

6.2.4.2. Agriculture

6.2.4.3. Aerospace & Defence

6.2.4.4. Forestry

6.2.4.5. Marine

6.2.4.6. Others (Mining, Oil and Gas)

6.2.5. By Country (Value)

6.2.5.1. United States

6.2.5.2. Canada

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

TOC Continued...!

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