Hydraulic Cylinders Market to Reach $21.2 Bn, Globally, by 2030 at 4.2% CAGR: Allied Market Research

News provided by

Mar 28, 2022, 09:10 ET

Developments in the global construction sector, rapid industrialization coupled with increasing infrastructural spending, and retrofit & replacement of existing equipment drive the growth of the global hydraulic cylinders market.

PORTLAND, Ore., March 28, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Hydraulic Cylinders Market by Function (Single Acting Cylinders and Double Acting Cylinder), Design (Tie-Rod Cylinders and Welded Cylinders), and Bore Size (Less Than 50mm, 51mm to 100mm, 101mm to 150mm, and Greater Than 151mm): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global hydraulic cylinders industry generated $14.07 billion in 2020, and is anticipated to generate $21.2 billion by 2030, witnessing a CAGR of 4.2% from 2021 to 2030.

Prime determinants of growth

Developments in the global construction sector, rapid industrialization coupled with increasing infrastructural spending, and retrofit & replacement of existing equipment drive the growth of the global hydraulic cylinders market. However, hydraulic cylinders are costlier as compared to pneumatic cylinders, which hinders the market growth. On the other hand, extensive range of applications and increase in demand for material handling equipment presents new opportunities in the coming years.

Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/5081

Covid-19 Scenario

The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global hydraulic cylinders market, owing to lack of raw materials and manpower, especially in the initial period.
Also, the pandemic had halted the production facilities of the hydraulic cylinders industry and disrupted the supply chain, due to implementation of lockdown.
However, the market is going to recover soon.

The double acting segment to maintain its leadership status throughout the forecast period

Based on function, the double acting segment held the highest market share in 2020, accounting for more than three-fifths of the global hydraulic cylinders market, and is estimated to maintain its leadership status throughout the forecast period. Single acting cylinders is simple, required less maintenance and is economical as compared to double acting cylinders, which drive the growth of the market. Moreover, the single acting segment is projected to manifest the highest CAGR of 6.5% from 2021 to 2030. This is because double-acting hydraulic cylinder is ideal equipment for machine handling equipment in automotive sector.

Get detailed COVID-19 impact analysis on the Solar Power Equipment Market: https://www.alliedmarketresearch.com/request-for-customization/5081

The 51mm to 100mm segment to maintain its lead position during the forecast period

Based on bore size, the 51mm to 100mm segment accounted for the largest share in 2020, contributing to nearly one-third of the global hydraulic cylinders market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 6.5% from 2021 to 2030, owing to an increase in the demand for hydraulic cylinder with bore size 51 mm to 100 mm across the end users.

Asia-Pacific, followed by North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global hydraulic cylinders market, owing to rise in demand for hydraulic cylinder in the construction industry. Moreover, the LAMEA region is expected to witness the fastest CAGR of 5.0% during the forecast period.

Leading Market Players

Actuant Corporation
Caterpillar Inc.
Eaton Corporation Plc
JARP Industries Inc.
Hengli Hydraulic
Kawasaki Heavy Industries Limited
Parker Hannifin Corporation
Robert Bosch GmbH
Texas Hydraulics Inc.
Wipro Limited.

Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/5081

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial

Similar Reports We Have:
Pneumatic Cylinder Market - Global pneumatic cylinder market is projected to reach $23,850.4 million by 2030, registering a CAGR of 5.8% from 2021 to 2030.

Mining Equipment Market - Global mining equipment market size was $125,274.0 million in 2020, and is expected to reach $182,119 million by 2030, growing at a CAGR of 4.6% from 2021 to 2030.

Hydraulic Pump Market - Global hydraulic pump market is projected to reach $13,919.0 million by 2030, registering a CAGR of 3.6% from 2021 to 2030.

Heavy Construction Equipment Market - Global heavy construction equipment market is projected to reach $273.5 billion by 2030, registering a CAGR of 4.4% from 2021 to 2030.

Construction Equipment Market - Global construction equipment market size is expected to reach $261,047 million in 2027, from $184,500 million in 2019, growing at a CAGR of 4.3% from 2020 to 2027.

Pre-Book Now with 10% Discount:

Compact Construction Equipment Market - Global Compact Construction Equipment Market is projected to reach $9,438 million in 2023, growing at a CAGR of 6.2% from 2017 to 2023.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn