Growth drivers include rising demand from the construction industry, growing use in mining equipment, and increasing demand for material handling equipment.
Double-acting hydraulic cylinders segment is expected to grow at the highest CAGR during the forecast period. Double-acting hydraulic cylinders are used in aerospace, automotive, agriculture, and several other industries owing to their retraction property. Double-acting hydraulic cylinders have a higher demand in mobile applications such as lifting equipment, tractors, harvesters, telescopic loaders, earth moving equipment, forklifts, and heavy trucks.
Aerospace & defense segment is expected to grow at the highest CAGR during the forecast period. The aerospace & defense industry is expected to witness high growth in the near future. The increase in aircraft passengers globally has led to the rise in investments in the aircraft industry. With more investments in the aircraft industry, more production of aircraft is expected to drive the market for double-acting hydraulic cylinders used in different applications of commercial and military aircraft.
The hydraulic cylinder industry in APAC is expected to grow at the highest CAGR during the forecast period. Japan is expected to continue to account for the largest hydraulic cylinder market share in APAC during the forecast period, followed by Australia and China. The growth of the market in APAC can be attributed to rapid industrialization and infrastructure development. Hydraulic cylinders are major components in both construction equipment and agricultural equipment. Since both equipment has high demand in APAC, the market for hydraulic cylinders is expected to grow at a substantial rate in the next few years.
Key Market Players include Actuant (US), Bosch Rexroth (Germany), Caterpillar (US), Eaton (Ireland), KYB Corporation (Japan), Parker Hannifin (US), SMC Corporation (Japan), Jiangsu Hengli Hydraulic (China), Wipro Enterprises (India), and Hydac (Germany).
Key Questions Addressed by the Report
· Which specification of the hydraulic cylinder is expected to have the highest demand in the future?
· Which is the most adopted bore size of hydraulic cylinders in the market?
· What are the key trends in the hydraulic cylinder market?
· Which are the key players in the market, and what are the initiatives recently undertaken by them?
· Which region is expected to generate the highest revenues during the forecast period?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Rising Demand From Construction Industry
3.1.2. Growing Use in Mining Equipment
3.1.3. Increasing Demand for Material Handling Equipment
3.2.1. Increased Concerns Regarding Oil Leaks
3.2.2. High Manufacturing and Maintenance Costs
3.2.3. Availability of Substitute Products
3.3.1. Increasing Demand for Lifting Equipment in Shipping Industry
3.3.2. Rising Aircraft Manufacturing
3.3.3. Growing Focus on Developing Smart Hydraulic Cylinders
4. Executive Summary
5. Hydraulic Cylinder Market, By Function
5.1. Double acting hydraulic cylinders
5.2. Single acting hydraulic cylinders
6. Hydraulic Cylinder Market, By Specification
6.1. Welded cylinders
6.2. tie-rod cylinders
6.3. telescopic cylinders
6.4. mill-type cylinders
7. Hydraulic Cylinder Market, By Application
8. Hydraulic Cylinder Market, By Bore Size
8.1. Less than 50 mm
8.2. 50-150 mm
8.3. More than 150 mm
9. Hydraulic Cylinder Market, By Industry
9.2. Aerospace and defense
9.3. Material handling
9.8. Oil and gas
10. Hydraulic Cylinder Market, By Region
10.2.5. Rest of Europe
10.3.4. South Korea
10.3.6. Rest of APAC
11. Company Profiles
11.1.Leading Companies in Hydraulic Cylinder Market
11.1.2. Bosch Rexroth
11.1.5. KYB Corporation
11.1.6. Parker Hannifin
11.1.7. SMC Corporation
11.1.8. Jiangsu Hengli Hydraulic
11.1.9. Wipro Enterprises
11.2.Other Companies in Hydraulic Cylinder Market
*Company introduction, financial information, recent developments, SWOT analysis
12. Conclusion and Recommendations