Hydraulic Cylinder Market
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The global hydraulic cylinder market size was assessed at USD 15 billion in 2023 and is envisioned to grow at a CAGR of 4.6% by 2032.
The global hydraulic cylinder industry growth will be prompted by the increasing requirement for material handling equipment and the continued infrastructure building that is facilitating economic growth. This will be further enhanced by the increased use of hydraulic cylinders in luffing cranes, overhead travelling cranes, forklifts, and agricultural equipment’s.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Hydraulic Cylinder Market size in 2023: | USD 15 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2023 - 2032 CAGR: | 4.6 |
| 2023 Value Projection: | USD 22.5 Billion |
| Historical Data for: | 2021 - 2023 |
| No of Pages: | 70 |
| Tables, Charts & Figures: | 35 |
| Segments Covered: | Function, Product, Application, & Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The proliferation of the population will also create a demand for modern agricultural machinery, thus creating a need for hydraulic cylinders. Additionally, the mounting infrastructure construction in developing countries will also enhance the business scenario down the line. For Instance, India approximately intends to invest around USD 1.4 trillion toward the ‘National Infrastructure Pipeline’ over the next five years, which will propel the market growth.
The demand for hydraulic cylinders is projected to rise with the growth spurred by global industrialization trends. The future of the market seems positive, influenced by End Users’ ability to retain and utilize hydraulic tools in their day-to-day activities, the maximum amount of automation needed, and the emerging need of adopting environmentally friendly means of converting energy into motion or vice versa in an efficient and reliable manner. The construction of agricultural tools, alongside automated construction structures has fuelled innovation in the machining industry, enabling unprecedented technological advancements across all sectors which rely on hydraulic cylinders. The global demand for hydraulic cylinders will keep rising with emerging industries in developing countries striving to remodel behind sustainable blueprints.
The double acting cylinder market will surpass over USD 15 billion by the year 2032. The product is used in the food and beverage industry and in the construction of material-handling equipment where linear motion for conveyor belt and assembly line is created for which there is an increasing need for the usage of single and double acting hydraulic cylinders. Moreover, the increasing adoption of emission free, energy efficient and low maintenance machinery within the manufacturing, chemical, food and beverage industries will also assist in the further growth of the market.
The mobile hydraulic cylinder market is expected to register a rate of over 4.1% by 2032. The growing acceptance of integrating electrical parts into hydraulic systems to form electro-hydraulic systems owing to their superior performance and control they allow has been effective in the growth of the mobile Industry.
The North America hydraulic cylinder market will reach over USD 6.5 billion by 2032 owing to the increasing shift towards ecological measures in the countries including the U.S. and Canada which complies with the imposed environmental regulations on the country wide level. In addition to this private and government establishments are engaged in various infrastructure schemes which increases the market for hydraulic cylinders used in construction equipment leading to an overall market increase across the region, in turn adding growth prospects to the market.
Caterpillar, Bosch, Parker Hannifin Group, Norrhydro Oy and Eaton Corporation are able to grasp a considerable portion of the market due to their global presence, diverse product portfolio and their strong foot in motion technology line of business. The market is highly fragmented with many big players involved in a competitive race in the hydraulic cylinder industry especially to gain a strong foothold in the global market by mergers and acquisitions and strategic partnerships.
Some of the key market players operating across the hydraulic cylinder industry are:
Market, By Function
Market, By Product
Market, By Application
The above information has been provided for the following regions and countries:
Aggressive, Inc., Best Metal Products, Bosch Rexroth (India) Private Limited., Caterpillar, Eaton Corporation, ENERPAC, Hydrosila, Montanhydraulik GmbH, Norrhydro Oy, and Pacoma GmbH, among others.
North America hydraulic cylinder market is forecasted to exceed USD 6.5 billion by 2032 due to the shift towards sustainable practices and stringent environmental regulations.
The market size of hydraulic cylinder was reached USD 15 billion in 2023 and is anticipated to register 4.6% CAGR between 2024 and 2032, driven by rising infrastructural investment in emerging economies and emerging demand of industrial equipment.
The mobile segment in the hydraulic cylinder market is expected to record 4.1% CAGR through 2032, due to the increasing integration of electrical components with mobile hydraulic systems.