Hydraulic Cylinder Market Size - By Function (Single Acting, Double Acting), By Product (Tie rod, Welded), By Application (Mobile, Industrial) & Global Forecast, 2024 - 2032

Hydraulic Cylinder Market Size

Hydraulic Cylinder Market size was valued at 15 billion in 2023 and is set to grow at a CAGR of 4.6% between 2024 and 2032. Growing demand for material handling equipment along with ongoing construction activities for contributing economic development will propel the industry growth. Growing application across luffing cranes, overhead traveling cranes, forklifts, & agricultural machines will raise the product demand.
 

Rising demand for advanced agriculture machinery along with increasing population size will stimulate the demand for hydraulic cylinder. Moreover, expanding infrastructural development by developing economies will further drive the business landscape. For instance, India planned to spend USD 1.4 trillion on infrastructure through ‘National Infrastructure Pipeline’ in the next five years, which in turn is anticipated to have a positive impact on a market growth.

Increasing usage of fracturing and cracking equipment for the exploration and production of shale oil and gas will favor the hydraulic cylinder marketdemand. Collection of debris, storage, sand, and saltwater are some of the critical operations which can be complete by offshore lifting equipment in harsh conditions which in turn will further drive the demand for these products over other.
 

Growing demand for material handling equipment in the food & beverage industry to create linear motion for the conveyor belts and assembly lines will drive the installation for these products including single & double acting hydraulic cylinders. Additionally, rising usage for emission less, energy efficient and low maintenance equipment to ensure the smooth operation across various industries including manufacturing, chemical and F&B will further favor the industry outlook. 
 

Increasing usage of steam engines along with ongoing efforts to deploy energy efficient equipment across various industries will drive the industry outlook. Moreover, demand is anticipated to exceed further across the areas where the working fluid acts alternately on both sides of the piston such as forklifting, heavy trucks, earth moving equipment amongst other.
 

COVID- 19 Impact

The COVID- 19 outbreak has impacted the overall hydraulic cylinder market along with other manufacturing industries. The market experienced demand fluctuations during the pandemic. As various countries implemented lockdowns and travel restrictions, economic activities slowed down, leading to reduced energy consumption and industrial production. This resulted in lower demand for hydraulic cylinder in certain sectors, including mobile & industrial applications.
 

The market is closely tied to the oil and gas industry. During the pandemic, oil prices experienced significant volatility, with a sharp decline in early 2020 due to reduced demand and an oil price war between major producers. The decline in oil prices impacted hydraulic cylinder prices and market dynamics.
 

Hydraulic Cylinder Market Trends

The increasing adoption of automation in various industries, such as manufacturing, construction, and agriculture, is driving the demand for hydraulic cylinders. These cylinders play a crucial role in automated systems, providing precise and controlled linear motion. In addition, the construction and infrastructure sectors are witnessing significant growth globally, particularly in emerging economies. Hydraulic cylinders find extensive applications in heavy machinery and equipment used in construction projects, such as excavators, loaders, cranes, and bulldozers.
 

Continuous & exponential advancements in material & design by key manufacturers which are focusing on developing hydraulic cylinders with improved materials and designs to enhance their performance, durability, and efficiency is the other major factor complementing the industry outlook. For instances, the use of high-strength alloys, composite materials, and advanced sealing technologies can help reduce friction, extend the lifespan, and increase the load-bearing capacity of hydraulic cylinders.
 

Hydraulic Cylinder Market Analysis

Tie rod hydraulic cylinder market will record 4% CAGR during 2023 to 2032, due to increasing usage of agricultural equipment for farming to expedite the production capacity in line with the rising population rate. For instance, as per the International Trade Administration, Russian agricultural market has potential to boost the economy with 220 million hectares of land. In addition, increasing deployment of industrial equipment at the project site to effectively run the ongoing operation along with surging investment across mining industry will drive the business landscape.
 

Increasing environmental concerns and stringent regulations are driving the demand for energy-efficient hydraulic cylinders. Manufacturers are focusing on developing cylinders with improved energy efficiency, reduced leakage, and enhanced overall system performance. Furthermore, the mining industry requires heavy machinery and equipment that rely on hydraulic cylinders for efficient operation. The growing demand for minerals and metals is expected to drive the demand for tie-rod & welded cylinders in the mining sector, thereby contributing to the overall market growth.
 

Mobile application of hydraulic cylinder market is set to expand at a CAGR of 4.4% through 2032, owing to rising investment across chemical industry to cater the requirement of linear motion. Additionally, growing construction activities on account of rising urbanization will further stimulate the product penetration.
 

Continuous rise in investments across food & beverage industry to cater the growing consumer demand will boost the installation for hydraulic cylinder across industries. There is a growing trend towards compact and lightweight hydraulic cylinders to meet the requirements of space-constrained applications. Manufacturers are developing cylinders with reduced dimensions and weight without compromising performance and durability, which in turn will boost the product deployment across various application industries.
 

North America hydraulic cylinder market is anticipated to showcase around 4.5% CAGR till 2032, attributed to increasing investment across industrial application. In addition, rising government efforts to strengthen aerospace and defense industry will enhance the product penetration in the region. In addition, Rising investment toward food & beverage business along with the growing consumer spending on packaged food will augment the U.S. industry size. Additionally, growing number of large-scale industries including aerospace, defense & military, petrochemical and construction has necessitated the deployment of material handling equipment which in turn will further drive the business dynamics.
 

Burgeoning demand for efficient components across various industries along with growing investment toward expansion of manufacturing facilities will further drive the industry outlook. Hydraulic cylinder technology has evolved to offer enhanced features and performance. For example, the development of advanced sealing technologies has improved the durability and efficiency of hydraulic systems. Additionally, innovations in materials and manufacturing processes have contributed to lighter yet stronger cylinder designs.
 

In addition, the increasing trend towards automation and the implementation of Industry 4.0 principles have further propelled the adoption of hydraulic cylinder market value. These cylinders are often integrated into automated systems, providing the necessary force for robotic arms, material handling equipment, and various other automated processes.
 

Hydraulic Cylinder Market Share

Eminent players across the hydraulic cylinder market comprises

• Prince Manufacturing Corporation
• Aggressive, Inc
• Eaton
• Bosch Rexroth (India) Private Limited.
• Best Metal Products
• Wipro Infrastructure Engineerin
• Caterpillar
• ENERPAC
• Montanhydraulik GmbH
• Hydrosila
• Pacoma GmbH
• PARKER HANNIFIN CORP
• Weber-Hydraulik Group
• Texas Inc
• Norrhydro Oy

   

Continuous product development and geographical expansion are some of the key strategies followed by hydraulic cylinder manufacturers to achieve competitive advantage. In addition, growing application of these products across energy intensive industries will further create favorable business opportunities for industry players.
 

Hydraulic Cylinder Industry News

• In February 2023, Texas Instruments Inc. decided to build a second 300-millimeter semiconductor wafer fabrication plant in Lehi, Utah, as part of the chip maker’s USD 11 billion investment in the state under investments allotted by the U.S. government. The application of automation in the manufacturing industry will boost the adoption of hydraulic cylinder.
   
• In December 2022, BHEL, an Indian central public sector undertaking formed a consortium with Titagarh Wagons and is among five entities which have bid for the mega USD 7 billion contract to manufacture 200 Vande Bharat trains and maintaining them for the next 35 years, which in turn will result in the product demand over the course of time.
   

This Hydraulic Cylinder market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘Million Units & ‘USD Million’ from 2019 to 2032, for the following segments:

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Market, By Function

• Single Acting Cylinders
• Double Acting Cylinders

Market, By Product

• Tie-rod Cylinders
• Welded Cylinders
• Others

Market, By Application

• Mobile
• Industrial

The above information has been provided for the following regions and countries:

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• UK
• Italy

Eurasia

• Russia
• Belarus
• Kazakhstan
• Armenia
• Kyrgyzstan

CIS

• Azerbaijan
• Moldova
• Tajikistan
• Turkmenistan
• Uzbekistan

Asia Pacific

• China
• India
• Japan

Middle East

Africa

Latin America

• Brazil
• Argentina