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Hydraulic Cylinder Market Size
- Report ID: GMI814
- Published Date: Jul 2024
- Report Format: PDF
Hydraulic Cylinder Market Size
Hydraulic Cylinder Market was valued at USD 15 billion in 2023 and is estimated to grow at a CAGR of 4.6% from 2024 to 2032. The increasing demand for material handling equipment, coupled with ongoing construction activities contributing to economic development will drive market growth. The rising application of hydraulic cylinders in luffing cranes, overhead traveling cranes, forklifts, and agricultural machines will further boost product demand in the projected timeframe.
The rising demand for advanced agricultural machinery, along with the growing population, will stimulate the need for hydraulic cylinders. Additionally, expanding infrastructure development in developing economies will further drive the business landscape. For instance, India plans to spend USD 1.4 trillion on infrastructure through the 'National Infrastructure Pipeline' over the next five years, which is expected to positively impact market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Hydraulic Cylinder Market Size in 2023: | USD 15 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 4.6% |
| 2032 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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Frequently Asked Questions (FAQ) :
Hydraulic Cylinder Market Scope
