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In its new report, Persistence Market Research (PMR) projects the global market for hydraulic
cylinders to register a stable expansion over the forecast period (2017-2026). Worldwide sales of
hydraulic cylinders are estimated to surpass revenues worth US$ 16,000 Mn by 2026-end.
Growing Adoption of Material Handling Equipment to Propel Demand for Hydraulic
Cylinders
There has been a growing demand for equipment based on hydraulic cylinder in industries such as
defense, aerospace, agriculture, mining, construction and manufacturing. Expansion in the global
trade coupled with increasing level of industrial production has spurred adoption of these equipment
in OEMs, thereby fuelling demand for hydraulic cylinders. In addition, material handling equipment
viz. electronic overhead travelling cranes, stackers, and level luffing cranes are witnessing
tremendous adoption in various industries such as oil refineries, retail, power & energy, and food &
beverage, other than engineering and construction sectors. These material handling equipment
require hydraulic cylinders to manage products having excessive weight, thereby boosting the
market expansion.
With stable growth in economy of emerging countries such as India and China post-global
economic recession has paved the way for appearance of numerous small-scale manufacturing and
construction companies. Several industries in the developed regions are outsourcing their
manufacturing requirements continuously to emerging countries to leverage low labor costs.
Additionally, several global organizations are moving their manufacturing bases to these countries
for benefitting from the low-cost manufacturing capacity, and existence of significantly skilled
labor. These incidences have meant that the hydraulic cylinder market has been continuously
influenced by rising in investments in manufacturing and construction sector from both
international as well as regional vendors.
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Key Takeaways from PMR’s Report on Hydraulic Cylinders Market
North America and Europe are gauged to remain the most financially rewarding regions for growth
of the hydraulic cylinders market. Revenues from the hydraulic cylinders markets in these two
regions are projected to account for roughly three-fifth share of the market during 2017 to 2022.
Asia-Pacific excluding Japan (APEJ) is anticipated to remain the fastest expanding market for
hydraulic cylinders.
Between Middle East & Africa (MEA) and Japan, the former will witness a relatively faster
expansion in the market, while the latter will remain more lucrative in terms of revenues over the
forecast period.
Welded cylinders will remain sought-after design type for hydraulic cylinders among end-users,
with sale projected to surpass US$ 10,000 Mn in revenues by 2026-end.
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Sales of hydraulic cylinders with bore size of 51-100 will continue to be the most lucrative in the
market, followed by above 150 bore size. However, sales of hydraulic cylinders with bore size of
26-50 and 101-150 are projected to exhibit a relative higher CAGR through 2026.
On the basis of function, although double acting cylinders are projected to account for a relatively
larger market revenue share, revenues from sales of single acting cylinders will witness a
comparatively faster expansion over the forecast period.
Hydraulic cylinders are anticipated to seek the largest application in agriculture and forestry, with
revenues poised to account for nearly one-third market share by 2026-end. Mining and construction
are also expected to remain financially worthwhile applications of hydraulic cylinders. Revenues
from hydraulic cylinder sales in industrial equipment, on the other hand, will continue to be
sluggish throughout the forecast period.
PMR’s report has profiled key market participants, and has tracked their occupancy with the aid of
an intensity map. The report states that the global market for hydraulic cylinders is highly
competitive and fragmented, characterized by presence of a large number of manufacturers widely
spread across the globe. Key players identified by the report include Mitsubishi Electric
Corporation, Emerson, ABB, SKF AB, Aisin Seiki, Sumitomo Corporation, ZF Friedrichshafen AG,
Parker Hannifin, Eaton, and Bosch Rexroth.
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