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The Hydraulic Cylinder Market is projected to grow by USD 2.8 billion with a CAGR of 5.8% during the forecast period 2021 to 2026.
This hydraulic cylinder market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the hydraulic cylinder market segmentation by end-user (CMMH, agriculture, aerospace and defense, and industrial equipment) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The hydraulic cylinder market report also offers information on several market vendors, including Aggressive Hydraulics Inc., Bailey International LLC, BandH Machine Inc., Bosch Rexroth AG, Bucher Hydraulics GmbH, Caterpillar Inc., Eaton Corp. Plc, Enerpac Tool Group Corp., HANNON HYDRAULICS LLC, HYDAC Verwaltung GmbH, Jiangsu Hengli Hydraulic Co. Ltd., Komatsu Mining Corp., Leggett and Platt Incorp., LIGON INDUSTRIES LLC, Pacoma GmbH, PARKER HANNIFIN CORP., SMC Corp., Suvera Fluid Power PVT LTD., Texas Hydraulics Inc., WEBER-HYDRAULIK GmbH, Wipro LTD., and Yates Industries Inc. among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global hydraulic cylinder market. During the COVID-19 pandemic, the demand for the hydraulic cylinder market has been impacted significantly. But a holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.
Key Hydraulic Cylinder Market Driver
Mechanization of agriculture and growth in the agriculture machinery market are one of the key factors driving the global hydraulic cylinder market growth. Hydraulics has a wide scope for application in agricultural equipment. Agricultural applications of hydraulic systems include tractors, combine and forage harvesters, field sprayers, poultry house machinery, and specialized harvesting machinery. As far as the integration of electronics is concerned, agriculture has been one of the slowest-evolving sectors. Global agricultural production needs to double itself by 2050 and ensure the simultaneous management of sustainability. To achieve the 2050 production goals, the TFP for agricultural production systems will have to be raised. The need for higher TFP will increase the need for the mechanization of various agricultural practices, which will consequently increase the rate of adoption of various mechanical devices, such as tractors, automatic seed dispensers, and harvesting machines, among others. Moreover, in developed countries such as the US and Australia, the adoption of agricultural machinery has grown at a rapid rate with the rise in the population. Hydraulic equipment is also used in small tractors, carts, and combine harvesters. Thus, the growing demand for agricultural equipment in the agriculture industry is leading to the growth of the global hydraulic cylinder market
Key Hydraulic Cylinder Market Trend
Consolidation of the supply chain by OEMs will fuel the global hydraulic cylinder market growth. Diversified OEMs, which are one of the major end-users of hydraulic cylinders, are increasingly consolidating the supply chain by developing and enhancing their in-house hydraulic cylinder production capabilities. This will improve the design, engineering, logistical quality, and cost of OEM-manufactured products. The rise in in-house manufacturing impacts the dynamics of the industry, as the prominent consumers of hydraulic cylinders are also OEMs. Many vendors across the world have adopted this strategy. For instance, Caterpillar is actively engaged in vertically integrating its supply chain, especially for its construction machinery, with the aim of lowering the overall operating and manufacturing costs. This strategy has been adopted by other companies. The Deere and Company are planning an expansion of its cylinder operation bases in Moline, Illinois. In this scenario, vendors do not supply products to other buyers. Instead, they use it for their own business units. Also, this increases the competition between vendors.
Key Hydraulic Cylinder Market Challenge
The high maintenance cost is the major challenge to the global hydraulic cylinder market growth. Continuous maintenance and monitoring are required to detect and rectify any failure in hydraulic cylinders. Proactive maintenance requires the appropriate monitoring and diagnostic tools to determine the performance and condition of hydraulic cylinders. However, these tools involve a heavy investment. The major problems with hydraulic cylinders are that they generate noise and are prone to failure under high fluid temperatures. Abnormal noise is generated because of the contamination of the hydraulic fluid by air. Thus, end-users must make sure that pumps, clamps, and fittings are airtight to avoid any inflow of air. Hydraulic systems that operate above 180°F can lead to the destruction of seals and cause the degradation of fluids. Thus, end-users must maintain systems under 180°F. It is vital to create optimal cylinder sealing. Poor sealing can cause a host of problems, ranging from hydraulic fluid leakage to complicated seal replacement. In addition, end-users need to continuously monitor the functioning of equipment, thereby incurring huge maintenance costs, which affects the growth of the global hydraulic cylinder market.
This hydraulic cylinder market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hydraulic cylinder market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hydraulic cylinder market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the hydraulic cylinder market encompasses successful business strategies deployed by the key vendors. The hydraulic cylinder market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report hydraulic cylinder market contains comprehensive market knowledge and an in-depth vendor landscape added to an analysis of the key vendors.
Our In-house experts produce extensive information on the value chain and parent market of the hydraulic cylinder market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
The value chain of the global industrial machinery market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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46% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the hydraulic cylinder market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Mechanization of agriculture and growth in the agriculture machinery market will facilitate the hydraulic cylinder market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 hindered the growth of the regional hydraulic cylinder market. Countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines were under full lockdowns due to the pandemic. The lockdowns temporarily disrupted the operations in the construction and other industries in APAC. Production in manufacturing industries was shut down temporarily in APAC due to the lockdowns and stringent social distancing norms. However, after the second wave of COVID-19 in the first half of 2021, stringent safety norms were followed, and large-scale vaccination drives were conducted. This led to the resumption of manufacturing operations in the market. The hydraulic cylinder market was on the path to recovery in Q3 2021 and is expected to grow during the forecast period.
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The hydraulic cylinder market share growth by the CMMH segment will be significant during the forecast period. This market segment includes the applications of hydraulic cylinders in equipment such as excavators, backhoes, skid steer loaders, trenchers, rock drills, mining dump trucks, filter presses, rock crushers, mining trailers, and cranes. The market is expected to have the highest market share in the CMMH end-user segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hydraulic cylinder market size and actionable market insights on the post-COVID-19 impact on each segment.
India Hydraulic Cylinder market - The market share will grow at a CAGR of 14.67% over the period 2014-2019.
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Hydraulic Cylinder Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.8% |
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Market growth 2022-2026 |
$2.8 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
3.98 |
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Regional analysis |
APAC, North America, Europe, the Middle East and Africa, and South America |
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Performing market contribution |
APAC at 46% |
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Key consumer countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Aggressive Hydraulics Inc., Bailey International LLC, BandH Machine Inc., Bosch Rexroth AG, Bucher Hydraulics GmbH, Caterpillar Inc., Eaton Corp. Plc, Enerpac Tool Group Corp., HANNON HYDRAULICS LLC, HYDAC Verwaltung GmbH, Jiangsu Hengli Hydraulic Co. Ltd., Komatsu Mining Corp., Leggett and Platt Incorp., LIGON INDUSTRIES LLC, Pacoma GmbH, PARKER HANNIFIN CORP., SMC Corp., Suvera Fluid Power PVT LTD., Texas Hydraulics Inc., WEBER-HYDRAULIK GmbH, Wipro LTD., and Yates Industries Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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