The latest report by IMARC Group, titled “ Hydraulic Cylinder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global hydraulic cylinder market trends. The global market size reached US$ 13.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028. A hydraulic cylinder is an actuation device used in hydraulic power transfer systems to generate a unidirectional force. It comprises an assembly of components, such as cylindrical barrels, pistons, piston rods, cylinder caps, and rings, to form a continuous hydraulic circuit. It features a tube with a protruding rod on one side. To prevent friction, the piston separates the internal rod side and the internal cap side of the cylinder. Fluid is channeled into either side of the cylinder to extend or retract the piston rod, facilitating smooth operation. It is commonly utilized to transform hydrostatic energy into mechanical energy. It is powered by pressurized hydraulic fluid, often oil, to produce linear motion. It offers ease of use, remarkable durability, and superior power-to-size and power-to-weight ratios. Furthermore, its impressive power-to-size and power-to-weight ratios provides benefits such as variable speed control, automatic overload protection, and position adjustments. As a result, hydraulic cylinders find extensive applications in the marine, construction, automotive, manufacturing, and aerospace industries across the globe. For an in-depth analysis, you can refer sample copy of the report:https://www.imarcgroup.com/hydraulic-cylinder-market/requestsample Hydraulic Cylinder Market Trends and Drivers: The global hydraulic cylinder market is primarily driven by the significant growth in the construction and mining sectors. Along with this, the rising use of hydraulic cylinders in heavy machinery used in the construction industry, including backhoes, trenchers, concrete cutting saws, asphalt laying machines, and motor graders, is positively influencing the market growth. Moreover, rapid industrialization and ongoing infrastructural developments across the globe, especially in emerging economies, have augmented the demand for hydraulic cylinders. Besides this, the increasing adoption of hydraulic cylinders in the aerospace industry for the efficient operation of heads, seals, brakes, and landing gear and in the defense sector as an essential element in various military equipment, such as telehandlers, bomb loaders, thrust reversers, automated pallets, and personnel door systems, is propelling the market growth. Additionally, the rising farm mechanization in the agricultural sector is another major growth-inducing factor. Apart from this, the replacement of manually operated equipment with hydraulic devices that ease complex tasks, reduce reliance on manual labor and enhance crop yield due to the escalating demand for automation has catalyzed market growth. Furthermore, several favorable initiatives taken by governments of numerous countries to promote infrastructural development and automation across different industries are contributing to market growth. Other factors, including the rapid expansion in the aerospace and defense sectors, escalating demand for hydraulic cylinders for material handling equipment, surging concerns to reduce labor costs, and product innovations, are also anticipated to drive the market further. Report Segmentation: The report has segmented the market into the following categories: Breakup by Function:
- Single-Acting Hydraulic Cylinders
- Double-Acting Hydraulic Cylinders
- Tie-Rod Cylinders
- Welded Cylinders
- Telescopic Cylinders
- Mill-Type Cylinders
- <50 MM
- 50–150 MM
- >150 MM
- Mobile
- Industrial
- Construction
- Aerospace & Defense
- Material Handling
- Agriculture
- Automotive
- Mining
- Oil & Gas
- Marine
- Others
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
- In August 2023, Federated Hermes Inc. acquired a new stake in Enerpac Tool Group Corp., with an estimated value of approximately US$ 1,782,000.
- In August 2023, Eaton announced a contract valued at approximately US$ 6 Million to provide the city of Texas, with turnkey electrical engineering services, power distribution, and control and protection equipment to help establish its new South Lake Water Treatment Plant.
- In June 2023, Bosch Rexroth opened a 13.2 Million EUR factory in Slovenia's Brnik.