Hydraulic Cylinders Market Outlook
“Global Hydraulic Cylinders Market Share, Size, Analysis, Report and Forecast 2023-2028″, According to a new report by Expert Market Research titled, the global hydraulic cylinders market is projected to grow at a CAGR of 4.4% between 2023 and 2028. Aided by the rising demand for efficient and powerful hydraulic systems and the growing applications of hydraulic cylinders across various sectors, the market is expected to grow significantly by 2028.
Hydraulic cylinders are mechanical actuators that produce unidirectional force through a unidirectional stroke. Owing to their crucial role in multiple applications that require substantial force and linear motion, these cylinders have established themselves as indispensable components in several industries. Celebrated for their high power, density, and performance, hydraulic cylinders are extensively utilised in a wide array of industries including construction, manufacturing, oil and gas, mining, and agriculture.
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The global hydraulic cylinders market growth is primarily driven by the increasing industrialisation and urbanisation trends observed globally. The construction industry is experiencing a surge, fuelled by the escalating demand for advanced equipment and machinery. This uptick has led to a considerable rise in the demand for hydraulic cylinders. These cylinders are increasingly deployed in an array of construction equipment such as excavators, loaders, and bulldozers. Their ability to provide the high power necessary for lifting and moving heavy materials makes them an integral part of the construction industry.
Moreover, advancements in the technological landscape play a pivotal role in steering the hydraulic cylinders market expansion. Cutting-edge innovations such as smart cylinders, equipped with sensors for feedback, and telematics systems for remote management, are widening the application spectrum of hydraulic cylinders and, in turn, driving market growth. The integration of these groundbreaking technologies amplifies efficiency, control, and safety, making them a popular choice across various industries.
In particular, the oil and gas industry is highly reliant on hydraulic cylinders for various applications. Their use ranges from drilling rigs to pumping stations, with their reliability and capacity to operate under extreme conditions being the major driving factors. The growth observed in this sector, especially in emerging economies, is further stimulating the hydraulic cylinders market demand.
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Hydraulic Cylinders Market Segmentation
The market can be divided based on function, specification, bore size, application, and region.
Market Breakup by Function
Market Breakup by Specification
- Tie Rod
Market Breakup by Bore Size
- <50 MM
- 50–150 MM
- >150 MM
Market Breakup by Application
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global hydraulic cylinders companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- SMC Corporation
- Parker-Hannifin Corporation
- KYB Corporation
- Bosch Rexroth AG
- Eaton Corporation plc
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