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iCrowdNewswire Jan 15, 2021 3:00 PM ET

Global Hydraulic Cylinder Market Expected to Reach USD 3,561.0 Million by 2027


Global Hydraulic Cylinder Market Expected to Reach USD 3,561.0 Million by 2027

iCrowd Newswire - Jan 15, 2021

Global Hydraulic Cylinder Market Key Takeaways-min

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Hydraulic Cylinder Market by Designs, Bore Size, Functions, Industries Applications, and Regions: Size, Share, Trends, and Opportunity Analysis, 2020-2027”, the market was valued at USD 11,569.3 Million in 2019 and is anticipated to expand at a CAGR of 6.3% between 2020 and 2027. In terms of volume, the global hydraulic cylinder market is anticipated to expand at a CAGR of 5.5% during the forecast period. The market is anticipated to grow owing to the increase in the launch of a variety of these fireplaces and growing awareness regarding pollution.

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The global hydraulic cylinder market is fragmented based on designs, bore size, functions, industries applications, and regions. In terms of designs, the market is divided into tie rod cylinder, welded body cylinder, telescopic, and mill type. Based on bore size, the market is segregated into <50 mm, 50–150 mm, and >150 mm. On the basis of functions, the market is bifurcated into single acting and double acting. In terms of applications, the market is fragmented into industrial equipment and mobile equipment. On the basis of industries, the market is classified as construction, aerospace & defense, material handling, agriculture, mining, automotive, marine, oil & gas, and others. Based on regions, the global hydraulic cylinder market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is bifurcated into the US and Canada. Latin America is segmented into Brazil, Mexico, and Rest of Latin America, while Asia Pacific is sub-segmented into China, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia Pacific. Europe is categorized as Germany, France, Italy, the UK, Spain, Russia, and Rest of Europe. MEA is divided into Saudi Arabia, South Africa, the UAE, and Rest of MEA.

Hydraulic cylinders are also called hydraulic pumps or liner hydraulic motors. These cylinders are used in many fields such as civil engineering, construction machinery, and manufacturing machinery. Moreover, these cylinders help in transferring applications ranging from aviation to construction equipment. Hydraulic cylinders are formed by assembling various components such as piston, head & caps, cylinder, and barrel. These cylinders are available in two forms that are single acting and double acting. Furthermore, hydraulic cylinders are available in various functions and configuration, as each of them are suited for particular applications. These cylinders are selectively used for resisting linear motion under heavy loads. Hence, hydraulic cylinders are used in various industries.

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As per GMR industry analyst Vidya Jadhav, “The global hydraulic cylinder market is anticipated to grow at a substantial pace during forecast period, from 2020 to 2027 due to rapid development in infrastructure and industrialization in developing nations. Moreover, growing demand for lifting equipment in shipping industry is expected to fuel the hydraulic cylinder market.”

Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 11,569.3 Million

Market Growth Rate (from 2020 to 2027)

6.3%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (USD Million) and Volume (Thousand Units)

Market Segments

Designs, Bore Size, Functions, Applications, and Industries

Regional Scope

North America, Europe, Latin America, Asia Pacific, and Middle East & Africa (MEA)

Country Scope

The US, Canada, Brazil, Mexico, Rest of Latin America, China, Japan, South Korea, India, Australia, Southeast Asia, Rest of Asia Pacific, Germany, France, Italy, the UK, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, the UAE, and Rest of MEA.

Key Companies Profiled

Caterpillar, Eaton, Enerpac Tool Group, HYDAC INTERNATIONAL GmbH, Jiangsu Hengli Hydraulic, KYB Americas Corporation, PARKER HANNIFIN CORP, Robert Bosch GmbH, SMC Corporation, and Wipro Infrastructure Engineering.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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At GMR, we provide our expertise and guideline for success. Our team of efficient and experienced researchers and consultants provide progressive market intelligence reports that are accurate, authentic, and in-depth. This empowers the clients to make well-informed decisions.

Moreover, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries including chemicals and materials, energy, automobile, healthcare, consumer goods, and technology. Our deep understanding of many business environments across industries such as those mentioned above allows us to deliver tailor-made reports.

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