Hydraulic Cylinder Market Size, Growth, Trends | Report 2022-2030
The global hydraulic cylinder market was surpassed at USD 15.4 billion in 2021 and is expected to hit around USD 22.36 billion by 2030, growing at a CAGR of 4.23% from 2022 to 2030
Report Highlights
The global market is primarily driven by the growth of the building and construction industry and rising investments in the aerospace and defense industry. Hydraulic cylinders are widely used in the construction industry and are used in various construction and infrastructure projects such as bridges, roads, tunnels, and buildings. The increasing investments by governments and private players in the construction and infrastructure industry are augmenting the demand for hydraulic cylinders.
The aerospace and defense industry is one of the key end-users of this product. It is used in aircraft in actuate brakes, landing gears, and flight control and fuel systems. The demand for this product is propelling in the aerospace and defense industry owing to its superior mechanical properties and the ability to handle harsh environments. The availability of other alternatives in the market gives end-users a position to make their choices depending on their needs. However, these products are cost-efficient and long-lasting, thus making them preferable in certain applications such as aerospace and defense.
The growing penetration of the e-commerce industry is expected to positively impact the market. These products are used in dock loading equipment and forklifts, which are used for supporting warehouse and logistics industries. Major e-commerce giants are investing in developing their businesses. The presence of numerous industries, coupled with growth in the manufacturing sector of economies such as China, India, and Southeast Asian nations, is propelling regional growth. Moreover, numerous investments in construction and infrastructure, mining, and energy-related projects are anticipated to boost the demand for hydraulic cylinders over the forecast period.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 15.4 billion |
| Revenue Forecast by 2030 | USD 22.36 billion |
| Growth rate from 2022 to 2030 | CAGR of 4.23% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Function, product, application, region |
| Companies Covered | Eaton; SMC Corporation; Liebherr; PARKER HANNIFIN CORP; Caterpiller; Bosch Rexroth AG; Lehigh Fluid Power, Inc.; Hengli Hydraulic; WEBER-HYDRAULIK GMBH; Burnside Autocyl; Pacoma GmbH; Charvát Group s.r.o; Southern Hydraulic Cylinder, Inc.; Yates Industries Inc.; Texas Hydraulics |
Function Insights
The double-acting segment dominated the market and accounted for over 70.06% share of the global revenue in 2021. Double-acting hydraulic cylinders find applications in large-scale engines such as ship motors, steam engines, industrial furnaces, earthmoving, and other construction equipment. The increase in the product demand within the aforementioned applications is expected to propel the demand for double-acting hydraulic cylinders over the forecast period.
The single-acting hydraulic cylinder is expected to expand at a CAGR of 4.09 % over the forecast period. These cylinders find application in hydraulic jacks, factory automation settings, handling packages, handling materials, clamping, drilling with the handheld machine, and punching. The growth of the aforementioned applications is expected to augment the use of single-acting hydraulic cylinders over the forecast period.
Product Insights
The welded segment led the industry and accounted for more than 50.22% share of the global revenue in 2021. Welded hydraulic cylinders find applications in various industries such as construction, oil and gas, mining, waste handling and material handling, and heavy equipment. The rise in the consumption of welded hydraulic cylinders in these industries is expected to augment the segment growth.
The telescopic segment is likely to expand at a significant CAGR of 5.43% over the forecast period. These cylinders can be made as double-acting or single-acting cylinders, which allow them to be used for a wide range of applications. These cylinders are used for material handling, waste handling, trucks used in construction, and various applications in the agriculture industry.
Mill-type cylinders are used in various industries such as energy, oil and gas, mining, defense, machine tools, molding, automotive, plastic processing, primary metal refining, and rubber and tie processing. Increasing investment in the aforementioned industries is expected to increase the demand for mill-type hydraulic cylinders over the forecast period.
Tie rod cylinders have a wide range of applications such as clamping, bending, shearing and forging, pressing, and counterbalancing. Increasing demand for these cylinders owing to their short delivery time and cost-effectiveness is expected to propel industry growth over the forecast period.
Application Insights
The mobile application segment led the market and accounted for over 50.03% share of the global revenue in 2021. Hydraulic cylinder is widely used in mobile applications such as loaders, excavators, mobile cranes, and telescopic loader. The increasing investment by government and private players in the aforementioned industries is propelling the demand for hydraulic cylinders in mobile applications.
Hydraulic cylinder-based equipment has a huge demand in industrial applications. Such equipment is used in various industrial processes such as forging, milling, drilling, casting, pressing, and sheering. Hydraulic cylinders are used in various types of machinery such as steel plant equipment, pulp and paper machinery, presses, and forklifts.
The demand for hydraulic cylinders has significantly increased in the energy and power segment, in applications such as wind turbines, gates of actuation, and valve actuation. The increasing consumption of energy has driven new power projects, which are expected to propel the demand for hydraulic cylinders over the forecast period.
Other applications of hydraulic cylinders include equipment and machinery utilized in the aerospace and defense and agricultural industries. Hydraulic cylinder is extensively used in aerospace and defense applications such as aircraft brakes and wheels, engine systems, flight control, and armored personnel carriers. Growth in aircraft production and rising investments in the defense industry are expected to benefit industry growth over the coming years.
Regional Insights
Asia Pacific led the market and accounted for over 30.2% share of the global revenue in 2021. Asia Pacific is one of the largest consumers of hydraulic cylinders in the world owing to the increasing requirement for hydraulic equipment in various industries, such as infrastructure and construction, automotive, renewables, machine tooling, and logistics.
Countries in North America are focused on accelerating their economic growth rate by investing in infrastructure and construction, oil and gas, transportation, aviation, logistics, and shipping industries. The growth of these industries is anticipated to augment the demand for hydraulic cylinders in North America over the forecast period.
The European region is likely to expand at a CAGR of 3.5% over the forecast period. The renovation and decarbonization of buildings in Europe are expected to increase the consumption of hydraulic-based equipment such as excavators, bulldozers, trucks, and cranes in the region. This is expected to fuel the growth in Europe over the forecast period.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Hydraulic Cylinder Market
5.1. COVID-19 Landscape: Hydraulic Cylinder Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Hydraulic Cylinder Market, By Function
8.1. Hydraulic Cylinder Market, by Function, 2022-2030
8.1.1 Double-acting
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Single-acting
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Hydraulic Cylinder Market, By Product
9.1. Hydraulic Cylinder Market, by Product, 2022-2030
9.1.1. Welded
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Tie Rod
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Telescopic
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Mill Type
9.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Hydraulic Cylinder Market, By Application
10.1. Hydraulic Cylinder Market, by Application, 2022-2030
10.1.1. Mobile
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Industrial
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Energy & Power
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Others
10.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Hydraulic Cylinder Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Function (2017-2030)
11.1.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Function (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Function (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Function (2017-2030)
11.2.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Function (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Function (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Function (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Function (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Function (2017-2030)
11.3.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Function (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Function (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Function (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Function (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Function (2017-2030)
11.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Function (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Function (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Function (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Function (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Function (2017-2030)
11.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Function (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Function (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 12. Company Profiles
12.1. Eaton
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. SMC Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Liebherr
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. PARKER HANNIFIN CORP
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Caterpiller
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Bosch Rexroth AG
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Lehigh Fluid Power, Inc.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Hengli hydraulic
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. WEBER-HYDRAULIK GMBH
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Burnside Autocyl
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers