Hydraulic Cylinder Market Size Expected to Surge with Increased Adoption by 2034

According to a recent industry research report published by Fact.MR, a market research and competitive intelligence company, the global hydraulic cylinder market is expected to reach US$ 14.83 billion in 2024 and then grow at a 5.7% CAGR until 2034.

The global demand for hydraulic cylinders is steadily increasing as a result of the ongoing changes in manufacturing and industrial processes caused by advances in industrial automation. Hydraulic cylinders are becoming increasingly popular among businesses looking to improve production, precision, and efficiency.

Hydraulic cylinders provide the necessary power and control for a variety of automated activities such as material handling, assembling, and machining. High precision and dependability are critical in industries such as aerospace and automotive, where hydraulic cylinders enable the smooth operation of gear and equipment.

East Asia controls a sizable piece of the global market due to its well-established industrial sector and high demand for construction and agricultural equipment. Aside from that, regional breakthroughs in hydraulic technology, particularly in automation and smart cylinders, are propelling market growth even further.

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Key Takeaways from Market Study:

·       The worldwide market of hydraulic cylinders is forecasted to touch US$ 25.82 billion by 2034.

·       The East Asia region is estimated to account for 25.9% of the global market share in 2024.

·       North America is analyzed to reach a valuation of US$ 3.38 billion in 2024.

·       Global sales of welded hydraulic cylinders are evaluated to expand at a CAGR of 5.6% from 2024 to 2034.

·       Demand for hydraulic cylinders with 51 to 100 mm bore size is projected to reach a worth of US$ 6.27 billion by 2034-end.

·       The market in Japan is projected to expand at a 5.9% CAGR through 2034.

“Leading manufacturers of hydraulic cylinders are focusing on developing advanced equipment that is more powerful, precise, and effective. For real-time monitoring, these cylinders have smart hydraulic systems with sensors and Internet of Things technologies,” says a Fact.MR analyst

Leading Players Driving Innovation in the Hydraulic Cylinder Market:

KYB Corporation; Enerpac Tool Group; SMC Corporation; HYDAC; Caterpillar; Bosch Rexroth; Jiangsu Hengli Hydraulic Co., Ltd.; Eaton Corporation; Actuant Corporation; Wipro Limited; Texas Hydraulics; Garden Flavours Co. Pvt. Ltd.

High Preference for Welded Hydraulic Cylinders:

Welded hydraulic cylinders are in more demand than other product categories due to their strength and lifespan. Welded cylinders are better suited for heavy-duty applications such as construction, mining, and agricultural machinery since they are completely enclosed and can withstand severe environments. They are perfect for equipment that requires less room due to their compact design.

The fact that welded cylinders have fewer leakage points increases their dependability and minimises the need for maintenance, which is why they are becoming more popular in industries that demand equipment with a reputation for efficiency and durability.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the hydraulic cylinder market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (tie-rod, threaded, welded, bolted/mill, telescopic), bore size (<50 mm, 51 to 100 mm, 101 to 150 mm, 151 to 300 mm, above 300 mm), operating principle (single acting, double acting, multistage/tandem), and application (industrial equipment [lifts & aerial work platforms, rams & presses, loading docks, injection molding machines, oil & gas and offshore applications, others], mobile equipment [agricultural & forestry vehicles, construction equipment, mining & material handling equipment, others]), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

Hydraulic Cylinder Market News:

According to Wipro Hydraulics, the hydraulic cylinder and component manufacturing division of Wipro Infrastructure Engineering, the state-of-the-art facility in Mahindra World City, Jaipur, which is the company's first hydraulics manufacturing facility in Northern India, will be able to produce hydraulic cylinders for customers all over the world in August 2024.

Source: https://www.globenewswire.com/news-release/2024/11/05/2974734/0/en/Hydraulic-Cylinder-Market-is-Expected-to-Expand-at-a-CAGR-of-5-7-Reaching-US-25-82-Billion-by-2034-Fact-MR-Report.html