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Hydraulic Cylinder Market

Market Study on Hydraulic Cylinders: Demand for Welded Cylinders to Increase Substantially

Global Hydraulic Cylinder Market By Product (Tie-rod Hydraulic Cylinders, Threaded Hydraulic Cylinders, Welded Hydraulic Cylinders, Bolted/ Mill Hydraulic Cylinders, Telescopic Hydraulic Cylinders, and Other Cylinders)

Hydraulic Cylinder Market Outlook (2024 to 2031)

The global hydraulic cylinder market amounts to US$ 14,825.2 Million in 2024 and is projected to expand at 5.5% CAGR to reach a size of US$ 21,574.4 Million by the end of 2031.

There are many uses for hydraulic cylinders, including lifting, pushing, and pulling. Depending on the application, they can also provide rotary or linear motion. Because hydraulic cylinders are made to endure high pressures and challenging situations, they have a longer lifespan and require less maintenance. Many applications benefit from the smooth, accurate, and reliable motion that hydraulic cylinders can produce.

Hydraulic cylinders are well-suited for compact spaces due to their small size and ability to fit in restricted areas. When compared to other actuators, they provide greater control and facilitate precise movement and positioning of objects. Hydraulic cylinders are reliable and require minimal maintenance.

Attribute

Details

Hydraulic Cylinder Market Size (2023A)

US$ 14,070.4 Million

Estimated Market Value (2024E)

US$ 14,825.2 Million

Projected Market Value (2031F)

US$ 21,574.4 Million

Value CAGR (2024 to 2031)

5.5%

Collective Value Share of Top 6 Countries (2023)

55% to 60%

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Revenue Analysis of Hydraulic Cylinders (2018 to 2023) vs. Market Projections (2024 to 2031)

The global market for hydraulic cylinders is predicted to expand around 1.6X between 2024 and 2031.

Various tools and pieces of equipment that employ hydraulic systems are frequently found on building sites. Forklifts, bulldozers, and loaders, for instance, are propelled by hydraulic cylinders to lift and push objects. In addition, hydraulic cylinders and pumps are utilized in concrete pumps, enabling the movement of liquid concrete to specific locations, as well as in brick molding equipment.

Trenchers, shears, compactors, augers, and concrete busters are other construction tools and machinery that use hydraulic cylinders. The pace of technological advancements is increasing rapidly. Hybrid actuator systems (HAS) are particularly well-suited for demanding power generation applications such as solar panels, wind turbines, and hydroelectric dams.

By integrating a sensor, HAS eliminates the need for complex gun drilling and exposed external sensors, leading to improved efficiency and reduced maintenance requirements.

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What is Leading to Increased Demand for Hydraulic Cylinders Worldwide?

“Growing Demand for Hydraulic Cylinders Driven by Increasing Construction and Infrastructure Development Activities”

Demand for hydraulic cylinders in the construction sector is anticipated to rise, as infrastructure projects involving roads, bridges, dams, and other large-scale developments necessitate the usage of heavy machinery and equipment, all of which utilize hydraulic cylinders. As the number of these projects rises, so will the demand for hydraulic cylinders and other parts used in hydraulic systems. Hydraulic cylinders are utilized in many other sectors, including mining, forestry, and agriculture.

Compared to other actuators, hydraulic cylinders offer more control and can be used to precisely move and position items. Their compact size can make them fit in areas where space is limited. Hydraulic cylinders have the capability of generating significant force, and their size allows them to effectively move heavy machinery.

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What are the Hindrances to the Demand Growth for Hydraulic Cylinders?

“Preference for Pneumatic Cylinders Due to Their Higher Operation Speeds Compared to Conventional Cylinders”

Although hydraulic cylinders are quite popular among customers across the globe due to their extensive range of applications in various types of industries, preference for pneumatic cylinders over hydraulic cylinders can pose a challenge to market growth.

Pneumatic cylinders have a simplistic design and are more accurate while generating a precise linear motion. Availability of pneumatic cylinders in smaller sizes and their higher operation speeds have turned many customers in their favor.

Integration of pneumatic cylinders with electronic monitoring systems allows for versatile advancements in their operation, making them suitable for miniaturization at relatively lower costs. Due to these advantages over hydraulic cylinders, many customers are favoring pneumatic cylinders, which could potentially impact the demand for hydraulic cylinders.

New players entering the market face stiff competition from established businesses that already have a strong customer base and brand loyalty, and better economies of scale. Successful navigation through this competitive landscape often translates into longer periods before reaching profitability.

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Country-wise Analysis

What are the Opportunities for Manufacturers of Hydraulic Cylinders in the United States?

“Increasing Need for Lifting Equipment in Shipping Industry”

The market in the U.S. is projected to expand at a CAGR of 4.8% over the forecast period (2024 to 2031).

Shipping containers of various shapes, sizes, and weights can be commonly seen in dockyards, often stacked several hundred feet high. There is a wide variety of containers with standard lengths of 20, 40, 45, 48, and 53 feet, and weights ranging between 30 and 42 tonnes across the globe. Specialized lifting machinery is used for handling and transporting these large containers during shipping operations.

Shipping plays a critical role in supporting global trade by transporting a wide range of goods, such as electronics, cars, textiles, raw metals, and oil and gas. The shipping industry's growth is further facilitated by the adoption of industrial IoT (Internet of Things) technologies and government support, which enhances both institutional and technological aspects. As a result, there is an increasing demand for lifting equipment at ports to efficiently handle and manage cargo during the shipping process.

What are the Factors Driving the East Asia Hydraulic Cylinder Market?

“High Demand for Hydraulic Cylinders Driven by Infrastructure and Renewable Energy Projects”

The market in East Asia is expected to expand at a CAGR of 4.5% through 2031, driven by growing demand for construction and mining equipment.

Rising demand for hydraulic cylinders in East Asia can be attributed to several recently announced projects in the region. China's extensive investments in infrastructure development, including roads, bridges, and airports, have led to a surge in demand for construction machinery such as excavators, bulldozers, and cranes. These machines heavily rely on hydraulic cylinders for their operation, resulting in a substantial increase in the demand for hydraulic cylinders.

South Korea's focus on renewable energy initiatives has led to significant investments in construction and mining machinery, further driving the need for hydraulic cylinders. The requirement for high-performance equipment to complete these projects has also contributed to the increased demand for hydraulic cylinders in the region.

How is the Hydraulic Cylinder Market Faring in Germany?

“High Sales of Hydraulic Cylinders Backed by Growing Emphasis on Building Renovations”

Germany accounted for 19.2% share of the European market in 2023..

Growing emphasis on renovating buildings is fueling demand for hydraulic cylinders.

  • The sales volume of hydraulic cylinders in Germany climbed by 5.2% in 2019, according to research done by the German Trade Association (BDH), with the refurbishment industry experiencing a growth rate of 8.2%. This suggests that the wave of refurbishment has positively impacted the hydraulic cylinder market, leading to an increase in demand for these goods.
  • The construction and automotive sectors are the major growth drivers in the industry.

Construction companies are increasingly adopting hydraulic cylinders to enhance productivity and achieve cost savings.

Category-wise Insights

Which Type of Hydraulic Cylinder is Most Widely Preferred?

“Lightweight and Compact Construction of Welded Rod Hydraulic Cylinders Driving Their Widespread Adoption”

Sales of welded rod hydraulic cylinders are anticipated to rise at a CAGR of 6.6% during the forecast period.

The lightweight and compact construction of welded rod hydraulic cylinders is a considerable advantage. Despite their small shape, they are perfect for heavy-duty applications and severe conditions because of their sturdy welding construction.

Welded rod cylinders can be used in even the most demanding applications because of their capacity to handle moderate to heavy loads. High-pressure applications like energy production, as well as maritime and offshore conditions, benefit from the performance of welded hydraulic cylinders due to their durability.

Why Does the Double Acting Operating Principle Account for High Demand?

“Extensive Adoption of Double-Acting Hydraulic Cylinders for Enhanced Movement Control and Energy Efficiency”

The double-acting segment contributed 56.3% to the global market in 2023. Double-acting cylinders are becoming increasingly popular due to various factors, such as more movement control and less use of energy while being faster & stronger.

Greater flexibility in controlling piston extension and withdrawal is a major advantage of double-acting hydraulic cylinders. The piston can be easily moved back and forth, allowing for full retraction to its initial position. This feature enables faster work as there is no need to wait for gravity or spring to retract the piston.

Which Equipment is Estimated to Gain Traction Over the Coming Years?

“Precise Positioning, Automated Overload Protection, and Variable Speed Control Offered by Mobile Equipment”

The mobile equipment segment is anticipated to advance at a CAGR of 5.7% through 2031. Mobile equipment applications include lifts & aerial work platforms, ramps & presses, loading docks, and injection molding machines.

Hydraulic cylinders possess the capability to deliver significant power to equipment even at considerable distances from the power source. They offer advantages in terms of precise positioning, automated overload protection, and variable speed control. As a result, hydraulic cylinders are increasingly appealing to consumers, especially when operating in challenging conditions.

Competition Landscape

The hydraulic cylinder market is highly competitive, with a range of brands and sizes available at different price points. Some of the leading brands in the market include Bosch Rexroth AG, Actuant Corporation, Parker Hannifin Corp, and Jiangsu Hengli Hydraulic Co., Ltd. These players focus on research & development and strive to introduce innovative services with extra features to enhance their market presence.

For instance:

  • In 2021, Danfoss completed its acquisition of Eaton's hydraulics business, marking a significant milestone in the company's growth and expansion.
  • In January 2020, Enerpac Tool Group completed the acquisition of HTL Group, which is headquartered in Cramlington, England. HTL Group is renowned as the United Kingdom’s leading supplier of controlled bolting products. The company has a robust rental business and offers calibration, repair, and training services in its repertoire of capabilities.

Hydraulic Cylinder Industry Report Scope

Attribute

Details

Forecast Period

2024 to 2031

Historical Data Available for

2018 to 2023

Market Analysis

  • US$ Million for Value
  • Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia Pacific
  • East Asia
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • AESEAN
  • Türkiye
  • South Africa

Key Market Segments Covered

  • Bore Size
  • Product Type
  • Operating Principle
  • Application
  • Region

Key Companies Profiled

  • Parker Hannifin Corporation
  • Eaton Corporation
  •  Bosch Rexroth
  • Caterpillar Inc.
  • Jiangsu Hengli Hydraulic Co., Ltd.
  • Bucher Industries AG
  • SMC Corporation
  • Danfoss A/S
  • KYB Corporation
  • Others (as per Request)

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Key Segments of Hydraulic Cylinder Industry Research

By Bore Size:

  • <50 mm
  • 51 to 100 mm
  • 101 to 150 mm
  • 151 to 300 mm
  • Above 300 mm

By Product Type:

  • Tie-Rod Cylinders
  • Threaded Cylinders
  • Welded Hydraulic Cylinders
  • Bolted/ Mill Type Cylinders
  • Telescopic Cylinders
  • Others

By Operating Principle:

  • Single Acting
  • Double Acting
  • Multistage/Tandem

By Application:

  • Industrial Equipment
    • Lifts & Aerial Work Platforms
    • Rams & Presses
    • Loading Docks
    • Injection Molding Machines
    • Oil & Gas and Offshore Applications
    • Others
  • Mobile Equipment

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

- Companies Covered in This Report -

  • Parker Hannifin Corporation
  • Eaton Corporation
  •  Bosch Rexroth
  • Caterpillar Inc.
  • Jiangsu Hengli Hydraulic Co., Ltd.
  • Bucher Industries AG
  • SMC Corporation
  • Danfoss A/S
  • KYB Corporation

- Frequently Asked Questions -

The global hydraulic cylinder market reached a valuation of US$ 13.89 billion in 2022.

From 2018 to 2022, worldwide demand for hydraulic cylinders increased at a CAGR of 3.5%.

North America accounted for a dominant share of the market in 2022.

Bosch Rexroth, Actuant Corporation, Parker Hannifin, and Jiangsu Hengli Hydraulic are key market players.

The global market is predicted to expand at 4.5% CAGR through 2033.

Rapid infrastructure development and building renovation activities are key trends in this market.

The market for hydraulic cylinders is forecasted to reach US$ 22.45 billion by 2033-end.

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