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 Global Hydraulic Cylinder Market
Posted on : Wednesday, 13 November, 2019  11:01
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Global Hydraulic Cylinder Market is expected to grow from USD 12.52 Billion in 2016 to USD 19.73. Billion by 2024, at a CAGR of 5.85% between 2017 and 2024. (Detailed analysis of the market CAGR is provided in the report)
Global Hydraulic Cylinder Market
Global Hydraulic Cylinder Market in segmented on the basis of Function, Specification, Application, Bore Size, Industry, and Geography. Rising demand in the construction industry and mining process equipment, rising popularity of integrated solution and servicing, increasing demand for lifting equipment in the shipping industry and for material handling equipment in the aerospace & defense industry, rapid industrialization and infrastructural development in developing nations, and continuous demand from the agriculture, construction equipment, mining equipment, material handling equipment, industrial equipment, aerospace, and defense sectors are the major factors driving the growth of the Global Hydraulic Cylinder Market.

However, increasing oil leakage from hydraulic cylinders, limitations in repair and servicing of hydraulic cylinders, and bulky size and messy operation are the key restraining factors for the hydraulic cylinder market growth.

Further key findings from the report:

• The market for Hydraulic cylinders with bore size between 50 and 150 mm accounted for the largest share of the global hydraulic cylinder market in 2016. This can be attributed to rapidly developing storage and material handling infrastructure, modernization of agriculture equipment, and growing construction activities
• Double-acting hydraulic cylinders accounted for the largest market share of the global hydraulic cylinder market in 2016. Double-acting hydraulic cylinders are widely used in industries such as automotive, agriculture, and aerospace owing to its retraction property
• Global Hydraulic cylinder market for industrial equipment application accounted for the larger share of the overall hydraulic cylinder market. The rapid growth of the construction industry in the field of education, healthcare, and social infrastructure owing to growing investments to meet a growing demand for power, would drive the market for this segment
• However, mobile equipment application is anticipated to witness higher growth rate between 2017 and 2024. Owing to bulky size of industrial equipment hydraulic cylinders, it is not possible to use it at remote and hard to reach places, this would further drive the market for mobile hydraulic equipment
• Global Hydraulic cylinder market for Welded hydraulic cylinders accounted for the largest market share in 2016. Welded cylinders are commonly used in heavy duty application such as forklifts, huge cranes, drillers for oilrigs, construction equipment, and material handling
• From the industry segment, construction industry dominated the Global Hydraulic Cylinder Market globally. The construction industry is experiencing major growth in construction investments from the number of developing economies. Countries such as China, US, and India are anticipated to witness major growth in construction industry owing to increasing infrastructures
• Among geographical regions, APAC accounted for the largest share of the overall hydraulic cylinder market in 2016. Growing adoption of mechanized processes in the agriculture sector, enormous development in the farm machinery segment are the major reasons fueling the growth of the market in APAC. China and India account for the major share of the Global Hydraulic Cylinder Market in APAC region

Key Highlights:

• Analysis of competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Global Hydraulic Cylinder Market
• The objective of the report is to provide a detailed analysis of the Global Hydraulic Cylinder Market on the basis of function, specification, application, bore size, industry, and geography
• Complete quantitative analysis of the industry from 2017 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities
• In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
• Analysis of the Global Hydraulic Cylinder Market with respect to individual growth trends, prospects, and contribution to the total market
• Segment wise business performance detailed in the report will be worthwhile for the organizations willing to enhance its business
• Provides detailed information regarding the major factors influencing the growth of the Global Hydraulic Cylinder Market (drivers, restraints, opportunities, and challenges)
• This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business

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