|01-11-2019 03:50 PM CET - Energy & Environment||
Hydraulic Cylinder Market will beat USD 16.4 billion by 2025| Key players Caterpillar Inc, Wipro Infrastructure Engineering, Texas Hydraulics, Inc., Hannon Hydraulics LLC
Press release from: Global Market Insights, Inc.
Hydraulic Cylinder Market will chart out a lucrative growth path, given that hydraulic cylinders form the backbone of various commercial and industrial applications. These cylinders are also used to manufacture agricultural equipment to enhance agricultural productivity, which will significantly enhance hydraulic cylinder industry growth. In addition, the high rate of investments by developing economies such as India and China are also expected to contribute to the overall business expansion. As per the report by Global Market Insights, Inc., “Hydraulic cylinder market generated a revenue of USD 10 billion in 2015 and will grow at an annual growth rate of more than 6% over the period of 2016 to 2025.”
Positive outlook in construction sector coupled with increasing adoption of mechanized agricultural equipment will boost industry growth. Increasing demand for material handling equipment including cranes, forklifts and production line conveyors will boost global hydraulic equipment market size. Retrofit and replacement of existing equipment is likely to favor industry growth.
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Weak economic indicators may restrain industry demand over the next five years. Double acting hydraulic cylinder market share dominated the industry with over USD 7 billion revenue in 2015, owing to increasing demand for mobile equipment. Welded hydraulic cylinder market dominated the product landscape and could surpass USD 11 billion revenue by 2025. These are widely used in heavy equipment and requires high end customization.
Based on the product, hydraulic cylinder market is mainly divided into welded and tie rod. Welded hydraulic cylinder industry will surpass a revenue collection of USD 11 billion by 2025. The extensive use of this product in the construction, mining, industrial, and material handling sectors will augment the market growth noticeably. The surging expansion of the agricultural equipment industry will propel the demand for tie rods, which will grow at an annual growth rate of more than 6% over the period of 2016 to 2025.
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Double acting and single acting are the main functional trends of hydraulic cylinder industry. Double acting hydraulic cylinder will collect a revenue above USD 11 billion by 2025, primarily due to the usage of double acting hydraulic cylinders in applications where gravity is the prominent factor, affecting the acceleration and retardation. In addition, double acting function based hydraulic cylinders are extensively used for heavy trucks, forklifting, and earth moving equipment, which will considerably drive overall hydraulic cylinder market share. Single acting hydraulic cylinder market was worth USD 3.12 billion in 2015 and will record substantial growth rate over the coming timeframe.
Geographically, U.S. hydraulic cylinder industry is predicted to generate a revenue of more than USD 3 billion by 2025, owing to heavy investments in the material handling, defense, and aerospace sectors.
China hydraulic cylinder market will collect a revenue of more than USD 1 billion by 2025. The growth can be attributed to the increasing expenditure in infrastructure development. In the years ahead, the Chinese government is willing to invest around USD 151 million in Hubei Xiaogan logistics infrastructure project.
Major industry participants include Bosch Rexroth, Wipro Infrastructure, United Hydraulics, Best Metal Products, Bailey, Aggressive Inc., Caterpillar, Eaton, Enerpac Corp., Hannon, Ligon, Parker, Precision Hydraulics, Prince Corporation, Texas, YELETSGIDROAGREGAT, Norrhydro Oy, Hydrapac Italia, Hydrosila, Burnside Autocyl, Pacoma, CHAPEL HYDRAULIQUE and WEBER-HYDRAULIK.
Hydraulic Cylinder Market Size Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2025 in detail along with the table of contents@ www.gminsights.com/industry-analysis/hydraulic-cylinder-m...
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This release was published on openPR.
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