Press release
Hydraulic Cylinder Market Growing Enormously Till 2024 with Wipro Infrastructure Engineering, Texas Hydraulics, Inc., Hannon Hydraulics LLC, Caterpillar Inc., WEBER-HYDRAULIK GMBH, United Hydraulics
Hydraulic Cylinder Market
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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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.
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.
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Key insights from the report include:
• China hydraulic cylinder market share was valued at USD 0.79 billion in 2015. Increasing infrastructural spending will drive the industry growth by 2025.
• U.S. hydraulic cylinder market is forecast to reach over USD 3 billion by 2025. Increasing investment on aerospace and defense will boost the demand for hydraulic cylinders in the near timeframe. Growing demand for material handling and construction equipment will further compliment the industry outlook.
• Mobile applications were valued at over USD 7.05 billion in 2015 and are expected to witness gains of over 4% in the near future.
• Germany is set to exceed 1.5 million units in demand by 2025, in terms of volume, and is estimated to grow at over 4% CAGR subjected to increasing demand from renewable energy companies coupled with increasing demand for specialized cylinders.
• Russia hydraulic cylinder market share accounted for over 35% of regional revenue size, growing at more than 3.6%. Increasing demand for modern agricultural equipment coupled is likely to boost the hydraulic equipment market.
• The Middle East market is projected to expand over 5% by 2025. Growing demand for industrial and material handling equipment is a key factor propelling industry growth.
Hydraulic Cylinder Market By Function, By Product, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2025 in detail along with the table of contents@ https://www.gminsights.com/industry-analysis/hydraulic-cylinder-market
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