Hydraulic Cylinders Market Was Valued at USD 14,075.0 million in 2021 Owing to Increased Prevalence of Product Enhancements

According to Precision Business Insights (PBI) latest report the global hydraulic cylinders market is valued at USD 14,075.0 Million in 2021. Global hydraulic cylinders market segmented into following types: By Function (Double Acting and Single Acting), By Design (Tie-Rod Cylinders, Welded Cylinders, Telescopic Cylinders, and Mill Type Cylinders), By Bore Size (Less than 50 mm, 51 mm to 100 mm, 101 mm to 150 mm, and Greater than 151 mm), By Application (Construction, Aerospace & Defense, Material Handling, Agriculture, Mining, Automotive, Oil & Gas, Others), and Geography (North America, Europe, Asia-Pacific, Latin America, and MEA) Forecast to 2028. Key player's profiles in the hydraulic cylinders market report are Eaton., Enerpac Tool Group., Hengli Group Co., Ltd, SMC Corporation., PARKER HANNIFIN CORP, Wipro Infrastructure Engineering, Bucher Hydraulics GmbH., Bosch Rexroth AG, KYB Americas Corporation. The market's expansion is primarily due to rising demand for mining vehicles from the construction, mining, and oil and gas industries. The rising use of material handling equipment in various industries worldwide is also a significant driver of market growth. The market is being driven by the construction industry's growth potential, which is causing a growth in the adoption of automated heavy construction vehicles with hydraulic cylinders for diverse activities. The growing use of material handling equipment in areas including agriculture, construction, and mining has boosted demand for hydraulic cylinders worldwide. High maintenance costs in manufacturing are hampering the market.

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Double-acting hydraulic cylinders segment Dominates the Hydraulic Cylinders Market:
In the hydraulic cylinders market, in 2021, the double-acting hydraulic cylinders segment accounted for a larger revenue share and is anticipated to grow with a CAGR of X% from 2022 to 2028 to reach USD X Mn by 2026. Mobile applications such as earth moving equipment, lifting equipment, and forklifts have a more significant demand for double-acting hydraulic cylinders. These cylinders can be used to open and close drawers in presses and chippers, as well as to raise and lower devices like excavators and cranes.

Asia-Pacific Leads Hydraulic Cylinders Market
In 2021, the Asia-Pacific hydraulic cylinders market had the largest market share of 29.3 percent. The increased number of applications for material handling equipment, growing adoption of material handling equipment for coal mining, diamond mining, high volume handling, and the establishment of new manufacturing facilities to meet necessary market demand from associate countries to India and China are the main factors driving hydraulic cylinders growth. North America will also be the second-largest shareholder in the global hydraulic cylinders market as a result of the expanding use of hydraulic cylinders.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
The global hydraulic cylinders market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In March 2022, The Hengli's largest pile-driving vessel hydraulic cylinder and system has been successfully delivered. In March 2021, Power management company Eaton announced it has completed the acquisition of Tripp Lite. Headquartered in Chicago, Illinois, Tripp Lite is a leading supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical and communications markets in the Americas.

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Detailed Segmentation:
Based on the Device Type, the market is segmented into the following:
• Photodynamic
• Laser
• Radiofrequency
• Others

Based on the End User Industry, the market is segmented into the following:
• Hospitals
• Clinics
• Salon & Spa
• Individual Home
• Others.

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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