Hydraulic Cylinder Market - Key Players & Growth Strategies Adopted by Them

The global hydraulic cylinder market is expected to grow at a moderate CAGR of 4.2 %, reaching nearly US$ 22.3 billion by 2032, up from US$ 14.2 billion in 2021. Increased spending on infrastructure development and natural resource mining is expected to be the primary factor driving hydraulic cylinder market sales.

The global market is being driven by growing technological advancements in the hydraulic industry. Integrating hydraulic cylinders with technology to improve functionality, accuracy, and command in a variety of applications is expected to be a major contributor to the growth of the hydraulic cylinder market.

Modern hydraulic cylinder technologies include multi-stage and sophisticated linear telescopic cylinders and rotary actuators for a wide range of construction equipment. The global construction sector is expected to grow by 85% to USD 8 trillion over the forecast period, resulting in increased global hydraulic cylinder market demand.

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Key Takeaways

The mobile application of hydraulic cylinders is expected to grow by more than 4%. Product demand is expected to be driven by increased expenditure in the chemical industry to meet the demand for linear motion.
As per the global hydraulic cylinder market study, the tie rod hydraulic cylinder industry is projected to have grown by more than 4%. Increasing the use of agricultural equipment for farming in order to increase production capacity in order to keep up with the rising population rate may boost industrial dynamics.
The single-acting hydraulic cylinder industry is anticipated to have grown by more than 4%. The installation of these items will be driven by the growing need for material handling equipment in the food and beverage industry to produce linear motion for conveyor belts and assembly lines.
China and the United States are two markets with strong CAGRs. By 2031, North America and East Asia are expected to have a combined market share of roughly 35%.
Over the projection period, demand for hydraulic cylinders in India is expected to grow at a nearly 7% CAGR. The market is reinforced by ongoing and planned industrial and infrastructure developments around the country, which are mostly financed by the government.
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Key Segments

By Function:

Single-Acting
Double-Acting
By Specification:

Welded
Tie Rod
Telescopic
Mill Type
By Application:

Industrial
Mobile
By Bore Size:

< 50 MM
50 MM to 150 MM
> 150 MM
By Industry:

Construction
Aerospace
Material Handling
Automotive
Mining
Marine
Oil & Gas
Others
By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.