The global hydraulic cylinders market size was valued at $14.07 billion in 2020 and is projected to reach $21.2 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030. Hydraulic cylinders are mechanical equipment that offer linear movement for lifting heavy loads or handling bulky materials in industrial and mobile applications. These cylinders are used in construction, load lifting, and equipment handling machinery.
Growth in the global construction sector, increased industrialization, retrofit, and replacement of existing equipment and the surge in infrastructural spending have boosted the growth of the global hydraulic cylinders market. On the contrary, an extensive range of applications and increasing demand for material handling equipment are expected to create lucrative opportunities in the near future.
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The global hydraulic cylinders market is segmented on the basis of function, design, bore size, and geography. Based on function, the market is divided into a single-acting cylinder and double-acting cylinder. The double-acting cylinder segment held the largest share in 2017, accounting for around three-fourths of the market. Moreover, the segment is projected to register 5.2% during the forecast period.
On the basis of design, the market is bifurcated into tie-rod cylinders and welded cylinders. The welded cylinders segment dominated the market, contributing nearly three-fifths of the market. Moreover, the segment is estimated to manifest CAGR of 5.2% during the forecast period.
Based on bore size, the market is divided into less than 50mm, 51mm to 100mm, 101mm to 150mm, and greater than 151mm. The less than 50mm bore size segment is expected to portray CAGR of 6.0% during the study period. However, the 51mm to 100mm bore size segment held the largest share in 2017, accounting for nearly two-fifths of the market.
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The hydraulic cylinders market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2017, accounting for nearly one-third of the market. However, the market across the Asia-Pacific region is anticipated to register the fastest CAGR of 6.6% during the forecast period.
Leading Players:
The market report provides in-depth analysis of the major market players such as Actuant Corporation, Bosch Rexroth AG, Parker Hannifin Corporation, Eaton Corporation Plc, Jiangsu Hengli Hydraulic Co., Ltd., Caterpillar Inc., Kawasaki Heavy Industries, Wipro Enterprises Limited, Jarp Industries, and Texas Hydraulics.
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