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Hydraulic Cylinder Market By Function (Single-acting, and Double-Acting), Specification (Welded, Tie Rod, Telescopic, Mill Type), Application (Industrial, Mobile), Bore Size (Less than 50 MM, More than 150 MM), Industry (Construction, Aerospace, Material Handling, Agriculture, Mining, Automotive) & Region - Forecast 2022 - 2032
DUBAI , UAE, March 29, 2022 /PRNewswire/ -- The global hydraulic cylinder market was worth USD 14.3 billion in 2021 and is estimated to grow to USD 18.2 billion by 2027, with a CAGR of 4.2 per cent between 2022 and 2027.
Hydraulic Cylinder Market CAGR (2022-2032)
The increase in sale of construction equipment and vehicles is estimated to result in higher sale of hydraulic cylinders.
Growing technical improvements in the hydraulic industry are driving the global market. Integrating hydraulic cylinders with technology for improved functionality, accuracy, and command in diverse applications is projected to be a key contributor to the hydraulic cylinder market growth.
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For a wide range of construction equipment, modern hydraulic cylinder technologies include multi-stage and sophisticated linear telescopic cylinders and rotary actuators. In the anticipated timeframe, the worldwide construction sector is expected to rise by 85 per cent to USD 8 trillion , resulting in increased global hydraulic cylinder market demand.
The increased supply for heavy construction and mining equipment from the construction, mining, and oil gas industries is largely responsible for the market's rise. The increasing usage of material handling equipment across sectors throughout the world is a primary driver of the hydraulic cylinder market expansion.
Function, specification, bore size, applicability, sector, and region have all been used to segment the global hydraulic cylinder market. Because of their rising acceptance in the construction and material handling industries, government measures to resuscitate infrastructural projects across countries have contributed to driving up demand for hydraulic cylinders.
Increased farm mechanization across regions, particularly in APAC, as well as global increases in mining exploration operations, have all aided the hydraulic cylinder market's expansion.
To make a high-quality hydraulic cylinder, metal forging and accurate engineering are required.
Small and medium-sized businesses (SMEs) face cost constraints when it comes to entering the hydraulic cylinder market. Hydraulic cylinders have ongoing maintenance expenditures in addition to the initial product price. Hydraulic cylinders must be serviced on a regular basis to avoid oil leaks and other problems. The cylinder rod's quality and finish must be checked on a regular basis.
Failure can also be caused by improper rod strength or diameter. The cylinder tube should be inspected on a regular basis since the cylinder walls may wear down over time, reducing its thickness. These characteristics result in higher maintenance expenses, putting a stop to the use of hydraulic cylinders.
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Fluid, the main oil, is used to power hydraulic cylinders. The contamination of the environment is caused by the leakage of these fluids. As a result, end-users who want to keep their environment clean and healthy prefer cleaner alternatives to hydraulic cylinders. Pneumatic cylinders, which employ the pressure of compressed gas to generate a force in a reciprocating linear motion, are one such option.
Pneumatic cylinders are employed in agricultural and material handling operations that necessitate humans being near to the cylinders. The accessibility of cleaner replacements poses a threat to the hydraulic cylinder market's growth.
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Aggressive Inc., Eaton Corporation PLC, Texas Inc, Bosch Rexroth AG, Enerpac Corp., Best Metal Products, Prince Manufacturing Corporation, Caterpillar Inc., Hyco International, Inc, Hydrosila, Pacoma GmbH, Parker-Hannifin Corporation, Weber-Hydraulik Group, Norrhydro Oy, Wipro Infrastructure Engineering, and others are among the leading players in the hydraulic cylinder market.
Hydraulic cylinder producers use a variety of techniques to gain a competitive advantage, including continuous product development and regional growth. Furthermore, the expanding use of these products in energy-intensive industries will provide more advantageous economic prospects for industry participants and a rise in hydraulic cylinder market adoption.
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