The global Hydraulic Cylinder Market is expected to hold a valuation of USD 15.3 billion in 2023. The market is projected to register a CAGR of 4.6% during the forecast period. The market is expected to cross USD 24 billion by 2033.
Key factors that may propel the market growth are:
The use of hydraulic equipment to convert mechanical force into a linear motion helps in lifting and carrying of large size heavy materials in construction and mining fields. With the improving and expanding world economy, mining, and infrastructure development has gained pace, thereby boosting the market growth.
Hydraulic cylinders, along with hydraulic ram and hydraulic piston, are essential physical components of the hydraulic system. The hydraulic cylinder market is growing with rising demand for heavy machinery and vehicles installed with hydraulic systems to perform transportation and raw material displacement works.
Upgradation of existing industrial units is anticipated to provide greater demand for custom hydraulic cylinders, which are installed in the production line. Many setups are focusing to transform the process into automated and semi-automatic versions, which might be a driving factor for the market.
Mechanization of other sectors of the economy such as agriculture, healthcare, and others are also expected to surge the demand. Farm hydraulic cylinders have emerged as a key segment for the manufacturers, they can be installed in small agricultural equipment and tractors.
The increasing size of dockyards and harbors due to surging traffic of international trade is another sector with a huge opportunity for large and small hydraulic cylinders. The hydraulic systems used in lifting machines for shipping these trading materials in bulk are highly sought-after in the current times.
Asia Pacific is expected to be the leading market owing to rapid infrastructural development to support a rapidly expanding economy. All the sectors of its economy are undergoing extensive overhauls in terms of volume and revenue generation. A greater emphasis by regional governments on the use of machinery and equipment for agriculture and small-scale industries has increased the demand for hydraulic cylinders.
The North America market is also expanding at a rapid pace following the trend of using smart technologies in major areas. Automation of heavy machinery and integration of IoT has provided immense opportunity for the market players.
| Attributes | Value |
|---|---|
| Hydraulic Cylinder Market Value (2022) | USD 14.7 billion |
| Hydraulic Cylinder Market Expected Value (2023) | USD 15.3 billion |
| Hydraulic Cylinder Market Forecast Value (2033) | USD 24 billion |
| Hydraulic Cylinder Market Expected CAGR (2023 to 2033) | 4.6% |
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The sales of hydraulic cylinders are expected to increase due to their ability to deliver power loads. This is despite their presence far away from the power generation source. The end users are particularly overwhelmed by their ability to conserve far more energy than their pneumatic and electro-mechanical counterparts.
Owing to the many benefits offered by hydraulic cylinders, FMI researchers have pointed out that the market may witness a massive increase in their adoption. While the historical CAGR was merely 2%, the anticipated CAGR is 4.6%. An increase of more than 2 times can be attributed to surging infrastructural activities, and the ability of the hydraulic cylinders to work flawlessly in harsh conditions.
During this timeframe, the manufacturers may be looking to fast-track the infrastructural activities which were in hibernation mode over the past couple of years. This might increase the adoption of hydraulic cylinders as these are very accurate and precise, and operate at a decent speed as well.
With the market expected to exhibit above-average growth, the manufacturers are willing to expand their presence. For example, Liebherr, which has been manufacturing hydraulic cylinders decided to open a new plant in Oberopfingen by 2025.
Fluctuating prices of raw materials in the international market used in the manufacturing of hydraulic or lifting cylinders are expected to be a key challenge. The market for hydraulic cylinders is driven by the sale of hydraulic systems that requires the assimilation of their parts such as hydraulic ram and hydraulic pistons.
Any disruption in the market related to the supply and availability of these associated parts can severely hamper the consumption of hydraulic cylinders.
Strict government regulations to avoid contamination of the environment by the fluid in hydraulic systems is a major deterring factor. Replacement of this fluid with some more environmentally sound solutions remains the main challenge.
| Region | North America |
|---|---|
| Country | United States |
| CAGR (2023 to 2033) | 3.5% |
| Region | Europe |
|---|---|
| Countriy | United Kingdom |
| CAGR (2023 to 2033) | 3.9% |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR (2023 to 2033) | 6.3% |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR (2023 to 2033) | 5.1% |
| Regions | Asia Pacific |
|---|---|
| Country | South Korea |
| CAGR (2023 to 2033) | 5.4% |
The United States is one of the leading waste management markets. Based on the data available, the annual treatment capacity is expected to surpass 270 million tonnes.
This is also impacted by the surging urban population. Hydraulic cylinders are used in the waste management industry to provide adequate torque to control the machines. The trash compactors make use of hydraulic cylinders to compress waste in the trash trucks. The street sweepers that are used for cleaning the roads make use of hydraulic cylinders to rotate the brushes.
| Attributes | Details |
|---|---|
| United States Market Expected Size (2033) | USD 4.5 billion |
| United States Market Absolute Dollar Growth | USD 1.3 billion |
| CAGR % 2017 to 2022 | 1.6% |
The United Kingdom is currently a huge market for massive food packaging. The food packaging market is expected to reach a valuation of USD 9.1 billion in 2023. The food packaging equipment makes use of hydraulic cylinders to achieve precision for the right dimensions and to keep the food fresh.
The conveyor systems derive power from the hydraulic cylinders for processing and positioning the food products. These cylinders are also used to transport raw materials.
| Attributes | Details |
|---|---|
| United Kingdom Market Expected Size (2033) | USD 364.1 million |
| United Kingdom Market Absolute Dollar Growth | USD 115.5 million |
| CAGR % 2017 to 2022 | 1.2% |
The construction market in China was valued at USD 4.8 trillion in 2021. This market is expected to grow at a rate of 5.2%. Hydraulic cylinders are used in the construction sector to power the bulldozers, and loaders to push the loads.
The excavators also make use of hydraulic cylinders to control the movements. Hydraulic cylinders are also used in brick molding machines and concrete busters to improve the precision of these machines. The forklifts make use of hydraulic cylinders as these power the forklifts to lift heavy loads.
| Attributes | Details |
|---|---|
| China Market Expected Size (2033) | USD 3.2 billion |
| China Market Absolute Dollar Growth | USD 1.5 billion |
| CAGR % 2017 to 2022 | 2.6% |
Japan is the leading aerospace market in Asia and has reported a turnover of more than USD 25 billion. Hydraulic cylinders are believed to be one of the most crucial components for landing gears, flight controls, cargo doors, etc. The hydraulic cylinders are only employed by the manufacturers after going through a series of safety tests, which further increases consumer confidence.
| Attributes | Details |
|---|---|
| Japan Market Expected Size (2033) | USD 1.6 billion |
| Japan Market Absolute Dollar Growth | USD 636.7 million |
| CAGR % 2017 to 2022 | 3.1% |
These are found to be highly effective for defense purposes as well. From steering rudders on submarines to assisting in missile erection from launch platforms, hydraulic cylinders can provide a wide range of operations.
In 2021, South Korea ranks fourth in the production of passenger cars. The hydraulic cylinders are used for pressing, pulling, and lifting the vehicles at a high force. The hydraulic cylinders also provide the required force that moves parts of a vehicle in one plane. The telescopic hydraulic cylinders are highly preferred in the automobile sector because of being cost-effective and save lots of space. Thus, they are used in vehicle trailers.
| Attributes | Details |
|---|---|
| South Korea Market Expected Size (2033) | USD 1.1 billion |
| South Korea Market Absolute Dollar Growth | USD 453.1 million |
| CAGR % 2017 to 2022 | 2.7% |
| Segment | Product Type |
|---|---|
| Attributes | Welded Hydraulic Cylinder |
| CAGR (2017 to 2022) | 2.3% |
| CAGR (2023 to 2033) | 4.6% |
| Segment | Application |
|---|---|
| Attributes | Mobile Equipment |
| CAGR (2017 to 2022) | 2.1% |
| CAGR (2023 to 2033) | 4.5% |
The welded hydraulic cylinder segment is expected to hold the dominant share. The welded hydraulic cylinders have superior seal packaging, which increases their life expectancy. These also beautify the equipment on which they are used. These work exceptionally well in the applications in which space factor is taken into consideration. Most importantly, the welded hydraulic cylinders are customizable, which provides a lot of options to the manufacturers as well. Being highly durable, these can be used in harsh conditions as well.
The mobile equipment segment is expected to hold the leading share. Mobile equipment is used in some of the most critical sectors, and these are implemented on large scale. In the agricultural sector, these are used in fields, cultivation, and harvesting equipment for actuating various attachments.
The mobile equipment is also used in automotive vertical parking systems for delivering parking solutions in densely populated areas. In the construction sector, mobile equipment is used for concrete mixes, which represents massive prospects for the segment.
The start-ups operating in the market are looking to offer their products to different sectors. Instead of specializing in a single product type, they are looking to diversify their offerings. To increase the versatility of the operations, the new players are making use of the multi-stage operating principle.
Suloshi Hydraulics and Manufacturing Solutions Private Limited:
The start-up has been engaged in manufacturing tie rod pneumatic cylinders, telescopic hydraulic cylinders, hydraulic clamp cylinders, etc. They have the reputation of delivering products as per the set standards. They are a team of highly qualified and skilled professionals who handle business-related tasks with professionalism. The ability to maintain timelines has assisted the company in being a top-notch firm in the sector.
Dominant Hydraulic Cylinder Manufacturers:
| Company | Description |
|---|---|
| Caterpillar | Caterpillar's strategy reflects the company’s legacy and continuing commitment to meeting the needs of the customers and the communities in which they live and work. Caterpillar employees share a focused view of business through the Operating and Execution Model, through which Caterpillar is making strategic choices. The customers have been using Caterpillar’s products to build the basic infrastructure which enables higher standards of living. Together with its partners, Caterpillar helps its customers to build a better and more sustainable world. |
| Eaton | Eaton is dedicated to improving people’s lives and the environment with power management technologies that are reliable, safe, and sustainable. The energy-efficient products and services help customers manage electrical, hydraulic, and mechanical power more reliably. The broad product mix can be found in industries all over the world, protecting people and assets, while improving productivity and efficiency. The Eaton Business System is the embodiment of its integrated operating company philosophy, it is how Eaton works. |
| Bosch Rexroth | Bosch Rexroth has been giving its customers and users a competitive advantage through safe, efficient, intelligent, and high-performance solutions. The company drives the digital transformation of the factory of the future, exceeds the limits with connected hydraulics, and sets the stage for transforming mobile machines. The products and solutions offered by the company contribute to the more sustainable development of machines, manufacturing, and daily life. |
Other significant players profiled: Enerpac Tool Group and KYB Corporation.
The hydraulic cylinder market’s net worth is expected to be USD 15.3 billion in 2023.
The market is expected to expand at a CAGR of 4.6% through 2033.
In future, the market is expected to attain valuation of USD 24 billion by 2033.
Soaring construction activities and increasing establishment of automotive factories.
Automatic and semi-automatic systems for customer convenience.
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Hydraulic Cylinder Market
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