Hydraulic Cylinders Market Expected to Reach $21.2 Billion by 2030

PORTLAND, OR, UNITED STATES, June 7, 2023/EINPresswire.com/ -- 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.

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The growth of the global hydraulic cylinders market is driven by rise in the material handling equipment industry. Increase in new technologies, such as SGH wire-actuated encoders, which measure the cylinder stroke in the hydraulic cylinder, boost the demand for hydraulic cylinder globally.
Growth in the construction equipment market is anticipated to provide potential opportunities for the key players operating in the market. However, hydraulic cylinders are expensive, and its maintenance & operation costs are very high. This factor restricts of the global hydraulic cylinders market growth. Rise in labor cost in construction and mining activities is expected to offer growth opportunities for the hydraulic cylinder market in the near future.

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Key Players:

The key players operating in the hydraulic cylinders market include Actuant Corporation, Bosch Rexroth AG, Caterpillar Inc., Eaton Corporation Plc, Jarp Industries, Jiangsu Hengli Hydraulic Co., Ltd., Kawasaki Heavy Industries, Parker Hannifin Corporation, Texas Hydraulics, and Wipro Enterprises Limited., have adopted new product launch as their key strategy to expand their market foothold.

Key Findings Of Study
• The report provides an extensive analysis of the current and emerging global hydraulic cylinders market forecast and dynamics.
• By function, the double acting hydraulic cylinders segment dominated the market in terms of revenue in 2020.
• By design, the welded cylinders segment registered the highest growth in terms of revenue in the global market in 2020.
• By bore size, 51mm to 100mm segment is projected to register the highest growth rate in the coming years.
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David Correa
Allied Analytics LLP
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