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Hydraulic Cylinders: Technologies and Global Markets

Hydraulic Cylinders: Technologies and Global Markets

  • March 2014
  • 140 pages
  • ID: 2070050
  • Format: PDF
  • BCC Research

Summary

Table of Contents

REPORT HIGHLIGHTS

BCC Research projects that the global market for hydraulic cylinders will grow from $9.5 billion in 2012 to $10.1 billion in 2013. This market is expected to grow at compound annual growth rate (CAGR) of 4.4% from 2013 to 2018, reaching of $12.5 billion by the end of the forecast period.

This report provides:


An overview of the global market for hydraulic cylinders.
Analyses of global market trends, with data from 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018.
A breakdown of hydraulic cylinders based on their characteristics, quality requirements, type, and applications.
Information regarding end user industries for hydraulic cylinders including automotive, oil and gas, aerospace and defense, mining, and many others.

INTRODUCTION

The global market for hydraulic cylinders has undergone many changes in the past decade due to the decline in application industries, such as construction, material handling, mining, container shipping, aerospace and defense, and others, of which hydraulic cylinders are integral part.To assess the market, hydraulic cylinders are broadly divided into two types by function: single acting hydraulic cylinders and double acting hydraulic cylinders. Single acting hydraulic cylinders apply hydraulic force in only one direction, usually to extend the cylinder. Double acting cylinders have two ports for the intake and outtake of hydraulic fluids. The pressure from the fluid can be used in both directions in order to expand and retract the piston. It can be mounted in any direction for lifting, pushing and pulling operations.Based on the design, hydraulic cylinders are classified into the categories of tie rod and welded.

In designing tie rod cylinders, a rod is tied to an outer part of the hydraulic cylinder to provide extra stability to the cylinder. Welded cylinders have the barrel welded to the end caps. These are heavy-duty cylinders that can be used in heavy-duty equipment such as drillers for oil rigs and huge cranes.Hydraulic cylinders are used across many different industries such as construction, material handling, mining, oil and gas, marine, aerospace and defense, agriculture and the heavy equipment industry. They are used to perform operations such as lifting, pushing and pulling with greater efficiency and reliability.

Globally, the demand for hydraulic cylinders is driven by the increasing demand for their application in the equipment used in industries such as construction, mining, manufacturing, agriculture, and aerospace and defense. Additionally, increasing demand from the OEMs due to increasing industrial production and growing global trade also contributes toward the growth in industry demand.The global market for hydraulic cylinders is growing steadily, primarily driven by the emerging economies because the North American and European markets have reached the saturation stage. However, the mature markets have provided an enormous opportunity for the developing markets, by outsourcing their manufacturing requirements to the developing markets.

Although Western markets remain the largest markets in terms of revenue, the Asia-Pacific region is expected to grow enormously at a five-year CAGR of 5.6%, over 2013 to 2018.Position sensing cylinders combine the rugged power of hydraulic cylinders with the precision of position sensing electronics in a single actuator for precision operation. In addition, the market is trending toward consolidation, with the major players focusing on the quality of products to comply with international standards.Construction, aerospace & defense, and material handling equipments account for more than 60% of the global market for hydraulic cylinders. In the long term, agriculture equipment is expected to drive the market for hydraulic cylinders with increasing demand for agricultural products to feed the growing population.

Wipro Infrastructure, Weber-Hydraulik, Hyva, Eaton, Parker Hannifin and Bosch Rexroth are the major global manufacturers of hydraulic cylinders. Wipro Infrastructure is the largest player with a 7% to 8% share of the market. Weber-Hydraulik is the second-largest player with a market share of about 6% to 7%.This report also highlights India and China’s market landscape with a special focus on these countries, as they are the major hubs for outsourcing the manufacture of hydraulic cylinders and are potentially lucrative markets for the cylinders.

STUDY GOALS AND OBJECTIVES

The goal of this report is to provide an up-to-date analysis of recent developments and current trends in the global hydraulic cylinder marketplace. Identifying significant drivers of revenue growth in specific cylinder categories is an additional aim. The objective of this kind of systematic research is to quantify the projected impact of both internal and external forces that are affecting the global hydraulic cylinder industry today and that will affect the industry for the next several years.

REASONS FOR DOING THE STUDY

The rapidly growing emerging economies, which are mainly China and India in terms of both economy and infrastructure, have significantly increased the demand for hydraulic cylinders over the past five years. The Asia-Pacific region has also become the hub for Western markets to outsource the manufacture of their hydraulic cylinders. In addition, with the recovery of the global economy, construction activities have geared up globally, including in the Western markets, which has increased the demand for construction and material handling equipment, resulting in increased demand for hydraulic cylinders. Increasing raw material prices and increasing low-cost imports of hydraulic cylinders from developing countries have made Western hydraulic cylinder manufacturers expand their market presence in the developing nations. This poses a threat to the small domestic players in the emerging markets, which are struggling to ensure that their products meet global standards.

SCOPE OF REPORT

The scope of this report is broad and covers several types of hydraulic cylinders used globally in various types of equipment. The market is broken down by major types of equipment, including their function, specification and design. The market for hydraulic cylinders is also estimated by end-user industry, regional market and major player. Revenue forecasts from 2013 to 2018 are given for each major type of hydraulic cylinder, end-user industry and regional markets.The report also includes a discussion of the major players across each of the regional markets for hydraulic cylinders; it explains the major market drivers of the global hydraulic cylinder industry, current trends within the industry and major end-user industries, and the regional dynamics of the global hydraulic cylinder market.The report concludes with a special focus on India and China, two major outsourcing markets for hydraulic cylinders manufacturing. It covers the market size and forecast along with major trends in these two markets, the drivers for outsourcing to these countries, and discusses the major players in these markets and end-user industries.

INTENDED AUDIENCE

This report is intended especially for manufacturers, suppliers, end users and others with a vital interest in specific hydraulic cylinders and end-user market segments. The report should also be of interest to industries such as material handling, construction, infrastructure, oil and gas, automotive, and heavy metal and mining. In addition, because of this report’s business focus, it will be useful to sales executives and business managers as an up-to-date guide that includes challenges, drivers and trends that are expected to be significant factors in the current and future market.

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