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Hydraulic Cylinder Market with COVID-19 impact Analysis by Function, Specification, Application, Bore Size, Industry And Region - Global Forecast to 2025

Hydraulic Cylinder Market with COVID-19 impact Analysis by Function, Specification, Application, Bore Size, Industry And Region - Global Forecast to 2025

  • July 2020
  • 231 pages
  • ID: 5208348
  • Format: PDF
  • MarketsandMarkets

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Hydraulic cylinder market to exhibit significant growth during 2020–2025
The global hydraulic cylinder market size was valued at USD 13.4 billion in 2020 and is projected to reach USD 15.8 billion by 2025; it is expected to grow at a CAGR of 3.3% from 2020 to 2025. The growth of this market is attributed to rising demand in the construction industry, increasing demand in mining process equipment, and growing demand for material handling equipment. However, factors such as disruption in supply chian owing to lockdown in leading economies due to COVID-19 pandemic, increasing oil leakages from hydraulic cylinders and the high cost of manufacturing and maintenance are restraining the market growth.
COVID-19 has emerged as a global pandemic that has spread across 215 countries worldwide and disrupted various industries around the world.The prominent players across industries have been affected by this pandemic.

The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the hydraulic cylinder market.

Double-acting hydraulic cylinder market to witness high-growth potential during the forecast period
Double-acting hydraulic cylinders are used in agriculture, automotive, and several other industries owing to their retraction property. Double-acting hydraulic cylinders have a higher demand in mobile applications such as lifting equipment, earth moving equipment, forklifts, and heavy trucks.

Telescopic cylinder market to grow at highest CAGR during the forecast period
Telescopic cylinders are also called multistage cylinders.They comprise of several cylinders nested inside each other, termed as stages.

To maintain stability, there are six stages.The largest sleeve is called the main or barrel within which the smaller ones fit.

The retraction length of these cylinders is 20–40% of the fully extended length. The high growth of telescopic hydraulic cylinders is attributed to their extensive use in applications such as dump trucks, excavators, roll-off trucks, and cranes.
Mobile application market to grow at highest CAGR during the forecast period “
The mobile equipment application of hydraulic cylinders held a larger share of the hydraulic cylinder market.Mobile equipment, such as excavators, loaders, and cranes, requires hydraulic cylinders to operate.

The applications of hydraulic cylinders in the mobile equipment industry include earthmoving, material handling, mining, and defense. An increase in industrialization and construction activities will further increase the demand for hydraulic cylinders in mobile applications.

APAC to be the largest market for hydraulic cylinders during the forecast period
APAC is expected to lead the hydraulic cylinder market in terms of size, from 2020 to 2025.Growing demand for agricultural, construction, and mining equipment in APAC is supporting the growth of the hydraulic cylinder industry.

The need to meet the requirements of a growing population in APAC, along with increasing industrialization in emerging countries, is fueling the growth of agriculture and construction industries, which, in turn, are increasing the demand for hydraulic cylinders for use in agriculture and construction equipment.
The outbreak of the COVID-19 pandemic in the region has led to a significant slowdown in the manufacturing industry.The pandemic has severely affected the manufacturing and supply chain of hydraulic cylinders.

The implementation of lockdown in several countries in the region has led to supply chain disruptions eventually affecting the global economy.

Break-up of the profiles of primary participants:
• By Company Type – Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
• By Designation – C-level – 48%, Director-level – 33%, and Others – 19%
• By Region – North America - 35%, Europe – 18%, APAC – 40%, and RoW – 7%

Key players in the market include Enerpac Tool Group (US), Bosch Rexroth (Germany), Caterpillar (US), Eaton (Ireland), KYB Corporation (Japan), Parker-Hannifin Corporation (US), SMC Corporation (Japan), Jiangsu Hengli Hydraulic (China), Wipro Enterprises (India), HYDAC (Germany), Burnside Autocyl (Ireland), JARP Industries (US), Kappa Engineering (South Africa), Ligon Hydraulic Cylinder Group (US), Marrel (France), Pacoma (Germany), Prince Manufacturing (US), Standex International (US), Texas Hydraulics (US), Weber-Hydraulik (Germany), Holmatro (Netherlands), Aggressive Hydraulics, Inc. (US), Lehigh Fluid Power, Inc. (US), Bailey International, LLC (US), YUASA Co., Ltd. (Japan).

The global hydraulic cylinder market is segmented into the function, specification, application, bore size, industry, and geography.The market based on function is segmented into single-acting hydraulic cylinders and double-acting hydraulic cylinders.

Based on the specification, the hydraulic cylinder market has been split into tie-rod cylinders, welded cylinders, telescopic cylinders, and mill-type cylinders. Based on the application, the market is segmented into mobile and industrial. Based on bore size, the market has been split into <50 MM, 50–150 MM, and >150 MM. Industries that are included in the study of the market include construction, aerospace & defense, material handling, agriculture, automotive, mining, oil & gas, marine, and others. The hydraulic cylinder industry is segmented into four regions—North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).

Reasons to buy the report:
• Illustrative segmentation, analysis, and forecast for markets based on function, specification, application, bore size, industry, and region have been conducted to give an overall view of the hydraulic cylinder market.
• The value chain analysis has been performed to provide an in-depth insight into the hydraulic cylinder industry.
• Major drivers, restraints, opportunities, and challenges pertaining to the hydraulic cylinder market have been detailed in this report.
• Detailed information regarding the COVID-19 impact on the hydraulic cylinder market has been provided in the report.
• The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.

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