The Global Hydraulic Cylinder Market size is expected to reach $18. 3 billion by 2027, rising at a market growth of 4. 4% CAGR during the forecast period. A hydraulic cylinder is a mechanical device that is used to apply a unidirectional force via a single-direction stroke.
New York, May 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Hydraulic Cylinder Market Size, Share & Industry Trends Analysis Report By Function, By Specification, By Bore Size, By Application, By Industry, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06273354/?utm_source=GNW It’s a device that converts mechanical force into linear motion. The tube of a hydraulic cylinder has a rod protruding out on one side. To avoid friction, the piston separates the internal rod side from the internal cap side of the cylinder. For smooth operation, fluid is pumped into either side of the cylinder to expand or retract the piston rod. A hydraulic cylinder is a component of the hydraulic system of a machine. Put simply, a hydraulic cylinder is a hydraulic actuator that converts hydraulic energy into a mechanical movement to provide linear movement. The hydraulic cylinder is similar to a muscle in that it causes movement using the machine’s hydraulic system - so it is similar to a muscle. The medium of the hydraulic transmission is oil. The basic principle of hydraulics is that when a power machine rotates the pump, a volume flow is created. The hydraulic system’s pressure is determined by the load created by the cylinder or valve, which then resists the flow of the liquid created by the hydraulic pump. Pascal’s law states that pressure spreads evenly in all directions in the system and has an equal effect on all hydraulic system closed spaces’ surfaces and this effect is put at work in this mechanism. A simple ram-type cylinder is made up of a cylindrical tube, and a steel rod that is inserted and sealed inside the tube. A pressurized fluid is pumped into the cylinder, where the circular bottom of the tube is subjected to pressures of up to 3000 psi or more. As long as the mass on the rod is less than the force generated against the rod by the fluid, the pressured fluid will push the rod out of the cylinder. It should be highlighted that motion is created by force, not flow; the generation of movement by flow is a common fallacy that will be addressed another day. COVID-19 Pandemic The outbreak of the COVID-19 pandemic has negatively impacted various business sectors across the world. Various impositions like lockdown, social distancing and ban on imports & exports have impacted the production and distribution of various goods and services, which were considered as non-essential by the governments. Many enterprises in the hydraulic cylinders industry were obliged to temporarily suspend operations due to the COVID-19 pandemic, in order to comply with new government rules aimed at preventing the disease’s spread. This pause in activities has a direct influence on the market’s revenue flow. Market driving factors Substantial Demand from The Construction Industry Construction projects are progressively growing in size and complexity. Despite the fact that the COVID-19 pandemic had an impact on the construction industry, there has been a strong recovery in the industry following the pandemic, mainly owing to growing infrastructure spending in APAC and recovering European infrastructure investments. Infrastructure investments are accelerating in emerging economies such as China, India, Indonesia, and other countries due to rising urbanization. Numerous new infrastructure development plans and projects are in the works, mostly in developing countries like India and China, which would eventually drive construction equipment demands. Rising Demand For Lifting Machinery From The Shipping Industry Hundreds of feet of cargo containers of various sizes and weights are routinely piled in dockyards. Containers with typical sizes of 20, 40, 45, 48, and 53 feet and weights of 30 to 42 tons can be found all over the world. Lifting machinery is used to transport these large containers. Shipping is the most essential means of international commerce facilitation on the planet. Ships deliver the bulk of goods, including electronics, autos, textiles, raw metals, and oil and gas. The rise of the shipping sector is fueled by favorable institutional and technological factors such as the adoption of industrial IoT and government backing, which supports the demand for lifting equipment at ports. Market restraining factors High Costs Of Manufacturing And Maintenance Of Hydraulic Cylinders In the production of a high-quality hydraulic cylinder, metal forging and accurate engineering are required. Hydraulic cylinders are made up of various parts that must be assembled, including pistons, cylinder barrels, piston rods, cylinder bases, cylinder heads, and cylinder seals. Small and medium-sized businesses (SMEs) face cost constraints when it comes to entering the hydraulic cylinder industry. Hydraulic cylinders have ongoing maintenance expenditures in addition to the initial product price. Function Outlook Based on Function, the market is segmented into Double-acting, and Single-acting. The double-acting segment acquired the largest revenue share in the hydraulic cylinder market in 2020. These cylinders are employed in aircraft, automotive, agriculture, and a variety of other industries because of their retraction properties. Mobile applications like lifting equipment, earth moving equipment, forklifts, and heavy trucks have a larger demand for these cylinders. Double-acting hydraulic cylinders are used to open and close drawers in presses and chippers, as well as all forms of lifting and lowering machines like excavators and cranes. Specification Outlook Based on Specification, the market is segmented into Welded, Tie Rod, Telescopic, and Mill Type. The tie rod segment observed a substantial share in the hydraulic cylinder market in 2020. Increasing the use of agricultural equipment for farming in order to increase production capacity in order to keep up with the rising population rate will boost industrial dynamics. According to the International Trade Administration, the Russian agricultural sector, with 220 million hectares of land, has the potential to strengthen the economy. Bore Size Outlook Based on Bore Size, the market is segmented into 50–150 MM, <50 MM, and >150 MM. The greater than 151 mm segment procured a significant revenue share in the hydraulic cylinder market in 2020. This is due to an increase in the popularity of exclusive quality and warranty schemes in manufacturing plants for the greater than 150 mm segment. Application Outlook Based on Application, the market is segmented into Mobile, and Industrial. The mobile segment acquired the largest revenue share in the hydraulic cylinder market in 2020. Hydraulic cylinders are required for the operation of mobile equipment such as excavators, loaders, and cranes. Hydraulic cylinders are used in earthmoving, material handling, mining, and the military in the mobile equipment business. The demand for hydraulic cylinders in mobile applications will grow as industrialization and building activities expand. Industry Outlook Based on Industry, the market is segmented into Construction, Aerospace, Material Handling, Mining, Agriculture, Automotive, Marine, Oil & Gas, AND Others. The agriculture segment observed a promising revenue share in the hydraulic cylinder market in 2020. The agriculture industry is expanding as more machines are used to do difficult jobs, such as planting vegetables and plowing fields. Hydraulic cylinders are used in practically all agricultural equipment for lifting and movement control, from pecan tree shakers to sugar cane harvesters, automated bale trucks to sprayer booms. The agriculture business is under pressure to supply global food demand due to rising population and decreasing environmental conditions. This has resulted in a rise in investments in precision agriculture machines, which is projected to stimulate demand for hydraulic cylinders. Regional Outlook Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific region acquired the largest revenue share in the hydraulic cylinders market in 2020. The market is developing due to the rising demand for agricultural, construction, and mining equipment in this region. Agriculture and construction sectors in the region are growing in response to rising food demand from the region’s growing population and increasing industrialization in emerging countries. In APAC, hydraulic cylinders are mostly sold in Japan and Australia. Major car manufacturers and suppliers in Japan are facing growing labor costs and longer lead times as a result of manual operations. Companies are implementing automated and semi-automated material management systems to tackle these issues. Minerals are plentiful in Australia, and their extraction is boosting the demand for mining equipment that comes equipped with hydraulic cylinders. KBV Cardinal Matrix - Hydraulic Cylinder Market Competition Analysis Source: KBV Research The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Caterpillar, Inc. is the major forerunner in the Hydraulic Cylinder Market. Companies such as Parker Hannifin Corporation, SMC Corporation, Enerpac Tool Group Corp. are some of the key innovators in the Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wipro Limited, Caterpillar, Inc., Parker Hannifin Corporation, Standex International Corporation, Kawasaki Heavy Industries, Ltd., SMC Corporation, KYB Corporation, Enerpac Tool Group Corp., Ligon Industries, LLC, and HYDAC International GmbH. Strategies deployed in Hydraulic Cylinder Market Jun-2021: SMC unveiled the MGPK Series, an updated Compact Guide Cylinder product line. The series is developed to be dense and features a 28% deduction in volume and a 41% decrease in weight as compared to previous models. Apr-2021: Enerpac launched the next generation of the popular RC-Series hydraulic cylinders. The RC-Trio bearing system improves endurance as well as a hybrid spring-return system for quick withdrawal with better productivity. Feb-2021: Enerpac expanded its geographical footprint by establishing a new office in Kraków, Poland. This new office expansion would work as an enterprise commercial hub for all its firm in Eastern and Central Europe. Sep-2019: Wipro Infrastructure Engineering signed a Memorandum of Understanding with Defence PSU BEML, the biggest Defence, Mining & Construction and Rail Coach manufacturer. Through this MoU, the entities would work in 3D Printing, Hydraulic System Engineering, Industrial Automation, Artificial Intelligence, and Aerospace. Nov-2018: Enerpac introduced the RLT-Series range of low-height telescopic hydraulic cylinders. The RLT range offers lengthy cylinder strokes that are restricted are often found during tool fastening and machinery positioning to provide the secure path of lifting massive loads. Mar-2018: Parker Hannifin Corporation expanded its enhanced version of single-acting telescopic hydraulic cylinders for the dump truck industries. The improved SAT cylinder would emphasize an increase of 25 percent in operating pressure to 2,500 psi for enhanced performance and strength as well as to reduce prolonged price and increase productivity. Nov-2017: Enerpac introduced a new CULP-Series, Ultra-Flat hydraulic cylinder series. The series is developed for industries where massive lifting forces are required in restricted spaces. Additionally, CULP-Series begins with an ability of 10 to 50 tons whereas CUSP-Series can lift up to 10 to 1000 tons. Feb-2017: Parker Hannifin took over Helac Corporation, a Machine industry company. This partnership aimed to enhance Parker’s situation is crucial growth markets and expand the reach of Helac products within Parker’s sales channels globally. Jan-2017: Hydradyne completed the acquisition of Hydraulic House, Custom Hydraulic Hoses, and Cylinder Repair. Through this partnership, Hydraulic House would provide repair and service of various company’s hydraulic equipment with Parker hydraulic parts and a complete range of Parker fluid connector products. Scope of the Study Market Segments covered in the Report: By Function • Double-acting • Single-acting By Specification • Welded • Tie Rod • Telescopic • Mill Type By Bore Size • 50–150 MM • <50 MM • >150 MM By Application • Mobile • Industrial By Industry • Construction • Aerospace • Material Handling • Mining • Agriculture • Automotive • Marine • Oil & Gas • Others By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • Wipro Limited • Caterpillar, Inc. • Parker Hannifin Corporation • Standex International Corporation • Kawasaki Heavy Industries, Ltd. • SMC Corporation • KYB Corporation • Enerpac Tool Group Corp. • Ligon Industries, LLC • HYDAC International GmbH Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06273354/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. 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