Hydraulic Cylinder Market Size - By Function (Single Acting Cylinder, Double Acting Cylinder), By Product (Tie rod Cylinder, Welded Cylinder), By Application & Forecast, 2024 – 2032

Hydraulic Cylinder Market Size - By Function (Single Acting Cylinder, Double Acting Cylinder), By Product (Tie rod Cylinder, Welded Cylinder), By Application & Forecast, 2024 – 2032

Hydraulic Cylinder Market Size

Hydraulic Cylinder Market was valued at USD 15 billion in 2023 and is estimated to grow at a CAGR of 4.6% from 2024 to 2032. The increasing demand for material handling equipment, coupled with ongoing construction activities contributing to economic development will drive market growth. The rising application of hydraulic cylinders in luffing cranes, overhead traveling cranes, forklifts, and agricultural machines will further boost product demand in the projected timeframe.

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The rising demand for advanced agricultural machinery, along with the growing population, will stimulate the need for hydraulic cylinders. Additionally, expanding infrastructure development in developing economies will further drive the business landscape. For instance, India plans to spend USD 1.4 trillion on infrastructure through the 'National Infrastructure Pipeline' over the next five years, which is expected to positively impact market growth.
 

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Hydraulic Cylinder Market Trends

The global hydraulic cylinder industry is expected to continue its growth trajectory, driven by technological advancements, increasing automation, and expanding infrastructure projects. The demand for efficient, reliable, and environmentally friendly hydraulic systems will remain a key factor shaping the market's future. The industry's focus on innovation, sustainability, and meeting the evolving needs of various end-user sectors will play a crucial role in maintaining its upward momentum.

In addition, the rising adoption of automation across manufacturing, construction, and agriculture sectors is driving the demand for hydraulic cylinders. These cylinders provide precise and controlled linear motion essential for automated systems. As emerging economies continue to invest in industrial and infrastructural development, the market is poised for sustained growth.

Hydraulic Cylinder Market Analysis

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Based on function, the double acting cylinder market is anticipated to surpass over USD 15 billion by 2032. The product finds application in the food and beverage industry, where material handling equipment to create linear motion for conveyor belts and assembly lines is required, thereby driving the demand for single and double-acting hydraulic cylinders. Additionally, increasing usage of emission-free, energy-efficient, and low-maintenance equipment across manufacturing, chemical, and food and beverage industries further supports market growth.

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Based on application, the mobile hydraulic cylinder industry is set to grow at a CAGR of over 4.1% through 2032. The increasing integration of electrical components with hydraulic systems to create electro-hydraulic systems is gaining popularity due to their enhanced performance and control capabilities, which in turn is catering to the mobile industry growth.

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North America hydraulic cylinder market is forecasted to exceed USD 6.5 billion by 2032. The shift towards sustainable practices and stringent environmental regulations are encouraging the adoption of energy-efficient and emission-free hydraulic systems in the U.S. In addition, governments and private sectors are investing heavily in infrastructure projects, which is creating a high demand for hydraulic cylinders used in construction equipment, thereby adding to the market growth.

Hydraulic Cylinder Market Share

Industry leaders Caterpillar, Bosch, Parker Hannifin Group, Norrhydro Oy, Eaton Corporation command a significant market share owing to their extensive expertise motion technology expertise, diverse product portfolios, and extensive global presence. The hydraulic cylinder industry is highly competitive, with several key players focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position.

Hydraulic Cylinder Market Companies

Major key players operating across the hydraulic cylinder industry are

• Aggressive, Inc.
• Best Metal Products
• Bosch Rexroth (India) Private Limited.
• Caterpillar
• Eaton Corporation
• ENERPAC
• Hydrosila
• Montanhydraulik GmbH
• Norrhydro Oy
• Pacoma GmbH
• PARKER HANNIFIN CORP
• Prince Manufacturing Corporation
• Texas Inc
• Weber-Hydraulik Group
• Wipro Infrastructure Engineering

Hydraulic Cylinder Industry News

• In March 2024, Eaton Corporation was selected by Bell Textron Inc., a Textron company, to supply hydraulic power generation and conveyance components for its aircraft, along with oil swivels, hydraulic panels, and maintenance-free accumulators. This agreement will further strengthen the company’s market positioning in the U.S., thereby increasing the deployment of the product in military & aerospace applications.
• In January 2024, Norrhydro acquired a 48.96% stake in Motiomax Oy (“Motiomax”), a provider of electromechanical systems. This acquisition aims to enhance Norrhydro's market positioning and further strengthen its hydraulic cylinder product portfolio in the global market.

This hydraulic cylinder market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume in ‘Million units’ revenue in ‘USD Billion’ from 2019 to 2032, for the following segments

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Market, By Function

• Single acting cylinder
• Double-acting cylinder

Market, By Product

• Tie-rod cylinder
• Welded cylinder
• Others

Market, By Application

• Mobile
• Industrial

The above information has been provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
• Latin America
  • Brazil
  • Argentina