Hydraulic Cylinder Market Size and Share Analysis by Function (Single Acting, Double Acting), Specification (Welded, Tie Rod, Telescopic, Mill Type), Application (Industrial, Mobile), Industry (Construction, Aerospace, Material Handling, Agriculture, Mining, Automotive, Marine, Oil and gas) - Global Industry Revenue Estimation and Demand Forecast to 2030

Hydraulic Cylinder Market Size and Share

The hydraulic cylinder market revenue Stood at USD 14,558.9 million in 2023, which is expected to witness a CAGR of 4.7% during 2024-2030, reaching USD 19,879.8 million by 2030. This is credited to the rise in the demand for these products in the construction, manufacturing, automotive, agriculture, mining, and oil & gas industries, along with technological advancements.

Due to the increasing growth of the construction and material handling industries as a consequence of the government efforts for reviving infrastructure projects in different countries, hydraulic cylinder demand is growing.

Booming Construction Industry Is Driving Market

One of the biggest drivers for the market is the growing construction industry.

• In the construction industry, excavators, trenches, road construction planers, grinders, backhoes, concrete or asphalt machines, concrete cutting saws, motor graders, dumpers, dozers, and skid steers utilize hydraulic cylinders for various functions, such as pushing, pulling, lifting, and digging.
• Here, these cylinders produce linear motion and force.
• They can work continuously over long periods and are made to possess resistance against abrasion, corrosion, severe temperatures, and weather fluctuations.
• They offer precise control, high power, and efficient operation in construction machinery, which helps accomplish projects more rapidly and effectively.

Equipment with hydraulic cylinders is required for infrastructure projects such as roads, bridges, dams, railways, and buildings. As infrastructure advancement proceeds around the world at pace, the interest in these components will stay high. In this regard, China and India would be the two largest markets for these products because of the massive scale at which infrastructure is being developed here.

• The technological advancements in hydraulics are aimed at meeting particular requirements of the construction business.
• These progressions have upgraded the design, durability, and capacities of hydraulic cylinders, making them more appropriate for current construction machinery.

The demand for hydraulic cylinders in the construction industry is increasing as a result of the rise in residential and commercial construction caused by the rapid global urbanization. In this regard, developing countries, including China, India, Indonesia, and Nigeria, are the most significant. Construction equipment requires regular maintenance, including the substitution of broken parts, such as hydraulic cylinders, thereby propelling demand for them.

Double-Acting Category Dominates Market

The double-acting category had the dominant share, of 70%, in 2023. These cylinders have a broad application in large steam engines, ship motors, earthmoving machinery power plants, industrial furnaces, and other construction equipment.

• Double-acting cylinders can generate force in both the extending and retracting strokes.
• This bidirectional functionality is highly beneficial in applications where force needs to be applied or controlled in two directions.
• Numerous industries depend on these parts for their hardware and equipment because of their capacity to support different functional requirements.

They are known for their optimal utilization of the hydraulic fluid to create force, thus guaranteeing ideal energy usage. These components offer adaptability in various applications across industries such as construction, manufacturing, and agriculture. The progressions in their design and technology have, additionally, improved their performance and capacities, thus making them more efficient and durable.

Single-Acting Category Is Expected To Grow Rapidly

The single-acting would have a CAGR of 5% from 2024 to 2030.

• These cylinders have a wide application in factory automation, package and material handling machines, hydraulic jacks, and clamping, drilling, and punching machines.
• These cylinders have a more-compact design, making them viable for use in constrained spaces or in applications where a limited retraction stroke is required.

Further, when compared to their double-acting counterparts, single-acting cylinders offer better value for money. In applications where force is just expected in one direction, these cylinders can be a more-economical solution. For example, in dump trucks, these cylinders are normally used to lift and lower the load.

Hydraulic Cylinder Market Report Coverage

Report Attribute	Details
Market Size in 2023	USD 14,558.9 Million
Market Size in 2024	USD 15,053.6 Million
Revenue Forecast in 2030	USD 19,879.8 Million
Growth Rate	4.7% CAGR
Historical Years	2017-2023
Forecast Years	2024-2030
Report Scope	Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
Segments Covered	By Function; By Specification; By Application; By Industry; By Region

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Welded Category Dominates Market

Based on specification, the welded category held the largest share, of 45%, in 2023.

• Welded alternatives have a broad application in several industries, such as oil & gas, mining, construction, material handling, waste handling, and heavy equipment.
• Welded cylinders are preferred for their durability and robustness.
• The welding process guarantees strength between the barrel and the end covers, giving reliability and protection amidst heavy loads and harsh operating circumstances.
• These cylinders can be customized more easily to meet specific requirements in different applications, via changes in stroke length, size, and configuration.
• They are also more cost-effective to manufacture than other variants, making them favored amongst enterprises looking for a balance between cost and performance.
• Manufacturers can deliver welded cylinders in many sizes and designs, thus fulfilling the needs of various modern applications.

Telescopic Category Is Significantly Expanding

The telescopic category is projected to expand at a significant CAGR, of 6%, from 2024 to 2030. These products can be converted to double-acting or single-acting cylinders for a wide range of agricultural, construction, waste handling, and material handling applications.

They are intended to offer an extended stroke length, making them reasonable for applications where a long reach or stroke is expected, without losing space in the retracted position. Further, their nested design allows them to retract to a shorter length, contrasted with their extended length, thus giving a space-saving arrangement, which is ideal for different kinds of equipment. These cylinders also offer exact control and dependable performance, making them appropriate for applications requiring precise movement or positioning.

Mobile Equipment Holds Larger Market Share

Based on application, the mobile category held the larger market share, of 75%, in 2023.

• Mobile equipment, including loaders, cranes, and earthmovers, require hydraulic cylinders.
• Other kinds of mobile machinery that utilize hydraulic cylinders include mining, material handling, earthmoving, and defense equipment.
• The expansion in the level of industrialization and infrastructure development will, additionally, build the interest in hydraulic cylinders for mobile applications.
• The demand for these components in mobile machinery stems from the requirement for dependable, solid, and superior parts that can endure substantial mechanical stress in harsh environments.
• The adaptability and robustness of hydraulic systems make them appropriate for these applications.

Agriculture Industry Is Growing Rapidly

The agriculture industry is expected to witness the highest CAGR in the hydraulic cylinder market over the forecast period. The utilization of these machines for planting vegetables and plowing fields continues to grow as farmers make efforts to augment yields from the diminishing farmlands.

• Hydraulic cylinders are used in almost all kinds of agricultural equipment, from pecan tree shakers and sugarcane reapers to robotized bale trailers and sprayer blasts, for lifting and movement control.
• The agriculture industry is experiencing pressure to satisfy the demand for food due to the increasing population globally and the worsening of environmental conditions, which have disrupted normal crop patterns.
• This has expanded investment in machines for precision agriculture, thereby driving the demand for hydraulic cylinders.

APAC Is Expected To Grow at Highest CAGR

Geographically, APAC will be the fastest-advancing market, with a CAGR of 7%, during the forecast period. The growing need for construction, agriculture, and mining equipment is the primary driver for the expansion of the market. The region’s construction and agriculture industries are seeing high-paced growth due to the rising need for infrastructure and food, respectively, in developing nations.

• Among the biggest markets in this region for hydraulic cylinders are Japan and Australia.
• Large Japanese automakers and suppliers are experiencing the challenge of high labor expenses and longer delivery times, associated with manual procedures.
• Hence, these organizations are utilizing automated and semi-automated systems for material management.
• Australia is rich in minerals, which is why its mining industry creates a high-volume demand for mining equipment.

North America is also expected to grow at a robust in the coming years, owing to the increasing investments across industries. Moreover, the government efforts to reinforce the aerospace and defense industry will improve the penetration of these products in the region. Likewise, the surging investments in the food and beverage sector owing to the increasing buyer spending on packaged food, will increase the U.S. industry’s size. Further, the increasing number of defense & military, aerospace, petrochemical, and construction companies has contributed to the deployment of material handling equipment in large numbers.

Competitive Analysis

Continual product development and geographical expansion are the key strategies of the market players to remain competitive. Moreover, the burgeoning utilization of these products across energy-intensive industries will open doors for industry players.

Recent Developments

• In February 2023, Texas Instruments Inc. chose to construct a second 300-millimeter semiconductor wafer fabrication plant in Lehi, Utah, as a component of the chip producer's USD 11 billion investment in the state under investments designated by the U.S. government.
• In December 2022, Caterpillar collaborated with Luck Stone to deploy its Cat MineStar Command for Hauling system on 777G trucks at the Bull Run quarry.
• In January 2021, Weber-Hydraulic launched a line of hydraulic cylinders for use as a support mechanism for mobile cranes.
• In June 2021, an updated compact guide cylinder was introduced by SMC Corporation. The product features a 28% decrease in volume and a 41% decrease in weight compared to older models.
• In June 2021, Jiangsu Hengli completed its 500T Heave Compensator Project, which consisted of one main hydraulic cylinder, two nitrogen pressure vessels, and three accumulators.

Top Providers of Hydraulic Cylinders Are:

• KYB Corporation
• Bosch Rexroth AG
• Eaton Corporation plc
• SMC Corporation
• Wipro Enterprises
• Parker-Hannifin Corporation
• Enerpac Tool Group
• Hengli Hydraulics
• Caterpillar
• Weber Hydraulik GmbHMarket Size Breakdown by Segment
• Burnside Autocyl
• Pacoma GmbH
• Texas Hydraulics Inc
• Standex International Corporation
• Bucher Hydraulics

Market Size Breakdown by Segment

This report offers deep insights into the hydraulic cylinder market, with size estimation for 2017 to 2030, the major drivers, restraints, trends and opportunities, and competitor analysis.

Based on Function

• Single Acting
• Double Acting

Based on Specification

• Welded
• Tie Rod
• Telescopic
• Mill Type

Based on Application

• Industrial
• Mobile

Based on Industry

• Construction
• Aerospace
• Material Handling
• Agriculture
• Mining
• Automotive
• Marine
• Oil and gas

Region/Countries Reviewed for this Report

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E.

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Hydraulic Cylinder Manufacturing Companies