China Hydraulic Cylinder Market to witness substantial gains over 2016-2025, heavy investments toward infrastructural development to augment the regional growth
Hydraulic Cylinder Market will chart out a lucrative growth path, given that hydraulic cylinders form the backbone of various commercial and industrial applications. These cylinders are also used to manufacture agricultural equipment to enhance agricultural productivity, which will significantly enhance hydraulic cylinder industry growth. In addition, the high rate of investments by developing economies such as India and China are also expected to contribute to the overall business expansion. As per the report by Global Market Insights, Inc., “Hydraulic cylinder market generated a revenue of USD 10 billion in 2015 and will grow at an annual growth rate of more than 6% over the period of 2016 to 2025.”
U.S. Hydraulic Cylinder Market size, by application, 2013 -2025 (Million Units)
The prominent application areas of hydraulic cylinder industry are industrial and mobile. Industrial application segment accounted for more than 32% of the revenue share in 2015 and will exhibit a CAGR of above 4% over the coming eight years. Mobile hydraulic cylinder industry dominated the application landscape in 2015 and will generate significant revenue over the years ahead, owing to the increasing product requirement for material handling and agricultural equipment. Additionally, escalating urbanization and increasing construction activities will augment the industry.
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Based on the product, hydraulic cylinder market is mainly divided into welded and tie rod. Welded hydraulic cylinder industry will surpass a revenue collection of USD 11 billion by 2025. The extensive use of this product in the construction, mining, industrial, and material handling sectors will augment the market growth noticeably. The surging expansion of the agricultural equipment industry will propel the demand for tie rods, which will grow at an annual growth rate of more than 6% over the period of 2016 to 2025.
Double acting and single acting are the main functional trends of hydraulic cylinder industry. Double acting hydraulic cylinder will collect a revenue above USD 11 billion by 2025, primarily due to the usage of double acting hydraulic cylinders in applications where gravity is the prominent factor, affecting the acceleration and retardation. In addition, double acting function based hydraulic cylinders are extensively used for heavy trucks, forklifting, and earth moving equipment, which will considerably drive overall hydraulic cylinder market share. Single acting hydraulic cylinder market was worth USD 3.12 billion in 2015 and will record substantial growth rate over the coming timeframe.
Geographically, U.S. hydraulic cylinder industry is predicted to generate a revenue of more than USD 3 billion by 2025, owing to heavy investments in the material handling, defense, and aerospace sectors.
China hydraulic cylinder market will collect a revenue of more than USD 1 billion by 2025. The growth can be attributed to the increasing expenditure in infrastructure development. In the years ahead, the Chinese government is willing to invest around USD 151 million in Hubei Xiaogan logistics infrastructure project.
Brazil hydraulic cylinder industry will exhibit an annual growth rate of more than 4% over the period of 2016 to 2025, primarily driven by rising investments in the transportation sector. Russia hydraulic cylinder market will also register a CAGR of more than 3% over the coming eight years. The growth can be attributed to the surging requirement of construction and agricultural equipment.
The key participants in hydraulic cylinder market are Bosch Rexroth AG, Wipro Infrastructure Engineering, Aggressive Inc, Hannon LLC, Best Metal Products, Ligon Industries, LLC, Eaton Corporation PLC, Prince Manufacturing Corporation, Hydrapac Italia, YELETSGIDROAGREGAT, chapel hydraulique, United Hydraulics, Burnside Autocyl (Tullow) Ltd., Bailey International LLC, Enerpac Corp., Baltic, Hyco International, Inc., Caterpillar Inc., Precision group Inc., Norrhydro Oy, Parker-Hannifin Corporation, Weber-Hydraulik Group, Pacoma GmbH, Texas Inc, and Hydrosila.
Author Name :Sunil Hebbalkar