Hydraulic Cylinder Market will Reach $18.3 billion by 2027, growing at a CAGR of 4.4% - PowerPoint PPT Presentation

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Hydraulic Cylinder Market will Reach $18.3 billion by 2027, growing at a CAGR of 4.4%

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According to the new research report, the "Hydraulic Cylinder Market with COVID-19 Impact, by Function (Double-acting & Single-acting), Specification (Welded, Tie Rod, Telescopic, and Mill Type), Application, Bore Size (150 MM), Industry and Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Hydraulic Cylinder Market was valued at USD 14.3 billion in 2021 and is projected to reach USD 18.3 billion by 2027; it is expected to register a CAGR of 4.4% from 2022 to 2027. – PowerPoint PPT presentation

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Title: Hydraulic Cylinder Market will Reach $18.3 billion by 2027, growing at a CAGR of 4.4%


1
MarketsandMarkets Presents

Hydraulic Cylinder Market will Reach 18.3
billion by 2027, growing at a CAGR of
4.4 Hydraulic Cylinder Market with COVID-19
Impact, by Function (Double-acting
Single-acting), Specification (Welded, Tie Rod,
Telescopic, and Mill Type), Application, Bore
Size (lt50 MM, 50150 MM, gt150 MM), Industry and
Region - Global Forecast to 2027 https//www.mark
etsandmarkets.com/Market-Reports/hydraulic-cylinde
rs-market-252743122.html
2
According to the new research report,
the "Hydraulic Cylinder Market with COVID-19
Impact, by Function (Double-acting
Single-acting), Specification (Welded, Tie Rod,
Telescopic, and Mill Type), Application, Bore
Size (lt50 MM, 50150 MM, gt150 MM), Industry and
Region - Global Forecast to 2027", published by
MarketsandMarkets, the global Hydraulic Cylinder
Market was valued at USD 14.3 billion in 2021 and
is projected to reach USD 18.3 billion by 2027
it is expected to register a CAGR of 4.4 from
2022 to 2027. The markets growth can be
attributed majorly to the increasing demand for
heavy construction and mining vehicles from
construction, mining, and oil gas industries.
Increasing adoption of material handling
equipment across industries worldwide is a major
booster for the growth of the market. The
hydraulic cylinder market has been segmented by
function, specification, bore size, application,
industry, and geography. Government initiatives
to revive infrastructural projects across
countries have helped the demand for hydraulic
cylinders to grow, owing to their increased
adoption in construction and material handling
industries. Increasing farm mechanization across
regions, especially in APAC, and globally
increasing mining exploration activities have
also promoted the growth of the hydraulic
cylinder market. Browse 196 market data Tables
and 65 Figures spread through 245 Pages and
in-depth TOC on "Hydraulic Cylinder Market with
COVID-19 Impact - Global Forecast to 2027"
3
Double-Acting Hydraulic Cylinders to Account for
Larger Share of Hydraulic Cylinder Market During
Forecast Period The double-acting segment is
expected to hold a larger share of the hydraulic
cylinder market during the forecast period from
2022 to 2027. Owing to the retraction property of
these cylinders, they are used in aerospace,
automotive, agriculture, and several other
industries. These cylinders have a higher demand
in mobile applications such as lifting equipment,
earth moving equipment, forklifts, and heavy
trucks. Double-acting hydraulic cylinders are
suitable in presses and chippers for opening and
closing drawers and all types of raising and
lowering devices such as excavators and
cranes. Ask PDF Brochure https//www.marketsandm
arkets.com/pdfdownloadNew.asp?id252743122 Welded
Hydraulic Cylinders to Account for Largest Share
of Hydraulic Cylinder Market during Forecast
Period Welded hydraulic cylinders held the
largest share of the hydraulic cylinder market in
2021. The large market size of welded hydraulic
cylinders can be attributed to their dominance in
mobile hydraulic applications such as
construction equipment, material handling
equipment, mining equipment, and forklifts. These
are mainly preferred where space is a constraint
due to their short length and compact design,
enabling them to fit better into the tight
confines of machinery. They are more durable than
tie-rod cylinders and do not suffer from failures
due to tie rod stretch at high pressures and long
strokes.
4
Agriculture Industry to Register Highest CAGR in
Hydraulic Cylinder Market During Forecast
Period The market for the agriculture industry is
expected to grow at the highest CAGR during the
forecast period. The agriculture industry is
growing with the increasing use of machines for
performing complex tasks from planting
vegetables to plowing fields. From pecan tree
shakers to sugar cane harvesters and automated
bale trailers to sprayer booms, hydraulic
cylinders are deployed in almost all the
agriculture equipment for lifting and movement
control. The globally increasing population and
the deteriorating environmental conditions have
put pressure on the agriculture industry to meet
the food demand. This has increased investments
in machines for precision agriculture, which is
expected to drive the demand for hydraulic
cylinders. Request Free Sample
Pages https//www.marketsandmarkets.com/requestsa
mpleNew.asp?id252743122 Mobile Equipment to
Hold Larger Share of Hydraulic Cylinder Market
During Forecast Period The mobile equipment
segment held a larger share of the hydraulic
cylinder market in 2021. Mobile equipment, such
as excavators, loaders, and cranes, require
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.
5
Hydraulic Cylinders with Bore Size of 50150 MM
to Hold Largest Market Share During Forecast
Period Hydraulic cylinders with a bore size
ranging from 50 to 150 mm held the largest share
of the hydraulic cylinder market in 2021. These
hydraulic cylinders find applications in many
types of construction, earthmoving, material
handling, and agricultural equipment. Increasing
construction activities, rapidly developing
storage and material handling infrastructure, and
the modernization of agriculture equipment have
fueled the demand for hydraulic cylinders with a
bore size ranging from 50 to 150 mm. APAC to
Witness Highest CAGR in Hydraulic Cylinder Market
During Forecast Period The hydraulic cylinder
market in APAC held the largest share and is
expected to grow at the highest CAGR from 2022 to
2027. The growing demand for agricultural,
construction, and mining equipment in this region
is supporting the growth of the market. The
growing demand for food from the growing
population in this region and the increasing
industrialization in emerging countries are
fueling the growth of the agriculture and
construction industries in the region. Japan and A
ustralia are the major markets for hydraulic
cylinders in APAC. Japan is home to major
automotive manufacturers and suppliers who are
challenged by rising labor costs and higher lead
time associated with manual processes. To
overcome these challenges, companies are adopting
automated and semi-automated material handling
equipment. Australia is rich in minerals, and the
mining of these minerals is fueling the demand
for mining equipment.
6
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7
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