Hydraulic Cylinders Market Expected to Flourish with a US$ 22.45 billion Value by 2033: Persistence Market Research

New York, July 31, 2023 (GLOBE NEWSWIRE) -- The global hydraulic cylinder market is valued at US$ 14.43 billion in 2023 and is projected to expand at 4.5% CAGR from 2023 to 2033, according to the latest industry analysis by Persistence Market Research. The global hydraulic cylinder market is projected to reach a size of US$ 22.45 billion by the end of 2033.

A hydraulic cylinder is a linear actuator that helps in generating an automatic force in a straight line either by pulling or pushing. Hydraulic cylinders can be likened to muscles within a machine's hydraulic system as they are responsible for generating movement.

Hydraulic cylinders find extensive use in various industries such as the food industry, construction projects, metal fabrication, and waste management. They operate by enabling the movement of the piston rod back and forth. The market offers a diverse array of hydraulic cylinder products, including tie-rod cylinders, threaded cylinders, welded hydraulic cylinders, bolted/mill-type cylinders, and telescopic cylinders, among others.

Welded cylinders and tie rod cylinders are commonly employed in different applications, selected based on specific requirements, task compatibility, and desired performance characteristics.

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Increasing use of hydraulic cylinders in various applications such as the automotive, construction, and industrial sectors has created the need for more efficient and effective hydraulic cylinders. This drives the development of new and improved hydraulic cylinders, which further stimulates the growth of the hydraulic cylinder market.

The construction and mining industry, especially in developing countries, has been experiencing significant growth, leading to rising demand for essential equipment. Hydraulic cylinders play a crucial role in ensuring consistent torque and reliable performance for important equipment used in mining and construction applications.

Growing emphasis on safety and quality control in the construction industry has boosted the demand for high-quality hydraulic cylinders that comply with stringent safety regulations. This has encouraged manufacturers to invest in the development of new and improved hydraulic cylinders that meet the evolving needs of the industry. Focus on technologically advanced products is a major driver for the market.

Key Takeaways from Market Study

“To succeed in the hydraulic cylinder market, manufacturers are focusing on developing sustainable products, establishing strong supply chain connections, investing in technological advancements & quality improvement, and staying abreast of market trends,” says a Persistence Market Research analyst.

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Market Competition

The market for hydraulic cylinders presents significant opportunities for manufacturers. Companies are investing in the development of innovative and sustainable products to penetrate new markets. Key players are focusing on the development of smart, durable, and robust hydraulic cylinders, which are typically cost-effective, also making them an attractive option for key end users.

Key Players : Important Key Players are Bosch Rexroth AG, Actuant Corporation, Danfoss, Parker Hannifin Corp, Caterpillar Inc., Jiangsu Hengli Hydraulic Co., Ltd., HYDAC, Wipro Enterprises Limited, SMC Corporation, Weber-Hydraulik GmbH, Pacoma GmbH, Texas Hydraulics, Inc, JARP Industries, Inc, Liebherr Group, Best Metal Products Company, Inc., Pennar Industries Ltd, Bucher, Orsta Hydraulik GmbH, KYB Corporation and more

Recent Developments:

here are some recent developments of companies in the hydraulic cylinders market:

More Valuable Insights Available

Persistence Market Research, a market research and consulting firm, has published a new market research report on the global hydraulic cylinder market that contains industry analyses for 2018 to 2022 and an opportunity assessment for 2023 to 2033.

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The report provides an in-depth analysis of the market through different segments, namely bore type, product type, operating principle, application, and region. The report also provides supply and demand trends along with an overview of the parent market.

For additional insights on how the global hydraulic cylinder market will shape up over the decade, write to [email protected]

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