Hydraulic Cylinder Global Market Report 2024

The hydraulic cylinder market size has grown strongly in recent years. It will grow from $18.4 billion in 2023 to $19.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The increase observed in the historical period can be ascribed to industrial growth, automation trends, infrastructure development, mining and exploration activities, manufacturing sector dynamics, and investments in the energy sector.

The hydraulic cylinder market size is expected to see strong growth in the next few years. It will grow to $24.2 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The expansion anticipated in the forecast period can be linked to increasing automation, the expansion of renewable energy, urbanization, and a construction boom, along with a focus on sustainability and the resilience of the mining industry. Major trends projected for the forecast period encompass the adoption of advanced materials, smart hydraulic systems, environmental sustainability, customization for diverse industries, energy-efficient solutions, and the integration of robotics and automation.

The hydraulic cylinder market is expected to experience growth driven by the significant increase in demand from the construction industry. The construction industry, rebounding from a decline in the previous year, is projected to rise in double digits in FY22, according to the Ministry of Statistics and Programme Implementation. The increased demand for hydraulic technologies in complex construction projects is likely to propel the hydraulic cylinder market.

The hydraulic cylinder market is poised for growth due to the expansion of the renewable energy sector. Hydraulic cylinders play a crucial role in various renewable energy technologies, contributing to their efficient operation. The Energy Information Administration reported that renewable energy accounted for almost 13% of total energy production and consumption in 2022, highlighting the growth of the renewable energy sector and, subsequently, the hydraulic cylinder market.

In the hydraulic cylinder market, premier companies are actively pursuing product innovation to strengthen their market position. Oerlikon HRS flow, an India-based company specializing in hot runner systems for plastic injection molding, introduced a further development of the HRS cool hydraulic cylinder system in October 2021. This innovation features sophisticated temperature management, eliminating the need for active liquid cooling of the actuation unit.

Premier companies in the hydraulic cylinder market are focusing on facility expansions to better meet the needs of existing consumers. Facility expansion broadly refers to increasing the capacity or capabilities of an existing facility. Liebherr-Components Biberach GmbH, a Germany-based equipment manufacturing company, announced the construction of a new facility in Germany in December 2022. This expansion unifies the entire hydraulic cylinder manufacturing process into one location, enhancing economic effectiveness.

In December 2021, Wheels India Ltd (WIL), an Indian auto component manufacturer, merged with Sundaram Hydraulics Ltd for an undisclosed amount. This merger is expected to contribute to consolidation, greater integration, and flexibility, thereby increasing total shareholder value and strengthening the competitive position and bargaining leverage of the combined entity. Sundaram is an Indian hydraulic cylinder manufacturer.

Major companies operating in the hydraulic cylinder market report are Caterpillar Inc., Thermo Fisher Scientific Inc., Linde PLC, Eaton Corporation, Parker-Hannifin Corporation, Liebherr Group, Kawasaki Heavy Industries Ltd., Wipro Infrastructure Engineering (WIN), Bosch Rexroth, SMC Corporation, HYDAC International GmbH, The Timken Company, Trelleborg Group, The Jiangsu Hengli Hydraulic Co. Ltd., BDI Express, Taiyo Ltd., Standex International Corporation, Enerpac Tool Group, Sun Hydraulics LLC, Texas Hydraulics Inc., Prince Manufacturing Corporation, High Purity Laboratory Chemicals Pvt. Ltd., Ligon Industries LLC, Zenith Hydromatic, LEO engineers, Spareage Hydro, Kangaroo Hydraulics Private Limited, Swapnapoorti Hydraulics, KYB Americas Corporation, Tianjin Henghua Pipeline Technology Co. Ltd.

Asia-Pacific was the largest region in the hydraulic cylinder market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic cylinder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hydraulic cylinder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of hydraulic cylinders are single-acting hydraulic cylinders and double-acting hydraulic cylinders. Single-acting cylinders extend through pump pressure and retract through load weight or built-in springs. Specifications include telescopic, tie rod, mill type, and welded cylinders, with bore sizes categorized as less than 50 mm, 50 to 150 mm, and greater than 150 mm, applied across industrial equipment and mobile equipment. End-use industries span construction, aerospace and defense, material handling, agriculture, automotive, mining, oil and gas, marine, and others.

The hydraulic cylinder market research report is one of a series of new reports that provides hydraulic cylinder market statistics, including hydraulic cylinder industry global market size, regional shares, competitors with a hydraulic cylinder market share, detailed hydraulic cylinder market segments, market trends and opportunities, and any further data you may need to thrive in the hydraulic cylinder industry. This hydraulic cylinder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hydraulic cylinders market consists of sales of tie-rod cylinders, welded rod cylinders, telescopic cylinders. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.