Increase in demand for efficient construction and mining activity as well as the emergence of new technologies drives the market.
PORTLAND, OR, UNITED STATES, October 17, 2021 /EINPresswire.com/ — Hydraulic cylinders are mechanical equipment that offer linear movement for lifting heavy loads or handling bulky materials in industrial and mobile applications. These cylinders are used in construction, load lifting, and equipment handling machinery. Based on function, it is categorized into single acting cylinders and double acting cylinders. The hydraulic cylinders consist of cylinder barrel, base, head, piston, piston rod, and seals.
The global hydraulic cylinders market is expected to reach $16,333.1 million by 2025, from $11,055.5 million in 2017, growing at a CAGR of 5.1% from 2018 to 2025.
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The growth of the global hydraulic cylinders market is driven by rise in the material handling equipment industry. Increase in new technologies such as SGH wire-actuated encoders, which measure the cylinder stroke in the hydraulic cylinder, boost the demand for hydraulic cylinder across the world. Growth in the construction equipment market is anticipated to provide potential opportunities for the key players operating in the market.
However, hydraulic cylinders are expensive, and its maintenance & operation costs are very high. This factor restricts the growth of the global hydraulic cylinders market. Rise in labor cost in construction and mining activities is expected to offer growth opportunities for the hydraulic cylinder industries in near future.
Key Market Players
Bosch Rexroth AG
Eaton Corporation Plc
Jiangsu Hengli Hydraulic Co., Ltd.
Kawasaki Heavy Industries
Parker Hannifin Corporation
Wipro Enterprises Limited
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Key Market Segments
By Bore Size
Less than 50mm
51mm to 100 mm
101mm to 150 mm
Greater than 151 mm
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