Significant Growth of Hydraulic Cylinder Market through 2025

Posted July 23, 2021 by ctom7000

Hydraulic cylinder market for agriculture to exhibit high growth during the forecast period
The hydraulic cylinder market size was valued at USD 13.4 billion in 2020 and is projected to reach USD 15.8 billion by 2025; it is expected to grow at a CAGR of 3.3% from 2020 to 2025. Hydraulic cylinders offer the advantage of withstanding corrosive and abrasive environments, extreme temperatures and weather changes, and can be used continuously on a long run. These is expected to increase their preference in various end-use industries such as construction, mining, oil & gas, and automotive.

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Several companies in the hydraulic cylinder market are continuously investing in R&D activities to develop better and upgraded hydraulic cylinders, which would offer better solutions to their clients. Owing to the high competitiveness of the hydraulic cylinder market, companies need to upgrade their products periodically. The development of smart hydraulic cylinders is one of the key innovations in the market.

The double-acting hydraulic cylinder market is expected to grow at the highest CAGR from 2020 to 2025. This type of cylinders can be used vertically as well as horizontally as they have the mechanism to help the piston to expand and retract each time it pushes or needs to pull an object. Double-acting hydraulic cylinders have a higher demand in mobile applications such as forklifts, earth moving equipment, lifting equipment, and heavy trucks. However, the outbreak of COVID-19 pandemic has affected the prominent players in the industry. The foreseeable decline in the growth of end-user industries such as construction, automotive, and mining may have a considerable direct impact on the hydraulic cylinder market in FY20.

The hydraulic cylinder market with bore size
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Issued By Tom
Country United Kingdom
Categories Semiconductors
Tags hydraulic cylinder market
Last Updated July 23, 2021