Dublin, Aug. 28, 2020 (GLOBE NEWSWIRE) -- The "Hydraulic Cylinder Market with COVID-19 impact Analysis by Function (Double-Acting, Single-Acting), Specification (Welded, Tie-Rod, Telescopic, Mill-Type), Application (Mobile and Industrial), Bore Size, Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global hydraulic cylinder market was valued at USD 14.8 billion in 2019 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. Key players in the hydraulic cylinder market are Bosch Rexroth (Germany), Caterpillar (US), Eaton (Ireland), Parker Hannifin (US), and SMC Corporation (Japan), among others.
The growth of this market is attributed to rising demand in the construction industry, increasing demand in mining process equipment, and growing demand for material handling equipment. However, factors such as disruption in supply chain owing to lockdown in leading economies due to COVID-19 pandemic, increasing oil leakages from hydraulic cylinders and the high cost of manufacturing and maintenance are restraining the market growth.
COVID-19 has emerged as a global pandemic that has spread across 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the hydraulic cylinder market.
Double-acting hydraulic cylinder market to witness high-growth potential during the forecast period
Double-acting hydraulic cylinders are used in agriculture, automotive, and several other industries owing to their retraction property. Double-acting hydraulic cylinders have a higher demand in mobile applications such as lifting equipment, earth moving equipment, forklifts, and heavy trucks.
Telescopic cylinder market to grow at highest CAGR during the forecast period
Telescopic cylinders are also called multistage cylinders. They comprise of several cylinders nested inside each other, termed as stages. To maintain stability, there are six stages. The largest sleeve is called the main or barrel within which the smaller ones fit. The retraction length of these cylinders is 20-40% of the fully extended length. The high growth of telescopic hydraulic cylinders is attributed to their extensive use in applications such as dump trucks, excavators, roll-off trucks, and cranes.
Mobile application market to grow at highest CAGR during the forecast period
The mobile equipment application of hydraulic cylinders held a larger share of the hydraulic cylinder market. Mobile equipment, such as excavators, loaders, and cranes, requires 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.
APAC to be the largest market for hydraulic cylinders during the forecast period
APAC is expected to lead the hydraulic cylinder market in terms of size, from 2020 to 2025. Growing demand for agricultural, construction, and mining equipment in APAC is supporting the growth of the hydraulic cylinder industry. The need to meet the requirements of a growing population in APAC, along with increasing industrialization in emerging countries, is fueling the growth of agriculture and construction industries, which, in turn, are increasing the demand for hydraulic cylinders for use in agriculture and construction equipment.
The outbreak of the COVID-19 pandemic in the region has led to a significant slowdown in the manufacturing industry. The pandemic has severely affected the manufacturing and supply chain of hydraulic cylinders. The implementation of lockdown in several countries in the region has led to supply chain disruptions eventually affecting the global economy.
Key Topics Covered
2 Research Methodology
3 Executive Summary
3.2 Realistic Scenario
3.3 Pessimistic Scenario
3.4 Optimistic Scenario
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
22.214.171.124 Significant Demand from Construction Industry
126.96.36.199 Increasing Demand for Material Handling Equipment
188.8.131.52 Growing Use in Mining Equipment
184.108.40.206 Disruption in Supply Chain Owing to Lockdown in Leading Economies due to COVID-19
220.127.116.11 Increased Concerns Regarding Oil Leaks
18.104.22.168 High Manufacturing and Maintenance Costs
22.214.171.124 Increasing Demand for Lifting Equipment in Shipping Industry
126.96.36.199 Growing Focus on Developing Smart Hydraulic Cylinders
188.8.131.52 Availability of Substitute Products
5.3 Value Chain Analysis
5.4 Components of Hydraulic Cylinders
5.4.2 Cylinder Barrel
5.4.3 Piston Rod
5.4.4 Cylinder Base
5.4.5 Cylinder Head
5.4.6 Cylinder Seal
6 Hydraulic Cylinder Market, by Function
6.2 Double-Acting Hydraulic Cylinders
6.3 Single-Acting Hydraulic Cylinders
7 Hydraulic Cylinder Market, by Specification
7.2 Welded Cylinders
7.3 Tie-Rod Cylinders
7.4 Telescopic Cylinders
7.5 Mill-Type Cylinders
8 Hydraulic Cylinder Market, by Application
9 Hydraulic Cylinder Market, by Bore Size
9.2 &lessThan;50 mm
9.3 50-150 mm
9.4 >150 mm
10 Hydraulic Cylinder Market, by Industry
10.3 Aerospace & Defense
10.4 Material Handling
10.9 Oil & Gas
11 Geographic Analysis
11.2 North America
12 Competitive Landscape
12.2 Ranking of Players in Hydraulic Cylinder Market
12.3 Competitive Leadership Mapping, 2019
12.3.1 Visionary Leaders
12.3.3 Dynamic Differentiators
12.3.4 Emerging Companies
12.4 Competitive Situations & Trends
12.4.1 Product Launches
12.4.2 Expansions and Partnerships
12.4.4 Contracts and Agreements
13 Company Profiles
13.1 Key Players
13.1.1 Actuant Corporation (Enerpac Tool Group)
13.1.2 Bosch Rexroth
13.1.5 KYB Corporation
13.1.6 Parker-Hannifin Corporation
13.1.7 SMC Corporation
13.1.8 Jiangsu Hengli Hydraulic
13.1.9 Wipro Enterprises
13.2 Other Key Players
13.2.1 Burnside Autocyl
13.2.2 Jarp Industries
13.2.3 Kappa Engineering
13.2.4 Ligon Hydraulic Cylinder Group
13.2.7 Prince Manufacturing
13.2.8 Standex International
13.2.9 Texas Hydraulics
13.2.12 Aggressive Hydraulics, Inc.
13.2.13 Lehigh Fluid Power, Inc.
13.2.14 Bailey International, LLC
13.2.15 Yuasa Co. Ltd.
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