Global hydraulic cylinder market is projected to reach USD 18.3 billion by 2027 USD 14.3 billion in 2021; it is expected to register a CAGR of 4.4% from 2022 to 2027.


The markets growth can be attributed majorly to the increasing demand for heavy construction and mining vehicles from construction, mining, and oil & gas industries. Increasing adoption of material handling equipment across industries worldwide is a major booster for the growth of the market.


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Parker-Hannifin Corporation (US), Caterpillar (US), KYB Corporation (Japan), Bosch Rexroth (Germany), Eaton (Ireland), Enerpac Tool Group (US), SMC Corporation (Japan), HYDAC (Germany), Wipro Enterprises (India), and The Jiangsu Hengli Hydraulic Co., Ltd. (China) are a few major players in global Hydraulic Cylinder Market.


APAC to Witness Highest CAGR in Hydraulic Cylinder Market During Forecast Period


The hydraulic cylinder market in APAC held the largest share and is expected to grow at the highest CAGR from 2022 to 2027. The growing demand for agricultural, construction, and mining equipment in this region is supporting the growth of the market. The growing demand for food from the growing population in this region and the increasing industrialization in emerging countries are fueling the growth of the agriculture and construction industries in the region. Japan and Australia are the major markets for hydraulic cylinders in APAC. Japan is home to major automotive manufacturers and suppliers who are challenged by rising labor costs and higher lead time associated with manual processes. To overcome these challenges, companies are adopting automated and semi-automated material handling equipment. Australia is rich in minerals, and the mining of these minerals is fueling the demand for mining equipment.


Agriculture Industry to Register Highest CAGR in Hydraulic Cylinder Market During Forecast Period


The market for the agriculture industry is expected to grow at the highest CAGR during the forecast period. The agriculture industry is growing with the increasing use of machines for performing complex tasks – from planting vegetables to plowing fields. From pecan tree shakers to sugar cane harvesters and automated bale trailers to sprayer booms, hydraulic cylinders are deployed in almost all the agriculture equipment for lifting and movement control. The globally increasing population and the deteriorating environmental conditions have put pressure on the agriculture industry to meet the food demand. This has increased investments in machines for precision agriculture, which is expected to drive the demand for hydraulic cylinders.