PUBLISHER: Grand View Research | PRODUCT CODE: 1727985
PUBLISHER: Grand View Research | PRODUCT CODE: 1727985
The global hydraulic cylinder market size is anticipated to reach USD 21.44 billion by 2030 and is expected to grow at a CAGR of 4.4% during the forecast period, according to a new report by Grand View Research, Inc. The market is primarily driven by expanding construction, mining, and agricultural activities globally, where hydraulic systems are essential for heavy-duty applications. The increasing adoption of automation and smart technologies in manufacturing and industrial processes also significantly boosts demand for efficient hydraulic components. Moreover, the rise in infrastructure development projects, especially in emerging economies, fuels the need for robust hydraulic equipment.
Opportunities in the market emerge from integrating IoT and predictive maintenance technologies into hydraulic systems, offering enhanced performance and reduced downtime. The shift toward electrification and energy-efficient solutions also creates room for innovation in cylinder design and performance, catering to the growing emphasis on sustainability.
On the regulatory front, environmental and safety regulations are becoming stricter, particularly in North America and Europe, pushing manufacturers to develop cleaner, more energy-efficient hydraulic systems. Compliance with standards such as ISO 6020/2 and EU directives is essential for market players to maintain their competitive edge and ensure product reliability.
Leading players in the market, such as Bosch Rexroth AG, Caterpillar, and Parker-Hannifin Corporation, are focusing on product innovation, strategic collaborations, and global expansion to increase their market share. These companies invest in R&D to develop lightweight, durable, and eco-friendly hydraulic cylinders while also expanding their service networks and production facilities in high-growth regions to cater to local demand more effectively. For instance, in April 2024, HPS International released the V72 hydraulic cylinder series, an evolution of the VBLS. It offers new mounting and rod end options, fast delivery (less than 5 working days), and fixed strokes and options for simplified selection. As the simplest and most economical version of the VBL cylinder, the V72 maintains quality and reliability.