A new research study titled “Global Market Study on Hydraulic Cylinders: North America to Remain Most Remunerative Market for Hydraulic Cylinders during 2017 - 2026” has recently been submitted to the repository of Market Research Reports Search Engine (MRRSE). According to the report, the global hydraulic cylinders market is projected to surpass US$ 16 Bn by the end of 2026.
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According to the report, the global hydraulic cylinders market is likely to be driven by a number of macroeconomic and microeconomic factors. The growing demand for equipment that has been made from hydraulic cylinders is one of the key factors driving the growth of the market. Use of hydraulic cylinders in manufacturing equipment for use in construction, aerospace, defense, and mining is likely to provide an impetus to growth during the assessment period.
The report also projects that surging demand from small and medium-scale industries in China and India will provide an impetus to market growth during the assessment period. The relatively low labor costs in these countries has made equipment manufacturing a lucrative option, and this is fuelling the demand for hydraulic cylinders.
The report segments the global hydraulic cylinders market into bore size, product type, application, function and region. The bore size segment is further categorized as less Than 25, 26 – 50, 51 – 100, 101 – 150 and 150 above. According to the report, demand for bore size in the specification 51-100 is likely to remain the largest during the assessment period. On the basis of product type segment, the global market is bifurcated into welded cylinders and tie-rod cylinders. By product type, welded cylinders are likely to remain the largest product segment during the assessment period. The application segment is sub-segmented into Automotive, Agricultural & Forestry, Construction, Material Handling, Oil & Gas, Aerospace & Defense and Industrial Equipment. According to the report, agricultural and forestry are among the largest application segments for hydraulic cylinders globally. The function segment divides the global market into Double Acting Cylinders and Single Acting Cylinders.
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Geographically, the market is divided into key regions globally which are North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan. North America and Europe are among the most prominent markets for hydraulic cylinders globally, and the trend is likely to remain pervasive throughout the forecast period.
The report profiles some of the leading players operating in the market. Some of the key players profiled in the report are Bosch Rexroth, Parker Hannifin, Eaton, ZF Friedrichshafen AG, Aisin Seiki, Sumitomo Corporation, SKF AB, Emerson, ABB and Mitsubishi Electric Corporation.
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