The effects of the growth of the hydraulic industry on the global cylinder market

The hydraulic equipment market was valued at USD 44.11billion in 2020 and is expected to reach UDS56.98billion by 2026 at a CAGR of 4.36% over the period of 2021–2026. 

The reason for this projected growth is the accessibility and the various uses of hydraulic equipment within a variety of industries including construction, roofing, material handling and masonry. Hydraulic systems are used in equipment such as bulldozers, lifts and cranes, and in power transmission and braking applications within the automotive and aviation industries.

Another contribution to the growth is that more hydraulic equipment manufacturers are offering various integrated hydraulic cylinder systems. This will help to enhance the value of systems and subsystems that include cylinders as well as ancillary products such as pumps and valves, which also help to increase profits with regards to maintenance and aftermarket services.

The growth of the hydraulic cylinder market

A major market trend to come from the report is the projected significant growth of hydraulic cylinders.

  • The integration of electronics with hydraulic cylinders is increasing the accuracy, functionality and improvements with controlled performance and ease of use. Smart cylinders – electro-hydraulic cylinders – are becoming increasingly popular. These cylinders combine electronic controls and servo valves such as transducers offering electronically controlled valves and rod position feedback ensuring efficient operations. Smart cylinders have narrowed the threat of electric actuators while expanding the scope of hydraulic equipment applications.
  • Double acting cylinders are expected to experience tremendous growth due to their usage within applications where gravity is the prominent element that affects the acceleration and retardation.
  • Double acting function-based cylinders are used within heavy trucks, forklifts and earth moving equipment which will continue to grow the market.

With the construction industry growing this will affect the demand of hydraulic cylinders over the forecast period. According to a combined study by Global Construction Perspective and Oxford Economics, the construction industry is expected to reach a value of USD 15.5 trillion by 2030. This with technological developments in core construction and infrastructure industry is expected to advance the hydraulic cylinder market even further.

Power Team SA, a hydraulic component supplier, can provide expert opinion and solutions on all industries assisting with their hydraulic system needs. Power Team SA has a full team of trained professionals who are on hand throughout South Africa to assist all existing and potential clients with all queries.