Hydraulic Cylinder Market set for 5.95% CAGR Explosive Growth to 2023 led by Aerospace & Defense Industry - RnRMarketResearch
PUNE, India, November 17, 2017 /PRNewswire/ --
Hydraulic cylinder market is expected to be valued at $ 13.64 billion in 2017 and is projected to reach $ 19.30 billion by 2023, at a CAGR of 5.95% between 2017 and 2023. The key factor driving the growth of the hydraulic cylinder market is their rising demand in the construction industry and mining process equipment. Increasing demand for lifting equipment in the shipping industry and for material handling equipment in the aerospace & defense industry is the key opportunity for the players in the hydraulic cylinder market.
Browse 66 Market Data Tables and 55 Figures spread through 154 Pages and in-depth TOC on "Hydraulic Cylinder Market Global Forecast to 2023" http://www.rnrmarketresearch.com/hydraulic-cylinder-market-by-function-single-acting-double-acting-specification-telescopic-tie-rod-mill-type-welded-application-mobile-and-industrial-bore-size-industry-and-region-global-forecast-to-2023-market-report.html .
Hydraulic cylinder market for the aerospace & defense industry is expected to grow at the highest CAGR between 2017 and 2023. The aerospace industry seeks to enhance manufacturing through automated, efficient, and effective processes. In this industry, hydraulic cylinders are used in various types of equipment, such as ground handling equipment, baggage handling equipment, engines, ramps, door actuators, brakes and wheels, flight controls, fuel systems, and specialty aircraft repair equipment. Hydraulic cylinders are also a major component of aircraft landing gears. Landing gears are hydraulically operated, and hydraulic cylinders play a critical role in systems and control surfaces such as flaps, speed brakes, and ailerons.
The major market players in the Hydraulic Cylinder market are Caterpillar (US), Parker Hannifin (US), Actuant (US), Eaton (Ireland), Jiangsu Hengli Hydraulic (China), Robert Bosch (Germany), and Wipro (India), Bosch, Hydac, KYB, SMC.
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Based on function, the market for double-acting hydraulic cylinders is projected to grow at the highest CAGR between 2017 and 2023. In double-acting cylinders, there are 2 ports for the input and output of the hydraulic fluid. The pressure from the fluid can be used in both directions to expand and retract the piston. It can be used vertically as well as horizontally as it has the mechanism to help the piston expand and retract each time it pushes or needs to pull an object.
The breakup of the profiles of primary participants has been given below.
- By Company Type: Tier 1-65%, Tier 2-30%, and Tier 3-5%
- By Designation: C Level-55%, D Level-20%, and Others-25%
- By Region: North America-45%, Europe-20%, APAC-30%, and RoW-5%
This research report segments the hydraulic cylinder market on the basis of function, specification, application, bore size, industry, and geography. Based on function, the market has been segmented into single acting and double acting. On the basis of specification, the market has been classified into tie rod, welded, telescopic, and mill type. Based on application, the market has been segmented into industrial equipment and mobile equipment. Based on bore size, the market has been segmented into150 mm. Based on industry, the market has been classified into construction, aerospace & defense, material handling, agriculture, mining, automotive, marine, oil & gas, and others. Based on region, the market has been classified in to North America, South America, Europe, APAC, and RoW.
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Another research titled Aircraft Hydraulic System Market Global Forecast to 2021 says, The aircraft hydraulic system market is projected to grow from USD 935.9 million in 2016 to USD 1,158.5 million by 2021, at a CAGR of 4.36% during the forecast period. North America is estimated to lead the aircraft hydraulic system in 2016. Countries in this region include the U.S. and Canada. Significant investments in research and development on advanced aircraft hydraulic system by domestic players and increasing demand for lightweight and easy-to-install systems are some of the factors expected to boost the growth of the aircraft hydraulic system market in this region. Companies such as United Technologies Corporation (U.S.), Parker Hannifin Corporation (U.S.), Safran S.A. (France), Eaton Corporation PLC (Ireland), Liebherr-International AG (Switzerland), Woodward Inc. (U.S.), Triumph Group Inc. (U.S.), and Moog Inc. (U.S.).have been profiled in this 145 pages research report available at http://www.rnrmarketresearch.com/aircraft-hydraulic-system-market-by-type-open-center-closed-center-component-reservoir-filters-pumps-accumulators-actuators-hydraulic-fluid-platform-fixed-rotary-and-region-global-forecast-to-2021-market-report.html .
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