Hydraulic Cylinders to Witness High Demand in Infrastructure Sector
A recent market research report by TMR Research presents a thorough analytical account of the global market for hydraulic cylinders. The report, titled “Hydraulic Cylinder Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” presents a thorough assessment of drivers, restraints, trends, and opportunities in the market.
The report states that the global hydraulic cylinders market will exhibit a promising rate of growth in the next few years some of the key factors driving the market include the fact paced industrialization and urbanization activities in developing economies, rising military and defense budgets in developed countries, and the thriving global aerospace sector. The promising rise in demand for modern agricultural equipment across a number of developing as well as developed economies and the rising focus on energy conservation are also expected to drive the market. Furthermore, the thriving food processing sector across emerging economies is leading to the increase scope of usage of hydraulic cylinders, which, in turn, is providing vast scope of growth to the global hydraulic cylinders market.
The report states that the global hydraulic cylinders market will also be driven over the report’s forecast period owing to the increased demand for material handling equipment as a way of mitigating the impact of downtime in the production sector. This trend has increased the global demand for equipment such as electronic cranes across industries such as oil and gas, food and beverage, retail, and power.
The market is also benefitting from the increased rate of activities in the shale gas exploration sector. In countries such as the U.S., the shale gas industry is expanding at a promising pace and is expected to present massive growth opportunities to the hydraulic cylinders market. In the industrial sector, activities such as production capacity expansion and capacity utilization will also drive the market for hydraulic cylinders.
From a geographical standpoint, the global hydraulic cylinder market has been segmented into North America, Asia Pacific, Europe, and Rest of the World. Of these, the market in Asia Pacific is expected to account for a significant share of the global market, with China expected to contribute significantly to the Asia Pacific market. The vast funds invested by the Chinese government towards the improvement of the infrastructure sector will continue to present a promising scope of uptake for hydraulic cylinders in the country. India will also present promising growth opportunities to the Asia Pacific hydraulic cylinders market owing to continuous government efforts aimed at the modernization of agriculture and infrastructure.
In the North America hydraulic cylinder market, the U.S. is projected to expand at a promising pace. The thriving defense, aerospace, and material handling industries in the country will present the hydraulic cylinders market massive opportunities for growth. In the Rest of the World segment, countries such as Russia and Latin America are expected to emerge as promising markets owing to rising investments in the fields of agriculture, infrastructure, and transport.
The global hydraulic cylinder market features a largely competitive vendor landscape owing to the presence of a large number of local and global OEMs and suppliers. Some of the leading companies in the global market are Eaton Corporation PLC, Wipro Infrastructure Engineering, Bailey International LLC, Weber-Hydraulik Group, Enerpac Corp., Best Metal Products, Parker-Hannifin Corporation, Burnside Autocyl (Tullow) Ltd, Texas Inc., Lignon Industries LLC, Hannon LLC, Bosch Rexroth AG, Hyco International Inc., Aggresssive Inc., Hydrapac Italia, United Hydraulics, Caterpillar Inc., Pacoma GmbH, Chapel Hydraulic, Precision group Inc., Norrhydro OY, and Hydrosila.
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