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According to Research Dive analysis, the global hydraulic cylinders market size is estimated to generate a revenue of $16,977.3 million by 2028, increasing from $11,568.7 million in 2020, at a healthy CAGR of 5.0%.

COVID-19 Impact on the Global Hydraulic Cylinders Market:

The COVID-19 pandemic has created enormous uncertainties for functioning of various business owing to drastic decline in demand for various products from different industries across the world. The hydraulic cylinders industry which finds application across construction, material handling, aerospace, energy, and shipbuilding industry also experienced a negative impact due to cancellation and delays in construction projects.

Ban on non-essential activities, social distancing norms, unavailability of raw materials, travel restriction, and ban on import-exports led to decline in demand and availability of hydraulic cylinders. Severe economic losses due to complete shutdown of industrial and manufacturing sector have led to decline in the supply, demand, and availability of hydraulic cylinders. All these factors have greatly affected the hydraulic cylinders market size during the pandemic.

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The use of hydraulic cylinders across hydraulic excavator, compact track loaders, skid steer loaders hydraulic hammer & breakers, cement mixers, compactors and others in construction sector is estimated to drive the market growth. The use of hydraulic cylinders in construction sector has increased the productivity as they have efficient power-to-weight and power-to-size ratios which are used for generating enormous force used for lifting heavy equipment in construction industry.

The use of hydraulic cylinders has enabled the construction equipment to be controlled with high precision to achieve the incredible range of motion. This has also enabled the devices to function in multi-purpose ways. For instance, skid steer can be used for digging posts in the morning and can be switched to moving pallets of supplies in the afternoon. Hence, right from moving massive amount of soil to lifting large glass windows, hydraulic cylinders find applications across various sectors. All these aspects are estimated to drive the hydraulic cylinders market growth during the forecast period.

Growing concerns regarding fluid leaks in the hydraulic cylinders especially in hot areas are estimated to restrain the hydraulic cylinder market growth. The fluid leaks as well as hydraulic lines bursts can cause serious injuries and health issues such as severe burns, loss of limbs, and poisoning. Hydraulic fluid leak can also damage respiratory and nervous system, leading to lung disease, chronic bronchitis, and asthma.

The advancements in hydraulic cylinders such as high-level corrosion resistance, light weight, and material advancement are estimated to drive the hydraulic cylinders market share. For instance, earlier, high strength steel was used for heavy industrial & mobile applications and low-density alloys were used for lightweight applications. These are now being replaced with carbon fiber composite materials that have high strength and are lightweight. The use of such light weight, corrosion resistant, and composite cylinders improve the performance of hydraulic cylinders in various applications such as drilling rigs, concrete pumps, wind turbines, and others. In addition, the use of advanced materials for seals of hydraulic cylinders such as polyurethane, plastics, rubbers, fabric reinforced elastomers, and others is estimated to generate huge growth opportunities by providing durability, reliability, and enhanced performance to the hydraulic cylinders.

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Based on type, the hydraulic cylinders market has been divided into double acting and single acting. The double acting sub-segment is predicted to show fastest growth rate and generate a revenue of $10,686.7 million by 2028.

Based on design, the hydraulic cylinders market has been divided into welded, tie-rod, and others. The welded hydraulic cylinders sub-segment is predicted to show fastest growth rate and generate a revenue of $8,941.5 million by 2028.

Based on application, the hydraulic cylinders market has been classified into mobile and industrial. The mobile sub-segment is predicted to show fastest growth rate and generate a revenue of $10,646.1 million by 2028.

Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific hydraulic cylinders market is anticipated to rise at a growth rate of 5.6% by 2028 from the revenue generated in 2020.

The companies involved in the global hydraulic cylinders market are Bosch Rexroth AG, Wipro Infrastructure Engineering, Parker Hannifin, Bailey International LLC, Caterpillar, Inc., Aggressive Hydraulics, Inc., Eaton, Enerpac, SMC Corporation, and KYB Americas Corporation.

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