Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Automotive Hydraulic Cylinder Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Single Acting Cylinders and Double Acting Cylinders), Truck Type (Car Carriers, Garbage Compactors, Hook Loader, Side Tipper, Drop Deck Trailer, and Modular Trailer), Mounting Type (Rod End and Cap End), and Geography,” the market is expected to grow from US$ 888.42 million in 2022 to US$ 1,207.58 million by 2028; it is estimated to register a CAGR of 5.2% from 2022 to 2028.
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A hydraulic cylinder is a tube that produces linear actuation utilizing hydraulic pressure. The cylinder comprises a steel tube, a piston with an attached rod, and mounting accessories. The hydraulic fluid pressure forces a piston to move in a pushing or pulling motion. Hydraulic cylinders are durable and create more amount of force when compared to pneumatic, mechanical, and electrical systems. The cylinders require a significant amount of force for various tasks such as lifting, pushing, and pressing. They are used in numerous mobile applications, including excavators, dump trucks, graders, loaders, dozers, and backhoes, that move heavy loads. Single acting and double acting cylinders are two types of hydraulic cylinders used in automotive applications. The existence of key players providing automotive hydraulic cylinders plays a crucial role in the competitive market. With technological innovations, hydraulic cylinders are expected to be highly efficient in the coming years.
Increasing demand from the construction industry and the growing use of hydraulic cylinders in mining vehicles are among the factors driving the automotive hydraulic cylinders market growth. Further, increasing strategic activities such as expansion, partnership, acquisition, and collaboration by market players would provide lucrative opportunities for the market during the forecast period. The development of smart hydraulic cylinders is expected to emerge as a trend in the market during 2022–2028.
Global Automotive Hydraulic Cylinders Market Scope:
| Market Size Value in | USD 888.42 Million in 2022 |
| Market Size Value by | USD 1,207.58 Million by 2028 |
| Growth rate | CAGR of 5.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| Segments covered | Offering, Type, End-User |
| Regional scope | North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Automotive Hydraulic Cylinders Market: Competitive Landscape and Key Developments
HYVA; Jiaheng Hydraulic cylinder Co., ltd; Wipro Enterprises; Montanhydraulik GmbH; and Delta Hydraulics are a few key players operating in the automotive hydraulic cylinders market across the world. During this study, several other market players were analyzed to get a holistic view of the market size and its ecosystem.
In 2021, Delta Hydraulics is delivering a range of engineering products and services using the latest technology and designs for naval ships, boats, and submarines. Engineering and fabrication services provided by the company for maritime sectors include advanced composites, castings, engineering design & prototyping, laser cutting, machinery repair, hydraulic systems manufacture & design, modular accommodation outfitting, metal manufacturing, fabrication & construction, and polymer fabrication.
In 2021, Wastequip, a North American waste-handling equipment manufacturer, acquired Wastebuilt Environmental Solutions, LLC, an equipment, parts, and services provider for specialty and refuse fleet applications.
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Automotive Hydraulic Cylinders Market: Truck Type Overview
Based on truck type, the automotive hydraulic cylinders market size is segmented into car carriers, garbage compactors, hook loader, side tipper, drop deck trailer, and modular trailer. The tipping vehicles segment accounted for the largest share of the market in 2021. A tipper is a trailer that is a non-motorized trailer and is usually towed behind truck tractors. Tippers are used for collecting, carrying, and fetching heavy loads and loose materials as quickly as possible on construction sites, mines, and dump yards. Tippers are attached to a hydraulic mechanism that can tip the entire vehicle container in order to offload its contents. Tippers comes in variety ofvarious mechanisms such as side tippers, and three wat tippers and others. Hydraulic cylinders are required To to control the sides of tipping sides hydraulic cylinders are required, which is placed at four corners of the chassis. Increasing demand for tippers from the mining industry contributes to the tipper segment the growth in the automotive hydraulic cylinders market growth for the tipper segment. Players such as WEBER-HYDRAULIK GMBH are engaged in providing hydraulic cylinders for side tipper applications.
Automotive Hydraulic Cylinders Market: Impact of COVID-19 Pandemic
The COVID-19 outbreak disrupted various primary industries, such as automobiles and construction. A negative pandemic impact on the growth of these industries limited the automotive hydraulic cylinders market growth. Factory shutdowns, trade bans, and border lockdowns to combat the novel coronavirus infection spread negatively impacted the working of automobile component companies across the world. The demand for hydraulic cylinders experienced a massive decline owing to the temporary shutdown of construction sites that reduced the need for construction vehicles and the temporary restrictions on construction vehicle manufacturing units across the world. However, with the relaxation of norms and international trade restrictions imposed by governments, the demand and supply of automotive hydraulic cylinders started to revive across the world since Q2 of 2020. Additionally, the demand for construction vehicles has constantly been increasing since 2021 due to the rising construction activities across the world, aiding in the revival of the global automotive hydraulic cylinders market size.
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