Wellesley, MA (PRWEB) March 19, 2014
According to a new technical market research report Hydraulic Cylinders: Technologies and Global Markets, the global hydraulic cylinders market was valued at $9.5 billion for 2012 and $10.1 billion for 2013. BCC Research expects the market to grow to nearly $12.5 billion by 2018 and register a five-year compound annual growth rate of 4.4% from 2015 to 2020.
The global market for hydraulic cylinders has undergone many changes in the past decade due to the decline in application industries, such as construction, material handling, mining, container shipping, aerospace and defense, and others. Hydraulic cylinders are broadly divided into two types by function: single acting hydraulic cylinders and double acting hydraulic cylinders. Single acting hydraulic cylinders apply hydraulic force in only one direction, usually to extend the cylinder. Double acting cylinders have two ports for the intake and outtake of hydraulic fluids. The pressure from the fluid can be used in both directions in order to expand and retract the piston. It can be mounted in any direction for lifting, pushing and pulling operations.
Globally, the demand for hydraulic cylinders is driven by the increasing demand for their application in the equipment used in industries such as construction, mining, manufacturing, agriculture, and aerospace and defense. Additionally, increasing demand from the OEMs due to increasing industrial production and growing global trade also contributes toward growth.
This market is growing steadily, primarily driven by the emerging economies because the North American and European markets have reached the saturation stage. However, the mature markets have provided an enormous opportunity for the emerging markets, by outsourcing their manufacturing requirements to the developing markets.
This technical market research report provides an in-depth analysis of recent developments and current trends in the global hydraulic cylinder marketplace, including significant drivers of revenue growth in specific cylinder categories. The market is broken down by major types of equipment, including their function, specification, and design. The market for hydraulic cylinders is also estimated by end-user industry, regional market, and major player. Revenue forecasts from 2013 to 2018 are given for each major type of hydraulic cylinder, end-user industry and regional markets.
The report concludes with a special focus on India and China, two major outsourcing markets for hydraulic cylinders manufacturing. It covers the market size and forecast along with major trends in these two markets, the drivers for outsourcing to these countries, and discusses the major players in these markets and end-user industries.
This report is intended especially for manufacturers, suppliers, end users, and others with a vital interest in specific hydraulic cylinders and end-user market segments. It will also be of interest to industries such as material handling, construction, infrastructure, oil and gas, automotive, and heavy metal and mining. In addition, because of this report’s business focus, it will be useful to sales executives and business managers as an up-to-date guide to challenges, drivers and trends that are expected to be significant factors in the current and future market.