Market Research Future (MRFR) has published on the “Global Telescopic Hydraulic Cylinders Market”.
The Telescopic Hydraulic Cylinders market is estimated to register a CAGR of 5.5% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Telescopic Hydraulic Cylinders market— Enerpac Tool Group, Bosch Rexroth, Caterpillar, Eaton, KYB Corporation, SMC Corporation, Jiangsu Hengli Hydraulic, Wipro Enterprises, HYDAC, Standex International, Texas Hydraulics Inc, and Weber-Hydraulik Gmbh.
Market Highlights
The global Telescopic Hydraulic Cylinders market is accounted to register a CAGR of 5.5% during the forecast period and is estimated to reach USD 1.9 billion by 2032.
The worldwide surge in industrialization and urbanization is propelling the need for telescopic hydraulic cylinder systems in diverse industries, including transportation, manufacturing, and construction. The proliferation of infrastructure projects necessitates increased utilization of heavy machinery and equipment that are outfitted with efficient telescopic hydraulic systems in order to streamline construction and development operations. Moreover, the increasing focus on automation and operational effectiveness across sectors bolsters the need for sophisticated hydraulic solutions, thereby establishing a solid foundation for the market's continued expansion.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Telescopic Hydraulic Cylinders Market Research Report
Segment Analysis
The global Telescopic Hydraulic Cylinders market has been segmented across function, specification, application, bore size and industry.
The market is segmented by function into single-acting and double-acting. The largest market share is held by the double-acting hydraulic cylinder segment, which is distinguished by its adaptability and capacity to apply force in both directions.
The global Telescopic Hydraulic Cylinders market has been segmented into welded, tie rod, telescopic and mill type based on specification. The tie rod hydraulic cylinder segment holds the most substantial market share owing to its extensive utilization in diverse sectors and implementations.
Based on application, the global Telescopic Hydraulic Cylinders market has been industrial and mobile. The industrial hydraulic cylinder sector holds the most substantial market share owing to its extensive utility in the construction, manufacturing, and other heavy-duty industries.
Based on bore size, the global Telescopic hydraulic cylinders market has been segmented into <50 MM, 50–150 MM, and >150 MM. In general, the 50–150 MM segment holds the largest market share owing to its adaptability and utilization in a vast array of industries and equipment.
The global Telescopic Hydraulic Cylinders market has been segmented by industry into construction, aerospace, material handling, agriculture, mining, automotive, marine, oil and gas and others. The construction segment typically occupies the largest market share due to the extensive use of hydraulic systems in various construction equipment and machinery.
Regional Analysis
The global Telescopic Hydraulic Cylinders market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Telescopic Hydraulic Cylinders market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Telescopic Hydraulic Cylinders market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Telescopic Hydraulic Cylinders market comprises the Middle East, Africa, and Latin America.
The telescopic hydraulic cylinders market in North America is thriving, and the United States is anticipated to hold the largest market share. This is primarily due to the country's robust manufacturing sector and extensive infrastructure initiatives. Canada closely follows as the second-largest market, with its robust mining and automotive sectors providing significant advantages. Although North America does not have the most rapid market growth rate, its innovation-driven economy and well-established industrial foundation guarantee long-term progress and market dominance.
The telescopic hydraulic cylinders market in Europe is experiencing significant growth, with Germany, a country recognized for its engineering expertise and leadership in the automotive and machinery industries, projected to hold the largest market share. France and Italy, in addition to Germany, make substantial contributions to the hydraulic market in Europe, with a particular emphasis on the aerospace and construction industries. Although Europe's market growth may not be as swift as that of emerging regions, the continent's commitment to environmental standards, stability, and technological prowess establishes it as a formidable competitor in the global hydraulic systems market.
The telescopic hydraulic cylinders market in the Asia-Pacific region is undergoing rapid and substantial expansion, with China anticipated to hold the largest portion of the market. This is primarily due to its expansive infrastructure projects and formidable manufacturing capabilities. India, which is the second-largest market, is characterized by substantial expansion in the automotive, construction, and material processing industries. Asia-Pacific, due to its expanding middle class and rising demand for industrial automation, demonstrates the most rapid compound annual growth rate (CAGR), rendering it a pivotal region for hydraulic system manufacturers in search of prospects for expansion.
The telescopic hydraulic cylinders market in the Rest of the World (RoW) region is characterized by a varied outlook. Among this region, the Middle East is anticipated to hold the largest share, primarily due to its investments in infrastructure projects and oil-rich economies. Brazil emerged as a prominent participant in the Latin American market, primarily propelled by its automotive and mineral sectors. Although RoW does not hold the largest market share on a global scale, its strategic significance in industries like oil & gas and mining guarantees consistent expansion and prospects for hydraulic systems providers.
Key Findings of the Study
- The global telescopic hydraulic cylinders market is expected to reach USD 1.9 billion by 2032, at a CAGR of 5.5% during the forecast period.
- Asia-Pacific is expected to be the fastest-growing region in the Telescopic Hydraulic Cylinders market due to rapid industrialization, urbanization, and infrastructure development, particularly in countries like China and India.
- Based on application, the industrial segment was attributed to holding the largest market in 2023, with an approximate market share of 65–75%.
- Enerpac Tool Group, Bosch Rexroth, Caterpillar, Eaton, KYB Corporation, SMC Corporation, Jiangsu Hengli Hydraulic, Wipro Enterprises, HYDAC, Standex International, Texas Hydraulics Inc. and Weber-Hydraulik Gmbh are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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