Hydraulic Cylinder Market

Parker Hannifin (US) and Eaton (Ireland) are the Key Players in the Hydraulic Cylinder Market

A hydraulic cylinder, also called a hydraulic actuator or a linear hydraulic motor, is an actuation device that uses pressurized hydraulic fluid to push and pull load, or resist motion under load. The cylinder uses the stored energy in hydraulic fluid, which can be oil or water, and converts it into force, for linear direction (unidirectional force) movement of the cylinder. The hydraulic cylinder market is expected to be valued at USD 19.30 Billion by 2023, growing at a CAGR of 5.95% between 2017 and 2023.

The key market players such as Caterpillar (US), Parker Hannifin (US), Actuant (US), Eaton (Ireland), Jiangsu Hengli Hydraulic (China), Robert Bosch (Germany), and Wipro (India) are focusing on strategies of product launches and developments, acquisitions, and collaborations to enhance their product offerings and expand their business.

Parker Hannifin is engaged in the development, manufacture, and sale of hydraulic cylinders. The company manufactures a diverse range of standard and customized hydraulic cylinders, including tie rod, roundline, and mill type. Parker Hannifin’s hydraulic cylinders are used in a variety of industrial applications, such as defense, mining, construction, oil & gas, and power generation. In recent years, Parker Hannifin has focused on product launches and acquisitions to expand its global footprint. In February 2017, the company acquired Helac Corporation, a leading manufacturer of helical rotary cylinders. The acquisition helped Parker Hannifin enhance its world-leading product portfolio of hydraulic cylinders. Moreover, in September 2015, the company launched its new range of composite tool cylinders made from carbon fiber components at the 2015 International Construction and Utility Equipment Exposition (ICUEE) held in Kentucky, US. The new lightweight cylinders are highly efficient and offer exceptional portable power for heavy-duty operations.

Eaton is another leading manufacturer of hydraulic cylinders in the overall hydraulic cylinder market. The company’s hydraulic cylinders are available in standard or custom-engineered models. Eaton specializes in manufacturing hydraulic cylinders suitable for use in harsh applications, such as offshore drilling, steel mills, and complex machine tools. The company’s products are used in industries such as aerospace, automotive, oil and gas, mining, and utilities. The company mainly focuses on product launches and expansions to expand its business in all geographical regions. For instance, in April 2017, the company expanded its authorized solution partner network. Through this expansion, Eaton will expand its partnership with solution and integration service providers. The partnership will enable system integrators to implement Eaton’s hydraulic solutions. Additionally, in September 2017, the company developed a new electro-hydraulic precision control machine. The Internet of Things (IoT)-ready machine in an autonomous closed-loop operation exhibits decentralized intelligence and can take care of the controls, thus reducing manpower requirements.

Other companies in the hydraulic cylinder market are Burnside Autocyl (Ireland), JARP Industries (US), Kappa Engineering (South Africa), Ligon Hydraulic (US), Marrel (France), Pacoma (Germany), Prince Manufacturing (US), Texas Hydraulics (US), Weber-Hydraulik (Germany), and Standex (US), among others.

Related Reports:

Hydraulic Cylinder Market by Function (Single Acting, Double Acting), Specification (Telescopic, Tie Rod, Mill Type, Welded), Application (Mobile and Industrial), Bore size, Industry, and Region - Global Forecast to 2023

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Report Code
SE 5728
RI Published ON
11/14/2017
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