A report from Research and Markets predicts growth in the global hydraulic cylinder market at a compound annual growth rate (CAGR) of 4.39% over the projected period of 2016 to 2020. Steady growth is attributed to continuous demand from agriculture, construction equipment, mining equipment, material-handling equipment, industrial equipment, aerospace, and defense sectors.
In the report, "Global Hydraulic Cylinder Market 2016-2020", Research and Markets identifies major drivers influencing market growth. They note a rising popularity of integrated solution and services, where all components of a hydraulic system including the hydraulic cylinder, valve, and pump, are sold as a single unit or kit. A focus on integrated solutions allows vendors to improve their profitability in maintenance and aftermarket services, in addition to strengthening their relations with clients.
With predictions that the population will expand to nine-billion by 2050, the agriculture industry is slated to grow with a 3.61% CAGR. The report identifies the rising demand for food and fiber as another driving factor for growth in the hydraulic-cylinder market, especially as more agricultural processes become mechanized.
The report also discusses challenges faced by vendors and the hydraulic cylinder market. One challenge is the limitations in repair and servicing of hydraulic cylinders that undergo failures due to noise, high fluid temperatures, and slowed operations.
The report divides the market into three regions: Americas; Asia-Pacific; and Europe, the Middle East, and Africa. It is prepared based on market analysis and inputs from industry experts. Key vendors for the forecast period are Bosch Rexroth, Eaton, HYDAC, Parker Hannifin, and Weber-Hydraulik.
