The automotive hydraulic cylinders market size is projected to reach US$ 1839.17 million by 2031 from US$ 950.57 million in 2023. The market is expected to register a CAGR of 5.2% in 2023–2031. Increasing demand from the construction industry and the growing use of hydraulic cylinders in mining vehicles are among the factors driving the growth of the automotive hydraulic cylinders market. Further, increasing strategic activities such as expansion, partnership, acquisition, and collaboration by market players would provide lucrative growth opportunities for the market during the forecast period. The development of smart hydraulic cylinders is expected to emerge as a trend in the automotive hydraulic cylinders market during 2023–2031.
Technological innovation is allowing manufacturers to introduce new compact, modular, and intelligent hydraulic systems that can be integrated with different electronics. Smart hydraulic systems, incorporated with sensors and other electronic components, are popularly being used in a wide range of vehicles, from lighter-duty agricultural vehicles to heavy-duty construction and mining equipment. Smart hydraulic cylinders use linear transducers (sensors) to communicate a cylinder’s piston position back to the overall hydraulic system, thereby enhancing the accuracy and efficiency of systems. Hydraulic cylinders enabled with position sensing (SMART) technology are extremely reliable, even in harsh environments and high temperature conditions; moreover, they exhibit greater efficiency, improved safety, and unprecedented performance levels. Thus, smart hydraulic cylinders are emerging as a significant trend in the automotive hydraulic cylinder market.
A hydraulic cylinder is a tube that generates linear actuation applying hydraulic pressure. The cylinder includes mounting accessories, a piston with an attached rod, and a steel tube. The hydraulic fluid pressure pushes a piston to move in a forward and backward linear motion. Hydraulic cylinders are durable and create more amount of force when compared to electrical, mechanical, and pneumatic systems. The cylinders require a substantial amount of force for many tasks such as pressing, pushing, and lifting.
The ongoing trend of industrialization, urbanization and economic growth have resulted in an increased municipal solid waste especially in cities with high population. Increasing volume of waste negatively impacts every aspect of society of a country damaging to the environment and surrounding habitat. Failing to address such problems strategically leads to long term impact on environment and public health influencing national economies on destructive way. For instance, according to the World Bank Group, the world generates 2.01 billion tons of municipal solid waste every year. Further, the company expects 3.40 billion tons of global waste by 2050 which is more than double population growth over the same period. The East Asia and Pacific region generate 23% of the world’s waste which is higher than any other region. Due to such factors, economies are increasingly focusing on waste management strategies and thus gradually adopting waste management vehicles.
The significantly rising demand for hydraulic cylinders encourages manufacturers to make various strategic decisions to address this demand. They prefer engaging in strategic alliances such as partnerships, collaborations, and agreements to strengthen their positions in the automotive hydraulic cylinder market.
Thus, such strategic decisions by the market players are enhancing the availability of products and the positions of companies in the automotive hydraulic cylinder market, providing opportunities for their growth in the future.
Key segments that contributed to the derivation of the automotive hydraulic cylinders market analysis are type, truck type and mounting type.
The global automotive hydraulic cylinders market is segmented into five major regions— North America, Europe, APAC, Middle East and Africa (MEA), and South America (SAM). APAC accounted for the largest market share in 2021 and is expected to register the highest CAGR from 2022 to 2028. APAC has two of the fastest-growing economies across the world, namely China and India. Over the last 10 years, these countries have experienced huge investments in public and private infrastructure developments, including the construction of hospitals, airports, railway stations, commercial complexes, and residential complexes. High investments in the construction industry across the two developing countries are significantly propelling the need for heavy construction vehicles, which is accelerating the demand for automotive hydraulic cylinders from construction equipment manufacturers. All these factors are contributing to the growth of the APAC automotive hydraulic cylinders market.
The automotive hydraulic cylinders market in North America is also growing at a significant rate due to the presence of several automotive vehicle manufacturers across the region. The presence of production plants of automotive such as off-highway vehicles across the US and Canada is catalyzing the growth of the regional market. Europe also accounted for a significant share of the global automotive hydraulic cylinders market owing to the presence of several market players, including Hyva Holding BV, Binotto SRL, Montanhydraulik GmbH, and Gidrolast Corp.
The regional trends and factors influencing the Automotive Hydraulic Cylinders Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Hydraulic Cylinders Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 950.57 Million |
| Market Size by 2031 | US$ 1839.17 Million |
| Global CAGR (2023 - 2031) | 5.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automotive Hydraulic Cylinders Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automotive Hydraulic Cylinders Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automotive hydraulic cylinders market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
The “Automotive Hydraulic Cylinders Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas: