According to a hydraulic cylinder market report released in 2017, from 2016 to 2020, the global hydraulic cylinder market is expected to grow at a compounded annual growth rate of nearly 4.4 percent. Some of the key drivers of growth for hydraulic cylinder manufacturers are the ongoing demands associated with defense, aerospace, industrial equipment, material handling equipment, mining equipment, construction equipment, and agriculture.
Snapshot of the Hydraulic Cylinder Market
One of the key market drivers for hydraulic cylinder manufacturers is the rising demands for fiber and food currently driving the agriculture sector. One of the largest challenges facing the industry right now are the limitations that exist with the servicing and repair for hydraulic cylinders. The most influential trends affecting hydraulic cylinder manufacturers right now may be the growing prominence of the integrated servicing and solutions now available.
Growing Demand in Agriculture
The leading factor affecting the global market for hydraulic cylinder manufacturers is rapid industrialization in conjunction with the economic growth occurring in different developing countries. As businesses aspire to conserve energy and improve productivity, the demand for modern agricultural hydraulic equipment is expected to support growth for the hydraulic cylinder market. The modernization of agricultural practices and food processing should also help support growth for hydraulic cylinder manufacturers.
In the United States, the hydraulic cylinder market is expected to realize exponential growth in the near future. The largest factors driving growth for the industry in the U.S. are the growing investments in aerospace, defense and material handling sectors. Substantial market gains are expected in Russia and Brazil as well.
