The North America Hydraulic Cylinder Market would witness market growth of 3.7% CAGR during the forecast period (2021-2027).
Hydraulic and pneumatic cylinders are hydraulic and pneumatic devices that convert fluid pressure energy into mechanical energy. Actuators, as they are often known, are frequently utilized in a variety of control devices. Hydraulic or pneumatic cylinders for straight motion, motors for turning motion, pendulum actuators for rotational motion, and other types of actuators are examples of actuators. The pneumatic cylinder converts the gas's pressure energy into mechanical energy by using compressed air as a supply.
One of the primary reasons driving the market's growth is the developing construction and mining sectors. Hydraulic cylinders are progressively being used in heavy machineries, such as backhoes, trenchers, asphalt laying machines, concrete cutting saws, and motor graders, as a result of rising industrialization and urbanization, particularly in emerging nations. Developments in the aerospace and defense sectors are also a major driver of market growth.
These cylinders regulate flaps, brakes, and landing gear in airplanes. They're also used in military equipment like thrust reversers, telehandlers, bomb loaders, and automated pallet and personnel door systems. The market is also benefiting from the increased mechanization and automation of agricultural equipment. To improve the overall productivity of various agricultural processes, farmers are progressively replacing traditional conventional tools with hydraulic devices. Other factors, including product innovation and the implementation of favorable government policies to boost infrastructure development, are expected to further propel the market.
The US market has controlled over the majority of the hydraulic cylinder market share. Different market participants have developed numerous dimensions and designs with extra features as a result of significant sales of hydraulic cylinders in the United States. Manufacturers are introducing goods that are built to endure a long time, require little maintenance, and remain rust-free for the duration of their lives. Product development, manufacturing facility investment, and research and development are becoming more important to hydraulic cylinder manufacturers in the United States. The United States also boasts a growing number of developing and prominent hydraulic cylinder producers, making it a leading market that is steadily growing.
Canada is also expected to take huge strides in capturing more revenue share of the hydraulic cylinder market. Over the forecast period, rising investment in the construction industry will increase technology demand. Furthermore, the government's increasing efforts to improve the aerospace and defense industries would increase product penetration in the country.
The US market dominated the North America Hydraulic Cylinder Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3,658.7 million by 2027. The Canada market is estimated to grow at a CAGR of 6.1% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 5.1% during (2021 - 2027).
Based on Function, the market is segmented into Double-acting, and Single-acting. Based on Specification, the market is segmented into Welded, Tie Rod, Telescopic, and Mill Type. Based on Bore Size, the market is segmented into 50–150 MM, <50 MM, and >150 MM. Based on Application, the market is segmented into Mobile, and Industrial. Based on Industry, the market is segmented into Construction, Aerospace, Material Handling, Mining, Agriculture, Automotive, Marine, Oil & Gas, AND Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Hydraulic Cylinder Market is Estimated to reach $18.3 Billion by 2027, at a CAGR of 4.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wipro Limited, Caterpillar, Inc., Parker Hannifin Corporation, Standex International Corporation, Kawasaki Heavy Industries, Ltd., SMC Corporation, KYB Corporation, Enerpac Tool Group Corp., Ligon Industries, LLC, and HYDAC International GmbH.
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By Bore Size
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