Asia Pacific Hydraulic Cylinder Market Size & Outlook
Asia Pacific hydraulic cylinder market, 2018-2030 (US$M)
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Asia Pacific hydraulic cylinder market highlights
- The Asia Pacific hydraulic cylinder market generated a revenue of USD 5,044.5 million in 2021.
- The market is expected to grow at a CAGR of 4.5% from 2022 to 2030.
- In terms of segment, welded was the largest revenue generating product in 2021.
- Mill Type is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2022 to 2030.
Asia Pacific data book summary
| Market revenue in 2021 | USD 5,044.5 million |
| Market revenue in 2030 | USD 7,474.8 million |
| Growth rate | 4.5% (CAGR from 2021 to 2030) |
| Largest segment | Welded |
| Fastest growing segment | Mill Type |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Welded, Tie Rod, Telescopic, Mill Type |
| Key market players worldwide | Eaton Vance Atlanta Capital SMID-Cap I, SMC Corp, Parker Hannifin Corp, Caterpillar Inc, Leggett & Platt Inc, Miller Industries Inc, Texas Instruments Inc, Bosch, Jiangsu Hengli Hydraulic, Liebherr Group, Lehigh Fluid Power, Weber Hydraulik, Yates Industries Inc., |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 32.9% of the global hydraulic cylinder market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 7,086.7 million by 2030.
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Hydraulic Cylinder Market Scope
Hydraulic Cylinder Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific hydraulic cylinder market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hydraulic cylinder market will help companies and investors design strategic landscapes.
Welded was the largest segment with a revenue share of 57.2% in 2021. Horizon Databook has segmented the Asia Pacific hydraulic cylinder market based on welded, tie rod, telescopic, mill type covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is one of the largest consumers of hydraulic cylinders in the world. Increasing requirement for hydraulic equipment in various industries, such as infrastructure & construction, automotive, renewables, machine tooling, and logistics, is anticipated to augment the demand for hydraulic cylinders over the forecast period. The countries in the region are focusing to reduce their carbon emissions by shifting their attention toward renewable energy.
For instance, Taiwan plans to generate 20% of its energy requirement from renewables by 2025. The country is expected to add 5.7-gigawatt offshore wind energy between 2021 and 2025. Such investments across the Asia Pacific region are expected to positively benefit the demand for hydraulic cylinders over the forecast period. Governments across the region are investing heavily to upgrade their infrastructure.
For instance, in January 2022, the Indonesian parliament passed a law, the Capital City Bill, to build a new capital city in East Kalimantan province. The country is anticipated to invest USD 35 billion in the construction of this new capital city, which is expected to be completed by 2024. Such infrastructural development activities are expected to propel the demand for construction equipment, such as loaders, excavators, cranes, and trucks, which, in turn, is expected to have a positive influence on the hydraulic cylinder market.
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Target buyers of Asia Pacific hydraulic cylinder market databook
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Our clientele includes a mix of hydraulic cylinder market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific hydraulic cylinder market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific hydraulic cylinder market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific hydraulic cylinder market size, by country, 2018-2030 (US$M)
Asia Pacific Hydraulic Cylinder Market Outlook Share, 2021 & 2030 (US$M)
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