Europe Hydraulic Cylinder Market Size & Outlook, 2021-2030
Europe hydraulic cylinder market, 2018-2030 (US$M)
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Europe hydraulic cylinder market highlights
- The Europe hydraulic cylinder market generated a revenue of USD 4,144.8 million in 2021.
- The market is expected to grow at a CAGR of 3.3% from 2022 to 2030.
- In terms of segment, welded was the largest revenue generating product in 2021.
- Telescopic is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2022 to 2030.
Europe data book summary
| Market revenue in 2021 | USD 4,144.8 million |
| Market revenue in 2030 | USD 5,544.9 million |
| Growth rate | 3.3% (CAGR from 2021 to 2030) |
| Largest segment | Welded |
| Fastest growing segment | Telescopic |
| 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, Europe region accounted for 27.1% 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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Europe 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 54.78% in 2021. Horizon Databook has segmented the Europe hydraulic cylinder market based on welded, tie rod, telescopic, mill type covering the revenue growth of each sub-segment from 2018 to 2030.
The GDP of Europe shrank by 5.9% in 2020 owing to the COVID-19 pandemic. It expanded by 5.4% in 2021. According to the World Bank data, the region is expected to register a growth rate of 4,0% in 2022. Europe is facing the negative impact of the COVID-19 pandemic, Russia-Ukraine conflict, and energy crisis. According Energy Global, Europe invested approximately USD 44.20 billion (EUR 41 billion) in wind energy in 2021 to generate the 25 GW wind production capacity of the region.
However, these investments in Europe are still falling short of the capacity of 35 GW per year to meet its 2030 climate and energy security target. With the requirement to reduce its dependence on oil & gas supply from Russia, the investments in wind energy in Europe are anticipated to surge over the forecast period. This, in turn, is expected to result in an increased demand for hydraulic cylinders used in offshore cranes and wind turbines in the region.
The rising usage of cranes in wind farm construction and infrastructure development projects, along with surging demand for crane rental services, leads to the increased procurement of hydraulic cylinders in Europe. For instance, in January 2022, a Denmark-based rental company, BMS ordered a 3,000-tonne capacity ring crane from Huisman. The crane is expected to be primarily used in the wind energy industry by 2023.
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Our clientele includes a mix of hydraulic cylinder market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe hydraulic cylinder market , including forecasts for subscribers. This continent databook contains high-level insights into Europe hydraulic cylinder market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe hydraulic cylinder market size, by country, 2018-2030 (US$M)
Europe Hydraulic Cylinder Market Outlook Share, 2021 & 2030 (US$M)
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