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., |
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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.
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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