Hydraulic Cylinder Market set for 5.95% CAGR Explosive Growth to 2023 led by Aerospace & Defense Industry - RnRMarketResearch

PUNE, India, November 17, 2017 /PRNewswire/ --

Hydraulic cylinder market is expected to be valued at $ 13.64 billion in 2017 and is projected to reach $ 19.30 billion by 2023, at a CAGR of 5.95% between 2017 and 2023. The key factor driving the growth of the hydraulic cylinder market is their rising demand in the construction industry and mining process equipment. Increasing demand for lifting equipment in the shipping industry and for material handling equipment in the aerospace & defense industry is the key opportunity for the players in the hydraulic cylinder market.

Browse 66 Market Data Tables and 55 Figures spread through 154 Pages and in-depth TOC on "Hydraulic Cylinder Market Global Forecast to 2023" http://www.rnrmarketresearch.com/hydraulic-cylinder-market-by-function-single-acting-double-acting-specification-telescopic-tie-rod-mill-type-welded-application-mobile-and-industrial-bore-size-industry-and-region-global-forecast-to-2023-market-report.html .

Hydraulic cylinder market for the aerospace & defense industry is expected to grow at the highest CAGR between 2017 and 2023. The aerospace industry seeks to enhance manufacturing through automated, efficient, and effective processes. In this industry, hydraulic cylinders are used in various types of equipment, such as ground handling equipment, baggage handling equipment, engines, ramps, door actuators, brakes and wheels, flight controls, fuel systems, and specialty aircraft repair equipment. Hydraulic cylinders are also a major component of aircraft landing gears. Landing gears are hydraulically operated, and hydraulic cylinders play a critical role in systems and control surfaces such as flaps, speed brakes, and ailerons.

The major market players in the Hydraulic Cylinder market are Caterpillar (US), Parker Hannifin (US), Actuant (US), Eaton (Ireland), Jiangsu Hengli Hydraulic (China), Robert Bosch (Germany), and Wipro (India), Bosch, Hydac, KYB, SMC.

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Based on function, the market for double-acting hydraulic cylinders is projected to grow at the highest CAGR between 2017 and 2023. In double-acting cylinders, there are 2 ports for the input and output of the hydraulic fluid. The pressure from the fluid can be used in both directions to expand and retract the piston. It can be used vertically as well as horizontally as it has the mechanism to help the piston expand and retract each time it pushes or needs to pull an object.