Agriculture will help drive global hydraulic cylinder market to 4% a year growth
Growing food requirements to sustain increased populations means the agriculture industry will need sophisticated equipment to carry out effective agricultural processes
A new report forecast the global hydraulic cylinder market will grow at a CAGR of 4.39% between now and 2020. The hydraulic cylinder industry will see a steady growth during the forecast period due to a continuous demand from the agriculture, construction equipment, mining equipment, material handling equipment, industrial equipment, aerospace, and defence sectors.The report titled "Global Hydraulic Cylinder Market 2016-2020" was released this week by Research and Markets and focuses on the current state of the market and the growth prospects of the global hydraulic cylinder market for 2016-2020. According to the report, one of the primary drivers in the market is rising demand for food and fibre to drive agriculture industry. The burst in population figures suggests that by 2050 the population will expand up to nine billion. In order to cater to the growing food requirements to sustain such a large population, the agriculture industry will need sophisticated equipment to carry out effective agricultural processes; the agriculture industry will grow at 3.61% CAGR annually. The mechanisation of agricultural processes will help increase the sale of hydraulic cylinders.
To calculate the market size, the report discusses major drivers that are influencing market growth and challenges faced by vendors and the market as a whole.
One of latest trends in the market is rising popularity of integrated solution and services. The report says: "Vendors are more focused on providing integrated solutions to its customers. They offer both the product (hydraulic cylinders' system) and solutions to differentiate themselves from other market vendors. "Integrated solutions help achieve profitable maintenance and aftermarket service revenue. This also strengthens the vendor-client relation. In an integrated system, all components of a hydraulic system such as hydraulic cylinder, valve, and pump are sold as a single unit or kit. For end-users, this solution helps reduce the time frame of procurement. Clients react favourably to solutions that offer better outcome with enhanced performance. These systems provide users with efficiency, engineering, and purchase solution. This lowers the overall operational cost and lead times."
The report lists key vendors:
Key Topics Covered:
- Bosch Rexroth
- Parker Hannifin
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market segmentation by end-user
Part 06: Geographical segmentation
Part 07: Market drivers
Part 08: Market challenges
Part 09: Impact of drivers and challenges
Part 10: Market trends
Part 11: Vendor landscape
Part 12: Key vendor analysis
Part 13: Appendix
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