LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global hydraulic cylinder market predicts a CAGR of more than 4% during the period 2018-2022.
The report segments the global hydraulic cylinder market by end-user (CMMH, agriculture, A&D, and IE), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global hydraulic cylinder market, according to Technavio heavy industry researchers:
- Mechanization of agriculture and growth in agriculture machinery market: a major market driver
- Growth in e-commerce: emerging market trend
- The Americas dominated the global hydraulic cylinder market with over 36% share in 2017
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
Mechanization of agriculture and growth in agriculture machinery market: a major market driver
Mechanization of agriculture and growth in agriculture machinery market is one of the major factors driving the global hydraulic cylinder market. A global increase in the demand for food is witnessed due to growth in the global population and decrease in the amount of agricultural land. A major challenge for the agricultural industry will be meeting the global agricultural productivity target to cater to the estimated food, fuel, and fiber demand by 2050. Increasing mechanization can overcome the major challenging factors such as limited arable land and resources, and dearth of skilled labor.
According to a senior analyst at Technavio for tools and components research, “The use of hydraulic equipment is replacing jobs that were formerly carried out manually or by farm animals. Also, using hydraulic equipment improves the overall efficiency of diverse agricultural operations. Therefore, agricultural mechanization boosts large-scale production and improves the quality of agriculture produce.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Growth in e-commerce: emerging market trend
Increased Internet penetration has been driving the e-commerce industry over the last few years. Access to the internet has spread to all age groups due to the drastic increase in the sales of smartphones. The growth in e-commerce is expected to provide a significant expansion and diversification opportunities for the vendors during the forecast period. Manufacturers of hydraulic cylinders are increasingly adopting e-commerce channels as an extension to traditional sales mediums.
The expanding capabilities of e-commerce channels regarding the optimization of supply chains prove advantageous for hydraulic cylinder vendors. Factors such as enhanced inventory management and optimization of manufacturing and operational costs support the adoption of e-commerce by vendors of hydraulic cylinders.
Global market opportunities
In terms of regional dominance, the Americas led the global hydraulic cylinder market, followed by APAC and EMEA in 2017. Although, America accounted for the major share of the market it is was closely followed by APAC. Greater mechanization in agriculture will significantly impact the total factor productivity (TFP) and influence its growth. This is expected to lead to a rise in the production due to improved management of inputs.
|
Technavio’s best deals of the month! |
|
Technavio supports Health for All campaign on this World Health Day with 20% savings on all reports in the Health and Wellness category for the entire month. |
|
OR |
|
Celebrate International Astronomy Day by indulging in a whopping 30% savings on all reports in the Space category. Offer valid from 16th April for a limited period. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
