After being hit by the 2009 recession, the Global Hydraulic Cylinder Market is finally back on the rise. The market’s CAGR for 2012-2016 is higher than it’s been in years, at 4.7 percent. This upward trend can be credited to the international demand for outsourced manufacturing and the call for material handling equipment across the globe.
Although the US and many countries in the United Kingdom are still coping with some effects of the recession and struggling to rebuild their manufacturing and production industries, the Asia-Pacific (APAC) region’s economy is steadily rising. In fact, the APAC region accounts for a 38-40 percent of all revenue in the Global Hydraulic Cylinder Market.
Three primary reasons are responsible for the recent boom of manufacturing companies across APAC countries, and the region’s Global Hydraulic Cylinder market:
- American outsourcing
- International business expansion
- Infrastructural development in third world countries
The APAC region shows no signs of slowing down in the Global Hydraulic Cylinder Market, but this doesn’t mean that other regions aren’t also seeing positive trends.
Market segments in the Americas and EMEA region have seen significant growth in 2012 in response to the increased adoption of hydraulic cylinder applications in many industries including:
- Food and Beverage
- Waste Management
- Pulp and Paper
- Agriculture
- Forestry
These different industries all use hydraulic cylinders for very specific functions, which creates a demand for custom-engineered products. Analysts at TechNavio predict that custom-engineered hydraulic cylinders will become a significant market sector in the next four years.
The key players dominating the Global Hydraulic Cylinder market include Weber-Hydraulik GmbH, Wipro Infrastructure Engineering, Metal Products, and Energy Manufacturing.
Ultimately, the resurgence of hydraulic cylinder production is bound to be a slow process as the world’s economy recovers. That said, the outsourcing and expansion trends of the US, the mass call for material handling equipment, and the flourishing developments in the APAC region, have the combined potential to be just the economic saviour that the Global Hydraulic Cylinder Market needs.
View our 2012-2016 Global Hydraulic Cylinder Market Report for even more information.
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