- The key vendors in the hydraulic cylinder market in India 2015-2019 are Bosch, Dantal Hydraulics, Veljan Denison, and Wipro Infrastructure Engineering
London, 29 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the hydraulic cylinder market in India 2015-2019. The growing preference for renting and leasing construction equipment is a key trend observed in this market. Renting helps to minimize the operational and financial risks associated with a project. It is also useful during peak construction activities as users can avoid purchasing expensive equipment that they may not need again. This market is expected to grow at a CAGR of 14.67% during the forecast period of 2014-2019.
The recent increase in the frequency of construction activities in India is expected to bolster the prospects for growth in this market. Infrastructure development, especially in sectors like transportation, mining, residential and commercial, and energy will result in the increased demand for construction equipment, specifically hydraulic cylinders. Also, investments made by the government and numerous private players will boost growth in the manufacturing sector, which will augment the demand for equipment such as hydraulic cylinders in this region.
“The development of smart cylinder technology has enhanced the operational efficiency of equipment containing these cylinders. Smart cylinders consist of a magnetostrictive sensor that discerns the position of a rod in a hydraulic cylinder and generates the required output to more effectively monitor its position,” says Faisal Ghaus, Vice President of Technavio Research.
“The use of smart cylinder technology in outrigger system of truck-mounted cranes provides feedback of the cylinder position, enhancing the security and maintenance of the crane.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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