Hydraulic Cylinder Market Forecast 2020-2027

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global hydraulic cylinder market was worth USD 12.6 billion in the year 2020. The market is estimated to grow at a CAGR of 4.3%, earning revenue of around USD 22.7 billion by the end of 2027. The global hydraulic cylinder market is flourishing at a substantial rate owing to various factors such as ongoing research and development activities as well as technical advances in hydraulic cylinders and a rise in construction and mining activities. Less energy consumption, resilience to harsh environments, flexibility, safety, and reliability are some additional factors that will drive up demand for hydraulic cylinders in the industry.