Power and reliability, coupled with low operating costs make hydraulic cylinders the preferred choice for a host of mobile and industrial applications. Although potentially challenged by alternative technologies such as pneumatic and electrical drives, hydraulic cylinders remain the most efficient method for maximizing output particularly in high pressure applications such as metal stamping and forming and heavy mobile equipment applications.
The North American hydraulic cylinders market is mature with limited growth potential in all major segments. In response to the global economic decline, the manufacturing sector limited capital investment in North America and Europe. However, the massive installed base of aging hydraulic cylinders has provided some offsetting opportunity for equipment replacement sales. The gradual economic recovery in the U.S. and promising growth markets in Asia-Pacific (“APAC”) present significant opportunities for North American hydraulic cylinder manufacturers.
Click here to read the report.