India, China manufacturing drive hydraulic cylinders worldwide market

The global market for hydraulic cylinders market is witnessing increasing investments in low-cost manufacturing countries such, as India and China with an expected worldwide CAGR of 4.7% over the period 2012-2016, according to Research and Markets.

‘’There has been a steady increase in the economy of the Asian countries such as China and India. This has paved the way for the emergence of several small-scale and low-cost manufacturing companies. Several organisations in the EMEA region and the Americas are increasingly outsourcing their manufacturing activities to various countries with low labor costs such as India and China. In addition, several global companies are setting up their manufacturing plants in developing countries to take advantage of the low-cost manufacturing ability and the availability of a skilled labor force. This move helps companies to increase their market presence. Thus, the market is witnessing an increase in investments from both domestic and international vendors, comments an analyst from TechNavio’s Engineering team.

Research and Markets says that one of the main drivers is the increased adoption of material handling equipment across the globe. Currently, material handling equipment such as electronic overhead travelling (EOT) cranes, level luffing cranes, and stackers are widely used by several industries such as Power and Energy, Oil Refineries, Food and Beverage, and Retail other than the Construction and Engineering industries. This increases the adoption of material handling equipment and hence helps the growth of the market.