The global market is driven by growing technological advancements in the hydraulic industry. Combining hydraulic cylinders with electronics for enhanced functionality, increased accuracy, improved and controlled performance in various applications is expected to be a key factor for the market growth. Modern hydraulic cylinder technologies comprise of multi-stage and complex linear telescopic cylinders and rotary actuators for a wide range of construction equipment. The global construction industry is estimated to grow by 85% to USD trillion in the forecasted period, leading to market demand.
“ Rapid industrialization with increasing construction and the infrastructural sector is expected to be the fastest-growing end-use industry in Market.”
As per the research of the Global Construction Perspective (GCP) and Oxford Economics, the value of the construction industry is likely to grow by 85% to USD 15.5 trillion by 2030. With three leading countries-China, the US. And India, Valued 57% of global growth in the construction sector. Technological advancements such as Industry 4.0 is one of the key growth factors in the construction and infrastructure industry, thus leading to advancement in market trend.