| |DECEMBER 20229HOW HYDRAULIC & PNEUMATIC CYLINDER MARKET IN INDIA IS ACHIEVING SUSTAINABILITYGovernment initiatives to revive infrastructural projects across the country have helped the demand for hydraulic cylinders to grow, owing to their increased adoption in construction and material handling industriesconstruction and mining has also increased the demand for hydraulic cylinders.Favourable Government InitiativesGovernment initiatives to revive infrastructural projects across the country have helped the demand for hydraulic cylinders to grow, owing to their increased adoption in construction and material handling industries. Increasing farm mechanization across regions, especially in all the Asia Pacific countries and increasing mining exploration activities have also promoted the growth of this market.Significant Demand from Construction IndustryNowadays, construction projects are becoming larger and more complex, though the COVID-19 pandemic had affected the construction industry, post the pandemic, there has been a significant revival in the industry which is driven by the increasing infrastructure spending in India and rebounding Asian infrastructure investments. Many new infrastructure development plans and projects are in the pipeline which are likely to drive the demand for construction equipment. In the construction industry, hydraulic cylinders are used in equipment such as backhoes, excavators, trenchers, road construction planners, grinders, concrete or asphalt laying machines, concrete cutting saws, dozers, motor graders, dumpers and skid steers. These cylinders offer resistance against corrosion, abrasion, extreme temperature conditions, weather changes and can be used continuously for extended periods. These advantages have increased their demand in the construction industry.Demand in Shipping IndustryShipping is the most important mode of transport in the country that facilitates international trade. The majority of items from electronics, automobiles, textiles and raw materials to oil & gas are transported by ships. The facilitating institutional and technological factors such as the adoption of industrial IoT and support from government is propelling the growth of the shipping industry, which fuels the need for lifting equipment at ports. Though the adoption of lifting equipment is still at a nascent stage, it is expected to rise significantly in the coming years and therefore is expected to be a potent source of demand for hydraulic cylinders.Restraints in the WayHigh Manufacturing & Maintenance Costs: The manufac-turing of a hydraulic cylinder requires metal forging and pre-cise engineering to create a high quality hydraulic cylinder. Hydraulic cylinders consists of several components which include pistons, cylinder barrels, piston rods, cylinder bases, cylinder heads and cylinder seals to be fitted together. There are cost barriers for small and medium sized enterprises (SMES) to enter the hydraulic cylinder market. Besides the initial manufacturing cost of hydraulic cylinders, they also in-cur maintenance costs over time.Regular Need of Maintenance: Hydraulic cylinders need to be maintained regularly to avoid oil leakages and other malfunctions. The quality and finish of the cylinder rod need to be examined regularly. If the rod is bent, it can cause a load shift. Additionally, incorrect rod strength or diameter can also cause failure. The cylinder tube needs to be examined regularly, as the cylinder walls might undergo wear and tear decreasing its thickness. This condition is known as a balloon tube. These factors lead to increased maintenance costs, thus posing a restraint in the adoption of hydraulic cylinders.Expectations from FutureSteady growth is expected to define the hydraulics, pneumatics and overall fluid power industry for the next few years. These cylinder's retraction properties benefit a variety of industries including automotive and agriculture and tend to be in high demand for mobile applications such as earth moving equipment, forklifts and heavy trucks. With the growing population, there will be more desire for industrialization which will eventually necessitate the use of hydraulic and pneumatic cylinders.
< Page 8 | Page 10 >