Global Industry Trends

Market Size & Growth In 2023, the global hydraulic cylinder market generated revenue of USD 14,558.9 million , according to P&S Intelligence. The market is projected to expand to approximately USD  19,879.8 million by 2030 , reflecting a compound annual growth rate (CAGR) of 4.7% over the forecast period.     Growth Drivers & Industry Applications The market expansion is supported by the accelerating growth of multiple end-use industries, notably construction equipment, manufacturing automation, material handling, agriculture, mining, and oil & gas. Hydraulic cylinders remain critical for heavy-duty actuation, high force density, and precise motion control, making them indispensable components in industrial machinery and mobile hydraulics.     Market Segmentation Function Type Double‑acting cylinders dominate with around 70% share in 2023. These are widely used in applications requiring bidirectional force control—such as ...

  Market Overview The Saudi Arabia water transport market is forecast to reach USD 12.4 billion in 2024 , growing at a 5.4% CAGR to approximately USD 17.0 billion by 2030 . This reflects rising trade across sea lanes, tourism expansion, offshore energy operations, and infrastructure developments in the maritime sector.                                                             Download free Report Sample Now  Key Market Drivers 1. Trade & Offshore Operations Saudi Arabia’s extensive coastline along the Red Sea and the Persian Gulf supports booming marine logistics. The offshore transport segment is the dominant application, contributing nearly 70% of market revenue in 2024 , driven primarily by oil & gas infrastructure, offshore shipments, and cruise tourism support. 2. Cruise Tourism Expansion Government-...

  Market Overview The U.S. metal tank market was valued at USD 7.9 billion in 2024 and is projected to grow at a steady 5.1% CAGR from 2025 to 2032, reaching USD 19.5 billion by the end of the period.     Key Drivers of Growth Industrial Production Expansion Growth in industries such as oil & gas, chemicals, and food & beverage fuels the need for storage and processing tanks. Rising Electricity Demand The demand for power-generation and utilities infrastructure necessitates more industrial-grade metal tanks. Regulatory & Safety Standards New storage and environmental safety regulations prompt retrofitting and building of compliant storage solutions.     Market Segmentation By Tank Type Part I: Large storage tanks for industrial/commercial use (e.g., oil/gas, chemicals). Part II: Pressure vessels and transport tanks across various sectors. By Materi...