According to the latest Global Agricultural Machinery Hydraulic System Market Analysis Report, the global market size of agricultural machinery hydraulic systems is expected to reach 8.2 billion US dollars by 2024, with the Asia Pacific region leading the global market with an annual growth rate of 12.3%.
The report specifically points out that as the world's largest agricultural machinery producer, China's export volume of hydraulic cylinders has maintained a growth rate of over 20% for three consecutive years. Southeast Asia currently accounts for 45% of China's total hydraulic cylinder exports, while the African market has become the most promising emerging market with an annual growth rate of 35%.
The market share of intelligent hydraulic systems is rapidly increasing, and it is expected to account for 28% of the total market this year, "said the chief analyst of the report." This is mainly due to the promotion of precision agriculture development
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