Recently, much effort has been directed toward reducing the energy consumption of hydraulic systems against the backdrop of energy shortages and environmental problems. This paper is focused on the development of an energy-saving hydraulic system based on common pressure rail (CPR), which has the potential benefit of being widely applicable to construction machinery. First, the principle of CPR is introduced. Then, the main components, including hydraulic transformers and storage elements, are reviewed, followed by an analysis of the development and research efforts focused on the CPR from a system perspective, which includes energy saving application and control performance investigation. Finally, the challenges and the direction of future development are discussed.