In order to improve the impact resistance performance of an anti-impact hydraulic column, a folding barrel energy absorbing component was designed and applied in the column’s supporting structure. A method combining numerical simulation and tests was used to study buckling energy absorbing characteristics of a folding barrel. Simulation results showed that the folding barrel in its compression deformation process can produce buckling deformation according to the guide of the pre-buckling, the deformation effect is ideal, symmetrical and stable. The quasi-static compression tests were done for folding barrels to get their compression shapes under different test conditions, the force-displacement-energy curve of each specimen was obtained. Test results showed that if Q760 steel is cold pressed processed, when the compression test was done for the specimen made with it, the specimen has a local cracking phenomenon and can’t reach the expected energy absorption value; if HG70D steel is processed with hot pressing and heat treatment, when the compression test was done for the specimen made with it, there is no cracking in any steel plate of the specimen, so the material and machining processing techniques ameliorate folding barrels’ steel plate homogeneity, and eliminate internal residual stresses, and improve their stability.