Hydraulic gear pumps have been traditionally utilized in many end-use industries, owing to their simple design, flexibility, and ease of exercise along with their versatility.
In 2022, the global hydraulic pump market was estimated to be worth USD 9,149.8 million. According to projections, the hydraulic pumps market would expand at a compound annual growth rate (CAGR) of 4.7% from USD 9,537.6 million in 2023 to USD 13,190.4 million by 2030.
These characteristics form hydraulic gear pumps an ideal option for application in several chemical and industrial processes. Also, the hydraulic gear pump price remains within an accessible range when compared with other substitute pump types that are procurable on market.
The cumulative growth of end-use industries has directly affected the demand for hydraulic pumps. With a substantial number of manufacturing industries being set- up, and planned expansions taking position across industries, the demand for hydraulic pumps is anticipated to witness robust growth during the forecast period.
The compounding demand for industrial equipment from a large number of industries is directly associated with the demand for hydraulic gear pumps. Growing demand for user-friendly pump solutions, combined with the right fitment, will endure bolstering the demand for hydraulic gear pumps throughout the forecast period, 2023- 2032.
Key Players
- Kawasaki Heavy Industries Ltd.
- Parker Hannifin
- Motion Industries Inc.
- Allegro Funds
- Questas Group
- HOMA Pumpenfabrik GmbH
- Bailey International LLC
- Bosch Rexroth AG
- Danfoss AS
- Eaton Corporation PLC
- Oligear
- Linde Hydraulics
- Dynamatic Technologies Ltd
Regional Analysis
The Global Hydraulic Pumps Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
In the global market, East Asia, especially China and Japan would remain the steering consumers of hydraulic gear pumps owing to the strong presence of several production facilities for the construction equipment, material handling equipment, and construction equipment
Governments of arising economies in Africa and Asia, especially in countries similar to India, China, and South Africa, are boosting efforts to enhance access to drinking water in rural as well as urban areas. With the augmented investments and activities undertaken by different governments, the demand for hydraulic pumps is set to witness expressive growth in the coming years.
Agriculture is positioning the most expressive demands on water in Asia and the Pacific, as growing populations, lightning urbanization, and energy, industrial, and domestic application have left water stocks in a critical state.
Utmost Asian countries depend heavily on groundwater for farming. Around 80 of Asia's freshwater is utilized to irrigate crops, much of which is exercised inefficiently. Hydraulic pumps harness fewer moving parts through the mechanical and electrical systems. Therefore they become more straightforward to maintain. The water flow can be sped up, slowed down, or stopped utilizing simple controls, which becomes smooth for farmers.
Market Segmentation
The Global Hydraulic Pumps Market Trends is segmented into;
By Product Type-
- Fixed Displacement
- Gear Pumps
- Screw Pumps
- Gerotor Pumps
- Variable Displacement
- Rotary Vane Pumps
- Radial Piston Pumps
- Axial Piston Pumps
- Bent Axis Hydraulic Pumps
By Operation-
- Hydraulic
- Electro Hydraulic
By End Use-
- Oil & Gas
- Chemical & Petrochemical
- Water & Wastewater
- Construction
- Metals & Mining
- Material Handling
- Agriculture
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