27-Jul-2022 | Zion Market Research
The global hydraulic gear pumps market was worth USD 1827.4 million in 2021 and is estimated to grow to USD 2246.34 million by 2028, with a compound annual growth rate (CAGR) of approximately 3.50% over the forecast period. The report analyzes the hydraulic gear pumps market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the hydraulic gear pumps market.
Hydraulic gear pumps transform mechanical energy into the fluid's hydraulic energy. The pump transfers fluid as a result of the gear's rotation creating a vacuum at the inlet. The liquid is sent over the gears. The fluid pressure at the discharge is increased by the mechanical energy created by the gears' revolution. Hydraulic gear pumps are compatible with a variety of construction machinery. Fluids are pumped throughout a system by hydraulic gear pumps, which rely on the gear meshing since the mechanical clearances between the gears are so small. As the gears turn, the hydraulic fluid is forced forward toward the discharge point. Earth moving equipment, agricultural machinery, material handling equipment, and construction equipment are the main applications for hydraulic gear pumps. Owing to the rise in demand for hydraulic gear pumps, the global hydraulic gear pumps market is estimated to grow at a CAGR of 3.50% during the forecast period.
Urbanization is accelerating in developing economies such as India, China, Brazil, and Argentina, which is predicted to promote the construction industry's growth. The rapid expansion of the residential sector to meet the growing demand for urban living spaces, particularly in fast-developing economies, is also boosting the growth of the construction industry, driving sales of a wide range of construction equipment, including hydraulic gear pumps. Because hydraulic pumps are utilized as a power generation mechanism in automobiles, trucks, and other vehicles, the rise of the automobile sector boosts the demand for hydraulic gear pumps. The global hydraulic gear pump market is anticipated to be driven by improvements in infrastructure, the growth of the renewable energy sector, and the rising demand for energy-efficient solutions to meet the strict government rules for environmental protection worldwide. Nevertheless, during the anticipated period, the market expansion is anticipated to be constrained by the high cost of manufacturing hydraulic gear pumps.
The global hydraulic gear pumps market is segregated based on product type, operating pressure, application, distribution channel, and region. Based on product type, the market is bifurcated into external gear pump and internal gear pump. Among these, the external gear pump segment dominated the market in 2021. Based on operating pressure, the market is divided into less than 100 bar, 100–300 bar, and above 300 bar. Among these, the 100–300 bar segment dominated the market in 2021. Based on application, the market is divided into transmission/clutches, electrohydraulic powered steering, hybrid propulsion and lifting applications. Over the forecast period, the lifting application is expected to develop fastest. Based on the distribution channel, the market is divided into original equipment manufacturer (OEM) and aftermarket. Over the forecast period, the original equipment manufacturer (OEM) segment is expected to develop at the fastest rate.
North America is expected to dominate the global hydraulic gear pumps market during the forecast period due to increased agricultural & construction activity worldwide and higher construction investment. The specific tasks undertaken include the construction of infrastructure and the large-scale use of hydraulic pumps in mining metals and minerals. Additionally, the hydraulic fracturing process for producing shale gas has seen increased demand in the area. Over the forecast period, the Asia Pacific regional market is expected to grow at a significant rate due to the widespread expansion of wastewater treatment in nations like China, India, and Japan. Another element influencing the region's expansion is the rising investments in construction activities in emerging nations, especially Southeast Asia. In addition, the market for these pumps is given new prospects by the increasing trend toward renewable energy in several Asia-Pacific nations.
Key players functioning in the global hydraulic gear pumps market include Linde Hydraulics GmbH & Co. Kg, Bosch Rexroth AG, Sapricon Hydraulic Industries, Eaton Corporation Plc, Kawasaki Heavy Industries Ltd, Dynamatic Technologies Limited, Bucher Hydraulics GmbH, Parker Hannifin Corp, Marzocchi Pompe S.p.A., HYDAC, Daikin Industries Ltd. and Gemma Automotive.
Browse the full “Hydraulic Gear Pumps Market By Product Type (External Gear Pump and Internal Gear Pump), By Operating Pressure (Less Than 100 Bar, 100–300 Bar and Above 300 Bar) By Application (Transmission/Clutches, Electrohydraulic Powered Steering, Hybrid Propulsion and Lifting Application), By Distribution Channel (Original Equipment Manufacturer (OEM) and Aftermarket), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/hydraulic-gear-pumps-market
Global Hydraulic Gear Pumps market is segmented as follows:
By Product Type
By Operating Pressure
By Distribution Channel
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